Why Freelancing Is The Key To Stable Earnings In The Long Run
With one massive company layoff after another, it’s no wonder many people feel stressed out when they go to work. Worrying about whether you’ll still have a job at the end of the month is a lot to deal with.
Fortunately, technology has made it much easier to pick up a valuable skill set you can sell to clients!
With a mix of hard work, marketing skills, and good luck, there’s no reason why you can’t build a successful freelance business and become your own boss. Learn more about the perks of freelancing and see if it’s the right path for you.
Can You Actually Make Money Freelancing?
In the not-too-distant past, working for a company was seen as the best way to have a decent salary. But things are changing rapidly, and many freelancers earn more than they did as full-time employees.
Let’s look at Upwork’s latest survey to estimate how much you can make.
Freelancers earn between $25 and $70 per hour on the site, depending on their career and experience. So if you’re working full-time, making an average of $35 per hour, that comes to an average of almost $70,000–much higher than the median wage!
Is Building A Freelancing Career Easy?
There’s a common misconception that freelancing isn’t a “real job,” but that couldn’t be further from the truth.
Becoming a freelancer takes a lot of time and effort at the beginning. You’re also fully in charge of marketing your business, building your network, keeping track of your 1099 forms every tax season, and other tasks on top of your regular projects.
The main difference between being a freelancer versus an employee is that you have a direct relationship with your client, not a boss. But like a traditional job, you’ll still have to consistently deliver high-quality results and ensure the people you work with are satisfied.
3 Reasons Why Freelancing Is Totally Worth The Risks
Freelancing gives you ultimate flexibility in when, where, and how you work despite the extra responsibilities. Here are a few awesome perks you can take advantage of:
1. Design Your Dream Schedule
Sick of that 7 AM alarm waking you up? With a freelancing career, you can choose a schedule that actually works. As long as you show up to client meetings and meet your deadlines, you’re free to do what you want with your time without anyone micromanaging it.
2. Take On A Mix Of Projects
If you like learning new things and staying on the cutting edge of your industry, freelancing is one of the best ways to make that happen!
While some freelancers will work with one or two clients, others will take on multiple projects. By doing so, you can gain skills and build experience to help you grow your career faster.
3. You’ll Diversify Your Income Streams
One of my family members worked in the same shipping company for almost 20 years. He had a decent paycheck and was convinced that this was his last job before retirement.
Fast-forward to the Great Recession in 2009, he was laid off along with tens of thousands of other employees nationwide.
Unless you work in a high-demand industry, many people are only one economic downturn away from losing their job. Several studies also show that losing your job has devastating psychological effects on those who go through it.
You’ll have more control over finances with freelancing, especially with multiple contracts.
If you lose a client, you’ll lose a portion of your income instead of your salary. And as long as you have some excellent references and focus on your marketing, you’ll always have a steady flow of projects coming your way!
The Bottom Line
The days of the 40-year corporate career are slowly becoming a thing of the past. But technology has made being a freelancer simpler than ever.
From low-cost online courses to easy-to-use software, now’s the time to design a more flexible lifestyle and career that can adapt to today’s job market!
Read More: 10 In-Demand Remote Careers For 2023