Establish the Hustle

Just because it’s a side hustle, don’t think you shouldn’t take it seriously.

Between the high risk of burnout and the increasing popularity of the gig economy, it's no surprise that more women are building their own businesses. Whether it’s entrepreneurship, a passion project or freelancing, it’s important to protect yourself.

Here are some things to consider when looking to become your own boss.

• Legal & Finance: This includes having an LLC set up, a separate bank account and tax planning & bookkeeping services.

• Portfolio: Show that you can do what you were hired to - set up a website or use a portfolio service.

• Health Insurance: If you have the option to take advantage of COBRA, do so. Or look into purchasing health insurance from an open exchange. ACA open enrollment is November 1-December 15!

• Pricing Your Services: Think about how you want to get paid - hourly rate, day rates (for creatives), fixed price per project or a retainer-based model.

• Agreements with Clients: Seek legal advice and create a standard contract that includes terms you're comfortable with, including notice period, non-disclosure and ownership of work.

• Invoicing Clients: Consider payment terms and a penalty for late past due invoices. Clearly state those terms on invoices. [Note for NY’ers: NYC's "Freelance Isn't Free" law recently took effect, making it harder for clients to skip the bill.]

• Professional Development: Keep your skills sharp by staying on top of industry news and taking courses, online or IRL. Check out this list of free online courses from top universities.

• Be Social (the old fashioned way): Being your own boss means an office of one, which can get a bit lonely. Make the effort to join a meetup, or a like-minded group of folks (like us!) to unwind and trade stories with.

List list may seem daunting, but keep in mind more than half of the above are a one-time-pain. Once you're over the hump, you'll fall in love with being your own (awesome) boss!