Thinking of becoming a freelancer? It’s a big step: whether you want to switch from perm employment to freelancing, or you have to make the important choice between starting your career by freelancing or through traditional employment. Choosing to freelance can really open doors to new opportunities, and give benefits that a permanent role cannot - mainly freedom and flexibility, increased financial benefits and skills development.
Here are some of the pros and cons of going at it on your own.
Freedom and Flexibility
The working environment has changed significantly over the last few decades. Today, many employees have a different perception of how the working environment should be structured - they feel the need to be flexible, free and have a better work-life balance. With access to resources online in an instant from anywhere in the world, the chance to work at your preferred time and location is an attractive proposition.
Freelancing offers what these employees seek - a break from the norm of 9-to-5 and from the bonds of being employed to a single business. An opportunity to enjoy autonomy, flexibility and easy accessibility while simultaneously making an income.
As a freelancer, you are not bound to a capped pay but paid for the hours that you actually work. Depending on your individual skills, you can shape your rate, and if lucky, you can handpick the project that rewards the best.
Freelancing can be the starting point to becoming an expert in a field, and with the right experience can gradually allow you to increase the rate that you can demand much faster than perm employment.
As a freelancer, you will likely work in various industries, for different companies, and on multiple projects, learning to adapt to numerous management styles and ways of working. Especially for grads and those at the beginning of their careers, it will allow you to build a range of skills and experiences, while simultaneously growing your network. This growth of skills and experiences can often be a lot quicker than working in one perm role over a continuous period.
All of these positive points make freelancing seem like an attractive lifestyle. However, freelancing also comes with difficulties that can make it feel like a rainy Monday morning.
Finding your next gig
As a freelancer, there is always a certain level of job insecurity as you are responsible for finding your next gig. Especially, as grads and inexperienced freelancers, you can spend a greater portion of your time looking for new opportunities and building a reputable image in the industry. This can be particularly tough if you don’t have the network yet.
Freelancing doesn’t guarantee a steady income, and when it does, it’s rare to meet a freelancer who hasn’t chased payments before. On average, freelance invoices are paid 18.5 days after their payment due date. They regularly have to deal with the lack of payments and even expectations that they should work for free for some periods of time.
Especially because time is money, freelancers shouldn’t be spending valuable time chasing unpaid invoices.
Being a freelancer means that there is quite a lot of administrative tasks and paperwork that you have to complete. The significant amount of time spent on these activities can hinder you from further developing your skillset or adding value to a project.
Nodal is a hassle-free platform that is here to simplify your life as a freelancer and support you at every step of your work.
Never lose valuable time searching endlessly for your next gig. Nodal makes it quick and easy for you to find a project that will match your skills and availability.
Once you secure your next role through the platform, we guarantee payments straight into your bank account, every week. We also address administrative burdens by dynamically filling your timesheets based on the hours you’re expected to work, submitting them for you and streamlining a client’s approval.
Click here to sign up to the Nodal platform and to find out more.