The rise of the energy freelancer

Colin Manson is CEO of Xergy Using freelancers has been common practice, particularly among the creative industries, for many years. When you can’t find, can’t afford or don’t need specific skills full-time, the freelancer can provide the perfect solution. In fact, even if you can find and afford in-house employees, freelancers still present an attractive option because they can bring certain expertise when you need it most. The energy industry however has been slow to the party, typically preferring in-house teams comprising employees and contractors who are, to all intents and purposes, treated like employees. The tendency has been to hang on to talent and expertise, even through previous downturns, driven by the often lengthy and expensive process of getting them in the first place. This was possible when there was more fat in the system, but we’re now in an environment of wafer-thin margins. The fragile recovery from the deep and prolonged downturn has crumbled as the industry has had to cope with the coronavirus crisis and the collapse in commodity prices. Margins which were already under severe pressure are now almost unsustainably slim. Many companies are now engaged in a race to the bottom to try and secure and deliver enough orders to see them through the next crucial year. As a result, this reluctance to use freelancers may be about to change. Indeed, we are already seeing a shift in attitudes, even among the large, multi-national and historically freelancer-averse corporations. In the same way that lockdown forced companies into remote and flexible working, the shift towards using freelancers will be driven by the urgent need to move to a more variable cost resourcing model. Energy companies are faced with a dichotomy. Teams have been decimated by redundancies and restructuring but, with a freeze on recruitment, they must somehow find the skills needed to deliver the projects they do have on their books. And they must find the required experience and expertise in a new way that doesn’t incur high recruitment agency fees, HR and other administrative costs. Equally, the business environment and model are evolving rapidly with the race to net-zero and digital transformation. To remain competitive businesses are having to implement digitalisation strategies and demonstrate how their contribution to the energy transition and how they will operate successfully in a low carbon future. Transforming to a lower cost, lower overhead structure is key to facilitating these transitions and using freelancers is part of that. But you need to know how to find them, appoint them and on-board them as quickly and cost-efficiently as possible. Essentially, companies need a new way of accessing or finding talent as and when they need it. This is one of the many reasons we developed our transformational digital platform, Proteus. Initially conceived almost three years ago with the future in mind, Proteus allows companies to reduce costs considerably through facilitating a more flexible workforce. It enables data to be saved and used at the click of a button, skills to […]

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How to Make a Successful Career Change in the Post-Coronavirus World?

By Daniela McVicker The COVID-19 pandemic has an enormous effect on the job market, forcing many people to leave offices and work from home. However, this is not the worst alternative. Many people were forced to resign due to massive business shut-downs and most of them lost their main source of income. According to the report by The Washington Post , over 100,000 businesses that define America’s economy, have closed forever. As a result, thousands of people lost their jobs and now have joined the 20-million army of unemployed Americans. However, not only those who lost their jobs will actively search for new employment opportunities when the pandemic ends. Many people don’t plan to return to their previous workplace after the quarantine at all and consider changing the field completely. For instance, as USA Today reports , 1 in 5 teachers are unlikely to return to reopened classrooms this fall. You can only imagine how busy the already competitive job market will become as soon as the pandemicll. You can only imagine how busy the already comp ends. So, what can you do to stand out from the competition and make a successful career change in the post-coronavirus world? Let’s take a look at the basic skills and competencies to focus on. Build Up Your Skills with Freelance Projects Before the world had to face the COVID-19 pandemic, the gig economy was developing very slowly. In 2018, the number of freelancers in the U.S. reached 57 million with only a 3.7% increase over the previous five years. Today, the situation has changed. The pandemic has forced people across the globe to use their skills in a different way and explore freelance projects. For many, this became an opportunity to earn money and stay afloat. As a result, many of those who started exploring the gig economy during the quarantine, now plan to explore this path further and remain independent contractors. However, if you still plan to find an in-office job after the pandemic, you can still benefit from freelancing to build up the skills you will need for your future job. Here’s how you can do it. Let’s say you would like to get a position as a content writer/manager. You can start by exploring job ads for this position on LinkedIn. When you find a position you might be interested in, go through the list of requirements and responsibilities: Using this list, you can evaluate the skills you already have, find weak spots, and start looking for freelance projects that could help you improve them. For instance, you might be interested in improving your writing skills by writing reviews of different online services, like Grabmyessay review here, or find a gig that offers you to run a blog on WordPress. Choose freelance gigs according to the field you plan to work in. It will help you stand out from the competition because you will already have all the competencies and experience that others might not have. Work on Your Tech Competencies When the coronavirus pandemic began, many […]

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Employee or Freelancer: Which One Do I Need?

