Should I quit my job and be my own boss? Is my full time job draining all my energies and preventing me from having the life that I want? Am I stuck in a place? These are questions you hear a lot these days.
More and more people are now thinking about switching from a full time job to freelancing. The young generation is more and more into the idea of starting their own business or working independently. On the other hand companies are increasingly hiring freelancers to meet work demands rather than full-time employees. According to the data collected by the freelance union, more than 55 million people in America consider themselves freelance contractors. This statistical data is enough to relate to the growth of the freelance economy.
If you are thinking about stepping out of your comfort zone and give freelancing a try, here are a few pros and cons that may help you make that decision:
1) Being your own boss
Freelancing gives you the opportunity to build your own brand. You are the one to decide the kind of people you’d like to work with, and the kind of work you’d like to do. After a point, you will know exactly the type of clients you want. You’ll have the freedom to pick just those.
2) No fixed location
When you are a freelancer you have the freedom to work on your own terms. Whether you wish to work out of a coffee shop on a particular day or stay in bed, it’s completely up to you.
3) Flexible schedules
Being a freelancer you should be able to organize your day and make use of those periods of the day when you are more wakeful, energetic and have no interruptions. Clients may expect you to be available during abnormal hours but if you set expectations about when you will and won’t answer email, you can adapt your schedule until it is suitable for you.
4) No office rules
Apart from flexible working hours and no fixed location, freelancing comes with other advantages too. Take dress code for example. Office work requires formal dressing. But as a freelancer, you could be working in anything, pajamas shorts, sweatpants and t-shirt, in other words, whatever you are comfortable in.
But being a freelancer has also its cons. Take a look below:
1) Money issues
When working full time you feel financially safe, because at the end of the week/month you will get paid. This way it is easy for you to make projections and calculate your spending. In freelancing the situation is different. At first you will struggle to find projects and clients. It may take months until you have a first client. And still, after you get a project, you will receive payment only once the project is completed. So you need to make sure you get paid on time for getting your work done.
2) Lack of human interaction
Although the flexibility and freedom are the main reasons pushing people to freelancing, there are also some issues they may not be aware of at first. Loneliness is the major downside of freelancing. As a freelancer you have your freedom and you are your own boss, but you do not have any colleagues to interact with. And if you are someone who enjoys the office coffee and the company of office colleagues, then think twice before jumping to freelancing.