Freelancing has a lot of perks, the biggest one being that you are mainly your own boss. What could be better than that? But obviously, freelancing isn’t for everyone. Even those that possess the skill sets that would be perfect for freelancing, shouldn’t just rush in and here are few reasons why.
It takes more than just a desire to want to be self-employed to truly succeed at freelancing. There’s a lot of competition, you must maintain a tight ship and thrive on being an introvert. Health insurance and needing a consistent paycheck are other things to consider. Read on to decide which option is right for you.
Considering Freelancing? See If It Matches up to Your Idealization Before Quitting Your Day Job.
Lots of Competition
Freelancing covers a broad base of jobs and tasks that require a spectrum of skills. With everything from writing to graphic design to financial consulting, there are literally hundreds of options for talented individuals.
But it seems like, these days, every area is crowded with talent. The thing with freelancing is you have to work that much harder to meet the client’s needs because you’re competing against several other experts in your field and you can bet that if you don’t get it right, you’re replaceable. If you don’t feel confident in constantly having to hustle, you might want to think harder about a freelance career.
A Scheduled Work Regimen
You’ve scoured the net freelance jobs and you’re ready to apply to some. Most are short-term smaller gigs. This means there may be a few days where there is no work or you may have to spend your Saturday night trying to meet a tight deadline. If you enjoy clocking out at 5 PM every day and going home and turning off your work mode button — better stick to a brick and mortar job.
Needing to Be Around People
Love the camaraderie around the workplace water cooler? Does the Jimmy John’s catering during weekly staff meetings bring you immense happiness? If so, remember this isn’t how it is when you’re a freelancer. You’ll need to grab your tuna sandwich from the fridge and sit alone in front of the computer to finish your assignment. On the other side, if people aren’t your jam, you can spend lunch with your furry co-workers when working from home.
Must Have a Consistent Paycheck
A big downside to freelancing is getting paid on a schedule. It isn’t always consistent, especially when working for multiple clients. One week you may get paid less than minimum wage, and the next you may get an entire month’s pay. If you prefer to know your exact salary every week and need that to pay bills, maybe reconsider being your own boss.
Affordable Health Insurance
One of the biggest topics in the U.S. at the moment is affordable health insurance. Everyone will need it at one point or another. Whether you or a family member live with an underlying health condition or not, good, affordable coverage is a must-have. With freelancing, you will have to buy your own insurance policy, which can be costly. If you find an employer that offers it and you don’t have it through a spouse’s employment, you may wish to hang on to your day job.
Freelancing is a great career path if you can work past some of these pitfalls. And certainly, there are those who are successful. So take a close look at the pros and cons to help you make the right job choice.