Freelancing – also termed self-employment – is a risky career choice. If done right, the rewards are oh-so satisfying. If handled poorly, it could lead to long-term headaches and regret. That being said, here are three freelancing perks, balanced out with three freelancing pitfalls.
1. Work from anywhere
Whether you're a graphic designer or an internet marketing consultant, working freelance means you can work anytime, anywhere. It can be in the comfort of your bedroom or in a nice, cozy cafe. So long as you have speedy internet, and your laptop or personal computer, your clients won't mind.
Pitfall: Isolation
A fixed workplace with regular co-workers breeds familiarity, and familiarity breeds, contempt? In some cases, yes. But more often than not, a stable paying job is a great way to make new friends in the form of colleagues. Freelancing means limited physical interaction.
2. Pick and choose projects
As a freelancer, you have the option to choose and control your workload. If you have time for multiple projects, you can do so. If you feel like having more free time, you can opt to have one easy project. The choice is completely up to you.
Pitfall: Unpredictable Income
While the above may be true, never forget that your pay will also reflect the projects you take on, and the quality of your services. Clients who hire your for outsourcing purposes, usually demand they have top priority, and while you do have the option to turn them away, bear in mind that it is a huge risk to your reputation and income.
3. Life Fulfillment
A lot of freelancers stick to their life of self-employment because they find it fulfilling and immensely gratifying. They do what they love doing, and they're paid for it. They are their own bosses, and they don't have to deal with the usual office politics and cliques.
Pitfall: You stop, the income stops
Self-employment means that paid leaves are out of the question. If there's no one providing services, there's nothing generating income. You must come up with a back-up plan for when you're sick or you need personal time off.
Lots of conglomerates realize the value in offshoring backroom functions to business process outsourcing companies and freelancers. It's more cost-effective than hiring regular employees for specific services. The best part is that additional expenses like overhead costs and 13th month bonuses are eliminated. So freelancers, never fear; for people with the right skill set, there is no shortage of work.
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