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Business Acumen for Freelancers

Business Acumen: Freelancers

The gig economy is booming. Though popular even before the pandemic, freelancing surged in the past year. In a survey held in August, the Pew Research Center found that the majority of respondents took on short-term projects to supplement their current income or save extra money. In fact, many are thinking of freelancing full-time due to added control over their schedule and the projects and clients they can choose. If you're one of those individuals, know that doing so requires a keen business sense. After all, freelancers can be considered business owners who offer their skills as services to clients. Doing so can be especially challenging today as the world navigates its way out of the pandemic. Fortunately, you can hone your business acumen by focusing on certain key areas of your expertise. Below are a few tips to help you get started.

Conduct market research

Successful freelancers are familiar with the market, understand its gaps, and offer services to fill them. With remote working on the rise, you can also cater to clients outside your area. For example, a little search on Google can inform freelancers with math, finance, or economics majors that