What are the Disadvantages of Freelancing?
You have started reading about how freelancing can help you to work more on your own time in any location you want. The benefits that come along with being a successful freelancer make it seem like a no-brainer. However, you have to consider the disadvantages of freelancing.
Freelancing seems easy when you consider the opportunity to have more flexible hours and work remotely. Not to mention, avoiding the commute. Often people overlook some of the biggest disadvantages that must be considered should they want to take freelancing seriously.
Always Need to Be Generating Leads
One of the biggest problems freelancers face is generating new business and having a consistent flow of customers at any given time of year. Whether you are actively marketing your services effectively is the biggest deciding factor around if your business will succeed or fail within the most sensitive first few years of development.
You will not only be learning how to handle your finances and deliver great service, but you will need to constantly gain new clients by maintaining and growing your brand.
Isolation and Community
One of the important aspects of working in an office space with other like-minded individuals who are striving towards the same goals is the opportunity for great communication.
Whether you just want to take a break from work to have a stimulating conversation or you want to have an important business meeting within the next 30 minutes, working in an office could help increase results and morale.
If you are very social and enjoy collaborating with teams, adjusting to freelancing could be more challenging.
No Employee Benefits
When you work for another company, especially a more established one, getting your benefits taken care of is usually expected. As a freelancer, you will be the only person responsible for covering your employee benefits. Here is a good resource for freelance benefits from our friends at Pogo.
You will also have no sick or vacation days. The sole income of your business depends on how much you decide to work.
Freelancing is not for Everyone
Give these three main points about the disadvantages of freelancing some serious thought. If you are still unsure, consider taking on one or two clients before quitting your full-time job. If you enjoy working for these clients and they are happy with your work, maybe freelancing is for you.
Want to learn more about becoming a successful freelancer? Our course Freelancer Masterclass was designed for freelancers who want to make this their full-time career and would like to be better prepared and set up for success. To learn more about how this course can make a life-changing impact on your career, click here.