A “gig,” aka a one-time, temporary endeavor, used to be something only artists or models could get.
To our surprise, that era has passed long ago. Today, forgoing the restrictions of a full-time job to embrace the freedom, or perhaps greater earnings, freelancers have come a long way.
In fact, an increasing number of individuals prefer working on-demand for enterprises that employ their talents as independent contractors or freelancers rather than laboring for ‘The Man’ confined in a traditional 9-to-5 schedule.
Amidst this, the question is, is it rational to quit day job and enter a freelancing career?
Recessions in the economy might have pushed some people into freelancing, but the perks of freelancing jobs are undeniable. The good part is plenty of individuals are beginning to live the freelance lifestyle.
What is more exciting is this sizable portion of freelancers is defying conventional job trends to start freelancing as independent contractors. In fact, according to research, 86% of people decided to come forth and kick-start a freelancing career on purpose.
That said, you must be wondering what is the propelling factor of this trend. Why would someone prefer freelancing to traditional employment and consider it to be a great career choice?
Let’s take a closer look at what exactly is leveraging the gig economy and what it entails.
4 Reasons To Start Your Freelancing Career Today
Humans require flexibility. Period. Jobs that are 9 to 5 are typically for machines. Nevertheless, people made an effort. Naturally, many failed, had freelance burnout, suffered poor health, underwent strained relationships, and so much more. Yet, with freelancing jobs around the corner, individuals have restored faith in job stability.
Although most of you might question: Is freelancing a good career option, here’s why you should take a shot.
1. Pick Clients You Wish To Serve
One of the top benefits of freelancing is having the freedom to pick clients who value your efforts and time rather than those who constantly fuss around. Your full-time job will expose you to a slew of highly picky clients.
At the end of the day, you are obligated to serve them. Freelancing offers a different situation. You select who you want to work with.
Note: You get a chance to articulate your expectations, unlike a full-time job. This, in turn, will help avoid future conflicts as well.
Freelancing, AKA Dynamism, is the cherry on top. By the time a full-fledged firm considers beginning a venture, an independent contractor may have already begun working on it.
Additionally, freelancers are used to taking hits. Once a contract period is over or a venture fails to succeed, freelancers can attempt something entirely different and novel immediately the next morning.
3. Flexibility of Location
Choosing to freelance gives you the opportunity to work remotely, irrespective of any location.
As soon as you sign the deals, you can establish yourself worldwide. Work wherever you please, and keep moving around frequently or occasionally.
Freelancing allows you to get your hands on multiple jobs with ease. Freelancers can become strong contenders in any industry, provided they keep up their education, network, and contact database solid.
If you have a 9-5 job and are wondering can we do freelancing with a job, well, yes, you can. Freelancing offers that flexibility in time, besides building an additional income stream.
In fact, if you happen to be a student with some great skills to display, you can try freelancing work as a side gig while focusing on your academics.
Not only will you learn something new, but you can also diversify your existing skill set and pick up new skills over the course of time.
Once you have a good bunch of skills and expertise in your industry, you can create a professional freelance portfolio to attract more clients.
Most people opt for freelance due to the following factors:
- Eliminates office politics and distractions: 30%
- Travel exhaustion: 29%
- Time savings: 35%
- Savings on costs: 27%
- Bad Local Employment: 24%
- Fuel costs: 15%
- Disability or illness: 13%
Are looking to start your freelancing career today?
You must checkout our exclusive guide on how to start your freelancing career today!
Full-Time Job Vs. Freelancing: Would You Rather Be A Freelancer or An Employee?
With the pandemic and subsequent economic shutdown slamming nations like a tidal wave, plenty of individuals lost their ostensibly secure employment overnight.
In fact, with the hike in layoffs lately, people are quite devastated. For most, the gig economy could seem like a sensible lifestyle choice, whereas for some, it might not.
So the question is, would you pass on a salaried full-time job altogether over a freelancing career?
1. The Layoff Factor
Freelancing offers a massive number of clientele. Unlike a traditional job, freelancing allows you to be your very own boss and work as a contractor for several businesses. The result, they are incapable of firing you.
Verdict: Freelancing steals the show.
2. Full-Time Advantages
Employer-sponsored benefits are the largest advantages of working full-time.
These are all common benefits of employee positions, whereas independent contractors rely on themselves in every way.
No firm or network will pay you for doing nothing. Hence, no paid leaves.
Verdict: Full-Time takes the toll.
3. Security vs. Flexibility
Certain individuals find the thought of spending hours continuously in front of a desk to be the worst thing on the planet. Others believe securing a full-time job is highly crucial for their financial well-being.
