American workers leave an unprecedented number of vacation days on the table (54% at the end of 2019). So, as a freelancer, will you be able to take vacation? And what about healthcare?
In this episode, Nicki and Kate talk through benefits you may typically get at a full-time job, including healthcare, vacation time, and even perks like a snack wall, and how you can build those benefits into your freelancing business. It all comes down to doing the math!
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Looking for closed captioning or a transcript? Check out the episode on YouTube!
A Sneak Peek at the Episode
[1:10] When working a full-time job, there are a ton of things they promise you to ensure that you come on-staff and stay on-staff. Nicki and Kate discuss how they do not miss those benefits, as well as how one of the biggest concerns for freelancers is that they are “giving up their healthcare.”
[2:45] Nicki explains that people should remember that companies are making you pay for those benefits, one way or another. It either directly comes out of your salary or they offer you benefits so that they don’t have to pay you higher as a salaried employee.
[5:12] As a freelancer, you can be both the employer and employee, and this comes with paying for your salary and your benefits. Kate notes that you have to do the math so that you can cover the expenses you need as a business owner, which includes healthcare and more.
[8:02] The key is to do the math. Once you start feeling scared about the cost of healthcare, look at what your on-staff salary would be and look what your freelance salary would be. After figuring this out, you can then know the number of clients and the projects you want to take on so that you can have the cushion to pay for those benefits you would normally have at an on-staff position.
[11:00] Kate dives into the details of opening up a 401k as a freelancer, and all it entails. She also emphasizes to speak to an accountant or taxperson that specifically works with freelancers if you have questions and they can help with the math and planning.
[16:04] Nicki notes that it makes a ton of sense to talk to a financial planner or accountant. As the CEO of your business, you have to ensure that you’re going to be taken care of and become savvy about your finances. However, CEOs don’t always know everything about the financial side of things, which is why they hire others with expertise in those areas to help them out (and you should do the same!).
[19:25] As far as vacation time goes, if you think that you’re going to lose your clients forever because you take time off, that’s not true. People will understand that you have to take time off. Guard your time and value your time. If you value yourself and your time, your clients are more likely to value and respect your time.
[24:15] Kate mentions that when you decide to leave for vacation, in freelance, all of your loose ends can be tied up before you go. When you come back from vacation, you can ease back into work rather than having a ton of built up emails or a boss waiting for you when you come back. The amount of time off is a lot greater than when you’re working salary in an office.
[30:25] Nicki talks about how some full-time offices, especially tech offices, try and replicate the feeling of being “at home” for their employees. However for freelancers, you’re already home. Your home is already as fun as you need it to be, and you’re not having to put in 14 hour days at the office just because it’s a cool office.
[31:30] The hosts wrap up by saying that there are some benefits to working in an office with having that sense of community. As a freelancer, there is a way to work around it. Once we are able to socialize with people, you can meet people for lunch at workspaces. What matters is that you have the ability to tailor your schedule to how you want.
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About the Build Your Copywriting Business Podcast
Ready to turn your love of writing into a successful copywriting career?
Join professional copywriters Nicki Krawczyk and Kate Sitarz to get the tips, tools, and training to help you become a copywriter and build a thriving business of your own. Nicki and Kate have 15+ and 10+ years of experience, respectively, writing copy for multi-billion-dollar companies, solopreneurs, and every size business in between.
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Ep. 48: Mistakes to Avoid When Pitching Freelance Clients
Last Updated on May 11, 2023
