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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Been thinking about this a lot. Especially the instability. Lots to consider!
I have been thinking about working from home and freelancing - 9-5 is definitely not for me!
Hi, thanks for dropping by, yes freelancing brings in flexibility and more opportunities that you can't get in the normal employment. Try to talk to people who've made it in freelancing to get some insights into what made them successful, or find a mentor or you can start by maintaining your fixed job while doing freelancing on the sides, that way you can be able to make an informed decision whether to quit your permanent job or not depending on your experience in the freelancing field.
Hi John,
I agree with your pros and cons. Sometimes I think I should retire from my day job and be a freelancer but for the reasons you've stated, I do both.
Janice
Hi Janice, yes, sometimes you have to weigh the options, and see what best works for you, otherwise thanks for visiting and taking time to comment on this post.
Being a freelancer or self employed is never an easy decision, but it can be extremely rewarding. You have some wonderful tips for the people thing about it.
Hi Mary, thanks for your insights.
I have just started my freelancing career and it is not easy. I am scared that clients will not pay me but excited that I have my own time now.
Am glad, that you've made the big first step, fear will always be there, but should not prevent you from achieving your dreams. All the best.
Not sure if I could be my own boss. Making my own hours sounds great, but not sure if I want the pressure of bringing in all of my income on my own!
So many people have made it in freelancing, maybe you can have a mentor to guide you.
These are all true! My first few months was difficult. There are clients who pay very low because I have no experience back then.
There is always a learning curve in everything. All the best.
Very true. I am a freelancer and have to say it’s either working great with you or completely destroy your life. Freelancer has total control and the way he or she treats the control is key to wellbeing. After starting freelance job I found tons of time I could spend whatever I like.
I like being my own boss, and that is the flexibility I like about Freelancing otherwise thanks for visiting.
I have run into all those pros and cons as a long time small business owner. I've learned a few things along the way. I'm still trying to learn not to overwork, though. I think getting lost in your job is a danger when you love what you are doing.
Hi Alicia, am grateful for your insightful comments.
I have a full time job but I am freelancing too through my blog so it's easier for me, I don't experience many of the disadvantages
Good of you. Keep the freelancing spirit.