Can You Cut it as a Freelancer? 10 Essential Rules for Survival

An estimated 53 million Americans are now freelancing. If you're not one of them, chances are you will be someday. By the end of the decade, 40 percent of the workforce could be working independently.

If the conventional perception of freelancing — lounging around in pajamas and answering to no one — sounds like the sweet life to you, understand that keeping a business afloat through boom times and bust takes discipline, resourcefulness and a lot of hustle.

So if you're tempted to go out on your own, keep these 10 rules for survival in mind.

1. Decide What You Want to Call Yourself

What's in a name? Well, apparently a LOT of people don't want to be called a freelancer. They feel it carries negative connotations: a freelancer is just passing time between "real" jobs and doing mostly tactical project work.

I don't use the term myself, but I don't bristle when I'm called that, either. I believe if you do great work, your reputation will supersede any job title. But just be aware that the word comes with baggage. A smart fix is to simply call yourself what you are: a writer, marketer, programmer, graphic artist, etc.

2. Clothes Do NOT Make the Man (or Woman)

Ignore those who say you have to get dressed up like you're going into the office in order to get serious work done. I've closed plenty of deals and done award-winning work wearing jeans, sweats and, yes, even pajamas. So come as you are and figure out what works for you.

3. Lack of Discipline is Not an Option

People often say, "I would never have the discipline to get my work done at home." I hate to break it to you, but whether you're at home or at the office, clients are clients and deadlines are deadlines. You learn pretty quickly that "not getting stuff done" isn't a solid long-term plan.

4. You're Never Truly "Your Own Boss"

Everyone has a boss to answer to. The employee has a supervisor, the CEO has a board of directors and the freelancer has clients. You do have some latitude in terms of hours and schedule and perhaps in the kind of work you do (if you can afford to be choosy). But in the end, we've all got to serve someone.

5. You Must Be Good With Money

If you're not very disciplined when it comes to money, watch out. There will be slow times, especially early — even recessions. Always have several months' worth of expenses set aside. Also, be aware that your clients will most likely not be withholding taxes and social security from your pay. It's now your responsibility to calculate (and pay) what you owe.

6. Hire a Financial Professional

Even if you're good with money or proficient with financial management software, get yourself an accountant or a bookkeeper (or both). Preferably one who specializes in working with sole proprietors. I've heard self-employed people claim deductions for all sorts of crazy things, from haircuts to clothing. So do yourself a favor and follow the guidance of a qualified professional.

7. Seek (Other) Professional Help

If you want people to respect what you do, you need to respect your own limits. Hire professionals to create your website, design your materials, write your marketing copy and other things that aren't in your area of expertise. Independent does not mean DIY.

8. It's All About Relationships and Referrals

My very best clients are the people who know me or have been referred by someone who knows me. I've found those who just randomly "find" me don't appreciate my value and are driven mainly by cost. So work on developing and nurturing relationships, online and in real life. And never, ever burn bridges. In the highly mobile marketplace in which we live, today's annoying co-worker could be tomorrow's potential client.

9. Forget About Work-Life Balance

As a freelancer, you'll definitely have more control over how, when and where you work. But stop thinking in terms of work-balance balance. It's an outmoded term suggesting you're either doing one or the other. Life these days is not so black-and-white. Think in terms of work-life integration, where the lines are more blurred and you're dipping in and out of work as clients and circumstances demand. If you're the kind of person who wants to "leave your work at the office," this is not the life for you.

10. There Are No Ironclad Rules — Even These

With more than 50 million people doing all kinds of different freelance work, there are no one-size-fits-all rules. So beware of anyone who speaks in absolutes, and find the schedule, the structure and the style that works for you and your clients.

It's exactly that flexibility that so many of us enjoy about the independent life.

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Through books, workshops and consulting, Rob Biesenbach brings the worlds of acting and business together to helps clients cut through the clutter, tell their stories more effectively and stand out in the marketplace. He's been working independently for more than 15 years.

Curious about the Vince Vaughn stock photo? Adweek has the story here.