The alarm rings, it’s another workday. The mind is unwilling to get started, the body is sluggish too to wake up.
You are fed up with work maybe as a result of the attitude of your nagging boss, a colleague or most likely the take-home pay isn’t equivalent to the work you put in daily and can’t even foot the bills available.
With the wealth of experience gathered, you imagine putting the effort into your personal business, the end rewards and other benefits that come along with having your own business.
But the big question comes up, are you really ready to commence freelancing?
We will be examining the Pros and Cons associated with becoming a freelancer.
It is meant to enable you to have a balanced view before taking this bold step, enabling a smooth transition into freelancing and reducing the risk of failure.
Pros of Freelancing
Flexible working hours: As a freelancer, when a work is commenced and concluded in a day lies in your hands to decide. This results in greater efficiency in the quality of your work since you are now working not out of a sense of duty, but out of love for what you do.
Job Location is determined by you. Since work could be done right from the comfort zone of your home or any other location convenient with you, it reduces the stress involved in work. So no one to query you for late coming or absence.
An improved pay too could be achieved. While freelancing, you could have clients who require your service and are willing to pay varying amounts for them. When the total sum is accumulated, it can surpass your previous pay when you worked at the office. A lot of freelancers have continuously claimed to earn more than the amount they were paid while they carried out secular work for their employers.
Time too could be created easily for loved ones. You can create more time to be spent with family and friends either for a vacation trip, recreational activity, to fulfill your role as part of the family or any other reason. You will not be bothered about the stress involved in having to meet your boss to request his permission before being absent or think of an excuse to give for it.
Any risk factor that could lead to failure in business can be identified with much ease. Considering that being a freelancer does not involve you running a large organization, most of the activities carried out are either done or monitored by you. So a sudden collapse that leads to closure of business rarely happens without you noticing it right from about the start.
Little start-up capital is required. Since any location could be made use of, you might not necessarily need to rent an office workspace to get started. Making use of the little you have available, with maybe a few necessary new items, you can easily start freelancing.
These few and many other advantages can be thought about in your quest in becoming a freelancer.
Cons of Freelancing
High risk of complacency and loss of motivation. With no one to report to or question you, there is a risk of you thinking you have all the time to do things when you like and at the end of the day, nothing is achieved. A good freelancer disciplines himself and maintains a strict schedule, even depriving himself of some comfort.
A steady flow of income is not guaranteed. This happens when the demand for your service is seasonal. So there could be moments when there is little or no client to provide income.
You will be tasked with sourcing your clientele. As a new freelancer, you have no already existing clients. You will have to create your own space, look for your clients who might already be with dealing with other freelancers. This will require lots of marketing and advertising work have to be done.
You lose the benefits provided by your previous employer. Benefits like his health plan, pension plan, and other arrangements are necessary for the future. He might be more concerned about his present welfare while the years continue to run by.
Are You Prepared To Become A Freelancer?
Although there is no hard and fast rule in becoming successful as a freelancer, a wise saying states that the one who fails to prepare should be prepared to fail.
So taking some measures to get prepared for freelancing before quitting one’s job would be wise especially for those will family and other responsibilities. Here are a few things you can do to get prepared:
Start building your clientele base while on your present job.
As a startup with few clients, you could still carry out your office work while engaging in freelancing.
So when you are sure that the number of your clients are good enough to sustain you in business, you can quit.
While yet working, set aside reserve funds.
These savings are necessary because the first few months of your freelance activities may not yield your desired income output.
So it is the reserved funds that will sustain you within this period especially if you don’t have financial backing from friends, relatives, or others.
Advertisements using various media could be done. In this age where various social media platforms are available, adverts on your services could be placed there incurring little or no cost. Also, tell your clients to spread to others how beneficial your service was to them.
With these few measures taken and any others that you may think of, quitting your job and going freelance won’t come with many troubles that will hit you surprisingly.
Maintain a balanced view of it. Weigh the benefits and the drawbacks associated with it and put into consideration your own unique situation. The final decision lies with you.