Freelancing Beginner Tips: Facts, Pitfalls and Perks

Do you want to enter the self-employed world? Do you want to take a break from your corporate presence? Well, freelancing is the perfect choice for you, where you can take the control of your work in your own hands. According to a recent survey conducted in the U.S, it has been found that almost one third of the American workforce is involved in freelancing jobs. Though it is a great way to begin your career, one must test the waters before venturing into anything new.  Rash and decisions without much thought and research can change your life either positively or negatively. So, get the scoop from previous freelancers regarding its pitfalls and perks. This blog will present some truths and benefits of freelancing. In addition to this, it will also enumerate some stumbling blocks of this vocation. Let us see what they are.  

Facts of freelancing

Spend lot of time alone

In freelancing, you are your own boss. This venture gives you the opportunity to work as per your own pace and will. You will have the solace of no one breathing down your neck, which is beyond believe in a traditional job. As your own boss, freelancing allows you to to choose your own work, clients and also your preferred time of work. Since you report to know one you have the freedom to work with much flexibility.  

Isolation and Solitude

As a freelancer, you alone are responsible for everything. Though you will have a chance to associate with people, much of your time will be devoted to accomplish your own work. .. You yourself will have to set your work schedule, projects, clients and workplace. In this field, it is extremely important to work independently and keep yourself motivated towards achievement of work goal. All of these require greater time on your part and this could make you feel isolated.

Earn more than regular employees do

Limited projects do not haunt freelancers. They can work with enormous number of clients and can hold unlimited number of projects. As a freelancer, the more you work, the greater are your chances of increasing income.  According to a recent survey on freelancers, “most of the freelancers indicated that they started to earn more than what they used to receive while working as a regular employee”. It is a clear indication that freelancing can be a much more lucrative career option than traditional jobs. Thus, this can be a great option for newbies looking out for a career in freelancing.  

Scope to hold traditional job

Are you apprehensive of leaving your job and joining freelancing? Well, then this can be good news. You do not have to necessarily leave your full time job and make freelancing as a permanent option. You could opt for freelancing along with your regular job to increase your income. A study conducted in the U.S demonstrated that “among 53 million of total freelancer, 14.3 million freelancers have their own full time job and 9.3 million freelancers have part time jobs”.  So, you can successfully handle both freelancing as well as traditional jobs simultaneously.

Pitfalls of freelancing

Inconsistency in monthly income

If you are working in an organization, then you are pretty guaranteed with regular tasks and a monthly income. You will never face shortage of any of them. However, freelancing does not guarantee you regular tasks and a stable monthly income. Inconsistency in your incoming work will ultimately lead to inconsistency in your income. You could face heavy downpour of income on certain months, while others could show a draught in income. On the other hand, you may not find enough jobs. As a result, you may suffer from income instability.

Managing work only by own

While doing freelancing, you are responsible to search for clients as well as projects by your own. On the other hand, in full time employment, your projects are taken care of for you and you just have to work on it. As you will not get anyone to support your work, you are solely responsible to manage your work properly. It causes lots of legwork on your part. Sometimes it creates huge work pressure, as you have to do advertisement and make contacts with clients along with successful completion of work simultaneously.

No employee welfare

You may lose many lucrative benefits in freelancing, that regular employees get from their employers. Regular employees get a health insurance and pension in a consistent way. Those welfares are not available in freelancing. Health insurances are extremely expensive and freelancing keeps you away from such advantages. Moreover, a freelancing lifestyle will fail to interest you if you are looking for paid leaves and vacations.. No work and no pay is the policy followed in freelancing. Thus, as self-employed freelancer you could be bereft of such advantages.

Perks of freelancing

Flexibility in work schedule

Many people cannot accommodate themselves with their regular nine to five work schedule. Freelancing is the only option in which you can choose your work schedule as per your flexibility. If you think that you are most productive at early morning or late night, then you have freedom to choose any of those working time. You will also get scope to adjust your work schedule for fully living your life.

Freedom to choose projects

While working in a traditional job, you may often feel boredom in doing the projects, which you do not actually like. In this way, your work morale may be diminished. Freelancing has the advantage of choosing preferred projects. You can choose your own projects and work on those. You have the freedom of choosing projects in your own domain by avoiding other projects. Choosing projects in known field will ultimately increase your productivity and efficiency of work.

No need to be worried about lay off

During downsizing of organization, you may be laid off from your organization by your employer. So, in a traditional job, you always have the fear of being terminated. If you are terminated, it will definitely affect your financial condition.  Do not worry!!! Take the control of your career in your hands. In freelancing, you can work with several clients. You do not have to depend on one particular employer to pay you. If you are not satisfied with one employer, then you are free to switch to another employer. Having freedom to choose employers, will also give scope to negotiate with them for better payment.