Many people would love to be able to set their own work hours, create their own success and be their own boss.
Going freelance full time can seem like the ideal way to make this dream come true, but the reality is that the lifestyle of a freelancer is not for everyone. Someone who enjoys team work and likes chatting with co-workers in the office will not be suited to the independent life of being a freelancer.
Even if you can imagine yourself as a successful consultant, copywriter or technical expert, going freelance is still a huge leap of faith when you give up a regular salary. There will always be some people who will be less successful working on their own than they are in a steady corporate nine-to-five environment.
You may dream of becoming empowered by going freelance and of being freed from your usual work routine, but you should be aware that working as a freelancer is not always perfect.
You have to be able to hustle and be capable of self motivation, in addition to coping with cash flow problems. A freelancer also has to be able to deal with loneliness, overcome the fear of rejection and communicate effectively with clients.
Before you reach a decision about whether or not you should be going freelance, you should get to know every aspect of what life is really like for a freelancer.
Being your own boss is not a simple thing
A freelancer has to handle all the communication and negotiation with clients who can be much more demanding than the average boss. Clients will require you to have direct communication with you and they will cut the connection between you instantly if they don’t get the courtesy they expect from you.
Without the backup of a manger or any co-workers, there is no-one to offer sympathy over rejections or reassure you over conflicts of opinion.
You also need to be capable of evaluating the quality of your own work. When there is no-one acting as boss, there will be no recognition given to you in appreciation of a job that has been well done and completed on time.
When you are a freelancer, identifying important milestones and celebrating them is something you have to do on your own.
You will work alone (and it will take you some time to adapt)
Being a freelancer can seem like a very lonely occupation if you have been used to the interaction of a busy office environment. Unless you regularly meet with business partners or pitch your services to clients face-to-face, working from home means that you are physically isolated from the rest of society.
You cannot afford to allow the isolation to affect your mood when there are so many days when you are on your own or when you never speak to another person for the entire time that your partner is at work and your kids are at school.
You’ll have days of no activity
It makes no difference what type of work you do as a freelancer, there will be some slow times of the year and weeks when the work dries up. You may begin to panic when this happens and think that you are never going to get any more business.
You will be better prepared for this when you have been freelancing for some time. Then you will have spotted the trends and will be fully aware that there are always going be some quiet times.
You will constantly need to find work
There is plenty of freelance work available, but you will constantly need to find work and you need to have some sort of marketing plan.
You can spend too much of your time on job boards looking for suitable jobs that have been put out by companies, and seeking out clients who rely on freelancers to cover their needs. By creating a portfolio on your own website you will save some time and it will help more clients to find you and approach you with a request for your services.
Will you earn enough for your lifestyle?
Being a freelancer is never going to be a fast road to riches, so you have to work out exactly how many hours you need to put in each week in order to achieve a liveable income. You have to be aware of the amount of money you need to cover all your living costs and any unexpected expenses.
As a beginner, your hourly earning rate will be considerably lower than in it was in your previous job.
Consider that clients won’t pay on time
When you are no longer receiving a regular paycheck, you do have to consider that receiving payments from clients is rather an erratic process. You should realize that you can’t always rely on receiving money from clients when you need it most.
Companies and small businesses are frequently late in making payments, so you may find yourself resubmitting the same invoice for work that you have completed. You might also be forced into making phone calls to remind some of your clients of the need to pay you.
You can never rely on getting repeat business from any client, so you always have to be working for different companies and individual clients. If one of them gets into financial difficulties, you will only survive during a financial lapse or non-payment of your invoice if you have money coming in from other sources.
Discipline is the key
Discipline is definitely a requirement when setting your own hours, because you need to ensure that you will get enough sleep and won’t get up in the morning feeling too tired to work.
When first going freelance, it is a temptation to work late into the night and put in as many hours as possible. It’s not healthy to do this every night, and it will prevent you from working effectively in the mornings.
You need to be available to clients during the working day, so setting regular office hours makes more sense for a freelancer than a late night routine.
On a positive note, it’s highly rewarding
Being a freelancer is hard work and at times it can become very tough, but the benefits of going freelance are what make it worthwhile doing as a full time occupation.
Each day is different and your earning potential is higher than in regular employment. You can choose exactly how and when you want to work. By working on weekends you can have a free day off whenever you want.
Ending thoughts
Going freelance does present a big challenge, and to start with you may soon miss the security and comfort of being in regular employment. There will be difficult days and occasions when you wish that you still had a regular paycheck.
The wealth of benefits you gain by being a freelancer are far greater than anything that can be expected from a regular nine-to-five job. It is far more rewarding to be starting a work day in a warm cosy home office while others are still struggling to commute to work. The hours you work are very flexible, so by going freelance you can plan to start a family or decide how best to fit family life in with your work routine.
Being a freelancer means you have greater earning potential that most people do in regular jobs. By going freelance you are no longer contributing to the coffers of your employer. The harder you work the more money you can make for yourself.
Once you get into the freelancing lifestyle, you are likely to do whatever you can to ensure that you will never have to return to paid employment. If you are the right sort of person to make the switch, then be assured that you are never going to regret going freelance.
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