Taking the plunge and becoming your own boss is one of the most difficult decisions in the world of work. There are many issues, both positive and negative, to consider because everything will be in your hands. Being a freelancer means organizing everything yourself: time, billing and accounting, clients, advertising, etc with freelancing.
And although this can be, at first, a bit dizzying, more and more professionals are opting for this work model. In the United States, one of the most committed countries in this field, reports suggest that between 2020 and 2030, half of its workers will be freelance. Millennials, i.e. the youngest workers, are already reaching these figures. At the moment, it is very popular to provide essay writing assistance and it can be done by anyone who has experience and knowledge in certain areas.
Be that as it may, becoming a freelancer brings with it a series of advantages, and also disadvantages, which we will explain below so that you can assess whether it is the option that suits you best (and suits you best).
Advantages of freelancing
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More flexible schedule
Being freelance will allow you to work whenever you want, choosing your schedule and making the most of your time more productively. To achieve this, however, you will have to be very disciplined and organized.
Work wherever you want
Since you are not part of a company as such, you will not have to go to a physical place every day. This also saves time and money in commuting. Being a freelancer you not only have the option of working from home, but you can also do it from a co-working or from a place that favors your concentration and provides you with everything you need to work, such as a quiet coffee shop.
You choose your clients
When you work for a company you have to accept the clients that are given to you, whether you agree or not. If you are a freelance writer, you choose your own projects based on your knowledge.
No more explanations
When you are freelance, you are your own boss, so you are not accountable to anyone.
Profits, all for you
You are your own company so everything you generate with your work will be for you.
Disadvantages of freelancing
It can be difficult to find clients
Nowadays, competition among freelancers is brutal, so you may have a hard time finding clients. To find them and keep them, you will also have to act as a sales manager, marketing expert, etc. In addition, these clients are usually occasional and this has an impact on your salary.
There is no fixed salary
Your salary will depend on how many clients you have that month, the type of project you have been commissioned to do, etc. The way it works is totally different from that of a company, where you know at the end of the month what your fixed salary is, no matter what projects the company has.
Reconciling work and personal life can be more difficult
Being freelance and working when you want and where you want can blur the line between personal and professional. It’s easier to fall into endless days with an excessive workload.
Expenses, including all expenses for you.
You are your own company, so all expenses are on you.
What if you don’t get paid?
This is one of the biggest risks of being a freelancer, and also, unfortunately, one of the most common. You can do a project and don’t get paid.
You have to keep in mind that competition in the freelance world is fierce. You have to stand out and individualize yourself above the rest so that they will hire you, and not them.
Goodbye to social benefits
Being a freelancer means accepting that you won’t get sick days off, no personal business, and no paid vacation.
The best habits of a good freelancer
If, after carefully examining the pros and cons of freelancing, you think it’s the best option for you, here are a few tips to provide you with a safety net as you leap into the void.
1. You must have an emergency cushion
Becoming a freelancer may not work out for you right away. It is likely that before you make your first income, you will already have to face certain expenses. For that, it is advisable to have some savings that cover between the first 6 and 12 months of expenses to hold on to if things do not start well.
2. Business plan
It includes what you want to achieve, what kind of tasks you are going to carry out, how, etc. It also includes a medium or long-term economic forecast.
3. Budgets and work contracts that do not give rise to error
You must detail very well the conditions and clauses of each service you offer. Specify how you will work and, in the contracts, dates, services, penalties, and prices. It is better to be safe than sorry, so it is advisable to charge an advance. It is obvious but, keep and organize correctly all the documents to have them at hand in case you need them.
4. An active website
In addition to those who hire your services by recommendation, most of your clients will come to you through the Internet. To attract and retain them, you should have an updated website with useful information for your target, as well as a portfolio with some of your work. It will also help you to promote your personal brand through social networks, another potential place to attract clients.
5. Differentiate yourself and never let your guard down
Look for what makes you different from the competition and explore it. Also, in such a competitive world, you should always know what’s new in your sector, so keep training yourself.
Freelancing is very convenient these days, so if your resources allow you, why don’t you try your hand at it? Analyze how many and what kind of clients you had, your expenses and profits, your marketing campaigns, etc. to be able to detect mistakes and correct them in time.