Freelancing and its Pros and Cons

 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.