Now, more than any year before, freelancing is a viable form of work, and it’s a growing topic in workforce related news. The so-called “gig economy” is bigger than ever, and many workers are leaving the traditional workforce to try their hand at running their own business. There are many benefits, like not having a boss, not needing to commute, and being able to control your own schedule. However, there are also some drawbacks, like not having guaranteed income or having benefits that you’d traditionally find with an employer. Is freelancing right for you? Here are a few items to keep in mind as you make your decision.
In order to be a successful freelancer, you need to have a marketable skill. For some, this is a computer-based skill, like coding or graphic design; for others, it is a physical trade, like plumbing or electrical work. Freelance businesses are often based off of niche skills; this allows you to be marketable without the support of a large business behind you. Find your skill and hone it before jumping out of the workforce to go at it alone.
With freelance work comes the lack of guaranteed income. As a freelancer, you won’t get a salaried paycheck, which means you’re also responsible for taking out your own taxes. Keeping a meticulous tab on your finances is important to make sure you’re fulfilling your tax obligations and making the most of your efforts. It’s advisable to build up your savings account before starting.
Additionally, you need excellent time management skills and discipline to succeed as a freelancer. Without a boss or someone setting your schedule, you’re responsible for organizing and making the most of your time. Without strong time management skills, it’s very difficult to set up a system that allows you to get all of your work done in a timely manner. Good time management skills are essential to freelancing.
If you’ve been thinking of starting a freelance business, good for you! Freelancing is a big step towards a greater personal freedom. But making sure you’re set up to succeed is essential before taking the leap. With these tips, you can be sure that you’re putting your best foot forward in working towards your new career!