Opinions expressed by Entrepreneur contributors are their own. You need help, but you’re trying to figure out whether it can be on a contract basis or whether you need to payroll someone. This question comes up a lot and it has important implications for working relationships. Do you need an arrangement with a contractor or do you need to hire a regular employee? With millions of freelancers in the U.S. alone, you have your pick of qualified candidates. Take a step back and do some homework to figure out whether you truly need an employee or an independent contractor. When you have an employee on payroll, you’re in control of what the working relationship and schedule look like. As the employer, you’re most likely paying them on an hourly or salaried basis and taking out taxes. Most employers, of course, are going to offer a benefits package to their workers as well. Contractors, on the other hand, are being paid a flat fee per project or an hourly fee to work with you, but are not receiving W2s or getting benefits in the vast majority of situations. (To learn more about IRS designations and tests used to help you determine whether the working arrangement you have in mind really fits legal definitions, check out this resource page .) There are a few big benefits of hiring a freelancer: Only pay for the work you actually need No benefits payment unless you want to offer it Can seek out competitive rates in the marketplace and match your budget and desired experience level with a like-minded freelancer Access to talent all over the world (which you’ll also get if you hire a remote employee) Here are the things to consider when deciding whether or not to outsource to a freelancer or bring on an employee. Working arrangement Freelancers, by law, need to maintain autonomy in how they do their work. For this working arrangement, flexibility is the key. For most contractor relationships, the freelancer will be working on their own equipment on their own schedule, meeting deadlines on projects as needed. In general, freelancers will remain available for scheduled calls but are not “on-call” during typical working hours the same way that an employee would be. If you need someone to be available during your set hours daily, meaning that they’d have to block off their entire day to work when the rest of your team is working, this usually means an employee/employer relationship. And in the U.S., that means payroll, W2, and Social Security/ Medicare taxes paid as part of their paycheck. If you’re open to a more flexible arrangement and truly want to treat this person like an independent contractor — where they control how and when they do their work — a freelancer is the better choice. Just don’t blur the line. Decide what best suits your needs and keep it that way. If you have to make changes, talk to your worker about the need to change […]

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8 Ways to Save for Retirement as a Freelancer

Opinions expressed by Entrepreneur contributors are their own. Freelance life unquestionably brings freedom and flexibility. You can work full-time or part-time for who you want, when you want. Depending on your work choices, this type of career can be lucrative and satisfying. For freelancers , both payment and tax withholding processes are different from a traditional job. These small business owners tend to get their income in a non-taxed way. That means that what they bill a client is what they get paid. Because no state or federal income tax gets taken out from your payment, you might take a financial hit when it comes time to do your taxes. However, there are some ways to save for retirement and invest in ways that reduce your tax burden on a quarterly and annual basis. Open and contribute to a SEP-IRA The SEP (Simplified Employee Pension) Individual Retirement Account (IRA) is surpassing other retirement accounts in popularity. Part of the reason for that growth has to do with increased flexibility for your retirement plan. You can deposit more into a SEP-IRA than you could with a Roth IRA , which has a stricter contribution limit. Another advantage of opening a SEP-IRA is the amount you can contribute. You can contribute up to 25 percent of business profits after you subtract business deductions and half of your total self-employment taxes. Most brokerages offer a calculator to help you determine this figure when you sign up for the account. If you incorporated your freelance business as an S-Corp and pay yourself a salary, then the calculations are different. Try a solo 401(k) Another option is to open a solo 401(k), which often allows for a larger contribution than even the SEP-IRA. You’ll also have opportunities to make post-tax “Roth” contributions that aren’t available with a SEP-IRA. Although that won’t benefit your tax obligation today, it will help your long-term savings plan. Someday you’ll want to retire and start tapping into that money. The only downsides are that the paperwork is more complex and there may be more fees involved. Have multiple retirement accounts — if it makes financial sense You might be able to maximize the benefits of various account types by opening a few and adding to each over the course of your freelance career. How you decide which ones to open should be based in part on your tax bracket and marital status. Check with your tax professional on whether to add a Roth IRA or traditional IRA to your retirement account portfolio. Make catch-up contributions Although this tax tip might not apply to everyone, it does help those freelancers who are 50 and older. Freelancers in this demographic can make what’s known as a catch-up contribution to their 401(k) plans. The extra contributions can help to reduce taxable income and generate considerable tax savings. Because the amount continues to change each year and is also tied to your tax bracket, the best approach is to read the IRS guidelines. […]

