Running a Freelance Business

2. Launch Your Business Effectively

If you can't muster the small amount of capital required to invest in a computer, check out your local university or community college. Trade creative skills for computer time and work with the students on their school newspaper. Besides giving you some hands-on experience, this is a great opportunity to update your knowledge about what's hip in university life.

As an entrepreneur, you might qualify for a low-interest loan from the Small Business Administration (SBA) in the US. Application is simple if you follow the guidelines set out on their website, www.sba.gov, and fill out a few required forms.

Depending on your location, you may even qualify for a HUBZone classification. (See chapter 5 for more information about HUBZone classifications.) In Canada, Canada Business Service Centres, www.cbsc.org, provides information on sources of funding for small businesses, which vary from province to province/territory.

Once you get your equipment, the world is at your finger tips as long as you follow a few simple tips for building your freelance business. Don't get creative like one famous designer who started out in the in-house design department of a major corporation. About a year before he decided to launch his now legendary design studio, he started requisitioning computers, software, and furniture from his employer's purchasing department.

These items were delivered to his new studio and were up and running the same day he submitted his resignation. He walked into his completely outfitted studio ready to hire five other designers. Few people knew the trick to how he made this smooth transition; most admire him and marvel at his business acumen.