Are you considering quitting that corporate job in favor of life as a freelancer? For most employees and those searching for gainful work, the independence of a freelance career can sound adventurous and liberating.
Is freelancing worth the risk? Many prospective freelancers have struggled with these questions as they try to choose between freelancing and formal employment.
To get you started, here are some of the main benefits and drawbacks of freelance work.
Benefits of Freelance Work
Flexible working hours and working location
Freelancing allows you to work whenever and wherever you want. You get to choose the hours during which you are comfortable working. According to Mary Simpsons who quit her job as a bank teller to enter into freelancing, “If you wish to sleep till noon and work the whole night, you can do that.”
In fact, as a freelancing you get the choice of working during your most productive hours, which do not have to fall within the regular business hours. In traditional employment, you have a schedule to keep, whether there is work to do or not, regardless of your mood.
In terms of location, freelancing is a paradise for those who desire the laptop-lifestyle. This type of work comes with the important freedom to work from anywhere (even your bed), as long as you do your job well and deliver on time. “As a freelancer, the main commitment is to deliver quality work to the client and you get to pick where and when to work,” Simpsons said.
- Control over Choosing Clients and Jobs
If you are formally employed, then you know that you rarely have the choice of which client to work with or which job to work on. Your superior or supervisor often dictates what should be done and when, and you can be stuck with clients who are rude or unprofessional. However, these are problems you do not have to deal with as a freelancer. Freelancers get to pick their clients, and can pass on an opportunity to work with someone they don’t mesh well with in terms of business or personal philosophies.
As a freelancer, you also have the freedom to decide when to stop working with a client. For instance, if you have too many clients and too much workload, you can reduce the stress by dropping any of your clients. In any case, having control of your workload is good for your mental and physical health, at least according to a recent study conducted by Kansas State University.
- Be your own boss
The ultimate dream of a majority of people is to be their own bosses. If this applies to you, then you will certainly enjoy life as a freelancer. In this line of work, you have no one to answer to, other than yourself and your clients. You do not get to experience the pressure and displeasure of someone micromanaging everything you do. Research has linked working with an unpleasant boss to various adverse effects, including sleep complications, depression, and high blood pressure. In fact, you are free to do as you please anytime you wish. If you desire control, making all the big decisions just became your responsibility.
- A chance to earn more
Well, as a freelancer, you control how much you earn. You have a chance to work with clients beyond any geographic limitations. As such, you can work on what optimally remunerates your skills. According to a Ronald, a well-established freelance writer, “Freelancing opens up a ton of opportunities to participate in the global workforce and maximize returns.” You are no longer restricted by a flat rate.
Some Drawbacks of Freelancing
While freelancing may sound like paradise to those interested in this line of work, there are some cons to consider. For instance:
Lack of reliable or steady workloads and cash flow
The downside of freelancing is the fact that your income and workload destabilizes significantly. There is no regular client or project to rely on. When working in formal employment, you know what your pay is and when to expect it. As a freelancer, in the same where there is no limit to your earnings, there is also no bottom.
If you get projects to work on, collecting payments can be a challenge once the work is complete. While there are ways to protect yourself from the non-paying customers, sometimes you get to realize their intention when it is too late.
- Work life balance can be challenging
When you are free to choose your working hours and working location, it can be difficult to separate your personal life from your work time. The implication here is that you can tend to work longer hours, without making time for your personal interests. In addition, there is the issue of social isolation, as you will often have to work alone from a home office, without colleagues to consult.
- Freelancing comes with a lot of legwork
As a freelancer, you will be generally in charge of bagging all your own clients and projects. In the traditional employment setting, projects are typically handed to employees. With the new responsibility of finding projects and clients, there is more legwork on your part. You have to play the parts of marketing, sales and advertising. To make it worse, finding work is often challenging if you are a new freelancer, without a strong portfolio.
The Takeaway
The decision to join freelancing can be a life-changing one, and must be considered carefully. From the merits and demerits discussed here, you can make an informed decision on whether to become a freelancer or remain in traditional employment.
If you wish to become a freelance writer, a starting point would be to work with a top essay writing service like PrivateWriting. The company offers an unending flow of projects and attractive remuneration for freelancer writers. Go ahead and try it out.
