Fed up of the rat race? Have a burning desire to be your own boss? I think everyone has had thoughts of going freelance or setting up as self-employed at sometime or another. The reality of actually doing it is another thing though.

Before you jump head first into freelancing, there’s a few things you should consider…

1) Can you afford it?
Launching yourself on your own means you’ll need to adjust to several months of living on a very tight budget, before the business rolls in.

Prepare for this by saving up at least six months of rent and expenses. Also, consider working on your business in the evenings and weekends around a job, so that you’ll have an income until you decide to launch full-time.

2) Will you be lonely?
I’ve touched on the loneliness you can encounter as a freelancers before. If you think you’ll miss office life, consider renting a communal office space, or try to attend some Jelly events. It’s also worth signing up for a number of networking events in the early days to meet others in a similar situation.

3) Are you prepared to promote yourself?
The British are notoriously bad at blowing their own horn, but being confident about your product or service is essential in building business. Share achievements on Twitter, great feedback on your website and new products on your blog. If you don’t, how will everyone else know?

4) Have you got a support network?
Freelancing might be an independent business, but you still need support. See my post on five people every freelancer needs in their life for more information on the kind of people you’ll need.

5) Do you have the time?
Some of the best, and most successful, new freelancers are those that will work evenings and weekends to make their business work. That’s not to say you need to spend every night and every weekend working (please don’t, you’ll go stir crazy. And be very dull company.) but that flexibility can seriously boost your career.

Are you a freelancer? What advice would you give to someone considering doing it?

This post is the second in a series of 30 for the 30 Day Blogging Challenge. See other 30 Day Blogging Challenge posts here.