I started as a freelancer in 2006 so I understand when you can’t see a difference between running a proper business and freelancing. While you’re not under obligation to transit, you just must be aware of the limitations.
While it is interesting to be a freelancer, you could truly make a lot of money, what goes through the mind of a business person includes money but it’s still a lot deeper than that. With setting up a business includes so many additional responsibilities that would be totally unnecessary if all you did was freelancing.
You just work from home or from a co-working space. Since most freelancers already know what it means and the advantages, I will share the limits it places.
1. It limits opportunities you can take. Setting up a proper business builds trust in you and what you do. Some organizations or even individuals won’t do business with people who look like they could suddenly disappear without trace or much to look after.
2. It limits your growth potential. What I could do alone is nothing compared to what I do now with a total number of 5 full time team members and a fully functional structure of people taking responsibilities. My print manager took a leave recently and I knew for sure how important it is to have that role active.
Our social media reach and engagement grew 10X just because I got someone on the team as COO to coordinate all that. Freelancers think about how they can SPEND all they earn alone without considering how what they earn will grow when they set up the right business structure.
3. It limits your impact. Top of mind while I was in paid employment was how many people I would give jobs when I grew my business. If Nigeria needs anything right now, it’s creation of employment opportunities.*** From my days in freelancing I used to say to myself, “Any business you can do alone is a small business”. But let’s balance this by saying whoever started the idea of freelancing is a genius. It is one of the finest ways to start out in life, you learn how to be hardworking and you build up skills. For example, in my business, there is no part of the process I can’t handle better than everyone around me not because I brought it from heaven but because I spend and have more hours working on them than they could imagine.
When I sleep, I think about it. When I’m awake same thing. One of my role models, Patrick Bet David always tells us to outwork and out-strategise and these I learned from the days of freelancing. I have contacts in almost every market in Lagos which surprises my staff and my wife too. Whatever we need, I know who to call to supply. I got 90% of them from the days of freelancing and “hustle”. However, that mode was but for a moment. The dream was bigger than that. For me, having a business brings fulfillment of this dream – Creating Jobs. I love being around my people. There’s no boss here. That is the only issue I have with Nigerian companies. There are too many bosses to worship, from the least to the greatest. I decided whenever I set up mine fully, there would be no gods, only colleagues. We’ve had issues and I would tell them the options to take, Nigerian company style or my favourite enjoyment style. They always adjust their ways and we all move on like nothing ever happened.
That’s the kind of company we run, and when we grow bigger, queries will never be stored in anyone’s file. Whoever had to go will already know as stated in the procedures, whoever was forgiven is forgiven, query letters destroyed.How about managing the people? I love it! Coaching, reprimanding, encouraging, crying together, laughing together, arguing, building competencies… I love business.
As it were, as a team, we’ve decided to launch into another level based on our collective competencies, not just mine. This would mean more work and more money for everyone. This is the beauty of running A BUSINESS!
Freelancers, don’t be perturbed. There’s nothing wrong with it, but if you desire the higher level, get ready for a change of mind because it’s a totally different ball game.
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