Freelancing and its Pros and Cons
A freelancer is a
self-employed person. He works with many clients at the same time in a
different marketplace. We called third parties of that marketplace like Fiverr,
freelancer, Upwork, People per hour, etc. However, individuals can provide
their services directly to clients without third party resources, which often
take a portion of the salary.
A freelancer can provide
almost every type of service needed for a business. Some types of freelance
opportunities include:
Accounting/bookkeeping
Technological
marketing
Graphic design
Digital Marketing
Project management
Data entry
Social media manager
SEO/ Technical SEO
Teaching / Tutoring
Virtual Assistant
Web design
Web development
Compose / Edit
The skills offered by
freelance earners depend on your experience and the market you are targeting.
In general, freelancers can earn from 10 to 90 per hour.
Pros and Cons of freelancing
Some Pros freelancing
Earning with Balance
Freelancing can be a
quick and affordable way to start working as your boss. One of the significant
advantages of freelancing is that you can complete your task at home. If you
want an easy and comfortable life, freelancing can be your best choice.
Set your own time
Freelancing is super
flexible. You can often work full-time or part-time on projects of your choice.
You also can set a time that suits you.
Time is money, as the
saying goes. Save your time without traveling and use it to make money.
Work wherever you want
You may want to be
position independent in your career. Freelancing is a great portable option for
those who want to work with freedom. If you enjoy traveling, you can do your
job and travel at the same time.
Become an independent contractor
Although clients can set
specifications for the work, they do. A freelancer is not an employee—an
independent contractor. You can control your job.
Pay what you value
Freelancing lets you
set your prices for your services. Make sure you've charged enough to cover
your overhead and compensate somewhat for the time it takes you to do the job.
It's affordable to start
Freelancing is always
affordable, and you can start it without investing. You need some confidence
and experience to get started. Most of the time, you will provide service to
your clients, so there is no need to invest a massive amount of money.
There is high demand.
The freelance industry is so competitive and there is a lot
of quality, an experienced and reliable freelancer is working worldwide. They
have enough knowledge to impress their clients. Many businesses nowadays do not
have employees and instead on a team of freelancers. They pay higher rates
because they have no pay fees or benefits.
You can choose your Client.
Many clients can give
you a lot of challenging work responsibilities. Or offer to do any work for
less money. Sometimes client history can discourage you from working with them.
Here you have the option not to accept those clients. You can even tell clients
that you don't want to work for them.
You can pay less Tax.
As a freelancer, you
don't have to pay as much Tax as other businessmen. It will give you more
inspiration for freelancing.
Increase work and life balance
You can choose what
and when to do it. As well as you can select too what is paying you and who you
are working with. It will help you to feel more balanced and happy in life.
Disadvantages of freelancing
Freelancing is not
suitable for everyone. Here are a few downsides to working as a freelancer.
Time deadline and clients pressure
Sometimes you may have
to work within a certain period. Or your Client may put too much pressure on
you to get things done quickly. It would help if you were very good at managing
your time. Clint's time zone is another problem.
Work is not always continuous.
It is especially the
case if you provide a single and complete service. Often, the Client will do
only one thing, and then you will have to find a new client again.
You cannot succeed overnight.
Freelancing required
patience. It is through your perseverance, talent, and proper guidelines that
you can achieve success. In affiliate marketing, you need some luck. It would
help if you had a lot of experience for the marketplace job as well. Nothing
happens overnight at freelancing.
Handle many clients and challenging projects
While some people like
to work on different projects simultaneously, others may find it challenging to
meet deadlines. It is massive stress in managing multiple clients. Sometimes
the tasks can be even more challenging.
You have to pay self-employment tax.
If you work for someone
else, your employer pays half of your taxes, such as Medicare and social
security. But when you are a freelancer, you are your employer - which means
you have to pay in full.
Things to pay attention for beginner freelancer
Getting started as a
freelancer can be as simple as going to one of the freelance websites to find
work or networking. There are some things you need to pay attention to start
freelancing.
Decide which services you will offer.
You need to
understand, are you an expert in your area/job? For example, you need several
years of experience on your site before offering any SEO service. It is a
significant part of starting freelancing.
Determine your target market
You need to see if
there is a demand for what you want to do. Then you have to choose your
suitable marketplaces according to your service.
Set your rates
Setting the right rate
balances what your value will be when it becomes attractive to clients. If you
don't charge enough, it may suggest not paying for your work, and you may not
attract clients. If you ask too much, you may not be able to get clients to pay
you.
Create an online portfolio
Create a profile that
promotes what you need to pay for your service. You have to pay to buy some
business tools. Website is one of them. You also can use Linkedin to promote
your service and experiences, and it's free.
Marketing your service
You can be marketing
your service through social media. It is a low cost and attracts clients. Some
of the options include networking on social media, free advice, soliciting
referrals, and email marketing.
Conclusion
Overall, freelancing
is an excellent job for those who need a job sitting at home or need some
freedom in their work. There are some optimistic and malicious sites, but you
will be successful if you work hard in the end.
0 comments