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So, here's what I did when I dumped a (well paid) full-time job in order to start my own company/freelance full-time: * Took advice from people already doing it * Looked really hard at my living costs, savings, etc, and figured out that, probably, I could survive for 6 months or more without an income * Made sure I had some work (a bit of repeat work, and some other projects) lined up. * Spoke to as many other people as I could (I'm lucky, I have a solicitor and accounts in the family, as well as someone who started a company which now employee >5 people) Talking to my wife about finances and stuff was a big deal, as she had just decided to go part-time in order to study. But we did the sums, and realised it would have to go really badly, and really we had enough of a cusion that I could find a paid position if it didn't work out. Here I am, 18 months later, still paying the bills, still with enough money to live comfortably, and still working freelance. There are times when I'm scared stiff about money (I don't think this will go away) and other times when I'm working 10+hours 7 days a week, for a month or two at a time. I had a death in the family this month, which knocked me off schedule, and had more of an impact that I'd like to admit on my productivity, but I communicated with clients that, unfortunately, their projects were going to be pushed back, and it's been ok. Even when my second project was 2 months late, nobody complained. The client was paying a fixed-cost, so they essentially got two months free. If you're going to do work fixed cost, do not be afraid to hold your ground when you quote for it. I sometimes even quote a little high because I know I'm really rubbish at doing estimates, and it hasn't got better in time. You know other people are going to be late with key information and decisions, and there will be somethings that you miss when you first quote, but keep communicating with your clients and alert them early when things don't go to plan, and most people will be fine - and the rest you probably don't want to work with anyway. |