The Advantages And Disadvantages of Being A Freelancer
Things To Know About Freelancing
Looking to freelancing as your career? You might want to know the advantages and disadvantages of being a freelancer before you dive in. Freelancing may not be for everybody, despite its promising outlook at first glance.
This article is for you if you are looking into the life of freelancing. Check out some of these freelance jobs.
- The basic element of working freelance is the flexibility it affords you, from your projects to the people you are working for. You can choose what to focus on, such as blogging about food, or for the economy as a freelance writer, depending on your taste and preference.
- Other than content, you decide your work hours and where you work at. Freelancers have the freedom to dictate how much they work every week, instead of sticking to the same schedule every day in a week.
- As long as you get your job done early, you can call it a day. This benefits people who tend to have different hours of the day where they are the most productive, like night owls.
- If you hate sitting down in one space for several hours at once, then freelance might attract you as well. As a freelancer, you also can work anywhere from the couch in your home to your nearby cafe as you enjoy a cup of coffee.
- However, with the flexibility to choose what you work on and who you work for, you may end up rejecting low-paying jobs.
- When you are first starting out, you should take on such low-paying jobs to build experience and your portfolio, and refrain from being too picky. This will then increase your work value and get you to the paying tier that you are aiming for.
2. No rituals
- Unlike the typical office worker, you do not have to stick to a rigid schedule, from waking up at a certain time to prepare to go to work in the morning. Even the journey to and from work is the same every day.
- If you’re not a morning person, then you might want to avoid such a ritual. Some people prefer to have different schedules throughout the week so they don’t get tired of it.
- Freelancers avoid such a monotonous work lifestyle, saving them time and money to travel. However, with this extra time, learn how to put it to good use, like finishing up your administrative work and clearing your emails.
- You could also take the time to connect with people in the industry to build up your social network, or just make time for your family.
3. Deciding your own income
- Working under a company or a boss means you have a fixed amount of income set by someone else. However, being a freelancer means that you can decide how much you earn, and even more as you gain more experience in your work.
- An experienced freelancer would have the ability to subcontract to other freelancers, thus earning an amount from their work.
- Furthermore, you have the right to quote higher prices and have a wider variety of work to choose from as you start to diversify. You thus won’t have only one source of income and depend on it.
- Even though there are many ways for freelancers to earn their buck, one thing to note is to take things one step at a time.
- If you try to achieve many goals at once, you might end up with too many things on your plate and not achieve anything at all.
- Moreover, such goals might only be attainable once you have set a solid foundation in your work, which means it will take some time before you start seeing a sharp increase in your income.
- These advantages may seem great, but there is also another side to the coin.
1. Managing your finances
- As a freelancer, your income may be unstable especially at the start. This could be difficult for you as you need to plan your finances more carefully, especially how you will pay your bills and keep track of your savings.
- In the beginning, freelancers could end up working without payment because some contractors take advantage of them, or pay them late.
- It is thus important to take note when your payment comes so that you can plan your budget and expenses accordingly.
- Try to build social networks with your contractors and set a fixed date of payment, so that your income flow is protected and ensured. Additionally, you could ask for a deposit in a legal contract so that you know that you are getting paid for your work.
2. Getting your clients
- One of the challenges to freelancing is getting a fixed flow of clients because they are the ones who pay you. Sometimes your clients may be temporary so you are set off on another search for new clients again.
- Not only is finding a client hard enough for beginners, but you need to find reliable clients who are honest. There are also other freelancers that you need to compete with, and they might quote a much lower price for their work to get hired.
- This could be avoided by sticking to your clients instead of ditching them and finding new ones. You don’t have to adapt to new clients’ demands, and you can also ensure that you have a steady flow of income.
- Next, you should be able to present yourself to your clients as a better candidate than other freelancers. Know what you are strong in and pitch them to your potential clients.
- Freelancers have no bosses to check on them, and so it is up to you as a freelancer to manage your own time and work. If you do not discipline yourself, you won’t be earning anything.
- Since there is no one to tell you what to do and to hold you accountable, you could get easily distracted by your surroundings or the comfort of your own home.
- The people around you could also distract you. You need to remember that you are holding a full-time job and are responsible for how much you earn, so work in a conducive environment if you have to, and inform your friends that you are simply not free to hang out every other day.
With these advantages and disadvantages of becoming a freelancer, you now have a better idea of whether this is the path for you. Oftentimes, you are required to do more than just your line of work, because you are essentially your own boss. Freelancing requires patience and time to get the hang of, so don’t be hasty while making your decision. Whether you like stability or freedom, take some time to seriously consider your prospects.
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