Freelancing is a profession that has been growing in popularity, mainly because of the advantages it provides. Freelancing defies traditional job standards and requirements and brings equal opportunities for people worldwide. No more job commuting, no more 9-5 workday, and dress code. People who were not able to fit into work environments and are unable to commute long distances can excel as freelancers.
However, things are not always as they seem. As with any other of these opportunities to make money online, freelancing also has drawbacks which is why the job might not be the right fit for just about anyone.
Who is a freelancer
A freelancer is a self-employed person. This person works with clients, and this often includes working with multiple clients at the same time. Freelancers offer their services to other companies or even to individuals.
In terms of working hours, a freelancing job is quite a flexible one. Usually, there are no specific work hours during the day that a freelancer needs to work which gives them the freedom to organize their day more independently, as long as they leave enough time to complete all the work by the instructed deadline. Occasionally, clients might require for a freelancer to be available during a specified period of the day, but this is something both parties should agree upon upfront.
Freelancers can do this job as a full-time job which means they will devote all of their time to finding freelancing gigs. What this means is that their income entirely depends on the work they do and the projects they complete successfully. Unlike with traditional job, freelancers do not have a fixed salary. The income usually differs from month to month.
A certain part of freelancers retains their 9-5 job and do freelancing in their free time. This is a well-known road to starting freelancing full-time. People keep their regular job until they have enough clients and experience to make their living through freelancing only. Keeping the old job provides security regarding steady income and sort of a “safety net” if things do not go as planned with freelancing.
Advantages
Here are the most important advantages to have in mind when you consider becoming a freelancer:
Flexible hours
Again, this is the best advantage one can get with freelancing. If you are not a morning person, you can set your work day to start at noon. Because, why not? The job allows you to do this, as long as you do all your tasks during the day.
Independence
As a freelancer, you work as an independent contractor. Unlike employees, you have more control of your work and you do not have obligations to complete the work you do not want. However, in this case, your reputation is at stake, and you risk losing a client.
Set your own price
Freelancers usually get paid more than employees. First of all, besides work hours freelancers also have to cover their overhead and other expenses which regular employees do not have. All of this needs to be calculated in the freelancer’s price. Furthermore, as a freelancer, you get to decide how much you are worth. You get to set your own price and only work with clients who are willing to pay that price.
Easy to start
If you already know how to provide a particular service, you most likely also have the equipment needed to do that. For example, if you are a web developer, chances are you already have a computer. This means that your costs to startup your freelancing career will be pretty minimal if existent at all.
Growing market
The global economy is developing in such a way that it welcomes more and more freelancers each year. Unlike traditional employees, freelancers become a better choice for companies who prefer not having to commit to an employee and to provide long-term contracts. Instead, working with freelancers gives them more flexibility as well, which is why freelancing services are in such high demand.
No barriers
As a freelancer, you can work from anywhere in the world, for any company in the world. There really should be no barriers stopping you from seeking jobs globally. This opens up so many exciting opportunities.
Disadvantages
To realize that things are not always as ideal as they seem, you also need to take into account these disadvantages of freelancing.
Deadlines and schedules
Even if your work hours are flexible, you will be working with clients who have deadlines and busy schedules. This means that occasionally you will have to work even if you have not planned on doing so. You might also end up pulling an all-nighter when the situation is urgent. Sometimes, you might even have to adapt to the client’s time zone, which might be the opposite of yours.
No consistent work
Although you might be able to get some regular clients and ensure a relatively steady monthly income, in general freelancing is a gig work. This means that at times you will have so much work to do that you will end up sitting glued to your computer for hours. Other times, there might not be enough work. This means that you will take opportunities even if you know you are pretty busy, just to ensure that you earn enough to cover for a less busy period.
Learning to manage and prioritize
Lack of consistency in work will also require you to learn to manage your clients and tasks. From time to time, you will even have to prioritize one over the other, and you have to be able to make the right decisions because these affect your relationship with the clients.
Relying on your reputation
Many future projects will depend on your reputation. You need to have a shiny portfolio and good recommendations to be able to score better projects in the future. It is also important to maintain a good relationship with your clients and to be able to do so, you will have to be successful at communicating well with people.
Taking care of yourself
Freelancing does not come with perks such as health insurance, paid taxes, and similar expenses. These are all expenses defined by the country you live in, and you will need to take care of all of them on your own. When you are a freelancer, it is not required to start your own company to be able to work on projects, but there are specific regulations which you need to explore. Since this is a relatively new career, these regulations are frequently updated, so it is best to stay informed.
No sick/maternity leave
Freelancers usually do not have sick or maternity leave. They can take a couple of days off, and most clients will not mind that, but unlike traditional jobs, most freelancers are not getting paid unless they work and provide results.
