The Pros and Cons of Freelancing
A freelancer is someone who is self employed and works for different companies as a consultant or contractor. Freelancing has grown over the years to become quite a popular and accepted job. More and more businesses are happily searching for freelancers to complete short (or long) term tasks in their business and more people are looking at this option as a viable way to earn a full time income working from home. However, like any opportunity, there are pros and cons that need to be considered before going it alone.
Control Your Job Selection
When you have a desk job at a company, you have to report to your boss and do what they tell you to. You can be handed any client even if you don’t like them. But when you are a freelancer, you can choose to work with whoever you please. You can select the work you want to bid for, and if there is a client you don’t like, you can politely refuse to work for them
Flexible hours are perhaps the best advantage one gets when working as a freelancer. You can choose to work whenever you want, and not stuck with getting up at 5 in the morning to reporting to the office by 9 am. You can choose your hours, take the weekends off or work at night if that is when you are most productive. As a freelancer, you work as much or as little as you desire.
Be Your Own Boss
Be your own boss is a huge advantage for people who don’t like to be controlled. Having no boss can be a desirable situation for many, which is why they choose to work as freelancers. Once you become a freelancer, you are only answerable to yourself or your client. If you fail to complete a task or job on time, you are losing your money and worth but won’t be answerable to any boss.
When you are working for someone else, you get paid a flat rate no matter how hard you work in a month. However, a freelancer gets to keep all the money to themselves, and no matter how big or small the profits are, they are hers. Neither does a freelancer have to distribute profits to any partner, so it’s a huge attraction for ambitious people who think they can work extra hard to make enough cash.
Work Where Your Heart Desires
Working as a freelancer means you have the flexibility to work anywhere, whether at home, coffee shop, library or at the park. You have the freedom to find a place or space that motivates or inspires you.
No Steady Source of Income
Working as a freelancer, unfortunately, has many disadvantages as well, the foremost being that there is no steady source of income for freelancers. When you have a regular job, you know you are going to get paid at the end of the week or month, but working as a freelancer does not ensure a fixed income. It’s not always necessary that you will get the job you are looking for, and you might certainly have a hard time finding clients to work for if you are inexperienced.
Working Hard To Find Work
When you are working for a company, most of the work you have to do is handed to you by your employer. However, working as a freelancer, you may have to work extra hard to get a client. Many freelancers have to spend countless hours looking for their desired jobs, and even after then, only the more capable freelancers have a higher chance of landing the job.
Freelancers might end up getting scammed if they are not careful enough. It is quite common for Freelances not getting paid for their work, especially if they are not using a reliable source. Most of the times, freelancers are too late in recognizing the risk they run of not getting paid. Debt collection can be hectic on some occasions as well and may take up too much of an effort if the clients they are dealing with are troublesome.
No Employee Benefits
When you are working for someone in a company, you get to enjoy a lot of advantages from benefits the company offers you. Working full time as a freelancer means you pay your way for insurance, retirement, and holidays. You can work your full-time job and supplement your income by freelance as long as it makes financial sense.
Work and Personal Time Conflict
Freelancers often get sucked into their work and distinguishing between personal and work time can get hard. Since you are your boss, you may push yourself to work harder and may end up sacrificing your own personal leisure time for work.
Now you have a fairly clear idea about the positive and negative aspects of freelancing. You can decide if freelancing is your thing or not, however, it can be one of the most genuine and easiest ways to start earning extra cash. You don’t even have to do what others tell you to, for you can choose to work for whomever and whatever you like.