5 Things to Do Before You Quit Your Job to Freelance Full Time

Now that I've been a full time freelancer for a while, I'm able to think of so many things that I wish I had done before I took the plunge. I was caught off guard by the success of my business and quit my full time corporate job working for a Broker/Dealer in the financial industry way before I was actually "ready." And while I would do the same thing over again, there are a lot of things I wish I had done differently like:

1. Go to the dentist before you leave. Chances are you won't continue your dental plan when you leave your job, so go ahead and get a checkup, a cleaning and any fillings you need. There is nothing more daunting than a dental bill if you opt not to carry dental insurance--and even if you do carry dental insurance, many of them have a 12 month waiting period for the expensive stuff.

2. Stop taking vacation days. When you don't take your vacation days at most jobs, they add up and you get a check for them when you leave. This little slush fund can be a great addition to your emergency savings while you try to get your freelance business producing an adequate full time income.

3. Save more money than you think you need. Your current business trends may indicate that once you freelance full time you can easily double if not triple your current income, which may get you on track with your corporate income, but there also may be more expenses that you will face as a full time freelancer. COBRA and individual health insurance costs can be more expensive, you have to take out more of your money for social security, you may have clients who pay slowly, new business checking accounts that hold checks and Paypal balances that transfer slowly. You may even get stiffed by a client. You must set aside more money than you think you need even if you don't think business will be slow--if you don't have a cushion, you are going to run to credit cards and that's not cool.

4. Be careful what you wish for. When I left my corporate job, I had one steady gig that paid biweekly. I cherished this gig because I knew I could rely on the income and it made me feel safe in leaving my full time job. Once I was full time it didn't take me too long to realize that I actually hated doing the job. It was a great position...for someone who wasn't me. I eventually resented the work and found that it messed with my creative juices. I turned in my notice and have been so much happier since. So, fif you think you want the predictability of a steady freelancing gig, be sure to be discerning about what kind of steady gig it is.

5. Accept that your schedule and discipline will be unhinged for the first 3 months. It is much more difficult than you might expect to work full time for yourself--and not because you might lay around and do nothing--but because you might never take a break. Your body and mind may not want to work the hours you were forced to as a corporate drone. You might be a late night writer with a midnight personality. If you force yourself to work hours just because they seem acceptable and you are used to them, you might find you have difficulty becoming inspired, focusing and sleeping at the end of the workday. Take it easy on yourself. Set daily goals and don't worry about what time you get them done--just get them done. As long as you complete work the day before it is due, you won't ever have to worry about complying to a time-specific deadline.