More and more people are making the switch from traditional full-time employment into the world of the on-demand economy and freelancing. This growth marks a positive change for the so-called ‘gig economy,’ allowing freelancers more freedom and flexibility in their work life than ever before.

This also marks good news for small and medium sized companies, allowing them the flexibility to hire freelancers to take on tasks that they would have had to hire permanent staff to do in the past.

For both freelancers and businesses that hire them, the on-demand economy can be confusing.  In order to make it work for you, you need to be prepared for this shift, and to understand its critical elements to make it a success. Here are just four of the most important aspects that freelancing experts want you to know. These key points will help you to make your freelance partnerships a success.

Avoid having a ‘one-off’ mentality

It’s important that you do not see your projects as a one-time thing. While you can clearly see that short-term projects can help your company to become leaner and more efficient, forging strong relationships with a key cadre of freelancers will benefit your bottom line. Likewise, the best freelancers know that they should always be on the look out to create great relationships with each project they complete – this helps them to secure further work. Freelancers do not have to be ‘project workers’; they can become a vital member of the workforce and your business’ long-term growth plans.

Don’t go at it alone

The freelancing world can be a lonely place, but it does not have to be. Forge a sense of freelancing community through co-working spaces, networking and skills sharing classes. By building a freelancing network, you can be in a better position to offer clients an extended package of services. Similarly, businesses may form a freelancing pool of talent to ensure every eventuality for their business is covered.

Portfolios are essential

You may not need a CV anymore, but a portfolio is essential. Document all of your achievements and build a catalogue of your proudest moments and biggest successes. Your skillset is unique and deserves to be shown off. Likewise, for businesses, a portfolio of successful freelance projects can help your business bid for further work and impress the board with a fresh, economical approach to work.

Embrace cloud software

While the work may be exciting and the tasks challenging (in a good way), freelancers also have to remember that they are small business owners. This means that they must keep track of their expenses and accounts receivable. Cloud based software makes this process easier than it has ever been before, allowing freelancers and business owners alike to keep track of deductions, taxes, invoicing and more.