While there are definitely character traits that make some people more suited to freelance work, the truth is that anyone can do it if they treat it like a regular job. Dedication and high standards will go a long way toward building a great reputation and opening you up to more opportunities.
So, let’s cover some of the pros and cons of being a freelancer or independent contractor.
Cons of Being a Freelancer
First, let’s talk about some of the cons when it comes to being a freelancer. Goodbye Steady Income: At least in the beginning. Building up a steady job of freelance projects and clients takes time and in that time your income will rise and fall. There will be times when you have no income coming in and you have to pull from your cash reserves (you have one of those right?) Other times, the cash seems to be pouring in and you’ll think your worries are over only to have the cycle begin again. Now, eventually, you can build up a steady stream of clients that bring you dependable income but know that financial ebbs and flows are normal in this line of work.
Hello Time Management: When you are a freelancer, there are no bosses to micromanage you. (YES!) However, the bad news is, there are no bosses to micromanage you. Time management is completely up to you. If you’re good at it, you will flourish. If you’re bad at it, you will find yourself consistently behind on deadlines and eventually scrounging for jobs.
Benefits? What Benefits?: When you are working for yourself as a freelancer or independent contractor, 99% of the time you will have to fend for yourself when it comes to health insurance, 401(k)s, and other benefits that a regular job provides. This can be frightening and a bit costly but there are solutions especially after your freelance business starts to pick up.
Staying in Shape: Although many of you may feel that being a freelancer or independent contractor will allow you more time to work out and get healthy, the reality is that it can actually be harder to do. Why? Because when you’re a freelancer, your entire income depends on finishing projects on time and to a high standard. If you’re a master of time management, you should have no problem fitting in a daily workout and staying in shape. If you’re not great at time management, it could prove to be a bit of a challenge.
Interruptions: When you work for yourself (and most of us usually work from home) suddenly everyone is vying for your attention. The spouse, the kids, the fur babies, EVERYONE. These interruptions usually don’t happen in the conventional workplace and it can be easy to be thrown off schedule. Boundaries are something that needs to be created and strictly adhered to to be successful in freelance.
Pros of Being a Freelancer
And now for the pros: You Call The Shots: When you are a freelancer or independent contractor, you get to decide when you work or not. You don’t have to take every job that comes along (and there are reasons for not taking a freelance project) or you can take every job that you come across. Deciding how much or how little to work is one of the biggest benefits of working for yourself. Travel Has No Limits: Well, almost no limits. Most freelance or independent contractor positions only require a laptop, maybe some peripherals, and an internet connection. Because of this, you can work literally from almost anywhere. Do you want to visit Europe? No problem. Miss your parents and want to visit for a month or two? No problem! Just feel like working on the beach for a while? Have at it! Just pack up the laptop and head out the door. The world is your oyster. Your Income Potential Has No Limits: If you’re willing to work hard to build a client base and reputation, it is indeed possible to make a very good living as a freelancer or independent contractor. Unlike a regular job, freelance work income depends entirely on you and how much you want to work. I know people who work just enough to buy little extras they want and I know others who have turned the freelance life into a rich life financially. It Can Be Pandemic-Proof: This isn’t always the case but as we’ve found out over the last year, being a freelancer has tremendous advantages. As the rest of the world sheltered in place and many lost their jobs, many freelancers found their skills and expertise in demand. As the reality of working from home began to settle in, freelancers were already set up and ready to go, making our income more stable in many instances than the general population.
So, How Do You Get Started In Freelance?
There are millions of freelance opportunities in the world and it’s important to be able to suss out the true opportunities from the scams. So, here are a few places to begin when looking for freelance or independent contractor projects. Start Where You Are: If you’re currently working a normal 9-5 job, talk with your boss to see if there’s any opportunity to work from home as a freelancer. Many employers, especially now, are welcoming the chance to have a more remote workforce. They are finding that workers are happier and do better work. They are also discovering their overhead expenses are reduced when fewer people work at a brick-and-mortar office and more except freelance positions that either no longer get benefits or get reduced benefits. Ask Around: You’d be surprised how many people are looking for writers, transcriptionists, coders, virtual assistants, accountants, and more but don’t want another full-time employee. You will also be surprised how many of those people you know personally – either family members or close friends. Inquire of everyone you know. If they don’t have something for you, they might know someone who does. Hit the World Wide Web: There are websites dedicated to finding freelance or independent contractor jobs. Again, do your research to make sure they are reputable source jobs before giving any information out. Some of the more well-known sites are Fiverr, Upwork, Freelancer, and LinkedIn Profinder and these don’t even begin to cover the sites aimed at specific expertise like transcription, writing, virtual assistants, and more.
So, as you can see, this is not even an exhaustive list of freelance or independent contractor work. Just do a quick internet search and you will find more places to find work than you’ve ever imagined. If you’re diligent, disciplined, and ready to do the work, you will find yourself earning a living as a freelancer in no time. Be patient and keep your standards high and eventually, you’ll have opportunities to find yourself rather than the other way around.
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