Is Freelancing for Me?
Things to consider if you are interested in becoming a freelancer.
It is normal that it has crossed your mind to try to work on your own, perhaps in your free time to start and if everything goes well you have even thought of doing it full-time, and for obvious reasons before starting or maybe when you are getting your first clients suddenly the question comes to your mind: Is freelancing for me?
Yes, there are many advantages of working as a freelancer, especially now that we are going through a pandemic, where many of us have been forced to work from home, and suddenly we get used to having this “freedom” to work at the hours that work for us, or simply to work from the comfort of our sofa.
But there’s more to being a freelancer than just “working from anywhere.”
What Does Working as a Freelancer Entail?
There are many advantages and if you really put your mind to it, anyone can succeed working as a freelancer; however, there are some things you have to consider if you decide to take this path.
- You are your own boss
Sounds great, doesn’t it? But do not forget that with great freedom also comes responsibility. Yes, you will not have a boss to answer to but you will be in charge of your own business and you will be your own worker (at least at the beginning of your freelance career).
- You determine your income
There is indeed a great demand for freelancers in many professional fields, but working on your own, without a company that supports you and without a fixed salary also means that you will not have financial or work “stability”, and although it is very feasible to do this full-time and most likely with more success than you would have in a permanent job, at least at the beginning you will have to deal with some uncertainty.
You already asked yourself the question: is freelancing for me? And you decided that it is worth trying and having a taste of this freedom that everyone talks about. Whether you decided to do it part-time or full-time, you have to consider that this takes time and commitment. You are free to organize your day and your workload, and you must learn to prioritize freelancing with everything that you have going on in your life and your work if you still have a 9 to 5.
What Are the Pros and Cons of Freelancing?
Whenever you’re about to make an important decision, it’s smart to make a list of pros and cons to help you understand both sides of the spectrum so you can make a better decision.
Like everything, something is not always going to be all good or all bad, and freelancing is definitely no exception. Of course, there are very good things and others not so much, it will be up to you to inform yourself more about the niche you decide on, but in a more general range they are the following.
- Location flexibility: Working from wherever you want is one of the main reasons why freelancing is attractive to many people, it is undoubtedly a lifestyle where working from home is a very viable option, and if you want to work from wherever you want (or can) like in a cafe, in a park, from your cell phone in traffic, even while traveling; you just need to have a wifi signal and it is possible to work.
- Flexibility in your workload: Deciding how long you want to work depends only on you, maybe you prefer to have days where you focus 100% on work and have days of total disconnection.
- Freedom to prioritize your personal needs: This is a great way to have a flexible schedule that suits your needs, it’s all about finding a balance and a lifestyle you’re comfortable with.
- Creative variety: Unlike in a permanent job, with freelancing you have the opportunity to choose projects that you like and are passionate about, instead of working doing the same thing day after day, it is always something different.
- Growth potential: Since you have the freedom to set the prices of the services you offer, by achieving a good reputation in the work you deliver to your clients you can easily increase your prices as your skills improve; there is really no limit to the earnings you can make in your freelancing business.
- Varied workflow: Although it does not always have to be seen as a bad thing, perhaps it is challenging the fact that sometimes there may be periods in which you have many clients and many different projects while in other periods you cannot find many or sometimes no clients.
- Inconsistent earnings: We talk about you having the power to set your own prices for what your work is worth, but in freelancing, you do not have a fixed salary like the one that employees who work in companies usually have. Here you basically earn according to what you work.
- Handling your own taxes: No longer being an employee whose taxes are deducted directly from your paycheck, you are now responsible for setting aside at least 25% of your earnings and paying your taxes on your own.
- Not having employee benefits: Apart from taxes, by not working for a company, you do not have other rights such as life insurance, paid vacations, and other benefits.
- Responsibility for every aspect of your work: You are now your own boss, which means that both the success and failure of your business depend 100% on you. And although it is something new and exciting it can also be a lot for a person and especially if you are just starting out.
- Lonely job: Although it is not always the case, freelancing is a lonely career. It is true that sometimes some freelancers work on projects together, but most of the time you will be alone. If it is something that does not bother you or that catches your attention, this career is perfect for you.
Definitely one of the greatest advantages of working as an independent is that each person can build their path in this world at their own pace, which is why it is a viable option that, although it can start as a way to generate extra income, can easily become your career path if you want it that way.
So if you have the question is freelancing for me? The best answer is to try it and see for yourself if it is actually something you like and really want to do.
Who knows, maybe it could be the beginning of a new adventure and a life of freedom where you can turn a hobby into your job.
Before You Go
If you found this article useful, you should take a look at Can Freelancing be a Full Time Career? to see how you can completely dedicate yourself to this.
Freelance marketplace: Revolancer