Freelance! - business management: includes a list of resources - 25th Anniversary of the B.E. 100s - Cover Story

Black Enterprise, June, 1997 by Karen Gutloff

CHARLENE BOUDREAUX WAS enjoying the fast-paced life of corporate finance until she was downsized not once, but twice. "The second time, I was working for a health care organization, when they trimmed my division and offered me a position on the East Coast," recalls Boudreaux, who now lives in West Hollywood, California. Boudreaux chose not to switch coasts. Instead, the 34-year-old took the opportunity to strike out on her own and kick her freelance career into high gear. "I was sick and tired of corporate America, where you put 100% effort into something and they let you go," says Boudreaux. "With freelancing, I have more control over my destiny. To a large degree I can pick and choose what I want to do."

Boudreaux put her skills to work as a film/entertainment marketing and public relations specialist. She was hired by Italian motion picture company Cinecitta International to plan a major film retrospective of director Bernardo Bertolucci. Boudreaux and her partner, Venanzio Ciampa, of New York's Cinema Media, also lined up celebrities and press for the splashy opening of New York City's Fashion Cafe this year, Boudreaux planned big media events to promote the Grand Prix in Miami and Long Beach, California. "It's a lot of hard work and the hours stretch well into the night, but I love the creativity and control I have," says the New Orleans native. The money isn't bad either. "In this business you can earn an average of at least $40,000 working full time, depending on the kinds of contracts you get," Boudreaux says.

Writers, photographers, graphic artists, computer technicians and management trainers are increasingly putting their skills to work for themselves. According to the U.S. Bureau of Labor Statistics, about l 10.9 million people are currently self-employed. "There are a lot more opportunities today for people who want to work on their own," says Priscilla Claman, president of Career Strategies Inc. in Boston. Most freelancers work for themselves, soliciting long- and short-term projects from a variety of companies. Contractors, another growing field, tend to work as temporary employees, on retainer for a particular organization. Freelance are attractive to companies for many reasons "Companies downsize, then hire freelancets and get the amount of work done without having to pay health care or retirement benefits," says Claman.

But hold on before you hand E in your resignation. Freelancing isn't as "freestyle" as it may sound. Starting and maintaining career as a freelancer takes careful planning. To keep clients and money rolling in, you need to develop a strategy and follow some basic steps.

GET YOUR FINANCIAL HOUSE IN ORDER

Full-time freelancing means saying good-bye to a steady paycheck. If you don't have additional outside income, you need to accumulate savings to get started. Also lower your overhead. "One of the biggest mistakes I made when starting out was not getting rid of my personal debt," says Antonio Roberson, a graphic designer living in Washington, D.C. "I fell behind on my bills. I would have calls coming in and I didn't know whether it was a client requesting my services or a creditor looking for bill payments," he recalls.

Roberson left a full-time position with a graphic design firm to start freelancing. He designs everything from corporate logos and brochures to CD covers and Web sites. After eight years of freelancing, Roberson, with clients such as the American Association for the Advancement of Science and the Potomac Electric Power Co., now earns about $200,000 per year. He turned turned of his Capitol Hill Roberson Design. Success but Roberson admits his business did not become profitable until he removed his debt and scaled down his credit card use. He advises opening separate accounts to keep track of expenses. "Having separate business accounts is crucial, especially when approaching banks for start-up or equipment loans," he says, "On occasion put $200 or $300 in there to show some activity. That way your account has some history and activity when you approach a bank for credit."

START GRADUALLY

Take the time to perfect your skills before branching out on your own. "You don't have to take a complete, cold plunge into freelancing," says Claman. "It's sometimes best to start your freelance career part time while still employed."

However, before doing this take a close look at your company's policy concerning "moonlighting," suggests Claman. Generally speaking, most companies implement a policy that prohibits employees from working for the competition. In some cases, at the time of hire, companies have employees sign a conflict-of-interest agreement. Other organizations outline this policy in the company employee manual. Freelancing part time tip will allow you time to build a portfolio and create a business plan as well as determine your target audience and develop a strategy for getting business.

FIND A `CASH COW'

Try to develop at least one client who can provide steady income while you build your customer base. "My advice is to try to sell the people you're leaving on your services," Claman says.