Is Freelancing Profitable?

Is Freelancing Profitable?

When it comes to jobs, most of us prefer working in the comfort of our homes- without restrictions, without barriers. This is where the idea of freelance work comes into place. Freelancers are simply their own managers and decide when to work or not at their own places of volition. And while you may be pondering on whether to join this field is a process- But first, let’s share information on whether it is worth your time and effort.

Is Freelancing Profitable?

To those who think that freelancing is a non-profitable venture- it is time to reconsider your thoughts.  According to Bryan Collins, Forbes entrepreneur writer successful freelancers must find enough time to work on their projects, find new clients and even market themselves.  The author adds that most media professionals, academics, journalists and business executives seek the services of these freelancers to work on their tasks.

 

Top 5 reasons why freelancing is profitable

1- Dynamism – the claim that freelancing is a venture for those who fail to secure jobs is completely misguiding. What every freelancer enjoys is dynamism- Being able to maneuver easily through the job market. For instance, if a large business is failing in its business sector, it will spend a lot of time and make decisions while looking for an excellent opportunity. A freelancer, on the other hand, is accustomed to such failures and will easily down the tools on this task and move to the next one. This means that if a freelancer can change to another job tomorrow if the current one does not suit him and not next year or after a considerable time like most businesses.  For instance, a freelance dissertation expert could also handle proofreading and transcription jobs.

 

2- Lower costs of operation – The modern freelancer requires only a few tools to run their business. For instance, a freelance writer will only require a computer, internet connection and maybe a pen and book. The freelance writer will not require an outside office but can set up one within his/her residence. This lowers the costs of operation, as they do not have to pay commuting fee and taxes fees.

 

3- Ability to multitask – Most freelancers in the market now are multitaskers who can handle more than one task. As such, when you compare and a business with one activity and a freelancer, who can handle more than six tasks- They are completely different. For starters, if the business activity fails, the business will experience losses; but for the freelancer, if one venture is bringing losses, they can easily switch to the next one.

 

4- Freedom of work – According to the 2018 freelancer industry survey by Upwork, men and women freelancers have different reasons for choosing the contract work. While most women prefer freelancing for the freedom and flexibility it provides while their male counterparts prefer freelancing for pursuing their passions.

Freelancers, unlike most office workers, have their own freedom on the type of jobs to work on. These individuals have no contracts with any companies and they can, therefore, leave if they do not like the job, client or pay. Being free also places these individuals at a better place, as they can easily accept those jobs that match their skills and reject the ones that exploit them. Freelancers can also work from anywhere they are and can work with any client, which improves their chances of getting more work.  Besides, once a freelancer establishes oneself as a professional and quality architect, clients will be streaming for his/her services.

 

5- The flexibility of working hours – As a freelancer, an individual is not limited by time on when to do work. A freelancer can decide to work during the day, night or both. As such, they enjoy unlimited working hours that enable them to be more productive. This works only if a freelancer is hard working enough. The flexibility also allows them to manage their work and prioritize the ones that require more attention and time. However, a freelancer should be diligent and professional enough to balance between commitments and family.

 

Want to join freelancing? You should realize that joining the market could be frustrating for a newbie- But with hard work and dedication, you will soon enjoy the numerous benefits that come with freelance work. With the gig economy rising, you will surely enjoy a profitable career being a freelancer.

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