Freelancing, a term introduced by Sir Walter Scott (1771-1832), is when you work without being committed to an employer. With development of internet and communication technology, there has been a dramatic rise in the number of people going their own way and leaving behind the cubicles. You are reading this book, so you must be contemplating becoming a freelancer, but before you make your move there are a few things to consider.
Not every one can work independently and thrive on their own.You need to have the personality and skills to make it work out.
Ask yourself – is freelancing right for me? Do I have the necessary skills and resources to run my own business?
Here is a checklist to help you decide whether or not you have what it takes to become a freelancer.
If you are lazy, lack creativity, have no self-confidence, and to top it all off you hate to learn new things then maybe you should rethink starting a home business.
If you lie on the following self-evaluation test and say that you are self-confident and communicate when in reality you freeze in the face of clients, you will only hurt yourself, so be honest.
If you say ‘no’ to more than one of these statements, then you might need to reconsider your decision.
- Can you work independently for long hours without supervision?
- Are you good with deadlines and working under stress and limitations?
- Are you a “go getter” who can stand up for the project that you believe in when the rest of the project team is skeptical? Are you able to work on projects alone if necessary?
- How good is you financial knowledge and are your able to keep to a budget? Can you survive financially with less than what you are making now?
- Will you feel lonely and isolated while working long hours alone when there is no one else to talk to?
- Do you have a strong network of friends and contacts?
- Do you find it easy to strike up a conversation with a person you are meeting for the first time?
Here are two more detailed article about assessing your skills before you decide to become self-employed and putting your objectives in check.
If the choice for your freelance career (or small home-based business) is still not clear, take the following steps:
- Look around for services that are right for you. Try looking in the yellow pages.
- Go to the small business aisle in your local bookstore and do some research.
- Examine your hobbies and interests; are any of these good for a home business?
- Subscribe to the following magazine ( ). These magazines have great information for a home business owner, and they have great ideas for new startups.
- Is your current job something that you could do from home?
- Check the business section of your local newspaper for business opportunities
- List of Freelance Home Business Ideas
Pluses and Minuses of Freelancing & Self Employment
Freelancing success almost entirely depends on your effort and resolve, so if you cannot meet deadlines, work hard for long hours alone, or don’t believe 100% in your expertise then this is probably not the right career move for you. This does not mean that you cannot succeed in your field though, however, freelancing just might not be suited for your personality.
It is exciting to be a freelancer. You don’t have a boss pushing you around. There is no boss asking you to do projects that you hate to do. No boss to force you to stray from your creative ideas. However, along with the freedom that freelancing offers, there are some drawbacks.
| Pluses of Freelancing | Minuses of Freelancing |
| Freedom to choose your projects | Uncertainty of work and income |
| You can make decisions without having to wait for approval from your boss. You can take projects into the direction that you want. | You are solely responsible for your own failures. Freelancers also need to work with clients and clients are similar to a boss in that you need to listen to their direction. |
| Flexible schedule and work hours that you can accommodate to your family’s schedule. | Friends and Family often don’t see your freelance business as a ‘real’ job and interrupt you often. |
| Location, Location, Location. | On average, freelancers have to work longer hours and work even on the weekends. |
| Tax breaks and deductions. | Freelancers are more likely to be audited. |
| You can work from your home office. | You need to purchase your own equipment and purchase liability insurance if customers visit your home office. |
| You can set your own pay rate. | A pay check cannot be relied upon. Furthermore, freelancers have to manage their own books, records, taxes, meaning tax payments, annual reporting to IRS and local government. Also, freelancers don’t get the benefits regular employees get such as health insurance, pension plans. |
Don’t let this article dictate how you are going to run your life. If your passion to succeed is strong enough you will learn to compensate for your weaknesses with your strengths. For ex. If you are lazy. overcome your laziness with drive and ambition. If you remember that you can overcome almost any situation with ambition and perseverance you can and will succeed!