Have you ever thought about being your own boss? Breaking out of your usual nine-to-five cycle and working for yourself, setting your own hours and choosing the projects you actually want to work on?
Well, if the answer is yes, you’re not alone. In fact, freelancing is increasingly becoming the career path of choice for people all over the world, and it’s not limited to the millennial workforce either. After decades in traditional professional environments, veterans of industries such as journalism and advertising are utilising their extensive networks to become active participants in the gig economy.
While there are plenty of good reasons to go out on your own, there are some aspects worth taking into consideration before you quit your day job and run head-first into self-employment. Here are three positives and three negatives of being a freelancer.
Pros of being a freelancer
Flexibility and freedom
You will still be working hard but the freedom of not being chained to a desk is invigorating. If you enjoy sleeping in but can belt out quality work in the dead of night, so be it. That is your choice, and no one can tell you otherwise.
Cut the commute
Not only are you free to pick and choose how you work, you can also decide to set up wherever you want, be it in a coworking space, the local café or even your own bed. Best of all, peak hour traffic is no longer a concern.
Chase your passion
For those wanted to express themselves through their work, this is one of the major upsides of freelancing. Generally being passionate about something leads to a higher quality finished product than if you were disengaged, so take full advantage.
Cons of being a freelancer
It can be tough to get into the saturated freelance market, which can be very competitive when starting out. You might have to build up your portfolio with some pro-bono work before you start raking it in.
You can’t control the market
There’s no way of knowing if you’ll have enough clients at any given time. It’s likely there will be slow periods throughout the journey, for a range of reasons, so it’s important to stay positive if opportunities are thin.
When we say benefits, we mean everyone that comes with a traditional full-time employment contract. You know, superannuation, annual leave, paid sick days. As a freelancer, these are your own responsibility.