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5 Tips for Starting Your Freelance Career

Freelancing can be a pretty ideal work setup if you’re driven, organized, and prefer to work autonomously (for the most part). From setting your own schedule to creating the ultimate WFH space, there are plenty of perks associated with freelance work. However, there are just as many hurdles in the freelance world. Whether the COVID-19 pandemic is what inspired you to start working as an independent contractor or you’re finally getting the chance to realize your life-long career goals, this is the post for you. In this post, we’re sharing five tips that will help you start your freelance career on the right foot. 1. Learn how to market yourself Leaving the corporate world to work on your own can be a pretty scary thing. Not only are you saying goodbye to the safety-net an annual salary provides, but you also become totally responsible for finding your own work, not to mention getting it all done. In order to generate enough clients to make ends meet, you’ll need to learn how to best market yourself. Yes, a beautiful resume is a great place to start, but taking some extra steps will elevate your freelance presence and ultimately, give you a better shot at signing contracts with new clients. Here are a few tips to help you market yourself and your skills: Embrace word of mouth – send an email out to your contacts and professional network letting them know you’re offering freelance services. Showcase your work by setting up an online portfolio using https://dribbble.com/pro or by building your own website. Create an Instagram account for your work – you’d be surprised how fast visual designs trend! 2. Stay organized Staying organized is one of the most important things freelancers can do, but it’s also one of the most complicated. Because you’re likely to have several deadlines and competing priorities at once, you’ll want to have a pretty intense calendar/to-do list system to meet all of your needs. If you’re an old fashioned pen and paper type of person, a white board calendar and daily task list may be fit for your needs. However, project management systems can be really helpful if you need to collaborate with clients , track progress, or store and share files. 3. Know your limits Another big challenge many freelancers face at the start of their career is their inability to say “no” when they don’t feel comfortable taking on a project. While you obviously want to earn and expand your experience, it’s so important to understand your limits when it comes to skill, bandwidth, and schedule. If you know a deadline is going to be impossible to meet, communicate this with your client ahead of time – they’ll be much more understanding if they saw a hiccup coming than if they’re totally surprised by it. 4. Maintain a positive work-life balance If you’re like most freelancers, the whole reason you got into the field was for freedom, so you better take advantage of it!Here […]

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Find The Perfect Virtual Assistant in 3 Easy Steps

As a business owner, you likely struggle with finding time each day to do all the things on your to-do list. If you wish that you had someone that could do all the small tasks, giving you more time to focus on growing your business, you might want to consider hiring a virtual assistant. A virtual assistant is an employee or freelance office assistant that works remotely in an administrative role. They could be located anywhere and may work for you full-time or they may have several other leaders that they do work for in any given week. At my company Maui Mastermind, we teach our business coaching clients how to find and hire the perfect virtual assistant in three steps: Step 1: Get Clear on The Role Description The key is to get very clear on what tasks you would like them to do on a daily, weekly and monthly basis and put it down on paper. Be realistic about your expectations here. A lot of business owners want the perfect candidate. You want someone who is tech savvy, yet creative. Someone who follows directions well, yet needs no directions. Which is why it’s imperative that you write out what tasks are expected each week. Taking the extra step will help you seperate what is needed versus what you think an “ideal” employee looks like. Here is an example of some items in a role description we recently used for a marketing virtual assistant hire: Sending e-letters via our chosen software Creating a content calendar Posting to syndicated sites following processes Social media management Step 2: Get Clear on What an “Ideal Candidate” Looks Like Once you have a good idea of what your candidate will be doing on a daily basis, you then want to get clear on what your ideal candidate looks like. Here is what we used for the marketing virtual assistant role. The first few items are must-haves, while the remaining items are nice-to-haves. A word of caution here, as I have seen it time and time again with clients and business leaders: do not make a hiring decision based on how well you like the person. The virtual assistant could be a very nice individual, organized and well spoken. But at the end of the day, if they don’t have your must-haves you shouldn’t hire them. Must Haves: Strong communicator, especially in writing. Must be fluent and clear in English when writing. Process oriented, good at using systems, refining systems, and can learn to create systems over time. Has initiative. Okay with some ambiguity and figuring out tasks on their own. Must be detail oriented. Good to Haves: Step 3: Come Up with 3-5 Test Projects Give each candidate three to five test projects to do within a certain period of time, giving every candidate the exact same tasks, and offer to pay their hourly rate for the time spent doing those tasks. For the marketing position in question, we gave the following […]

