If you are like me then you definitely hate the 9-to-5 grind. And you must have at one point weighed the advantages and disadvantages of working as a freelancer.
We all want a bit of freedom as we earn our living. Unfortunately this is not possible when you are working for an organisation or company.
This is true for most of us and we are forced to brave the rain, snow and other negative weather elements just to make a couple of thousands of dollars every month.
If freelancing was readily available most of us would definitely say bye to our overbearing bosses almost immediately. Unfortunately life is not as easy as that for most of us.
To be perfectly honest the majority of us look at our jobs as the only secure way of making a living. If not us then our spouse and parents believe that freelancing is not a “real” job.
I have come across many who were trying to earn a living online being harangued by their spouses for not searching for real jobs. For most people “real” jobs means working for a company or organization.
The fact that people can work for themselves especially on the internet is yet to be accepted by many.
However with the advent of the internet freelancing cannot also happen online besides the normal freelancing we are all used to.
For those that are interested in knowing more about how they can make a living online I would sugggest that they visit the following posts.
14 Easy Ways to Make Extra Money On The Side From Home. Here you will learn all sorts of ways of making money from doing surveys, being a mystery shopper and many others.
How To Make Money With ClickBank. Clickbank is a platform that has helped many internet marketers to make a lot of money through digital affiliate products.
Surfer SEO Review: Best On-page SEO tool?. If you want to do well in the search engines you need to provide information in a way that the Google bots and others understand. This tool Surfer SEO helps you do that by examining the first page of Google results and asking you to prepare your article accordingly.
How To Start A WordPress Blog on Bluehost. Bluehost is one of the biggest web hosting companies in the world with millions of websites making Bluehost their home.
What are the advantages of being a freelancer?
Below are some of the advantages of being a freelancer:
1. Being your own master or boss.
If there is one thing that most people in the west hate about working for others is the fact that you are under the control of someone else. The fact that everyday you have to leave your home and fall under the authority of your boss.
A boss who assigns you stuff that you need to do that day. While this is not a big problem in some parts of the world, it is not a very popular proposition in the west.
People do it because they have no choice. We all look forward to the day we can be free from any control and do our own thing in our own way.
And doing this without being afraid of being fired as you are master of your own destiny. That is the dream for most people.
For those seriously considering this I have provided some links for posts in our blog that can help you achieve the work freedom you so desperately desire.
2. Ability to determine working hours.
If there is one thing I like about being a freelancer is the ability to determine my working hours. I hate having to wake up early in the morning every working day. I have struggled with this even when I was in school.
As a freelancer, you decide your own working hours. This is even much better when you are involved in internet marketing as you can have even more flexibility. As an internet marketer, I can work in my pajamas at the time of my own choosing.
And when your internet businesses are well established you can have the luxury of working for just two hours every day if you want to.
Actually, if you have a website that is established you can actually afford not to work on some days and still earn income.
I remember a couple of years ago I set up a youtube account and posted some videos in the first six months and thereafter did nothing. I was still able to get cheques from Google Adsense for years without me uploading any new videos. It was a real passive income.
3. One Can Choose His own clients
As a freelancer, you can choose the clients you want to work with. You are therefore not bound to work with clients that you are uncomfortable with.
This is not possible when you are an employee. We all have been in situations when we have had to deal with some very difficult clients at work.
Clients who can shout at you and utter some abusive words in the worst of cases. As an employee, you just have to bear with such clients as you have little say on clients. It is your employer who calls the shots when it comes to clients.
4. Choice of Location
As a freelancer, you decide on your work station or location. As an internet marketer, I can work at home. I can work while still in bed as I am my own boss.
As an employee, it is your employer who determines your work location. Even if you are a normal outdoor freelancer you still have the final say on your work location.
For example, as a plumber, you can narrow down your work area and refuse to go anywhere outside that zone.
5. You keep all the profits
As a freelancer all the money you make is yours. As an employee, you have a fixed salary in most cases.
Your salary remains the same regardless of the money you make for your employer unless if you are working as a salesman who is entitled to bonuses.
As a freelancer, your earnings are not static and if you are very successful then you make more money for yourself.
One of the things I hated as an employee was the 1%-2% annual increment I used to get every year. I thought it was too little when I had put in unpaid overtime hours throughout the year.
6. You develop new skills
As a freelancer, you are forced to learn new things as you are in charge of everything. You may now be responsible for preparing invoices, customer care, debt collection, dealing with the IRS, etc.
It is, therefore, a great way for personal development. You end up being an all-rounder when it comes to running a business. That is definitely a plus for anyone.
Disadvantages of being a freelancer
Below are some of the disadvantages of working as a freelancer.
1. Lack of interaction with other people
Working as a freelancer can be a tough experience if you are all alone. Man is a social being and needs some company. This may not be readily available if you are working alone . One can really feel isolated. This is not the case if you are working for a company or organisation as you have colleagues around you. You can chat about sports, politics etc and go out together during lunch hour. It is a good thing for our mental health.
2. Tax consequences
As a freelancer, you may be subject to taxes that are not applicable to employees. As a contractor, you are also legally required to keep certain records for tax purposes. You are also responsible for the payment of taxes to the tax authorities.
3. Lack of job security
Unfortunately, when you become a freelancer, there is no job security. You will need to find work to earn a living.
If there is no work then there is no revenue and therefore no salary for you. You, therefore, need to seriously consider all these things before you decide to become a freelancer.
It will not be good to leave your secure job and end up not find work to earn your living. Only take the plunge after you are convinced that you will easily find work when you leave.
4. The need for initial capital
For most businesses, you will need to find some start-up capital before you launch your business. You, therefore, need to source this cash first before you take the plunge.
It matters not whether it is an online business or not you will in almost allcases still need a bit of cash to buy items or things for your work.
Some of these things can include, tools, web expenses, computer software, insurance, etc. In some businesses you cannot get any work until you show that you have insurance.
It is therefore important that you do your homework first before you make the financial decision to be a freelancer.
5. Getting clients
One of the difficult things you can encounter as a freelancer is getting clients. Your business will prosper or flounder depending on how good you are at recruiting clients.
Clients are the engine of your business. You fail here then the future for your business could look bleach in the twinkling of an eye.
This means that you will have to spend some time recruiting new clients or customers.
I have a post on Future of Work Quotes that will open your eyes to what famous investors and others are saying about how we will work in the future.
Becoming a freelancer has many advantages and also some disadvantages. You therefore need to take some time to analyse all these before you escape the daily 9-to5 grind.
If you plan well then there is no reason why you cannot join those that have succeded
Please share below your views on this topic.