If you are considering giving up paid employment for the life of a freelancer, you should be aware of the signs freelancing is not for you. On the face of it, freelancing sounds like a marvelous deal. You get to be your own boss, set your own hours, and reap all the profits. Certainly many people do make freelancing work for them. But freelancing is certainly not an easy alternative to being a 'wage slave.' Here are the signs freelancing is not for you …
One of the signs freelancing is not for you is that you rely on a steady income and work benefits. When you freelance, you lose paid vacations, sick leave, health benefits, pension contributions and the security of a regular income. You don't know how much money you will have coming in each month. Never start freelancing unless you have enough money saved up to cover your living costs for several months.
Many people dream of being their own boss because they don't like their job. They think that it will mean earning more money and working shorter hours. The reality is that you will be working more hours and earning a lot less. It takes time to build up a client base and a decent income. Freelancing is definitely not an easy alternative.
If you're not assertive, then you will struggle at being a freelancer. Working for yourself requires you to constantly be chasing new sources of income. Any one of your clients could drop you, and if so you will need new ones to replace them. You shouldn't see any client as a dead cert. Plus you will have to chase up clients who fail to pay - sometimes you'll need to be pushy to get your money.
Setting your own hours is an advantage of freelancing - but you will need to get the work done. And with all the distractions of home, and no boss looking over your shoulder, it's easy to find your attention diverted into less important things than work. A freelancer needs to be self-disciplined - if you struggle to get things done, you may not be suited to this kind of life.
However good you think you are, the chances are that clients will not just fall into your lap. You'll need to hunt for them - and keep hunting. If you have no idea where to look for customers, you don't have a business - or an income.
A freelancer needs to have many different skills, and not just in their own field. You need to be an accountant, manager, IT expert, sales rep and much more. If you only know how to deal with your own field, you are going to struggle as a freelancer.
Finally, freelancing can be a very lonely way of working. You may not see anyone other than your partner for days. If you thrive on the buzz and sociability of an office, you're very likely going to hate the isolated life of a freelancer.
Freelancing certainly works for some people. I wouldn't work any other way. But not everyone is suited to this kind of life, so if you're thinking of going it alone you should consider all the drawbacks very carefully. Would you like to be a freelancer?