You’ve established your brand, you’ve built your reputation and you’ve finally got the reassurance of a regular income every month. Does this mean it’s time to take your freelance business from a side hustle to a full-time job? Taking the leap is a huge step and one of the biggest (not to mention exciting AND scary) decisions you’ll make.

Full-time freelancing isn’t something I think you’ll ever be prepared for. I always compare it to driving – you learn how to drive in your driving lessons and you have successfully passed your test (three times a charm) but you don’t actually learn until you go it alone and come into real-life driving situations without the comfort of your instructor’s guidance. The same goes for transitioning from part-time to full-time.

Here are my five signs that you’re ready to jump into the wonderful world of being a full-time business owner…

Income

Whether your goal was to match the salary you’re currently being paid by your employer or one that covers all of the essentials, you want to make sure that you are consistently hitting your income goals and bringing in a regular, solid amount of money each month before you make the decision to go full-time. You want to make sure you are completely confident when it comes to being financially independent otherwise, you’ll feel stressed before you even start.

Savings

Being self-employed can be an emotional and financial rollercoaster, so expect to make more one month and less the month. Having a healthy amount of savings in the bank will alleviate this pressure when you go full-time freelance, especially in those first few months when you’re finding your feet. I’d recommend having a couple of month’s worth of bills to cover so if your inbox has a tumbleweed moment, you know you’ve got enough money to cover the important stuff.

Clients

Make sure you’ve got clients lined up before you even consider going full-time. Announce your availability for the next few months and book work in advance so you know on the first day you go it alone, you’ve actually got work to do! This way, you will also guarantee yourself income so you’re reducing any money worries for the next few months.

Industry Connections

Establish those key industry connections before you go it alone full-time. You will find that word of mouth recommendations and referrals will make up the majority of your client work, so continuously build on your reputation, gather testimonials and really ensure you have a presence within the industry.

In my next instalment, I will be offering my top tips for working from home for full-time freelancers or self-employed business owners. Keep your eyes peeled!