Yet, being your own employer can be quite intriguing. Of course, the only people you are obligated to respond to are your clients.
Verdict: Freelancing offers the ultimate flexibility. The security factor varies from person to person.
The freelance lifestyle may be isolating. You normally don’t have any coworkers to interact with, and there isn’t the same level of social engagement as at a desk job.
On the contrary, if you are more of a recluse, working as a freelancer is an excellent excuse to avoid being compelled to invest hours in meetings with your peers or struggling to find conversation starters while huddling near the coffee maker.
Verdict: Freelancing is a cherry on the cake for antisocial individuals.
Will Freelancing Cost Me My Career Stability?
Here’s a quick questionnaire for you:
Where can you earn the most money?
Where would you save time?
Where would you enjoy Monopoly?
Well, all the above questions point towards one common component: Freelancing.
Speaking of the sustainability, stability, and future of the gig economy, below are some numbers that demonstrate the same.
- Based on a BCG survey, 40% of CEOs globally anticipate hiring independent contractors over the next 3 years.
- Today, 36% of independent contractors work as full-time freelancers.
- Only 46% of Google’s employees are full-time, thereby making the 54% of the workforce independent contractors.
When it comes to career stability, most people might think in favor of a freelancing career over a full-time job.
Although people die to secure a 9-5 at a reputed firm, it is not the same for all. One of the major struggles of 9-5 includes the annual raise.
Additionally, many employees get sick of the constant sensation that they are doing the duties of three individuals single-handedly.
In a nutshell, here’s why offering a freelance service will never cost you your career stability.
100% Job Security!
Have you ever thought under which circumstances you are exempt from any disciplinary action?
Well, it’s when you are the boss!
You determine your boundaries and due dates.
Although working as a freelancer has its share of challenges, you will have complete authority over your professional and financial future in the long haul.
Apparently, working for somebody who might unexpectedly fire you or inform you that the firm you have helped out with no longer needs your assistance is exhausting.
Freelancing is a lot safer than being stuck in a 9-5 while anticipating the upcoming layoff.
Excellent Financial Control
Being able to say that you have complete authority over your salary is the best part of a freelance service.
You can enjoy an additional income stream by increasing your rates or doing extra assignments, unlike an office job where you could not without begging for overtime hours or praying for a miraculous yearly raise.
If you are a beginner freelancer who is struggling to find how to set freelance rates then our comprehensive guide has got you covered.
According to a poll, achieving a better work-life balance is the main reason people choose to freelance.
70% of participants claimed their desire to work independently is motivated by a need for a stronger “rhythm” between their professional and personal objectives.
All in all, freelancing is undoubtedly a stable investment, provided that you invest time and effort in it. This is because you have the ultimate responsibility.
What Do The Freelancing Solopreneurs Have To Say?
Solopreneurs are freelancers and business owners who launch their own companies while working for them.
Below are the interviews of 3 freelancers, Ben Davies (freelance photographer for 2 years ), Charlotte Moore (freelance writer for a year), and Peter Marchetti (freelance graphic designer for 10 years) from various industries and degrees of expertise.
Let’s hear it from them!
Best Part Of The Freelance Journey
Wrapping It Up
In a nutshell, it is evident that highly trained people are becoming more inclined to work independently instead of doing so out of need. Prospects for freelancers are growing along with businesses’ need for flexibility and an increasingly contingent workforce.
If you put in the effort and have the appropriate attitude, you can create an enriching career with freelancing jobs and a fantastic work/life balance.
In fact, to create and promote a highly adaptable, lucrative, and entrepreneurial lifestyle, there is no doubt why high-skilled, white-collar individuals all over the world are entering the gig economy at a rapid clip.
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Frequently Asked Questions
1. What freelance jobs are in demand?
The most demanding freelancing jobs in the market include designing, translator, writing and editing, photography, copywriting, virtual assistant, bookkeeping, programming, and online marketing.
2. Which freelancing job is best for beginners?
For beginners, freelance writing is an excellent choice! It allows you to hone your skills, explore various topics, and build a strong portfolio. Plus, the demand for quality content is always high. So grab your pen (or keyboard) and embark on a wordy adventure!
3. Is freelancing a good career?
Freelancing is alarmingly the most lucrative career option today. This is because it creates room for bigger pay, productivity, flexibility, and a lot more benefits.
4. How much can freelancers make?
Freelancers have the potential to earn a significant income, with the average figure varying depending on several factors like skills, experience, and industry. However, studies suggest that the average freelancer can make around $60,000 to $70,000 per year. So, grab your laptop and start earning on your own terms!