Nowadays, freelancing is more than an option. It’s a way of living, a way of thinking. We’re witnessing the dynamic changes in every aspect of our lives, economy and business included. Once praised as the only righteous business model, the "9 to 5" mantra began to lose its purpose in the modern world.
There were too many dissatisfactions and frustrations that led once loyal workers to become more proactive and – take a leap into one of the two options: entrepreneurship or freelancing.
Being an entrepreneur often takes higher stakes than being a freelancer. Although you experience same quantity of freedom in both cases, the responsiblities are much higher in the case of the entrepreneurship. That’s one of the reasons why most people first decide to turn to freelancing as their main career choice.
It might sound like freelancing is easier than becoming an entrepreneur but things aren’t always as they seem at first sight. To prevent any false misconceptions about the vocation, here are the pros and cons of being a freelancer.
Pros
#1 Being your own boss
One of the most alluring thing about becoming a freelancer is the ability to be in charge. There’s no higher authority that will conduct your activities – it’s you, and only you who make decisions and take the moves.
Not everyone is meant to be a follower. Some of us are prone to being a leader, creating their own path, and following their own instincts.
Although there are many examples of how to become successful even when working for someone, becoming a freelancer is a great way to experience the freedom of creating your own path. Becoming a freelancer is often followed by many doubts and fears but the majority of people who decided to take a leap didn’t come to the old ways. So, why sacrifice your freedom any longer and miss the opportunity to become your own boss?
#2 Flexible schedule
Even though many companies are trying to offer as much benefits as they possibly can to keep the modern workers satisfied, not everyone feels excited about getting a better office or more days at home. Sometimes, life is too complex to be held down in order; for some people, the balance between work and family is an ideal that cannot be achieved easily. In that case, freelacing offers more freedom to create a schedule aroundyour hectic personal obligations.
Being a freelancer gives an opportunity to work whenever you want and for as long as you need to. That means that, on some days, you’ll be working 16 hours straight, while on the others you can work only 4 or 5. It’s hard to obtain that kind of flexibility within any "9 to 5" position, isn’t it?
#3 Flexible rates
Making enough money and being valued for your work is something that’s the most common deal-breaker when comes to deciding to quit a secure job at some company. Although receiving a paycheck every months creates security in your household, there will be times when you’ll feel you could be earning more money than you do now.
Even if you’re well-paid at this moment, being a freelancer enables you to determine your rates, without feeling underpaid. That way, you can create the income you really need, without pursuing an additional job or taking more hours within the current one.
#4 Working from home/remotely
Working in the office became out-dated, especially for creative professions like copywriting, graphic design, or digital marketing. Nowadays, start-ups and small-sized companies tend to establish alternative working environments, and one of the most popular among them is definitely home-based work.
One of the good sides of being a freelancer is that you’re not restricted to the rigid office space. In fact, you can bring your work with you, whenever you go. That sense of freedom enables you to execute more effectivelly. On the other hand, you won’t be struggling to balance between your family time and your work; you can be on vacation and still be able to work.
#5 Less stress/more freedom
Having the ability to decide when you will work is a major upside to becoming a freelancer. Some people are struggling with the traditional working roles simply because they need more flexibility, and freelancing can offer that.
More freedom brings you less stress, as well. When you organize your working day according to your own plans, there will be plenty of room for everyone and everything in your life. And that alone will bring you joy and uplift your productivity to a whole another level.
Cons
#1 Lack of security
Although being a freelancer brings many benefits in a good way, there are still some major downsides to the vocation. One of the many is lack of security, especially financial. If you’re not willing to sacrifice a secure income that will allow you to have a peace of mind, freelancing might be a challenging option.
It’s exciting to be able to create your schedule or to determine your rates; however, being a freelancer requires a lot of patience, especially in the beginning. The lack of financial security – meaning you will probably struggle for a while until you establish a secure cash-flow – can be daunting, making many beginners to quit within a month or two.
#2 Strugging all the time
In the beginning, freelancers will have to build their name on the market, which can be a bit challenging. Often, they offer their services for free in exchange for the recommendation or the experience. That means that if you don’t already have some stash on the side, you will have to find some other source of income until you establish the secure income through freelancing.
Even when you launch your career and move from that daunting starting point, you will often face the uncertainty about how much will you make, and, especially, when you’ll be paid. Unlike the traditional jobs, being a freelancer brings more ups and downs in the sense of securing an income and providing for your family.
#3 Procrastination
Besides financial insecurities, procrastination is another major downside of being a freelancer. Since most freelancers work from home, they are facing the lack of routine, the constant interruptions, and the distractions created by intertwining the work with day-to-day activities.
Although being a freelancer requires greater discipline because of the work environment, procrastination also happens in the office. However, the difference lies in the fact that freelancers operate on their own, which brings more responsibility and requires more self-discipline than in the traditional work setting.
#4 Dealing with clients
When you’re working for someone, it’s inevitable to feel protected. In the company, there is always someone who „takes care“ about you – your finances, your taxes, and even your clients. However, when you’re a freelancer, you have to deal with all those things by yourself.
Since you’re the first line when dealing with clients, it’s more often that you’ll face the unpleasant side of becoming a freelancer. Clients with poor communication skills or indecisive clients are on the top of the freelancer’s black list. Not to mention clients who don’t want to pay you!
#5 High risk of failure
It seems like freelancing goes down to financial insecurity and the lack of discipline. In reality, many freelancers started their own comapnies after a while, and some others are still doing great. In fact, your ability to sell yourself on the market is one of the keys to succeeding in the world of freelancing.
The risk of failure as a freelancer does not always mean the financial risk. Losing clients and facing different legal issues are also on the risky side of being a freelancer. However, the higher the risk, the better the stake – and if you follow some of the proven tips we’re about to share with you, you’re definitely taste the success in your freelancing career.
