Guide to Making the Jump from Part-time Freelancer to Full Time Small Business Owner!

Are you a freelancer? Are you currently working an in house job, while doing freelance work on the side hoping to some day make it your full-time gig? If you are, you should seriously consider starting/establishing yourself as a small business in order to get tax breaks, increased profit and an organized system for earning money.

One of the first things you should do in order to establish yourself as a professional, and get your services out there among the others, is to get a website. I don't mean "blog" I mean professional website, your own domain name, displaying your work, portfolio, services, credentials, etc. Most people are not impressed initially with a blog of your work, sorry to say. While blogs are fantastic, they're not included in what I call a business website.

If you're used to blogs and want complete control over the content on your website while still having a professional web design, you HAVE to check out Websitenabox.com. They offer free hosting, free domain name, exclusive design packages and their own custom software that lets you log in to your site and update/edit/add content and menu items.

Establishing any freelance gig(s) as a small business of some kind is almost always a good idea. Why? Because depending upon the type of small business you establish, you will profit big time at the end of the year for tax season, by doing nothing more than filling out a few forms that establish your freelance work as an actual "business." Also, contrary to what you might think, it is not very hard and well worth the small amount of effort.

It's even easier with websites that offer Books, Kits, Software and Forms
for easy and do-it-yourself business start up forms. Check out their Small Business/Startups Products

In addition to saving you money, starting a small business has many other benefits. First of all, you will organize your work more thoroughly ensuring that you keep track of all profit, income and expenditures. Second of all, establishing yourself on paper and legally as a business leaves your business entity open for investors. Now, you might be thinking..."Investors? Yea right!" But, you'd be surprised at the amount of money someone is willing to invest in a decent idea. Look at it from the investor's stand point...

Put my loads of money is a savings account and earn 5% or take a chance on a business owner, who has already proved they would invest in themselves and likely earn 10 times that in 5 years less or more.

Alright, now I'm just about threw convincing you to begin a small business if you are currently solo gig freelancer. Now, I will give you some tips on how to do it RIGHT.

Read my article on Tools for starting a small business for some more great information!

-Write a business plan. It might seem redundant, but trust me, it will organize your thoughts, organize your "business" and give you a better idea of how to truly earn a profit.

-Buy Quickbooks Simple Start. It's the simplest of the quickbooks small business accounting programs, it's very inexpensive, has limitless capabilities and is also incredibly easy to work. Just think, if you could really document and track the amount of money you make vs. the amount you spend, give yourself a budget and organize your earnings, how much easier will it be to turn a higher profit? MUCH EASIER. You'll know exactly what you need to earn to break even and/or earn a profit, while planning for the coming months/years.

-Fill out the forms, and get it done! Go to the Small Busines Administration website and see how easy it is and research what you're doing.

-Once established, keep ALL reciepts. Depending on the type of business you start, almost everything can be a write off.
Gas money to discuss the company plans with your family
Software
Computers
Hardware
Pencils
Office supplies
Electricity for the room that you do your work in
Phone bill
Internet billYou get the drift, make yourself a business entity and enjoy the benefits of it.

Last tip, an LLC (limited liability corporation) is just about the best route for any new business. Check out the basics of what it is, and see if it's right for you!

Read my article on Tools for starting a small business for some more great information!