Shifting Your Mindset From Employee to Business Owner
Ever notice how some freelancers seem to have it all figured out?
They're landing premium clients, charging what they're worth, and actually enjoying the freelance lifestyle. Meanwhile, others are stuck on the Upwork belt, wondering if they’re even cut out for this whole "being your own boss" thing.
Here’s the thing. It's not just about your portfolio, your years of experience, or even your skill set (though those definitely help). The real MVP that will make or break your success story? Mindset.
If you’re transitioning from employee to business owner, there are habits and belief systems you will need to drop. You’re basically learning how to switch from automatic to manual transmission.
Sure, you know how to drive, but suddenly you're responsible for a whole lot more than just steering and hitting the gas. And just like learning to drive stick, developing an entrepreneurial mindset takes practice, patience, and yes, a few stall-outs along the way.
Remember when your biggest worry was making it to the morning meeting on time? Those were simpler days. Now you're juggling client communications, project deadlines, invoicing, and trying to figure out if that cup of coffee counts as a business expense (spoiler: it probably does).
The thing is, most of us start our freelance journey with an employee mindset firmly installed and this is where a lot of people get stuck. If you want to cultivate lasting success in your freelance career, you need to shift from an old employee operating system to a new CEO mindset. This means creating opportunities instead of waiting for assignments and developing your own systems instead of following set procedures, for example.
Will it come natural? No and you’ll feel pangs of uncertainty throughout the process. Will it feel agonizingly uncomfortable at first? Absolutely. But, trust me, the view from the CEO chair is worth the growing pains.
Let's talk about that voice in your head that keeps saying "Who do you think you are?" We call this your unwanted business partner also known as imposter syndrome. It shows up at the worst times, like right before you hit 'send' on that proposal or when you're about to raise your rates.
You might wonder if you’ll ever get over feeling imposter syndrome, but guess what? Even those freelancers charging $500/hour sometimes feel like they're fooling everyone. The difference? They've learned to work with their imposter syndrome instead of letting it paralyze them.
Just because you feel out of place or like you’re missing a secret ingredient in your freelance career, doesn’t mean it’s true. However, recognizing your feelings are valid and giving that annoying voice room to speak can do wonders for clearing out mental chatter. The trick is not to let it take over.
Here are a few ways to keep imposter syndrome in check before it ever creeps up again.
Sometimes all it takes is having a few simple practices to remind yourself that you truly are the real thing. Next time you feel an ounce of uncertainty, check your wins folder for a confidence boost.
Whether you’re ditching your full-time position to pursue your freelance career or are taking a few clients on the side, your money mindset will inevitably require an upgrade. You’re no longer trading your time for money, relying on promotions, or striving for raises. Now, you are your own boss and you have to factor different elements into your rate, if you want this to be a sustainable path.
Here’s a quick formula to help you calculate your rate:
(Living Expenses + Business Costs + Tax Buffer + Health Insurance + Growth Fund + Profit Margin) divided by Billable Hours = Your Rate
Following this formula can save you from a lot of headaches and unnecessary stress.
Remember, your old salary does not equate to your freelance rate. Besides, you want to be mindful of market rates. If you undercharge, you’re not just doing yourself a disservice. You’re running the risk of making your peers look bad and affecting the entire freelance ecosystem. So, if you ever feel like you’re rates are too high, let this be a solid reminder to charge what you’re worth.
For a full deep dive on pricing, take a look at our full guide: Profit-First Pricing: How to Create Service Packages That Actually Make Money
Success leaves clues, and successful freelancers tend to share some key mental GPS coordinates. Think of this as your entrepreneurial compass guiding you to your North star—total success. Start by looking at some of your role models and people you look up to in the industry. What do their non-negotiables look like? How do they structure their days? Where can you implement better habits? Is there a mentor you can learn from?
Here are four points you can quickly adapt to make your entrepreneurial compass a magnet to success:
1. Outcome-Focused Thinking
2. Problem-Solver Mentality
3. Investment Mindset
4. Growth Perspective
Just like you wouldn't expect to get fit by thinking about the gym, building an all-star mindset requires daily reps. Creating a mental success plan is a great way to keep you focused and commited. While you won’t see results right away, the power of consistency will prove to bring in massive returns. You just have to keep taking action and hold the vision.
Morning Power-Up
Daily Maintenance
Evening Cool-Down
Building an all-star mindset isn't about positive thinking your way to success or manifesting clients through meditation (though a little meditation never hurt). It's about accepting that discomfort is the price of growth and understanding that failure is feedback. It’s also about knowing that your worth isn't determined by your last project and recognizing that "not now" doesn't mean "not ever."
Again, this is where curbing that voice in your head is really helpful. By remaining consistent in your practices, honing your craft, and doing one thing to move the needle every day, you’ll reach and surpass any goal you set for yourself. Now, it’s time to take action.
You’ve done the research, watched the Youtube videos, and read the books but none of that matters if you’re not taking action. So, instead of giving you more tips and words of encouragement, here’s a digestible breakdown of how to take the next steps.
This Week:
This Month:
This Quarter:
Take it up a notch and team up with a peer to hold each other accountable, cheer each other on, and catalyze your success to new levels. Give each other feedback and pivot where necessary.
Every successful freelancer started exactly where you are, probably with the same doubts and fears. The difference? They decided to build their mindset muscles alongside their technical skills. So, are you ready to transform from freelance rookie to all-star? Your mindset upgrade starts now. The only question is: What's your first power move going to be?
Remember to keep it simple, stay consistent and start now.
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