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Freelancing 101: Getting Started On Your Own.
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What Can Freelancing Mean for You?
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Freedom
Choose Your Clients
Choose Your Projects
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Motivation
Control Of Your Future
Self Discipline
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Responsibility
For Your Own Income
For Your Own Expenses
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Look In The Mirror Meet Your Boss
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Freelancing Pros
Flexible ScheduleIncreased OpportunityControl Your DestinyGood Way To Get ExperienceNot Locked Into A Career Path
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Freelancing ConsConvenience Store HoursNo External MotivatorsFinancial InstabilityNo Paid BenefitsReduced Civil Rights Protections No Defined Career PathHard To Explain To Relatives
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January
February
March
April
May
June
July
August
September
October
November
December 10%
7%
10%
7%
5%
5%
7%
12%
12%
12%
7%
5%
Freelance Income Cycle
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Master Plan
Mission
Market
Goals
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Business StructuresSole Proprietorship
Easy Way To Start
PartnershipFor Better Or Worse
IncorporationS, C, LLC, B
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Legal RequirementsAssumed Business Name
Federal Employer Identification #EIN
Tennessee Tax RegistrationBusiness License Needed >$3000 year in Income
Obtain From Each County You Work In
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Marketing
Networking
Pay It Forward
Create & Publish Useful Content
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Marketing ToolsBusiness Card
Portfolio
Resume
Website
Social Media Accounts
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First Impressions
Consistent
Professional
Branded
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Paperwork
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Contracts
Money Changes Hands in a Business Relationship
Verbal Agreements Get Forgotten
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Contract Elements
The Offer
The Consideration
The Acceptance
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The Offer
Project ProposalProject Description
Defined Responsibilities
Specific Deliverables
Delivery Schedule
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The Consideration
Budget
Schedule
Payment Terms
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The Acceptance
An Agreement
A Signed Document
An Email Reply
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Contract Example4/22/14
Zhen Zhen SunUTSA Office of the Vice President for ResearchOne UTSA CircleSan Antonio, TX 78249
Dear Zhen Zhen:
Thank you for the opportunity to provide a proposal for design work on a research project search function.
As we understand it we provide a design approach to integrate the research project search on the main VPR page as well as a search results page. We will provide HTML code to be integrated with functionality developed by UTSA VPR staff.
Thanks for the opportunity! Looking forward to working with you!
UTSA Office of the Vice President for Research (the Client) will provide subject matter experts and other additional resources as needed to complete the project. The Client is responsible for the preparation and delivery of final and approved: page text; product image files; downloadable files.
DoingMedia, 1132 White Blvd, Murfreesboro, TN 37129 (the Contractor) will provide services to include:
• UI consulting and project management• Design comps and HTML code snippets
The Contractor will deliver services by February 8, 2013. The Contractor will stay in communication with the Client regarding all aspects of the project.
doingmedia.net | 171 Claywell Drive | San Antonio | Texas | 78209
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Contract ExampleOur quote for this project is detailed below.
UI consulting and project management $ 350.00
Design comps and HTML code snippets $ 400.00
Sub Total $ 750.00
Project Fee (10%) $ 75.00
Total $ 825.00
Quote does not include developing search functionality or APIs to search database.
Project fee will be calculated and invoiced according to the following schedule: (These are proposed project milestone dates.)
Amount Milestone Schedule
$0.00 Project Completion Week 0
Terms are NET 21 days, unless otherwise noted. As further consideration, the Client will allow the Contractor to use examples of the finished project for promotion purposes.
The Contractor's services for this project will be deemed a "work-made-for-hire" within the meaning of the U.S. Copyright Act of 1976. All rights of ownership for the Contractor's delivered product or service on this project will be transferred to the Client.
DoingMedia LLC is being engaged as an independent contractor by the Client and as such, will make no claims for insurance, worker's compensation or any other employee benefits offered by the Client. The Contractor acknowledges responsibility for all taxes, fees or assessments due with respect to compensation for this assignment. Furthermore, the Client shall have no control over the methods employed to provide the deliverables as stated above. The Contractor is solely responsible for providing the labor to provide said deliverables and retains the right to hire and fire assistants as needed and shall treat those assistants as the Contractor's employees. The
doingmedia.net | 171 Claywell Drive | San Antonio | Texas | 78209
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Contract ExampleContractor is free to work for any other firm or person simultaneous to this project.
In the event that the Contractor fails to provide the full services described above the Client may terminate this agreement and pay only for work completed up to that time.