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This set of online courses could kickstart your freelance career

TL;DR: The Kickstart Your Freelance Career Course Bundle is on sale for £23.55 as of Sept. 27, saving you 98% on list price. Not to alarm you or anything, but it’s a rough moment to be looking for a new gig. If you’re struggling to find work or searching for an additional stream of income, you may want to look into kickstarting a side hustle or pivoting to a freelance role and working for yourself. If you have a marketable skill perfect for freelancing (think copywriting, web design, digital marketing, and coding) but don’t want to enter the freelance world blind, the Kickstart Your Freelance Career Course Bundle will show you the ropes. For just £23.55, you’ll receive eight courses, all of which are designed to help your freelance career thrive. Here’s a sneak peek: Kickstart a Freelance Editor and Proofreader Career on Upwork Upwork is pretty much the Facebook of freelancing — it’s the biggest platform there is. If editing and proofreading is your thing, this course will teach you how to create an effective cover letter for editing gigs. You’ll learn the most effective bidding principles, and how much to bid to score as many contracts as possible. To hone your skill, it also offers bonus tips for editing and proofreading that can result in a 97% client satisfaction rating for your profile. Fiverr: Start a Profitable Fiverr Freelance Business Today Another renowned freelancing platform is Fiverr, and with this course, you’ll get an insider view of the site. Think of it as a roadmap for gaining a competitive edge against other freelancers bidding for the same jobs. You’ll receive tips on how to identify skills that you can sell, create Fiverr gigs that match your interests and values, as well as gain access to resources that will make you profitable on the platform. Freelance Success For Artists: A Quick and Easy Guide Whether you’re a designer, illustrator, multimedia artist, or filmmaker, this course will fill you in on the tried-and-true best practices for clinching repeat clients. You’ll learn how to deliver your best work and excellent customer service to make any client want to hire you over and over again. You’ll also get tips on how to best build your portfolio, create a stellar reputation, set your prices so you can rake in more profit, piece together rock-solid contracts, and so much more. The Complete Freelance Writing Course Word wranglers out there will benefit from this course, which offers a step-by-step actionable roadmap that teaches you how to build a freelance writing business and secure your first paid writing gig as soon as possible. You’ll get help on finding a freelance writing niche that you’ll thrive in, and receive instruction on how to build a portfolio that clients will find a hard time saying no to. You’ll also learn how to craft a compelling pitch that will help you stand out against other writers. Freelance Kickstart: Start a Successful Business You Love Working for yourself and […]

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Ten ways to maximize money as a freelance translator

Working as an online translator with certain clients in the freelancing industry can be extremely challenging if you do not get acquainted with space quickly. Also, as a freelance translator, you need to achieve financial freedom in order to live a secure life exactly like the full-timers. As you are aware that the freelancing industry is extremely volatile and there could be a lot of ups and downs that the industry might go through which can affect the professional that is related with this industry quite massively. If you do not want to get affected by any of these things and are interested to establish yourself as a successful freelance translator and maximize your money there are certain tips and tricks that you need to know. You can access the below section of the article to understand those techniques that can help you to increase your finances freelance translators. Word of mouth works brilliantly A lot of people suggest that you need to go for advertising in order to publicize yourself to get more work. The trick is not about advertising yourself on a large scale; it is important that you start spreading the word amongst your friends and relatives and word of mouth can turn out to be a wonderful technique and can also help you to save a lot of money on advertisement. Real-world experiences better A lot of people would recommend you to start investing in classroom sessions in order to understand the freelancing world or the concepts of translation . It is always important to gain experience by getting a good number of projects. These are such professions where practical knowledge is highly recommended rather than theory. Never try to get an extra degree in your native language If you are already fluent in your native language, it is important that you do not spend unnecessary time and money in getting an extra certification or degree in the same language. As you would already be proficient, it is good that you invest the money on some other languages and become bilingual or multilingual. This can help you to get more number of projects and in turn, help you to make more money. Never compromise on the charges If you are confident enough with the kind of work that you deliver, it is important that you charge what you are worth for. There are a lot of online translatorsthat compromise on very less amount of money, and this is eventually going to make you feel dejected as you would start facing a lot of financial crunches. Get to understand the cycles Once you start working as a freelance translator at dormzi or other platform, you would be able to quickly understand the ups and downs that occur during every cycle. During the peak season, it is important that you earn more and you can relax when the workflow is less. Understanding the cycle would also help you to learn your finance Management. Plan your expenses People […]

