Is a Freelancing Career the Best Option For You? Benefits And Downsides

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One of the greatest benefits of the Internet is that it opened a brand new world of job possibilities that don’t require you to be physically tied to an office eight hours per day. There are also thousands of careers in the online market that don’t need anything else but a laptop and a good Wi-Fi connection.

Thanks to the global spread of the World Wide Web and the shifting in generations, the mid-20s to mid-30s generation, also known as the Millennials, have adopted an entirely new culture of work.

According to recent studies, more than 60% of Millennials are no longer looking for financial benefits in a job but also value schedule flexibility, incentives, and a more relaxed atmosphere at work. This is why many youngsters prefer the freedom of being self-employed as opposed to working for a big corporation or, even worse, for the same corporation for decades.

If you decided on a career in freelancing, here are some of the benefits and downsides of it.

Positive aspects

You are your own boss. This means you have complete freedom in choosing the projects you like and coming up with your own deadlines. This type of freedom also comes with financial benefits as you get to pick up as much work as you can. In other words, if you need more money during the holiday season, you will no longer have to ask your boss for extra shifts and wait for his or her approval.

Another positive aspect is that you can work from anywhere in the world. As we previously mentioned, most freelancers only need a computer and an Internet connection to conduct their jobs, and this can be done remotely from any destination you want.

You are also free to make your own schedule, meaning you won’t have to work from Monday to Friday from 9 to 5 if that doesn’t suit you. One day you can be sipping cocktails on a beach and handle calls while others day you can stay in the comfort of your own home, under a blankie, and browse for motorcycle helmets from well-known brands. Or funny videos with animals, whichever suits you better.

Negative aspects

As with any other thing in life, there are also some negative aspects that you need to consider before quitting your current job and picking up freelancing.

First of all, it can get lonely. While you do have a flexible schedule and you are your own boss, you won’t have any coworkers or other people to talk to outside your clients. This means no interactions during coffee breaks or lunch and no Christmas office parties. In the long term, this could affect your sanity as you could get depressed, lonely or sad.

Secondly, you will find it harder to separate your personal life from your work. Staying at home all the time will allow for many distractions so that you will often find yourself spending more time in front of your computer trying to get work done while joggling house chores, family, and friends.

So, unless you set a clear line between your work and your private life, you will end up answering emails way after office closing hours, even during the middle of the night if you deal with international clients.

No work, no pay

Even if you are a renowned professional, working entirely for yourself means you don’t get paid unless you work. This can also translate to the fact that you are not allowed to get sick or may not afford taking holidays right in the middle of a project.

So, at the end of the day, you need to ask yourself this – are you really free and does being a freelancer pay off?

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John is a serial entrepreneur and writer who is passionate about helping small businesses launch and grow. His work has been featured in Huffington Post, Entrepreneur, and Forbes.