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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I would love to freelance. I think I will try next year to switch from 8 work hours to 4 and to freelance in rest. This way I can still have a safety net and benefits and do something I like as well.
Hi Cristina, am glad that this post has provided you with the drive to start freelancing. Welcome.
I love the tips in your post. Going freelancer has great pros, but also good number of cons. However, I enjoy creating my own schedule and having time for myself.
Well noted. Thanks.
I love your post. Your facts about being a freelancer sounds great and helpful. Thanks for sharing.
Welcome.
Benefits and no retirement are the toughest cons. But being home for the kids is priceless
Noted. Thanks for visiting.
I would love to be my own boss. It would be so stressful at first to get going. I will have to share this with my friend. She is thinking about being a freelancer.
Appreciated.
Agree with all of the above! In some cases, it's much more work than a 9 to 5 because you're out searching for clients and selling yourself. Not everyone is cut out for it. I have a lot of respect for freelancers. It's tough to be in a volatile environment where sometimes you have work and sometimes you don't. I honestly don't think I would be able to cope with that. I like the 9 to 5.
Thanks for your comments on this post. Some people find the 9-5 working well for them while others not, so it is better to invest time where you feel you get the most value for it.
I am on the fence about this myself. I have been going back and forth and with two kids the instability makes me nervous. However, a i also know there is potential to be amazing! It’s a leap of faith for sure. Thank you for sharing this info!
Hi, thanks for taking time to comment on the post.
This resonates so deeply with me as I am in the process of deciding if this is a change that I want to make. With two kids, the instability makes me nervous but the benefits could be amazing! thank you for providing this helpful information
Most welcomed.
I have just started to work as a freelancer for a few clients. I can see all the benefits of course but I also understand the drawbacks now.
Thanks for visiting.
Having to chase clients down for them to pay me is definitely the biggest con of being a freelancer. I do like the flexibility though.
Hi Diaz, am grateful for your comments. I too love the flexibility aspect of freelancing.