How to Start? What to do?

[Jossysgiants]

Hi

I would really appreciate some advice/ insights.

I currently work 4 full days a week from home on an employed basis. I do business development ( basically sales) for a pharmaceutical services company I am finding it all just too much and would very much like to develop a freelance portfolio of work.

I have a bit of a problem in that I currently earn a reasonable wage and we would miss it as a family. I would need to at least build up to a figure of say 50% of what I am currently earning - so a target annual income of around £25-30k from about 30 hours per week. I feel a bit trapped because I feel like this may not be realistic at all.

I don't actually know what services I could offer as a freelancer to enable to me to generate this target income.

Let's say I have an eclectic background including:
Sales ( lots of this experience mainly to the pharma sector which is a great niche for permanent jobs but not sure if there is any call at all for these type of services on a freelance basis)
Conference organisation
Recruitment
EFL teaching
Some article writing in my sector.

I have a pretty decent network but have no idea what to do with it!

I don't know what to do, where to start or how to create an action plan.

Aargh, what a pathetic post. Having a pretty rough day and hoping to break this circular pattern I am stuck in and actually move forward.

Sorry for the long post.

You aren't pathetic, you just need to work out what to do...Sorry to hear you are having a rough time of it.

On a practical level I'd say:

1. It is always much easier to sell yourself based on your experience, so I do think you should look at pharma first as the first market/option. I imagine it is one of the more wealthy sectors too...

2. If you are trying to replace an income as opposed to working around school hours for "extra" money (no disrespect to those that do this) I would think about combining something stable with freelance work. So could finding a different more pt job be an option?

I went freelance needing to replace a salary and have always combined a pt contract or retained contract with project work. For me, having nothing booked in was too stressful and I wanted to get back to my previous salary asap, which I did in year 2 of operation. I have secured roles through people I know but also where I have seen jobs advertised and approached them about doing it on a freelance basis.

Mumsnet Jobs sometimes offer pt sales roles as so other job boards.

You are "only" talking about £20 ph from my quick calculations, which isn't too high as a freelance rate. Although realistically if you have 30 hours it is unlikely you'll work all 30 each week, there is business development, admin etc.

So, could you use your network to put out the feelers for either a pt similar role? And/or to find out what sort of freelancers are used in pharma? Meet up with people for a coffee, pull in those favours. You never know what sort of opportunity could present itself.

Pharma recruitment sounds like a possibility too. It combines sales with a market you know. Worth talking to recruiters in the sector?

Having said all of that. What is it you wantto do? In a years' time if you were a freelancer what would it be doing? Do the other things you have done (conferences) previously inspire you more?

Thank you for so much for replying MrsMargo. I think you are right, that is a good approach and would give me the security I need. My ideal is to build up other areas- I have an idea for some workshops and maybe some writing but I would feel very vulnerable without any security and guilty too because I think work is so stressful at the moment I am finding it tough to see how I am going to create a path forward. I need to man up and get it sorted. I am going to a networking event tomorrow evening so am going to use the chance to hustle for this part time contract.

Can I ask what prompted you to go freelance and how you got that first part time contract?

I suppose I see sales as less freelance friendly than other services and that is what is holding me back psychologically.

It is difficult when you are feeling trapped. I hate that feeling - it is very dis-empowering.

Great that there is an opportunity to test the waters tomorrow.

I (am a marketing freelancer) left a job I couldn't deal with too much stress & travelling. We basically worked out that we could survive (as in no spending money/extras/hols/savings but could cover the mortgage) just on DHs money so I was going to give it 6 months to see if I could make it work.

Two months in a contact recommended me for a role (which was advertised as full time and employed) I convinced them to offer it to me part-time and freelance! Following that I have basically lined up new contracts when I could see the current one ending or it was time to go etc.

I have found a lot of freelancers do this. It is a bit of a "dirty secret"!

I attended an entrepreneurial conference 1.5 years ago. Somebody was on the stage talking about how they built their giant property business. Somebody in the audience asked how they'd started (the inference was that they were a great entrepreneur who just started up) and it turned out they worked part-time whilst they set up.

For what it is worth I think that there is a market for freelance sales. But I can imagine the issue is money, clients wanting to pay a low basic etc. I guess it would be more of the cold calling than developing relationships etc.

I think one of the most positive things is your strong network - it could provide both a pt role and freelance work. Most freelancers I have met seem to get a lot of their work through recommendation.

Can you give yourself 3 months to research the market, talk to contacts and find out what other freelancers there are in your sector? Non conflicting suppliers might be willing to give you a steer on the market place too. Then you can make more of an informed decision about what next?

Also look at www.peopleperhour.com for an idea of the sort of generic sales roles that are out there. PPH doesn't pay very well (lots of below the min wage jobs!) but sometimes you might find a good role. I have found I have had success where my experience is very relevant.

Good luck.

www.peopleperhour.com

That is really interesting thanks very much indeed for all your help.