Guide to Freelance : What is it, and What’s the Benefits?
Nowadays freelance is a common thing. It is trending around young generations. Not to mention a lot of Gen Z prefer to work as freelance rather than work 9-5 job. But what is freelancing? and how should someone consider for doing freelance? What’s the difference between freelance with full-time work? This article will explain all about it including the advantages and disadvantages of freelance.
Definition of Freelance
Substantially, freelance is working under yourself. That means you are not working under company. Freelance also could mean a person who works on a per-job or per-task basis. It is usually for short-term projects as an independent contractor.
Freelances could be hired by any type of companies to execute their tasks, but they are responsible for covering their own taxes, health insurance, pensions, and other personal payments.
How does Freelance work?
Some people can find their clients through personal connection. But for people who still new to beginner, it will be a struggle to start freelancing. The easiest way for beginner is to find clients through online platforms. Online platforms like UpWork, LinkedIn, Craiglist, and Fiverr are popular for finding freelance works.
Benefits of Freelance
1. Flexibility
Not to deny, the main reason people choose to do freelance is their flexibility to work. People are not required to work in certain hours. Their tasks can be done anytime as long as they meet the deadlines.
Another aspect of the flexibility is the place of work. Freelancers are free to choose where to work. They can work from home, cafe or even beach.
2. Own Pay Rate
As a freelance, you may have a control on the earnings or rate that you put for each projects. This means you can set the most potential earnings you can get with the amount of work you do.
3. Exposure to Global
Because not limited on certain areas and you can choose any clients and projects, you have a great opportunity to collaborate with any clients from around the world.
4. Choosing Own Clients
Freelance allows you to choose which projects that match your skills and criteria. It also means you can choose your own clients who fit with your works.
Disadvantages of Freelance
1. Lots of Self-Management
Another risk to work as freelance is it requires a lot of self-management, not only you have to meet the task by deadlines. And by dealing with own clients, that means to control all finance and dealing part by yourself.
2. Unstability
Finding clients and maintaining the same amount of projects to be taken each month will be hard. You may have a ton of work in certain months while having no customers in others. Good financial management and continuous new clients acquisition are necessary for freelance work.
3. Additional Responsibilities
Indirectly a freelancer is a business owner who offers skills, so freelancers need to manage taxes, invoices, payments, your own health insurance, and the acquisition of all necessary software and equipment alone.
Ready to be a Freelancer?
Finding clients will be a struggle in the beginning but if you love to work in flexible, it will benefit you a lot. While many people use freelancing as a side gig, some are able to make it their full-time job. A freelancer must possess the necessary skills, drive, and resilience to deal with unpredictable income streams. It is also important to know best websites for freelance too in accepting freelance projects.
