Freelancing Business Setup

Freelancing is self-employment: selling your time/skills directly to clients. Setup includes choosing a business structure (sole proprietor, LLC, S-corp), setting rates, contracts, invoicing, taxes, insurance, and marketing. Freelancers earning $100k+/year aren't rare; top earners hit $500k. Learning takes 4-8 weeks depending on complexity. Key challenges: irregular income, no benefits, isolation, feast-or-famine cycles. Success rate: 30% of people who try freelancing sustain it 5+ years. Those who succeed systematize early and earn more than W2 employment.