It’s no secret that there are a lot of perks to running your own business and many owners transition to running their own show out of a desire for flexibility above all things. After all, why toil away in a typical 9-5, especially in the often-overused “new normal”, when you can set your own hours, work from wherever you want, and increase your overall quality of life at the same time?
But, whether you call yourself a “freelancer”, “contractor”, “business owner”, or something else, you definitely know that running your own show isn’t always as rosy as everyone thinks it is. Often, you aren’t just spending time servicing clients, you’re managing all the aspects of your business including customer service, operations, finance, and marketing–sometimes to the detriment of your company’s bottom line.
The good news is, it doesn’t have to be that way. With all the technological advances that have occurred in the last few years, owners now have more means than ever to take back their time and stop losing billable hours to minute operational processes.
Here are just a few ways you can use our powerful all-in-one solution to manage your independent business compliantly and flexibly.
Take the Headache Out of Contracts
As an independent business owner, you should always be creating a contract to set expectations between yourself and the client, while protecting yourself against legal disputes. A good contract explains the details of the job description, working period, terms of payment, confidentiality agreements, copyright law, and the overall terms of your working agreement with the client.
But, even if your contracts are well put-together, even the best freelancer often has trouble organizing them. Trust us, we’ve met more than one independent business owner who is so strapped for time that these documents don’t get organized as often or effectively as they should be. Not only can this data live in multiple places, but it can cause a headache if you are unable to find the document quickly.
Rise makes the contract experience easier for contractors and clients alike enabling business owners to generate fully-compliant documents in just a few minutes that can be signed by the client directly in the dashboard. These agreements are then organized in a central repository that is organized and easily accessible, no matter where you are.
Let’s Talk About Payments
Figuring out how to get paid effectively and on time is one of the biggest headaches that exist for independent business owners. In fact, the average freelancer spends eight hours a week getting paid. Add in the extra layers of complexity that exist when you’re trying to process global or cryptocurrency payments, and you have a veritable recipe for disaster.
Today, many contractors resort to web2 providers like Paypal or Venmo to collect their money. Others have to jump through hoops with other traditional legacy systems that haven't caught up to the way transactions are conducted in today's remote-first world. Whichever way you’re currently collecting your money, chances are you’re not only wasting tons of time tracking it down, but you’re also losing a portion every time you collect to the big, bad fee-monster.
But it’s not all doom and gloom and you don’t need to let invoicing get you down. Rise equips you with the tools you need to process cross-border payments instantly and securely–with no fees. Yes, you read that right: no fees (Pro tip: our solution is also a great way to keep your invoices organized, which can be a lifesaver when tax time rolls around).
Did you think that was the only way we make getting paid a breeze? Not so fast. Rise also gives freelancers the opportunity to have more flexibility with just how they get paid.
Want fiat? We can help with that.
Interested in adding a crypto option for client payments? We can help you facilitate that too.
All you need to do is add your bank account info to receive fiat wires and ACH or connect your Web3 wallet to start collecting cryptocurrency. Speaking of which...
It's All About Those Gains
“Get those gains” isn’t just a colloquial phrase for gym bros anymore. Nope. It’s also an ethos you can (and should) be applying to your business. Cash flow is notoriously one of the biggest issues for independent workers accounting for 23% of business failures. Late payments, wrong payments, slow payments, dried up pipeline...the list of reasons why your revenue could decline is endless.
So what's a contractor to do? Diversify your income streams, of course.
While most freelancers are focused on "active" income streams, i.e.--trading time for money, the smartest ones in the room are those who learn to utilize “passive” income in their business as well. This might mean creating courses, podcasts, books, or offering paid community access but the really savvy ones start making the income they already have work harder for them.
Rise makes passive income simple to implement, offering a suite of decentralized financial tools that help you continue to generate revenue, even when you’re off the clock.
Are You up for the Challenge?
Look, we won't lie to you: there is no shortcut to freelancer success and you'll probably have your fair share of trials and tribulations to overcome. But, with the right infrastructure in place, you'll be able to set your company up for success and savor the freedom that only comes with being your own boss. We've got you.
Are you ready to spend more time building your business and less time on the “other stuff”? Let’s chat about how Rise can help you supercharge your business and boost that bottom line.