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The perks and perils of being a freelancer

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The idea of doing freelance has become attractive these days due to its numerous success stories. If you’re thinking of taking the plunge, you should know that it takes a brave person to engage in freelancing. With all the challenges it poses, you won’t have an idea if you’ll be a success or a disappointment.

As far as many triumphant freelance stories are concerned, many home-based workers admit that, though it promises convenience, freelancing is not perfect- it has flaws, too. So, read through this list of perks and perils of being a freelancer to know if it’s for you and to set your expectations right.

Perks/Pros

You are your own boss. Everyone’s dream is to be their own boss. Who does not like the idea of just doing things solely without anyone to dictate or reprimand you? You have the freedom when to do and how to do a certain project. This is the top reason many people consider being a freelancer.

Travel while you work. If you work in an office, you’re under pressure in one physical place. On the other hand, one of the rewards of being a freelancer is that you can do your work wherever you want. You can meet old friends at their house and check the progress of your work; you can drive from one city to another and it will not distract what you’re doing. You’re definitely in control.

Possible higher compensation than traditional jobs. Freelancing allows you to deal directly with clients, which also means that they pay you directly. Being a freelancer allows you to take unlimited jobs and clients as long as you’re able to work on it. More projects mean more money.

Perils/Cons

Unstable work. Sometimes, when it rains, it pours. But there are also days when you have absolutely no project to work on. If you’re unlucky, zero work periods can go on for an unpredictable length of time. Thus, you have to budget everything you earn because being a freelancer doesn’t give you the security of steady work. It is risky and unstable.

Balancing work and play. When you work at your own place, there are times that discipline can get compromised. There’s always that possibility to mix work with play. You can have your friends coming over your place only to realize that instead of leisure, you’re still doing your freelance tasks—or, vice versa. Unlike traditional jobs where you can demarcate between time for work and time for rest. But with freelancing, it can be challenging to balance work and play.

You have to rely on yourself (and nobody but yourself). Being a freelancer means that you have to do multiple tasks at your own: marketing, accounting, talking to clients, managing your time, and the like. You can’t seek help from anyone and if you’re not a person who’s independent with doing his own things, freelancing might be very hard for you.

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