5 risks of freelancing
• Freelancing means professional freedom – you
can choose with whom you want to work, when
you want to start your work day, and many other
work related items. But to get opportunity of
choosing, you must build your name and
reputation. The way to become well-paid
freelancer, who has time for family and free time
activities, isn’t short and easy. Freelancing also
means instability and a risk of failure in the
beginning of your career. But if you work hard
and know about freelancing disadvantages in
advance, you can easily manage all risks.
1. Unstable Income
• The income isn’t fixed, and it is difficult to make a plan
for your future. Depending on what orders are
available, your income can increase or decrease two or
more times in a week. One week, there may be 10
orders with a good income, the next week you can get
only one little order. If you want to feel financially
secure, you need to learn to manage your money.
When you always spend all money as quickly as you
get it, freelancer lifestyle isn’t for you.
2. Work-Life Balance
• Being a freelancer also means that your workload is
unstable and inconsistent. When you are your own
boss, it is difficult to separate your work time and
personal life. It is natural that when you have many
orders, you need to work long hours. Time tracking
can help boosting your productivity by showing
where your time was spent, and identify where you
can save your work time, so you get more time for
3. Social Contacts
• Freelancers usually work at home or rent an office, but
you will often be alone, you won’t have colleagues. You
will have less contact with people, your smartphone
and laptop might become your best friends.
Freelancers can spend a week without ever seeing
another human, and having a face-to-face
conversation. You need to find social activities, where
you could find new contacts because networking helps
to do business a lot.
4. No Permanent Employee Benefits.
• You need to care about health insurance.
Freelancing means that you don’t get paid sick
days, or vacation time. But if you manage your
income responsibly, this won’t be a problem.
To do that, you need to work extra time to feel
secure in such situations. Thus, even if you
had 10 great orders, continue to work in the
same pattern to earn and save for the down
5. Responsibility for Everything
• Marketing, accounting, client development,
sales – in all areas you must have some
knowledge. When you have a traditional job,
you usually get tasks, and work. When you
work as a freelancer, you need to find tasks
and projects yourself. Also, you need to care
about your work equipment.
5 risks of freelancing
• As you can see, freelancing is by far not a dream
job for everyone. It involves plenty of ambiguity
and uncertainty, self-discipline, and time
management. In order to enjoy the full benefits
of freelancing, be aware of the dangers that await
in your career path, and prepare yourself to deal
with them. However, if you get it right, the
opportunities that freelancing and a freelancer
lifestyle offer, are endless, and worth considering
for every professional.