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The Pros and Cons of Freelancing or Independent Working

Tuesday, November 9, 2021
Author: Business Consultants, Inc.

The Pros and Cons of Freelancing or Independent Working

Sharon was blankly staring into nowhere as her mind wandered and contemplated the idea of resigning. She thought about Kylie, her best friend who did not have a full-time job for the past five years. Kylie seemed to be doing fine. "Why doesn’t she follow suit?"

Her eyes suddenly hit Veronica. “Since when have you been sitting there?!” Sharon asked with a shocked look on her face. Veronica giggled. “Since you’ve been drawing all those circles on the paper.” Sharon looked down to find her blank piece of paper covered in all-sized circles. Sharon confided to Veronica all the thoughts that had been going on in her mind.

Cons of Freelancing or Independent Working

Veronica leaned back in her seat, took a deep breath as she squinted her eyes and looked right into Sharon’s eyes, and whispered, “are you out of your mind?.” Sharon listened eagerly as Veronica listed all the cons of going into the gig economy and having an independent job.

1. Inconsistency in the amount of business
During some months, you might experience a load of business and lots of projects, while during others, you might be striving to get at least one project. The workload is inconsistent and depends highly on market demand regarding the service you’re providing. For example, photographers might experience a business surplus during summer, as many prefer summer weddings to winter ones.

2. Difficulty finding business
It would help if you were outgoing with some good networking skills to have the capacity to put yourself out there, search and ask for business. When you freelance, you are your marketeer and salesperson. You need to dedicate time to that and learn the skills of doing so.

3. Ensure Clients are Reputable
Since you are on your own, you don’t want to make an effort only to be rewarded with a scam. Therefore, part of your job is to make sure your client is reliable and pay you back for your efforts. The gig economy is full of stories about individuals you put in lots of work only to find out they have been conned. Hence, your job is not only about finding business. It’s also about finding a reputable and reliable company to work with.

4. Benefit less Life!
As a freelancer, you need to take care of yourself. You’ll have to pay for your insurance and plan for your retirement on your own. There is also no paid vacation or sick time. Even though you have complete control over your schedule, you may need to work on your vacation or when you are ill.

Sharon lowered her gaze to the floor. She was lost. Her mind recalled what Kylie told her earlier. She remembers how enthusiastic and passionate Kylie talked about being independent. What Kylie said to her that night was almost the complete opposite. “it’s really astonishing how people’s views could be the complete opposite,” Sharon told herself. Once finished, Veronica asked her about her say on what she just said. “I’m perplexed,” Sharon replied. She explained to Veronica that she understood her view.

"However, there’s another side of the coin."

Pros of Freelancing or Independent Working

1. A Flexible Lifestyle
The beauty of accepting projects and tasks that are suitable for you. Unlike full-time jobs, where you have to take what your boss assigns to you. In a gig economy, you are your own boss. Moreover, you work according to your schedule. You can deal with whatever comes up during the day and then get back to work. Maintaining a decent work-life balance may be easier with this flexibility.

2. The World is Your Office
You can work from anywhere. Are you tired of working from home? Then you can grab your laptop and head wherever you want, be it a coffee shop, a park, or anywhere. You not only save time and money commuting, but you also get to enjoy working at your comfort.

3. A Higher Pay Rate
Freelance compensation is frequently better than permanent employment, and your earnings depend on how much work you choose to take on. While there may be some hidden costs, such as travel expenditures, marketing, and off-the-clock preparations, you may be able to account for these costs by setting your pay rates.

4. Broader Exposure
When you work as a full-time employee, you are entitled to exposure to the specific clients of that particular organization in its particular industry. However, as a freelancer, you get much broader exposure. You get to know and work with clients from various sectors and profiles, leading to an in-depth experience that encompasses a wide range of clients.

5. A Cut Back on the Office Politics
A freelancer’s life is a hectic one. However, the pain does not come from the office! As a freelancer, you have your pains and gains, but consuming your energy trying to protect your position or getting drained as you escape the latest rumors and gossip is not one of them. You get to use your energy where it’s needed the most: Work.


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E-Book: Gig Economy: The New Trend That Will Take the World

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