Freelancing is a fantastic option if you’ve always dreamed of being your own boss. Many have visions of working whenever, however, and wherever you want. Although there is some flexibility, if you are a freelancer yourself, you know this is not how it works. There are both advantages and disadvantages to working for yourself.
Being your own boss means you create your own schedule. You can work whenever it fits best into your schedule. Appointments during the week? Work on the weekends. Not a morning person? You can stay up late to complete client projects.
Hire & Fire
As an employee, you do not have a choice of who you work with. Working for a demanding boss or rude associate can become your daily routine. As a freelancer, you choose your own clients. If a business relationship does not work out, then you can communicate kindly you are moving on and wish them their best.
This is a huge perk for those of us who run our own business. There is no supervision of employees. No checking on them to ensure they are completing work properly or on time. The only person you are responsible for is YOU.
Because you have no employees, you get to keep all of the profits. The income you earn is 100% yours. Pay for all of your business expenses, invest in your education, and also earn an extremely reasonable living.
As a freelancer, the nature of your work can be unpredictable. It may take a while but eventually, you will build up a solid clientele. This means you will build a referral network for yourself too. As clients no longer need your services you can ask them to refer other business owners who may find your services useful.
No employees mean no support. You are responsible for everything. You wear all the hats - accountant, graphic designer, blogger, and salesperson. If you prefer, you can pass on those tasks that do not play on your strengths to another freelancer.
No Employee Benefits
Working for yourself is great, but this means you are responsible for all of those employee benefits you would typically receive as an employee. This includes health insurance, social security taxes, retirement benefits, and other employee perks, such as paid business expenses.
With no particular workday structure, it can be difficult to stick to work hours. There is no boss or supervisor to help you stay accountable to your responsibilities. For those who are great at time management, this is not a concern. If this is something you struggle with, you will need to work extra hard at setting and sticking to your work schedule.
Do you enjoy being your own boss? If you could hand off any tasks to a freelancer, what would you like to take off your plate? Schedule a consultation with me if you're ready to take something off your plate!