This offer will be assumed null and void if this document is not returned via email ([email protected]) indicating agreement to its terms within 10 calendar days of the date of this proposal. This agreement is governed by the laws of the United States and the State of Texas.
Thanks for the opportunity! Looking forward to working with you!
Regards,
Todd O'NeillManaging DirectorDoingMedia171 Claywell DriveSan Antonio, TX 78209-3341
doingmedia.net | 171 Claywell Drive | San Antonio | Texas | 78209
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Invoice BasicsYour Name and AddressClient’s Name and AddressProject NameProject NumberP.O. NumberPayment Terms (Net 30)
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Attention: Janice DelucaContent Manager
Nissan Motor Company4321 First StreetFranklin, TN ZIP
Date 11/20/14
INVOICE NUMBER: 2014011
P.O. NUMBER: 12345PROJECT TITLE: Twitter Campaign Content
Description Quantity Unit Price Cost
Client Meetings 3 $ 75.00 $ 225.00
First Draft 1 $ 500.00 $ 500.00
Final Draft 1 $ 500.00 $ 500.00
Content Schedule Matrix 1 $ 250.00 $ 250.00
Subtotal $ 1,475.00
Tax 8.25% $ 121.69
Total $ 1,596.69
TERMS: 30 Days
EIN:53-5634789
Thank you for the opportunity!
1301 East Main Street, Box 58Murfreesboro, TN 37132-0001
T (615) [email protected]://www.doingmedia.net
Invoice
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InvoicesBe Prompt
Be CorrectDates
Rates
Hours, Overtime
Dollars - Fees and Expenses
Tax I.D.
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Mind Your Money
Invoice Early - Pay Late
Stick to a Budget
Save for a “Rainy Day”
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Banking
Business Bank AccountCredit Unions can be Cheaper
Credit Card for BusinessEstablish Good Credit
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Spending Your Money
Business Expenses
Marketing Expenses
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OverheadOffice Rent Or Home Office Costs
Utilities & Phone & Internet
Computers & Software
Marketing Materials
Hosting, Domain, Subscriptions
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Taxes
Schedule C
Quarterly Estimated Payments
Schedule SE - 15% Of Gross
Home Office - Form 8829
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InsuranceHealth
Lower Cost = High Deductible
Disability60% monthly income
Life3 - 5 Times Annual Income
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InsuranceAuto
Non-Owned Auto/Rental
LiabilityBased On Exposure
Business PropertyRider On Homeowner/Renters Policy
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Insurance
Small BusinessIncorporates Many Policies In One
General Liability$1-2 Million Minimum
Errors And Omissions“Oops” Insurance
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Figuring Your RateSalary
Expenses
Profit
Days You Can Work
Minimum Billable Hours
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Calculate Your Hourly RateAnnual Revenue
Annual Salary + Annual Expenses + Annual Profit = Annual Revenue(40000 + (40000 x 50%) + (40000 x 20%) = 68000
40000 + 20000 + 8000 = $68,000
Billable Hours365 days - (vacation + Sick Time + Weekends + Admin Time) x Daily Hours
(365 - (10 + 5 + 104 + 8)) x 8 = 1904(365 - 127) x 8 = 1904 hours
Hourly Rate Annual Revenue ÷ Annual Billable Hours =
$68,000 ÷ 1904
$36.00/hourFREELANCERS UNION “HOW TO GET PAID WHAT YOU’RE WORTH”
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Earning Your Money
Work For Your Rate
Work For The Money?
What The Market Will Bear.
What The Client Will Pay.
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Getting Paid
Invoice, Invoice, Invoice
Charge Interest
Offer Discounts
Be persistent - It’s Business!
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Raising Your Rate
Can Increase Desirability
Can Reduce Your Customers
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Getting Money
Savings (Grad Gifts, etc.)
Banks - VERY Difficult
Credit Cards - VERY Risky
People - Uncomfortable
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A Real Job
Part-Time Work
Temp Work
Family Business - Work For Dad
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Getting Personal
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Your Support SystemSpouse / Significant Other
Family
Friends
Peers
Getting Personal
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The Final Word?
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Find aJob that you Love
and you’ll Never Work another day in Your Life.
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Resources
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Tennessee Secretary of State
Internal Revenue Service
Rutherford County Clerk
Important Offices
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Freelancers Union
NOLO Press
Legal Zoom
MTSU Small Business Development Center
Score Nashville
Resources
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Freelancing 101: Getting Started On Your Own.
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