Is Freelancing For You? The pros and cons

Freelancing isn’t for everyone. Being your own boss can be both rewarding and challenging. Ultimately, though, the choice is yours.

Freelancing in a home office

Today, more people than ever are choosing to freelance. Freelancing has become a lifestyle choice for many, and these freelancers are doing it all: from photography, graphic design, blogging, copywriting and web development to writing code, designing apps and marketing etc.

Before deciding freelancing may be right for you, decide what you want to get out of it. Here are the pros and cons that other freelancers have shared to help you decide.

The Pros of Freelancing

Freelancing is becoming a more popular career choice, and with the many benefits it comes, it’s easy to see why. Freelancers can work from anywhere in the world, set their own schedule, and choose to work with anyone that they want. If you don’t like your boss or you just don’t fit into a corporate setting, freelancing is your way out. Below are popular pros of freelancing.

Flexibility

Freelancing allows you the flexibility to work when and where you want, with whom you want, and on the projects that interest you. No more commuting for hours a day, no more office politics, nobody to answer to but yourself. Freelancing is also flexible in that it allows you to make money while at home taking care of your kids or caring for a sick relative.

Money

Freelancing is a good way to make good money and enjoy flexibility in your working life. Money is a dominant motivating factor for freelance workers. Depending on the job you take, your earning potential can be practically limitless. Also, as a freelancer, you get to work with many clients and companies from different industries at once.

Choose Who You Work With

Freelancing is largely about freedom. Freedom to pick who you work with, what you do and when you do it. So why wouldn’t it be the same for being paid? There are no set salaries; you pay yourself what you want based on how much value you bring to your clients, how many days per month you work or even for free if that’s how it shakes out.

Be Your Own Boss

When you freelance, you work on your own terms and get to be your own boss. And when you’re true to yourself and the work that you want to do, it’s much easier to become successful. Freelancers get the recognition they deserve for the work they do. With no boss looking over your shoulder, you have the freedom to be creative and thrive creatively.

Build Skills

When you’re a part of a company, you only get to build your skills on the specific job at hand. Being a consultant or freelancer allows you to continually sharpen the saw by taking on new and diverse projects. When that dullness creeps in, it’s time to move on and try something new. You’ll have no problem finding something else interesting and challenging to keep you learning and growing as a professional.

Freelancer working on a gig

The Cons of Freelancing

Freelancing presents a host of challenges, as well. From the hunt for business to guessing how much to charge, there are always new problems to consider. Here are a few challenges of freelancing.

Irregular Income

Freelancers don’t get a salary; they get paid for the work they do and work with irregular income. That makes it harder to predict what kind of cash flow you’ll have on a monthly or annual basis and can result in money leaving your bank account when you least expect it.

Loneliness

Loneliness is a real problem for freelancers. Freelancing can bring on loneliness. It’s just you, your computer, and a lot of work. You get to choose who you work with, but purely connecting with people isn’t always as easy.

Freelancers spend most of their day by themselves, at home, often alone with no one to talk to. They see clients or coworkers only at certain times during the day and might have trouble reaching out when they’re feeling isolated.

Ultimate Responsibility

The hardest part of freelancing is knowing that it’s all on you. There is no office to be inspired in, no manager to assign you new tasks or check your work, and there is only you, your computer, and your imagination. When you take a job, the buck stops with you – you hold the cards and have no one to blame but yourself when something goes wrong.

It also means you need to be insured with professional indemnity insurance to make sure you have your back covered if a client gets difficult or suffers losses. As a result of your bad work or you are doing something wrong. There won’t be a manager or company to smooth things over for you.

Conclusion

The value of freelancing is undeniable. It’s more convenient, more flexible and gets you the money sooner. However, freelancing also takes a lot of energy and patience to build your client base and keep it once you have one.

Being a freelancer or a freelancing entrepreneur isn’t easy, but with a little perseverance and some help from others who are already on their way, it can be done.

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