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12 Ways You Could Make An Income Online

Nowadays earning a living online is still a dream come true, but it is also a reality for more and more. Some use the world wide web to make their entire living and some use it as a way to a side hustle and add to their usual wage. Many use making an income online as a way to take back control of their life and be able to spend more time at home with their family. The good news is that the majority of ways you can earn money online aren’t that complicated. Although it does take time for your income to grow, if you hit the ground running there is no reason you couldn’t make a good living from home. Some of the ways to earn a living will require you to stick at it and give it a little time. If you’re looking to start earning online but are unsure of how to do this, have a look below at some of the strategies you could consider: Online Tasks And Competitions Ok, so this one isn’t likely to be enough for you to make a living, however, it could be enough for a side hustle. Looking at things like the Lotterycodex and sites that require you to complete tasks like playing games, watching videos, or completing surveys are all good ways to make a little bit of a side hustle money. You’re likely to become rich quick, unless the lottery predictions work, of course, but you could make enough to buy your lunch each week. Google Adsense If you have visited any site, then you have probably seen Google ads at some point. These ads seem to be everywhere, this is for a good reason. They are simple to add to any basic website, and they could be rather lucrative if your site gets good traffic. One of the great things about this is it’s so easy to set up, however, bare in mind that you do need to have a website that is up and running and getting traffic. If you have a website already then this is a no-brainer for making a little extra money. Affiliate Marketing Whether you are still thinking of ideas for a perfect blog or have a website already running, you should also be looking at affiliate marketing. With affiliate marketing , you work with brands and businesses alongside the content on your website. If you talk about a service or product, you then share the link using a unique affiliate code, from this you will make money anytime anyone purchases through your link. It’s always best to stick to affiliates that are related to your website, blog, or Instagram as your followers may get annoyed if it’s not relevant. Consulting Consulting is another great way you could make money online If you are considered an expert in any field you may find that people are willing to pay you to consult them on their business or personal goals. Whether […]

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How to find the client for freelance transcription?

When you start your journey as a freelance transcriptionist, there are a lot of ebbs and tides that you must face. A lot of freelance transcriptionists that have quit freelancing world even before they have tried and tested all the things that are required to be done as a freelance transcriptionist. Well, it is true that a freelance transcriptionist will certainly come across a lot of difficulties when compared to a full-time employee. If you want to achieve satisfaction in your life, becoming a freelancer is certainly going to fulfil the dream. However, to earn money as a freelancer, you certainly have to be smart and intelligent. Competition is one of two main things that dominate the freelancing industry, and every individual that you come across is going to be selfish, and they would be waiting for an opportunity to get clients. Therefore, if you are looking forward to becoming a freelancer in the world of transcription, it is mandatory to stay ahead of the other people and also the entire competition. In order for that, you must understand the different ways of getting clients as a freelance transcriptionist and search for Freelance transcription jobs at dormzi and other online platforms. We have highlighted some of the main points that every freelance transcriptionist can incorporate in their working style in order to get a good number of clients in their career as a freelancer. Reading through these things will certainly help you when you launch yourself as a transcriptionist in the freelance industry. Keep your eyes open When you register your profile on any of the freelancing websites, you must not let it become stagnant. There has to be some activity every single day on the profile. The clients would only interact with those freelance transcriptionists that are active. It is also important that you keep bidding for projects whether or not you get them right for the first time, unless and until you have good observation skills and an eye for detail it becomes extremely difficult for you to find the clients in the freelance industry due to heavy competition. Keep bidding for projects Thenumber of projects you bid the better your chances to get them. If you just bid upon a single project and wait for the response from the client, you might definitely not get it as expected. The client’s mind in the freelance industry works completely different from that of the other industries. A majority of clients would be looking for affordable transcriptionists. Although you have a tremendous amount of skill sets, your chances of getting a project can become bleak if the rates are higher. In order to get more number of assignments, keep bidding on projects continuously on any freelance website at an affordable rate. Create a compelling portfolio Even when you are uploading your profile or portfolio on a freelance website, it is highly essential to make it extremely attractive and impressive. Remember to include all the technical skill sets and the […]

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