[burn_cycle]

This is really good advice. In addition:

1) Your network will be your main source of work. I've been freelancing for just over a year and every single job I've had has come as a result of relationships I made when I was in full-time employment.

2) In terms of billing do not be afraid to charge a lot more than you would expect to make if doing the same work as an employee. You'll get better at this.

3) It also helps if you can save a few months worth of money before hand. I've found that it helps psychologically when negotiating if you know you don't need to take a job. In practice you will (ideally) a fair amount of what you are offered, this can be because some jobs simply aren't worth taking and the opportunity cost of a mediocre pay-day.

4) Take time off when you can and always sleep well. You will switch between periods of no work and periods of too much work. Relax during the former so you are ready for the latter.

5) Know your stuff and work hard.

[passiveincomelg]

IMHO "Know your stuff" in this case means specialize (in tech) and find a niche (in an industry/domain and the market/clients you work with). Speaking from experience of doing the opposite for the better part of a decade. Cannot recommend. Would not do again.