4 Mistakes to Avoid if You Want More Work with Higher Pay
Just checked your inbox– only to see no new business enquiries? Sick of taking underpaid jobs for the sake of “expanding your work portfolio”? Trying to make it as a full-time creative talent but not sure how? Here are 4 mistakes most creative talents made that inadvertently stop their career from going to the next level. Scroll down to check if you’re making any.
1. Play solo
Many creatives start as solo players in the industry, but as jobs involve more complexity up the pay scale, these freelancers may find themselves stuck in the lower-paying end of the market. While operating as an individual talent does not equate to immediate failure, your work capacity is confined to many limitations, and so is your income. Wedding photographers, for instance, who often have many snap decisions to make, cannot film without compromising photo quality. If you ask anyone, it is almost impossible to capture stunning images while recording simultaneously.
A fix to this? Teamwork! Most experienced photographers work in a team of assistants and videographers. By delegating parts of your job to other talents, there is more room for diversity and better quality control. In addition to photos, you can deliver videos and go bolder with your graphic design. It is definitely value-added in assembling a team of talents, and that is the extra pay you would not earn working only as a photographer.
2. Send invoice made by a personal bank account
A client’s first impression of your business is heavily based on your correspondence and paperwork, which include invoices and quotations. If you’re serious about running your business, there is a definite need to separate your personal finances from your business.
To do so, it should come as no surprise that you need a business account. Not only is this important for you to manage your business’s finances in the long run, but it is also important for maintaining a professional and trustworthy image with your clients. Sending your clients an invoice with your personal bank account details is very much a dealbreaker.
In Hong Kong, setting up a corporate account is a long and troubled process. It is on average a six-month process with is high rejection rate and overwhelming paperwork. Home office, company’s scale and lack of potentials are all easily reasons for a cold rejection.
So you’re a creative who only want to focus on your production, and can’t bother to research about the know-hows of setting up a company? Neat got you. Neat is a fintech startup that helps entrepreneurs register their business and getting a corporate business account– all available on their one-stop online platform. You’d be surprised to learn that Neat has made it possible to open a business account in one week. Check out more in this link: (https://www.neat.hk/)
3. Not registered as a business
This would come as a shocker, but when you receive income without a business status in Hong Kong, you are treading on legal thin ice.
In Hong Kong, creatives need to register as a sole proprietor or incorporate a limited company in order to file for profits tax and operate legally. If you don’t, you could face legal consequences.
What’s the best way to register your business? Here are the know-hows.
Registering as a sole proprietor is cheaper, but registering for a limited company protects the owner from liabilities. If your company goes bankrupt, you aka business owner doesn’t have to be in debt. Limited companies also usually garner more trust with clients.
In short, it’s best to incorporate a limited company in the long run. Neat offers an incorporation package that is entirely online and takes only 10 minutes to complete. Afterwards, you just wait one week for company review and before you know it, you get yourself a Neat Business account. Check out more about the package here: (https://www.neat.hk/incorporation)
4. Work underpaid/ for free
Many new creatives would take underpaid jobs and even work for free to build their portfolio, which often ends up trapping them under the “beginner” or “amateur” labels. But it is our first-hand experience that new creatives do not necessarily equal either of those things.
It’s true that there are projects where price comes second to passion, especially if you’re still expanding your portfolio. But if you believe in the quality of your work, you should not work for a beginner’s pay. If the pay your clients offer fall short of your range, you should politely decline with an explanation.
We suggest you explain how your service package differs from other amateurs. For example, you offer a professional lighting setup, have a record of following deadlines, and have won awards or qualifications that prove your professionalism.
As intimidating as a “no” to clients may sound, it is necessary to differentiate yourself from other developing talents. Having updated market information, e.g. where to find clients and what other talents are charging will help make a more informed business decision. Freehunter offers you the most updated information on how you should price your work. Check out more in our blogs.
Quality+Credibility=A Success Formula?
Other than quality, credibility is a major variable in the success formula of your creative work. Experienced creative talents often succeed because of referrals. In other words, a creative will not be able to expand their clientele purely on the basis of talent– a good reputation and a wide-reaching platform to showcase their talent are what take them much further.
? Freehunter is the Creatives’ Networking Site founded in Hong Kong, with over 2,000 professional registered CREATIVES. We hope to gather people from different creative industries in Hong Kong to exchange ideas and develop cooperation opportunities on the platform.
?We hold a strong believe that Hong Kong has never been a cultural desert that local creative talents deserve to have a better channel to be recognized by the public. We endeavor to contribute to the development of the local creative industries. The Freehunter Team sincerely invites you to join us and let Hong Kong people reimagine their own creative industry.