You may be at that point where you want to quit your full-time job and try your luck at entrepreneurship. This maybe a new area to you completely especially if you are venturing into a freelancing career. This is a life changing decision which may impact you either in a positive or negative way. Let us look at the Pros and Cons of being a freelancer.
You are not under the management of anyone other than yourself and your clients. You are responsible for all the tough decisions. To say the least, you are in control.
You can work whenever you want. You get to choose your own hours-the working hours don’t have to be the regular business hours.
You collect and Keep all the cash from various Jobs – You have no restrictions when it comes to collecting the payments whether the projects are big or small. You can allocate or keep all the profits from your large and small projects and clients. This gives you the freedom to decide how to use the money on either improving yourself or expanding the business.
You are no longer stuck in an office or even in your home. You have the freedom to find a place that you can work best from.
Being a freelancer gives you the freedom of choosing who you would like to work with unlike in fixed job, in some cases you will have to work with unprofessional or rude clients.
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Health benefits are expensive. Depending on your current health, switching to a freelance lifestyle might not be in your best interest. Besides, starting your own freelance business means you no longer have paid sick days or vacation time to use. Each day you don’t work is a day you won’t get paid.
Freelancing may mean unstable income and workload that is inconsistent. In most cases you won’t be able to depend on any regular project, client or profit whereas in normal full-time job, you are sure of a salary.
You are in charge of finding all your own clients and projects. In a traditional job, you might get projects or clients being handed to you. This means that, you do everything by yourself.
Being a freelancer also means that you run the risk of not getting paid or pushing people to pay you. Their maybe ways to protect yourself from non-paying clients, but sometimes you may not realize the risk until it is too late.
Being a freelancer, gives you the freedom to be your own boss and even work from home, this may make it difficult for you to distinguish between your work time and your personal life.
Related: Over 20 sites that offers opportunities to make money online
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Freelancing means having the freedom to decide which work to do and who to work with but it also means instability. You have to evaluate all these, and decide if it is worth you leaving the traditional 9-5 job.
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Good thoughts. Remember to mention that the money you make will need to be responsibly allocated for taxes. Sometimes it's a huge con to keep track of things like that.
Hi Kat, thanks for adding more information.
Great that you're being so realistic and show what's actually going on if you're a freelancer. Good post!
Hi Sophie, thanks for visiting.
Yes, yes and yes again! Despite all of the disadvantages (which can indeed be very annoying) I still prefer this lifestyle over being an employee working a 9-5 office job. Thanks for sharing!
Most welcomed.
Very solid article and helpful to me as I am just going into freelance work. Thanks!
Welcome.
I have been contemplating quitting the corporate job for a while but the con list is still a bit too strong without a safety net. Great advice.
Thanks.
Hey Thanks for sharing! Fear I think is what's keeping me from taking the leap ! But working on it.
Thanks for visiting.
Great tips. I love freelancing, you can work in your free hours from the comfort zone of your home.
Exactly, most welcomed.
Very useful post. Many thanks.
Welcome.
I think the pros definitely outweigh the cons ;)
Yeah, but you should weigh all the options, and see what works best for you.
These are all so true and a lot of the same perks and cons can be applied to being a blogger.
I agree with you, in fact blogging is kind of freelancing especially if you work for sponsorship brands.