I almost didn’t pursue freelancing

I almost didn't pursue freelancing because I was so tripped up by things like taxes and healthcare.

It felt confusing as heck and EVERYONE had an opinion, which made it even worse.

That was, until I learned I don't have to know everything.

I let go of the expectation that I needed to have it all figured out, leaned on professionals where possible, and learned as much as I could as I went.

Nowadays, it's not unusual for me to encounter would-be freelancers who have the same objections as I did back in the day.

So if I'm talking about you, I suggest you keep reading. 😉

Here are a couple of the areas most people are afraid of, and tips for how you can move past the fear to focus on what really matters: building your business.

➡️ Healthcare coverage

If you are leaving a full time job, then you will lose your current coverage. Depending on your situation, you likely have more options than you realize and it may not be as expensive as you think.

Did you know there are health insurance brokers who can help you navigate this very confusing landscape? The good ones will listen to your situation and put together the options that will work best for your situation. Find a good broker and develop a strategy before leaving your job (when possible).

➡️ Financial & tax implications

First and foremost: make a budget and know your numbers. Get a budget app to help with day to day financial management (YNAB is great). At the very least you need to be aware of your finances.

Open a business bank account. Give yourself a budget for business spending. Trust me, you need a budget because you will always find ways to justify spending more...

Find a good CPA who can help you understand tax implications, how to structure your business, how to file quarterly taxes, etc.

>> Instead of trying to save a few bucks by fishing around for answers on the internet, please just hire a CPA, pay their hourly fee, and get actual professional answers! Everyone’s situation is different and knowing the answers that are right for you will give you peace of mind to focus on building the business instead of stressing and wondering if you have things set up correctly.

And, if you’re really invested in your success, take it up a few notches and connect with a Financial Advisor who can help you put together a plan for your future dollars. This is a power move and will pay off. 💪

Whew! This post is already long, so I'll leave business insurance and legal agreements for another day. 😅

❓ What is holding you back?