Freelancing isn’t for everyone – or every career. If you prefer working in groups, freelancing is not for you. Jobs that fit into freelancing are the ones that allow you to work mostly by yourself, like being an interior decorator or writer.

Don’t get hung up on names. A freelancer gets hired to do one assignment at a time. A contractor is someone who works for a certain number of weeks or months. A part-timer works for 10-20 hours a week. And temp workers, well, work temporarily to replace fired part-timers or other workers. Although, the differences are small, they’re still important. Beware of so-called part-time jobs that require you to work 32 hours a week, but leaves too much work and little benefits (not to mention the tendency to be fired with little or no warning).

Don’t leave town. Stay local. Freelancing is about connections and the best ones you’ll have are local. Another perk: you get paid faster.

Hire a freelance accountant. When you freelance, time is money. You can make more by spending bulk of your time doing your job rather than trying to deduce deductions (that sometimes we don’t even understand). A freelance accountant understands the needs of a freelancer. They also charge less compared to full-time accountants.

Start at the end. Because they have no co-workers, freelancers are lonely people. Most of them get excited with new people trying to break into the freelancing industry – sharing advices on how to be successful and handle bumps along the way.

Source: Money Talks News

Photographer. There are different kinds of photographers. There are those who photograph weddings to those who go to remote regions to take photos for news features. Fees are often paid per diem and travel is sometimes reimbursed.

Writer/Copywriter. Freelance writing responds to different needs – news, ghostwriting, or even writing grant proposals. As for copywriters, companies are concerned with a freelancer’s talent to make the company shine with a great marketing pitch. Assignments are often given on a per project basis.

Graphic artist. Freelance designers are often paid by the hour. Projects can include designing a company’s visual materials – ranging from logos to promotional displays.

Interior designer. Freelance interior designers have the option to focus on commercial spaces or private homes. New clients are often found through word-of-mouth referrals and the workload can be unsteady.

Web developer/IT consultant. In this time when companies and firms compete for web exposure, the demand for web developers is quite steady. Most companies are also looking for IT consultants to help them stay ahead of current tech trends.

Online community manager. As the focus on social networking intensifies, more and more companies are looking for community managers to update and manage accounts like Facebook or Twitter on behalf of the company, including discussion boards and the like.

Source: MSN

While these would be more than enough for many people to give up the desk job in an organization, one thing that many overlook is the sustainability of freelance work. Here are some of those things.

Expertise. You have to be the best in what you do to be able to get a degree of sustainability. So beef up your skills and spice up your portfolio.

Timing. The nature of many freelance work is governed by seasons as well. There will be lean months and hectic months. Be sure to pace yourself well and have enough saved for the rainy day. Even some of the best will have down time.

Service. Be sure that you will be able to provide top-notch service. Be professional. Many clients will act like they own you so you have to manage them to avoid being on the end of a sucky deal (e.g. being forced to work beyond the pre-agreed scope). Still, you have to be able to make your client valued through your service.

Relationships. Some freelancers overlook the long term. Some projects might be able to give a huge payout but freelancers fail to capitalize on the chance in making one project the start of many others. Pricing concessions, top-notch service and follow-through are critical.

Compliance. Another thing that freelancers overlook is that, by working freelance, you have to deal with some things on your own. Government-mandated stuff like bookkeeping (you’re basically running a business) and tax records will be your responsibility.

Thankfully, expenses such as books and whatnot are generally covered by work but the larger expenses such as my computer and routine expenses such electricity and Internet are on me. Besides, I use them for a lot of other things than work anyway so it’s quite unethical to charge them to work. (Though you have a choice in declaring them tax deductible since you use them for work.)

Utilities are routine so it’s easy to budget them on a monthly basis sometimes some companies are willing to subsidize the expenses at least for work hours in telecommute positions.

In cases of these tools of the trade, it’s always great to look at the financials. Things like depreciation and wear and tear really factor in since you’re the one paying for it. My old laptop was a workhorse, bought it for $1,200 about three years ago and decided to give me fits. Three years is bad at all for a piece of electronics that had been practically in use almost everyday of the year.

That’s like spending a dollar a day for it. But that’s lucky. Most computers have a 2-year lifespan. But even at that calculation, it’s a $1.65 a day. Given that I earn more than that a day, I’d have to say that laptop has given me a pretty swanky ROI.

When it conked out, however, that meant I had to replace it out of pocket immediately. It’s a good thing that I was really saving up for a replacement already so I had the funds readily available. You see, wear and tear will be part of it. And tools of the trade are essential to earn a living so there’s no excuse not having contingency plans when they break down.

A good plan is to make sure that you know the real impact of the tool to your trade. Here are a few things that you might want to take note of in .

1. Warranty - How long is the warranty for the item? This is usually a good predictor of the lifespan of the item. While many items would blow past the warranty period and still work perfectly fine, the warranty also determine the “protection” you have from having to possibly spend on a new one just in case it conks out.

2. Serviceability - How easy will it be to have the item replaced or repaired? Do you have to spend on shipping or travel to the nearest service center? Some take a week to process and even up to a month to service.

3. Downtime – Just in case the item breaks down, how long will you be without the item? Will you still be able to function just in case it breaks down? This is one good reason to always have a spare. But for some high value items, this might not be viable. Still, do the math. Check if the cost of not being able to work have a bigger impact on your finances than simply opting to have a spare.

4. Replacement – Given wear and tear, you have to plan for replacement. It’s usually a good thing to start saving up for a replacement halfway through the expected lifespan or warranty coverage of the item.