While going freelance in some industries that are rapidly vanishing or changing can be incredibly challenging; going freelance in the IT sector can often promise a lot of security. After all, most people own a computer, and most businesses will need help with managing their day-to-day functionality. However, the IT sector is not without its risks and twists, and these are always good to be wary of. On top of setting your rates and buying your equipment, you will need to consider a few things about the industry.
You will need insurance
Everyone makes mistakes, whether they’re part of a bigger company or working on their own. The truth is that IT and tech contractors require tailored insurance to ensure that they are covered in the event of a mishap. Damage may come to office equipment or information could be lost. If you are unsure of what your insurance should be covering, contacting a provider such as Hiscox UK should help you find the correct insurance for your service. After all, when you’re generating your own source of income, any disruption to your cash flow can be incredibly stressful.
Your clients may ask for personal IT solutions
While most people use information technology of some description, whether it’s their iPhone, tablet or laptop, not everyone is confident in using it. While, as a contractor or freelance engineer, you may expect your work to begin and end with the business, some clients may ask for professional help on their devices. Depending on the client, it’s sometimes good to see this as a compliment and testament to your abilities. However, you may end up using your personal time to fix their equipment, and some clients may be cheeky enough to ask for this for free. While this is entirely up to you, it is good to set a precedent that personal help may come with a charge.
Don’t undervalue yourself
Knowing your true value as a technician or consultant is fundamental to feeling content in the income you’re receiving. Don’t discount your rate because you’re worried there might be technicians with more years behind them – figure out a rate that will cover your expenses, bills and lifestyle costs. It’s recommended that you start with your desired salary first and work out how much will be going on covering your business overheads.
Clients may be swayed by price
While your rates need to reflect your worth, sometimes you may need to push a hard bargain if you feel a client is worth keeping. Here’s the awkward factor about freelancing – you will have competitors, and sometimes you may have to one-up them. Sometimes clients are restricted by budgets, that they cannot help. For example, a school may be in desperate need of an IT technician, but know that they just do not have the budget for an expensive hourly rate. So, some freelancers have offered clients discounted bundles to keep the feeling of value for money.
There’s a bit of an art involved with striking a balance between setting your rates and appeasing clients who are after a bit of a bargain. However, ultimately, you are your own boss. The best thing you can do is keep your financial integrity, and keep your business as protected as much as possible to keep it on its feet.