The 2020 global lockdowns introduced some people to remote work and freelancing. Before that, employees did most office jobs with the daily 9 to 5 work schedule. However, freelancing has been around for much longer than that since Upwork’s predecessor, Elance, launched in 1999 and Odesk in 2003. I started freelancing on Odesk in 2006; it feels like only yesterday.
There is an increasing demand for flexible work options as workers prioritize work-life balance, pursue their passions, and establish a diverse client base and project portfolio. The freelancing profession has experienced significant growth due to technological advancements like apps, websites, and better equipment with the emergence of the gig economy.
You may be curious about all the fuss or at the beginning of an exciting journey. This blog post will discuss freelancing and its benefits to see if this aligns with your goals and pursuits this year. I will also discuss the critical freelancer traits needed to maximize each advantage.
What is Freelancing?
Freelancing refers to a work arrangement where individuals, known as independent contractors or freelancers, do client project-basis services rather than formal employment. Freelancers are self-employed individuals who represent themselves and often maintain work records through portfolios or testimonials.
I recommend this post to those interested in learning to embark on a lucrative freelancing career without spending money.
Benefits of Freelancing
Sometime in the past, people considered freelancing as nearly synonymous with unemployment. Society has reworked this misconception with more information widely available, especially with people preferring hybrid and remote work options when applying for jobs.
Freelancing is often considered one of the best side hustles due to several key reasons:
Flexibility
Flexibility is one of the most critical freelancing advantages compared to most traditional jobs. Freelancers can choose working hours, projects, and clients, and this flexibility seamlessly performs around commitments, such as a full-time job, studies, or personal responsibilities. You can also plan a month-long vacation without worrying about company leave requests.
The freelancer’s flexibility entails that you should have excellent time and project management skills to succeed.
Independence
Self-employed freelancers are independent with the power to control professional and personal lives by setting and negotiating project terms. As a freelancer, you can align your skills, projects, and tasks according to your values, career objectives, and goals.
The freelancer’s independence suggests that you need organization and proactivity to excel.
Income Potential
One of the most attractive freelancing benefits comes from the potential to earn more than the regular 9 to 5 jobs. You can hone your specialized skills in a niche industry and charge more over time or handle multiple clients, projects, and accounts to improve your earning potential.
The freelancer’s income potential entails developing a better understanding of financial management and investment practices to optimize your cash flow.
Skill Developments
Primary and Secondary Skills
You will inevitably develop primary and secondary skills if you do freelancing long enough. Primary skills may be directly billed to clients; secondary are those you need to build, grow and expand your freelancing business or career.
Primary skills are industry-specific skills and services provided to companies and clients. Examples of primary skills include:
- Web design and development
- UX/UI development
- Copywriting
- Content writing
- Digital marketing
- Paid media advertising
Secondary skills are by-products of freelancing, which you may need to do to find and retain clients but not necessarily in servicing them. Examples of secondary skills include:
- Project management
- Lead generation
- Client management
- Contract management
- Self-promotional documentation and digital marketing
Hard and Soft Skills
Aside from those, you develop hard and soft skills that make you well-rounded and competent when placed in any team. Hard skills are tangible, job-specific, technical, or specialized knowledge acquired through education or training, such as programming or accounting. On the other hand, soft skills are subjective and transferable interpersonal qualities developed through experience, like stress management, communication, resourcefulness, and adaptability.
Portfolio Building and Marketing
Freelancers need to curate a diverse portfolio, which is tangible proof of skills, experience, and accomplishments. A strong portfolio can attract potential clients and set you apart from freelancers. A portfolio is proof of your knowledge and output, and the more your freelance, the more you develop your portfolio-building prowess.
The freelancer’s skill development potential suggests that you must constantly learn and develop new skills to remain competitive.
Networking
Freelancing provides ample networking opportunities. You can build relationships, expand your professional network, and secure long-term collaborations or referrals when working with various clients. Networking can be instrumental in growing your freelance business and opening doors to new clients or projects.
The freelancer’s networking possibilities entail developing social, emotional, verbal, and written communication skills to succeed.
Personal Growth
Embarking on a freelance journey opens up abundant avenues for advancement, empowering individuals to nurture fundamental attributes like self-control, effective time allocation, and handling multiple tasks. These encounters propel personal growth, augment organizational proficiencies, and imbue a profound self-belief.
Recognizing the obstacles intertwined with the freelance realm is paramount in nurturing a flourishing and enduring professional path. Freelancers should prioritize their physical, emotional, and mental state to secure sustained triumph.
Bottomline
It is essential to address the hurdle of managing irregular income, as freelancers often encounter fluctuations in their earnings. Consistent effort and practical marketing skills are required to secure leads and establish a reliable client base. Balancing work and personal life can be demanding, given the need to juggle multiple projects and meet deadlines. Additionally, freelancers must handle administrative responsibilities like invoicing, contracts, and taxes.
Despite these obstacles, freelancing continues to be an appealing endeavor for many individuals seeking additional income and personal growth. By employing proper planning, organizational strategies, and unwavering perseverance, freelancers can overcome these challenges and embrace the advantages of supplemental earnings, personal development, and the freedom to shape their work lifestyle.
While freelancing presents a fulfilling opportunity for a supplementary income, it is vital to acknowledge the associated obstacles. These include managing irregular earnings, acquiring clients, achieving work-life balance, and attending to administrative duties. Nonetheless, with a thoughtful approach, freelancing offers a remarkable means to augment one’s income, acquire valuable expertise, and enjoy the flexibility to design a personalized work-life blend.
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