Freelancing is a growing domain, with around 64 million people engaging in this kind of work in 2023. This job brings plenty of advantages, and most workers appreciate the fact that they can work from wherever they want, whenever they want.
If you are interested in a freelancing career, this article can help you make the switch from your 9-5 job.
Benefits of a Freelance Career
Being a freelancer comes with various advantages that can be extremely alluring for those having classic jobs. These are:
Flexibility and Autonomy
With a regular job, you’ll be on a fixed schedule, going from 9 AM to 5 PM. This can complicate things when you have errands. A freelance career can offer flexibility and autonomy, allowing you to pick your own hours.
Opportunity for Growth
As a freelancer, you have plenty of development opportunities. Unlike a 9-5 job where you need to do what your boss tells you to, a freelancing career allows you to choose how you want to challenge yourself.
Job Security
One great part about working as a freelancer is that you’ll be your own boss. No one can fire you if things go wrong and, if a client has complaints, there’ll always be other ones. The freelancing market is also growing, which means you won’t be running out of clients anytime soon.
Global Exposure
At a regular 9-5 job, you likely receive limited exposure to customers in your area. When it comes to freelancing, the sky's the limit – or in this case, the web. There will be no geographic limitation, as this career allows you to obtain projects from all over the world.
Challenges You May Come Across
Sure, all these benefits sound good, but there are also certain disadvantages that you should consider, including:
Irregular Income
The money you make depends on the number of projects you take on. Some months may bring more profit than others, which is why you’ll have to budget accordingly.
Finding Clients
Getting customers may be a challenge, especially if you are a beginner freelancer. You may need to spend some time marketing yourself and networking to attract buying clients.
Time Management
Your schedule is managed by your boss during a 9-to-5 job, which makes it easy to keep to your deadlines. However, as a freelancer, you’ll have to manage your own time, which may be overwhelming and lead to an imbalance in your work-family life.
How to Create a Successful Career in Freelancing
In order to become a freelancer, you must figure out what you want to do and how you want to do it. Here are a couple of steps to keep in mind:
Identify Your Niche
This is one of the most important parts of being a freelancer, as it reflects who you are. You may feel tempted to tackle it all, but narrowing it down may bring you extra chances of success. Plus, the more focus you have, the easier it should be for you to brush up on your experience.
To identify your niche, you must reflect on your skills and see what your passions are. Browsing through the freelancing market is also recommended, as it can tell you what is trending. A good idea would be to find a niche that has enough demand but is not overly saturated.
Market Yourself
As a freelancing professional, you will require a steady flow of clients coming your way. For that to happen, you need to market yourself so that potential customers may see you. Start by creating a social media presence and work on improving your brand. Developing and diversifying your portfolio can also increase your chances of getting clients.
Word-of-mouth plays a very important part in marketing. So, make sure to ask for reviews and referrals from previous collaborators, as this creates new leads. Moreover, having a blog and regularly posting on it can help familiarize customers with your work, but you should also use a trustworthy platform for that. This is especially important for those looking for ways to monetize content. The more projects you succeed in, the more reliable you will seem.
Set Your Rates
Setting the prices is a crucial step in switching to a freelancing job. Research common freelance rates for your niche and consider your expenses. Remember that you need to pay taxes as a freelancer, so ensure there is a profit margin.
Don’t go for very high rates from the beginning, as you are not as quoted yet compared to your competition. Consider your value and experience before you set a price. A good idea would be to set low rates in the beginning, and then increase them as you gain more experience. In the meantime, you should pick up investing opportunities or side gigs for extra income.
Manage Your Clients
One thing that you need to know about freelancing is that client management is a very important skill to nurture. At your 9-to-5 job, your tasks are managed for you by someone else. When the clock turns 5, you know your job is done, and you are free to go. This is slightly different when you are a freelancer, as you will be the one managing your time.
It may be tempting to take as many projects as possible to boost your income, but never take more than you can handle. Consider the customers’ requirements for the tasks and how long it will take to complete them. A potentially missed client is usually much better than a bad review because you went past the deadline.
Create a Knowledge Base for Yourself
Being a freelancer is a continuously growing career, which is why improving your skills is a very important step. Nowadays, most freelancers are interested in taking specialized courses to improve their knowledge base. That is, especially as the numbers are expected to grow.
There are plenty of courses you can take, depending on your niche and experience levels. For instance, if you have never engaged in this kind of work, you could take an introductory course for the trade, a digital marketing course, a data science course, or one on how to be a social media manager. The options are endless, and the more you learn, the easier it will be for you to make the switch.
The Bottom Line
Freelancing can be a very rewarding career, just as long as you do it right. Remember that thorough planning is necessary for you to succeed. It may start slow, but if you are determined and consistent, it can be more rewarding than your 9-5.
