Change Your Mindset If You Cannot Change Your Skill Set
By: Serene Chan
Tags: Talent, Upwork, Freelancers, Skillset, Careers

Photo by Bongkarn Thanyakij on Pexels

A friend of mine recently contacted me to ask if I know of any career opportunities that would be relevant to her skill set. She was in the administrative line of work before being made redundant by her employer. It so happened at that moment I was listening to a podcast where the two presenters half-jokingly said that their jobs might get replaced by AI because technology is taking over everything that people do for a living. Quite clearly, digitization and redundancy are now on everyone’s mind and lips.

People are coming to terms that certain jobs are getting replaced by software and automation. What has taken people by surprise is that the health crisis and the resulting lockdown have accelerated the pace of the digital takeover as companies are forced to do things remotely.

Over the last six months, executives have come to realize that technology has made remote working more feasible and they will exploit it to the fullest. Technology has made it possible to outsource projects to people living in another country to be carried out remotely on a contractual or assignment basis. The sudden shift has come as a shock to employees. They did not expect themselves to be made redundant so suddenly and struggle to get a job when they had been highly sought after and valued by their employers throughout their careers.

We are constantly exposed to well-intended advice telling mid-career professionals to invest in developing new skills. I am not surprised that these have been largely ignored until a crisis happens. But let’s be fair. It is easier said than done. Getting retrain for a new career is a tall order. Quite often, it is simply not feasible. People tell me that getting trained on a new skill from scratch is not practical and they are not willing. They enjoy what they have been doing for over a decade and they are not prepared to start all over again.

Is the end of the road for those who refuse to change? While technology is partly responsible for removing people from their current positions, it is also creating new opportunities especially for those entering into freelance. With a mobile phone, internet connection, a laptop, and a bank account, anyone can explore global opportunities in the comfort of their homes. Instead of working for a single employer, people could perform the same role on a contractual basis for multiple companies around the world simultaneously.

While freelance work lacks job security, the potential to earn more compensates for the lack of stability. Working on multiple engagements offer a more robust working experience than they otherwise could when they are bound to a single employer.

There are many online marketplaces out there that enable companies to post the requirements of their tasks and for individuals to bid for them with their proposals. There have been a couple of them that I have explored and considered when searching for resources to support a project. What I like about these platforms is that they democratize talent and increase the available options for companies and individuals.

Upwork

Upwork offers an online marketplace for freelancers and enterprises to connect. I find it is a good place for individuals that offer administrative support, research, editing, and graphic design. Upwork works by taking a cut of the pay. It takes a 20% cut for the first $500 earned from a single client, 10% of the next $9,500, and 5% on any amount that exceeds $10,000 [1]. The plus point about Upwork is that its commission structure lowers as the amount gets higher, hence it incentivizes individuals to aim for high-value projects.

www.upwork.com

Freelancer

Similar to Upwork, Freelancer allows individuals to bid publicly for jobs posted by companies. The innovative thing about Freelancer is that it allows companies to post contests for freelancers to compete and see who delivers the best job. This is both an interesting and debatable feature. Some individuals might see it as a waste of time because their incomes depend on getting paid for getting a piece of work done. Some people might feel that it benefits companies more than individuals. Nevertheless, participating in a contest offers individuals the opportunity to make contact, showcase their skills, and develop relationships. If a freelancer proves to be outstanding, the chances of getting repeat work and getting paid are significantly elevated.

www.freelancer.com

For people who have gotten used to job stability within a large organization, a change in mindset should take precedence before setting up a profile on a freelancing platform. It will take grit and an enormous amount of staying power. I believe taking the following approach will motivate me if I’m were to go into freelance.

Take a Strategic Approach in Serving Clients

The current economic crisis has heightened the feeling of uncertainty and insecurity. Doing freelance means that there is no monthly pay cheque that many people have come to take for granted. Having enough new assignments to keep money coming in will always be a concern, making it hard to plan earnings and expenditure every month. On the other hand, taking every new job can lead to pressure and burning out. Therefore, securing at least one to two clients on a retainer basis as quickly as possible should be a priority to generate a portion of stable income. Conduct research and zero in on a few promising clients by keeping a lookout for opportunities to cross-sell to enhance stickiness. Find out everything possible about them and invest effort in supporting their targets to increase the chances of being treated as a long-term partner instead of a vendor.

Think Like a Business Owner

The best thing about being a freelancer is that individuals have control in setting their fees. For first-timers, it will be a mistake to base it on their last drawn salary. Do the research and take into account what others are charging. Being the most competitive solely on price is not sustainable. If talented people short change themselves by commanding a low fee, they will eventually give up. Projects do not always go to the lowest bidder. It is worth positioning as a premium service especially when freelancers know their ability in delivering a superior outcome. Test the market, be flexible, and make the adjustment. Besides price consideration, freelancers should include cancellation policies and enforce upfront payment to ensure that they get paid for the amount of work done in the event of a cancellation.

In closing, there is no doubt a certain degree of risk for freelancers. I’m not surprised if there are companies who underpay for services, pay late, or even fail to make payment. But that should not discourage people from entering into freelance work. Those who struggle to get a permanent full-time job should not think of freelance as an outcome of no choice. It is important to look at it as an opportunity to earn more and acquire more experience than before. Who knows what opportunities they can lead to? With enough patience and perseverance, I wouldn’t be surprised that it will become a highly rewarding experience.

The opinions are solely my own and do not express the views or opinions of my employer. None of the ideas expressed are endorsed in any manner by my employer.

[1] Upwork, https://support.upwork.com/hc/en-us/articles/211062538-Freelancer-Service-Fees