You may be at that point where you want to quit your full-time job and try your luck at entrepreneurship. This maybe a new area to you completely especially if you are venturing into a freelancing career. This is a life changing decision which may impact you either in a positive or negative way. Let us look at the Pros and Cons of being a freelancer.
Pros
You are the boss
You are not under the management of anyone other than yourself and your clients. You are responsible for all the tough decisions. To say the least, you are in control.
Flexible hours
You can work whenever you want. You get to choose your own hours-the working hours don’t have to be the regular business hours.
You collect and Keep all the cash from various Jobs – You have no restrictions when it comes to collecting the payments whether the projects are big or small. You can allocate or keep all the profits from your large and small projects and clients. This gives you the freedom to decide how to use the money on either improving yourself or expanding the business.
You can work from anywhere
You are no longer stuck in an office or even in your home. You have the freedom to find a place that you can work best from.
Control over Jobs and Clients
Being a freelancer gives you the freedom of choosing who you would like to work with unlike in fixed job, in some cases you will have to work with unprofessional or rude clients.
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Cons
No employee Benefits
Health benefits are expensive. Depending on your current health, switching to a freelance lifestyle might not be in your best interest. Besides, starting your own freelance business means you no longer have paid sick days or vacation time to use. Each day you don’t work is a day you won’t get paid.
No steady or reliable workloads
Freelancing may mean unstable income and workload that is inconsistent. In most cases you won’t be able to depend on any regular project, client or profit whereas in normal full-time job, you are sure of a salary.
A lot of Legwork
You are in charge of finding all your own clients and projects. In a traditional job, you might get projects or clients being handed to you. This means that, you do everything by yourself.
Not Getting paid
Being a freelancer also means that you run the risk of not getting paid or pushing people to pay you. Their maybe ways to protect yourself from non-paying clients, but sometimes you may not realize the risk until it is too late.
You may overwork without realizing
Being a freelancer, gives you the freedom to be your own boss and even work from home, this may make it difficult for you to distinguish between your work time and your personal life.
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Bottom Line
Freelancing means having the freedom to decide which work to do and who to work with but it also means instability. You have to evaluate all these, and decide if it is worth you leaving the traditional 9-5 job.
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