The big day is almost upon you. You’ve gotten all of your ducks in a row and have done everything you could to prepare yourself to take the big leap from employed to free(lance).
You’ve dipped your toe in the freelance pool, working on side jobs on the nights and weekends. You’ve set up your business structure and got yourself an accountant. Your freelancer profile is updated, your business cards are on the way, and your website is ready to launch. But you’re still missing that one last minor step…quitting your job.
Everyone has their different reasons for making the leap to independent work. Quitting your job doesn’t have to be as scary as it sounds, and of course it should be done on good terms. You may even find that your employer is not only supportive of you going out on your own, but would like to continue working with you.
Here’s how you can turn your employer into your first client and ease into freelancing full-time.
1. Carry Through Commitments
Being aware of your timing and how your departure impacts the business you’re working for is crucial in making your transition smooth. If you leave in the middle of your company’s busiest season, no matter how friendly you are with your employer, they’re going to lose trust in you.
Make sure to carry through any big projects you’re currently working on. Once completed, if you see more on the horizon, start planning out the big talk immediately so you’re not delaying your own plans too long. Here’s what you can do to set your team up for success:
- Document your processes far in advance of leaving so that anyone could take over.
- Organize all of your files and create a key that anyone could understand.
- Prioritize all of your projects and activities and assign a ‘time to complete’ to each just so your company will clearly understand what you do and why it’s important as you plan your transition.
2. Start with the Solution
At this point, you’ve called a meeting and your boss probably knows what’s coming. After explaining why you’re leaving: to work for yourself and pursue your dream of {fill in the blank here}, quickly present how you think you can continue working together. For example, perhaps it makes more sense for you to work with them on a higher strategic level so they can hire someone to execute part-time or at a lower rate, or visa versa.
By showing that you’re thinking strategically about what’s best for them, they’re going to be much more apt to work with you. Plus, you probably know the business inside and out at this point — the best solution may be very obvious once you start talking it through.
3. Present a Well-Thought-Out Timeline
Make a timeline that works for both you and the company. Set a plan and present it to them with everything outlined. This way, you’re making it easy to move forward on the decision. Be confident, but not overbearing. Remember, ultimately it’s their decision whether or not they hire you after you leave as an employee.
You have to give them a proper time table and rate for consulting. Otherwise, you’ll get taken advantage of by even the nicest of people.
4. Get Smart About Your Finances
Consider also creating a financial timeline for yourself. The minimum amount you should save for yourself before leaving full-time is about four to six months of $0 income living, whether or not you’re going to continue working with your employer.
We should apply the Parkinson’s Law to how we spend our money:
The Law usually expresses how you spend your time, but this case is that you usually spend money according to how much you currently make. There are people who make $100k+ and can’t find money for a wedding for our friends. That’s ridiculous. Start being proactive with your bank account before you leave so you don’t have to take jobs you don’t like or miss out on real life fun.
5. Be Ready to Talk About ROI
Have stats and figures based on the results you’ve produced in your existing role and be ready to make the argument that hiring you only for those activities alone both saves money and makes money for the company. Were you the only subject matter expert on the team pertaining to your role and responsibilities? Demonstrate this during your meeting.
6. Start Networking NOW
It’s a good idea to always take a relationship-first approach to business and well, life. But if you’re planning to leave a full-time job, it’s smart to start talking to connections that you think will refer you to your first freelance clients.
Reach out to friends in the industry, let people you’ve worked with in the past know you’re looking. Research communities around freelancing (such as Reddit or Facebook groups) and attend local events to connect in real life. These opportunities will allow you to meet both potential clients and seasoned freelancers who will help you down your journey.
The people close to you will reinvigorate the fire in your belly and it’s important not to let your drive whither away.
7. Be Thankful
Show your appreciation for the opportunity that the company has provided you with. Even if they do not wish to continue working together, you’ll end things on positive terms no matter what.
This way, if the company doesn’t see the value in hiring you as a freelancer, they’re much more likely to be an ally and referrer of future work. Maybe even a partner!
