What is Freelancing?

Freelancing essentially refers to being self-employed. You offer your skills or expertise directly to clients on a per-project basis. This means a lot of independence – you choose when to work, where from, and how much. The term covers diverse fields; writers, designers (graphic), developers (web), and virtual assistants among others.

Advantages of Freelancing

• Flexibility and Control: Nothing allows for flexibility like freelancing. Personal commitments can be set as a main or worked around by choosing what hours you want to work in. This is considered the best way to achieve work-life balance.

• Variety and Challenge: The number of different projects one can take on while freelancing ensures that each day will be different from the last. This keeps things interesting instead of allowing them to become mundane or stale. It also provides opportunities for growth by forcing you into situations where new skills need honing.

• Income Potential: Though salaries may differ, professional independent contractors can earn considerably more money than their fulltime employed counterparts, especially in the event that they can take many jobs at once.

• Be Your Own Boss: Freelancing promotes a sense of ownership and freedom. You are responsible for your own achievements and have complete liberty to create your brand and realize your vision.

Drawbacks of Freelancing

• Income Inconsistency: There is no such thing as a guaranteed paycheck when working freelance; this means some months might bring more money than others do – if any at all. It’s important not only know how but when and who to sell your services too.

• Self-Discipline is Key: Setting Boundaries and avoiding distractions are just two examples of self-discipline needed when working from home without supervision, so it’s critical for success in freelancing career

• Benefits Burden: Freelancers must secure their own health insurance, retirement plans and other benefits that are typically an employer’s responsibility

• Admin Hassle: With every great job comes some administrative tasks such as bookkeeping which takes time away from being productive

The workplace is experiencing a massive transformation. Gone are the days when people believed that having a job from nine to five is the only way to build a successful career. Freelancing, with its pros and cons, has become one of the most viable options in our society today. However, it can be hard to choose between full-time work and freelancing especially when both are knocking on your door asking for attention.

This comprehensive guide examines the differences between being self-employed or employing someone on a permanent basis; thus providing you with enough facts that will enable you to make a choice based on your goals and lifestyle.