The Pros of Freelancing

1. You get to be your own boss. This is 100% the case…until you land your first client. Then say a big happy hello to your new boss! Many freelancers do have more control over their work lives than people with day jobs, and this certainly can be a pro to freelancing, but oftentimes this argument is taken a few steps too far. Clients are bosses (regardless of how badly you want to call them “partners”) and they can be as, or more demanding than anyone else.If possible, freelancers will gain the ability to set their own work schedule, determine their workload, and have more control over their careers. So there is a certain element of “being your own boss” that’s attainable through freelancing.
2. The money is better. Many people choose to freelance in order to work less hours, in which case it’s very hard to argue that the money is better. For those that are planning to freelance full-time they’ll often cite this as a significant pro to freelancing.Your hourly rate should be higher as a freelancer. And if you were doing billable work 100% of the time, you should be making more money. But this is where you may run into issues. I always think about cab drivers in this circumstance. Cab drivers (in Montreal) make somewhere around $40-$70/hour based on the rate per minute or kilometer. That’s not too shabby…except for the fact that cab drivers aren’t collecting fares 100% of the time.

   As a freelancer, you can’t possibly bill for 100% of your time. You’ll be doing sales (unless it all comes in as referrals, in which case you still have to do a certain amount of negotiation, pre-project legwork), administrative work, etc. Keep that in mind when you’re thinking about the bags of money you envision hauling to the bank vault.

3. You get to work on a variety of projects. This is very often the case. And for many this is an exciting prospect. Even more exciting is the possibility of choosing what projects you get to work on, as opposed to having a boss handing them to you. Just remember: With variety comes uncertainty. Will the new client be reasonable? Will they pay? Will you be stretching yourself too thin? For some, uncertainty is the spice of life (or at least one of them), but it’s important to realize its potential impact.If you get to the point where you can pick & choose projects, this can be a huge advantage. But it takes time to get there. When first starting out, you may be accepting projects that are less worthwhile, interesting or rewarding (personally and cashflow-wise.)
4. You get to work from anywhere. For many freelancers, the appeal of working from home (or the cafe nearby) is too hard to resist. And I certainly see the appeal. But working from home is not without its challenges. You need a good office setup. You need to minimize distractions. You may get roped into doing chores around the house which you previously escaped from since you weren’t around! And you might become isolated. Oftentimes when people return to the world of day jobs from their freelance careers they point to a need for more camaraderie, and a greater opportunity to work with, and socialize with others.If you are working at a day job and having the freedom to work anywhere (or at least from home) is important to you, I’d suggest you negotiate telecommuting time. More and more employers are amenable to this type of work setup.

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