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Freelancing can be a very rewarding career, allowing you to be your own boss and run your own business. However there are certain downsides as well. Let’s explore both the pros and the cons so we can make the best decision about our future careers.
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There's a common misconception that
freelancing is something you
0:00
do if you're in between jobs or can't find
a real job.
0:03
On the contrary, freelancing is a
legitimate career.
0:06
And if you're good at it, you can make
more than a regular nine to five.
0:09
But like every job, there are things that
are wonderful and
0:13
there are other things that aren't so
great.
0:16
Let's start with the [SOUND] pros first.
0:18
You have a lot of [SOUND] freedom in
freelancing.
0:20
You're your own boss and if you don't want
to do something, you don't do it.
0:22
You can pick and choose the work you do.
0:27
Now, you don't have to work on mundane,
0:28
boring projects that a boss may force on
you.
0:31
You can blend your passions and hobbies
into your work.
0:33
With freelancing, you can seek out clients
in industries that excite you or
0:37
take on projects that further your skill
set.
0:41
You can work whenever and wherever you
want.
0:43
You can work ten hours a week or 80 hours
a week.
0:46
It is all up to you.
0:49
As a freelancer, you can also set up
[SOUND] multiple income streams.
0:51
You don't have to restrict yourself to one
paycheck.
0:54
You can get paid from client work or for
0:57
blogging, speaking, or even writing a
book.
0:59
There's plenty of options.
1:02
Freelancing also [SOUND] gives you the
time to develop and enhance your
1:04
knowledge and to make it a priority where
before, you were doing it on the side.
1:08
Freelancing essentially gives you the
freedom to do whatever you want in
1:12
many aspects of your career, but
1:16
before we get too excited, [SOUND] let's
look at the cons as well.
1:18
Now, [SOUND] freelancing is very different
from being an employee.
1:21
The biggest difference, and one that takes
a little bit of getting used to,
1:25
is that you don't have a steady paycheck.
1:28
As an employee, you have a regular wage.
1:30
And even if you do only half as good a job
as you usually do,
1:33
you can count on getting paid.
1:36
When you are a freelancer, however, you
have to make sure you have money coming in
1:38
by consistently producing top notch work,
seeking out clients and
1:42
handling all the admin stuff as well.
1:46
On [SOUND] top of that, there's business
development.
1:49
Business development is hard, and
1:51
as a freelancer, you will have to wear
many hats.
1:53
You're good at web design?
1:56
That's great, but you also have to be good
at networking, bookkeeping, invoicing, and
1:57
client services.
2:02
Expect a good portion of your week to be
devoted to such tasks.
2:03
There are other things that come with
being an employee that you
2:08
will quickly miss.
2:10
You're not [SOUND] going to have basic
benefits like health insurance.
2:11
That will be your responsibility to
account for.
2:14
You also won't have any software or
hardware paid for, and
2:16
you know how expensive it can get.
2:20
You also won't have someone else paying
for you to go to that conference and
2:22
learn all those new things.
2:25
It all falls on you to plan and set aside
resources for these things.
2:27
If you want to freelance,
2:32
you have to be [SOUND] okay with working
on your own as well.
2:33
As a freelancer, you won't have coworkers
to bounce your ideas off of and
2:36
you won't really have anyone to get
feedback from.
2:40
Working in isolation will be a big part of
your life, and
2:43
to some people, that's okay.
2:47
They work best that way.
2:48
Deciding whether you want to freelance
means deciding which of
2:50
those factors are more important to you.
2:53
To lots of people, the desire to be in
charge of their own livelihoods far
2:56
exceeds the stability of their everyday
job.
2:59
If you do decide to freelance, you will
have to be determined and disciplined.
3:02
It's easy to get distracted and not have
people or
3:06
a boss to remind you to do things.
3:09
You will have to force yourself to stick
to deadlines that you set and
3:12
get out of bed to work every day.
3:15
It's hard, but
3:17
sticking to a routine is essential if you
want to succeed on your own.
3:18
Now, I read somewhere that the key to
getting started in freelancing is
3:21
planning, then planning some more, and
then once you're done planning,
3:25
you plan even more.
3:29
Now, I'm sure you get the picture.
3:30
If you're just thinking about freelancing,
take your time and
3:32
seriously go over the points we just
discussed.
3:35
Freelancing sounds great, but it can get
difficult and it's not for everyone.
3:37
Don't just dive into it.
3:42
Let's plan for it.
3:43
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