One of the best things about the internet, as we know it today, is its ability to bridge million-mile gaps in mere minutes. The benefits of the ease of communication that comes with the internet are numerous. However, one of the most notable is freelancing

Today, we’ll be exploring freelancing and giving useful details about what it is alongside the pros and cons of going into it. Without further ado, let’s get to class folks!

What is Freelancing?

Freelancing is a word used to refer to the act or process of offering professional services to multiple clients/businesses at a time.

As opposed to being employed at one firm and working 9-5, a freelancer is often regarded as self-employed. S/he works remotely more often than not and can market their skills to whoever needs it. 

Today, tons of skills can be freelanced. Among others, you can freelance writing (all forms of it), front and backend web development, Search Engine Optimization, graphics design, legal consultancy, brand identity creation and development, public relations, etc. 

Advantages of Freelancing

The things you stand to gain if you choose to become a freelancer are numerous. A few of them are:

  1. No boss

If having a bad boss is something you’ve always dreaded, as a freelancer, you wouldn’t have to worry about it. As long as it fits into your schedule, you can wake up whenever you want. In addition, you can wear whatever you want. If you have any freelancer friends, I can bet that they’ve worked in their pyjamas more times than they’re willing to count. As a freelancer, this freedom is not a special team-building effort at work. It’s a regular Monday for you.

  1. Potentially Higher Pay

By working for multiple people, you’ll be able to get money from different sources. Combined with the freedom of setting your own rates as well as the option to walk away from unfavourable payments, your earning potential is quite high. 

  1. Fewer Taxes

Unless you’re running a huge freelance agency with branches across the world and huge skyscrapers, you don’t have to worry too much about taxes. While your corporate buddies are answering to FIRS for their huge workforces and large constructions, you can keep your money in the bank while clicking away at your laptop to make some more. 

  1. Freedom to live

Far too often, people get so committed to their jobs that they forget to actually enjoy life. For them, every day is the same. They wake up, bathe, dress up, go out, work for 8-9 hours, come back home, eat, sleep, and repeat. Freelancing takes out much of the pressure of regular employment. It gives you the freedom to live and pursue your passions.

Disadvantages of Freelancing

As great as it is, there are a few things you’ll have to put up with. A few of them are:

  1. Uncertainty

As a freelancer, especially if you’re a beginner, you don’t know when your next paycheck is coming. You constantly have to live with uncertainty, and this is dreadful for some. 

  1. Overbearing responsibilities

As a freelancer, you’ll be in charge of your own bookkeeping, and you’ll organize your accounts. Alongside that, you have to market yourself, rely on yourself to do anything that needs to be done. This new influx of responsibilities can be a deterrent for some.

  1. Imbalance

This is more of an individual problem, but it’s still a real issue. When you have all the freedom to do all you want to do, the chances are that that freedom will be abused. As much as you hate to admit it, you might start to slack off, work less, give excuses, sleep in, etc. All these will affect your earning capacity, and they’re major disadvantages.

In Conclusion

Freelancing is incredibly rewarding. Even beyond the things listed here, there are several things you can gain from the endeavour as an individual. However, you must be careful so that your saviour does not become your tormentor.


ALSO READ  Improving the Financial Health of Your Business