How Acting Like a Business Owner Changed the Game for My Freelance Business

How Acting Like a Business Owner Changed the Game for My Freelance Business

Today, I’m excited to share the mindset shift that has made all the difference for my freelance business. It's simple but powerful: start thinking of yourself as a business owner instead of "just" a freelancer.

When I first started freelancing, I saw myself as a marketing professional for hire. I thought my job was just to deliver quality work on time and make my clients happy. And while those things are definitely important, they're only a small part of what it takes to build a successful freelance business.

It wasn't until I started thinking of myself as a business owner that I really started to see my freelance career take off. Here are just a few of the benefits I've experienced since making that shift:

I raised my rates.

As a freelancer, it can be tough to know how much to charge for your services. But when I started thinking of myself as a business owner, I realized that I needed to charge rates that would not only cover my expenses, but also help me grow my business. So I did some research, talked to other freelancers, and raised my rates accordingly. And you know what? Most of my clients didn't bat an eye. In fact, many of them told me they were happy to pay for quality work. (Nervous? Here’s what to do if a prospective client says your rates are too high.)

I negotiated contracts.

When you're "just" a freelancer, it can be tempting to accept whatever terms your clients offer you. But as a business owner, I know that I need to protect myself and my business by negotiating contracts that work for my business. That means making sure I'm not taking on too much risk, setting clear expectations for both parties, and including clauses that protect my intellectual property and ensure timely payment.

I pushed back on late payments.

Late payments can be a huge problem for freelancers, and I used to worry that I was being annoying when I followed up with my clients. But when I started thinking of myself as a business owner, I realized that I have the power to enforce my payment terms. That means following up on overdue invoices, charging late fees when necessary, and even firing clients who consistently fail to pay on time. It's not always easy, but it's essential for the health of my business. (If you’re struggling with this, here are a few tips for dealing with late payments.)

I prioritized working on my business.

When you're "just" a freelancer, it can be easy to get caught up in the day-to-day work of delivering projects. But as a business owner, I know that I need to spend time working on my business as well as in it. That means marketing my services, building relationships with clients and other freelancers, and investing in my own professional development. And by doing so, I've seen my business grow in ways I never could have imagined.

So if you're a freelancer, I encourage you to start thinking of yourself as the CEO of your own small business - because that's what you are. It may take some time to get used to the idea, but trust me: the mindset shift is worth it. By taking ownership of your business and treating it as a serious enterprise, you'll be better equipped to raise your rates, negotiate contracts, push back on late payments, and prioritize working on your business. And that, my friends, is the key to freelance success.