Running a successful business is as much about being competent as being skilled at managing the backend of daily operations. Over the years, I learned the importance of developing business management skills. For example, by improving my time management and good communication, my business succeeded. There are other skills freelancers need for a successful business. However, based on my experience, I have highlighted eight (8) skills freelancers need.

Money Management

Whether we pay the salary, purchase business resources, or finance the lifestyle we want, proper money management is vital in entrepreneurship. We have to work hard to earn, so we should not waste our money on frivolous spending. Hence, I suggest that we differentiate our necessities from our wants, identify ways to reinvest, and budget ourselves carefully. You may learn about money management by clicking HERE.

Time Management

One of the most beneficial skills for anyone to have is time management. Too many freelancers suffer from burnout, work overload, and stress because they do not know how to schedule and prioritize their time. Understandably, the early years in business require sacrifice to lay the foundation for long-term success. However, though we work hard, we should also work smartly. 

One of the ways how I have learned to improve my time management is by spending more time completing priority tasks instead of menial ones. Additionally, I also schedule my urgent duties for my most productive times of the day. I am not perfect, but I have been working on developing this skill. Click HERE to learn how you can do the same.

Good Communication

Communication is both a verbal and non-verbal expression of what we want to say. As freelancers, especially Online Freelancers, it is essential to have a clear understanding between ourselves and our clients. Our customers need to know how our services work, the service fees, terms, and conditions. Additionally, we must be secure the clients’ needs and job requirements to ensure customer satisfaction. 

Some ways in which we can accomplish good customer-freelancer communication are by: 

Asking clarifying questions when we get a job offer before accepting it. 

Keeping them updated on our progress.

Ensuring our clients’ approve of any changes that differ from the original agreement.

Responding promptly and professionally to clients’ messages

To get more advice on how to develop demonstrate good communication, click HERE.

Negotiation Tactics

Having good negotiation tactics is a form of effective communication. It shows how well we can sell ourselves as the best candidate for the job. An example is having a professional résumé, curriculum vitae, application letters, business portfolios, or response to a job offer. 

In the initial stages of receiving a job offer, we will have to pull on this skill to accept the right jobs based on the fairness of the pay, the nature of the client, and the quantity of the workload. As a result, our wording helps us properly assess if we should accept the job.

Too many of us give in to the pressures of earning and satisfying unreasonable clients and end up settling for payments that are below the value of our work. Thus, in the initial stages of getting a job offer, we should determine whether to accept a job offer or to decline it by:

1 Ensuring that we clearly understand the client and respectfully establish our terms and conditions. If the clients’ demands meet our terms and conditions, then we have a successful negotiation. 

2 Respectfully validating the value of our services when clients want to lower or fees or question or credibility.

3 Identify and encourage the situations where a mutually agreeable adjustment of our clients’ demands matches our service fees. 

4 Providing fair compensation for problems that we cause our clients and avoid unnecessarily challenging clients.

Organization

I have found that many often overlook the fact that organization is a skill. As freelancers, we have to juggle our personal life and professional life through strategic organization. For example, we have to schedule our workload and personal priorities to prevent procrastination and stress. Furthermore, we have to create systems that ensure efficiency to meet deadlines and keep track of the information we need to do our jobs. 

Problem-solving

In everything that we do in life, we will encounter challenges. Freelancers are bosses who have to find solutions whenever problems arise. Have strong problem-solving skills is more a matter of mindset and critical thinking. We identify the root of the issues, possible solutions and weigh the pros and cons of each solution before selecting the best way to resolve the challenge.

I have realized that a great problem solver “thinks outside the box”  and is creative. Most importantly, this skill requires calm under pressure to find a good resolution. I would encourage every freelancer to develop this skill.

IT Skills

Having IT (Information Technology) aids freelancers. There are numerous IT skills, but the ones we need will vary based on the type of work. However, I have generally found that competency in Microsoft Word and Excel benefits freelancing. 

I think that having a basic competency in using Microsoft Word and Excel will be helpful. Usually, we are typing documents or filing information. Some of the jobs that may use these applications are being a transcriber and a virtual assistant. 

Social Media Marketing

I constantly hear and see that everything is either online or transitioning to having an online presence. Social Media is one vital avenue for having a marketable online presence. Thus, I encourage every freelancer to have, at least, a basic understanding of how to market the freelancing business online. For example, we should know how to create posts, engage with followers and create posts that encourage prospective clients to purchase your services. Additional tips and advice on social media strategies for freelancers can be found HERE. However, if freelancers can afford to hire a professional, one could opt out of pursuing this skill. 

In essence, running a freelancing business requires competency for daily operations and completing jobs. Hence, freelancers should possess abilities to ensure efficiency, productivity, and customer satisfaction. I have listed some vital examples, but there are more. However, I have learned that possessing or developing these few can go a far way in creating a successful business.

Don’t hesitate to connect with me on:

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You can also click here to check out my previous blog post.


Layten

Consultant/Blogger/Freelancer/Trainer/Transcriber/Speaker/Web Designer. I am on a mission to travel around the world and help persons to become their best selves, by becoming freelancers.

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