Before you switch to a freelance career

You have friends who are freelancers? Envy them? The truth is they envy you sometimes. At least you have a fixed income; they don't. Worst still, they have to chase for their paycheck.

And these are just one of the many challenges of freelance business. Before you jump into it, check if you have these basic qualities in you:

• A genuine passion

"The most powerful weapon on earth is the human soul on fire", so said Ferdinand Foch, French Military Strategist. When you are fire up for something, you can burn down walls.

If you have not been active in what you are passionate about, it is probably just a spur of the moment thing. You will give up easily when things don't go smoothly as planned.

• The right skill

In the creative industry, you need talent more to excel. A good example is Leonardo Da Vinci, a self-taught painter. But if your plan is to freelance in the corporate industry, say as a HR consultant, a relevant education and a proven track record in your practice are important.

• The business mindset

As a freelancer, you might be operating from home but still you are running a business. In fact, you need to work doubly hard because you are the admin, finance and marketing person all in one. If you have been a procrastinator in both your personal and work life, stay away from freelancing.

• The risk-it-all attitude

Going into freelancing full-time is more apprehensive than changing to another office job as the prospect is less certain. You are not guaranteed a steady income. Your CPF contribution stops, so are your medical benefits. You are no longer protected by the Employment Act.

If the thought of these situations unsettle you, remain in your comfort zone until you are ready.

Now that you think you have what it takes to be a freelancer, here are the three basic rules to keep in mind when preparing for a freelance venture.

1. Don't put all your eggs into one basket

When you bank your hope on freelancing to survive, you will be preoccupied with success.

Most freelancers enjoy what they are doing because it is their hobby. When the prospect of success becomes a pressure, freelancing is no longer a joyride. For practical reason, it is wiser to hold on to your day job while freelancing.

Consider all aspects of your situation carefully. Never resort to freelancing for the feel good factor of being a boss or to escape from an unhappy job. Even if you have the right skill, your motivations are wrong.

If you don't have the passion, you will succumb to the challenges abound in freelancing. You may end up unhappier.

2. Be prepared to accept changes in your life

Once you begin freelancing, you will have less time for other things in life. If you have a day job, organise your time well so that you will not be stressed out and compromise your performance in both jobs. If you have planned to pursue freelance full-time, the stress level can escalate with each passing month as bills arrive punctually but not your freelance income.

Depending on your credentials, your earning may be lower than your past salary. Some freelance careers also have a higher start-up cost than the others. To avoid depleting your saving, find a part-time that is less demanding so that you will still have the time and energy for your freelance work while having a backup income.

This will ease your transition from being employed to becoming self-employed. At the start, you have to manage your lifestyle to accommodate your passion. My friend had contemplated for years to become a full time novelist.

At first, she could not forgo her lifestyle. Now, she is penning her first novel while working part time. She is honest to herself before she made the move.

I worked part-time too until I have sold enough articles to live comfortably.

3. Listen to what your family have to say

If you are married with children, freelancing on top of an existing job takes away time with them and freelancing full-time can add financial burden on your spouse.

Either way, you will need the full support from your spouse so that you will not face the problems alone when they arise. If you go ahead without addressing your spouse's concern, the "I-told-you-so" issue will follow when your freelance plan fails. Freelancing can also create tension among family siblings whether you are single or not. Fairness will be questioned when family responsibilities are not equally shared as a result of your freelance work. While it is true that you cannot please everyone in what you do, you wouldn't want to upset your loved ones.