There are many benefits to being a freelancer. Freelancers have more flexibility and freedom than traditional workers, including the ability to set their own hours and choose how they spend their time each day. As an independent contractor, freelancers are in charge of managing themselves, including the risks and rewards associated with their business ventures. There are also several financial advantages that freelancers enjoy as well, from saving on taxes to receiving health insurance benefits from their employers directly. If you’re thinking about becoming a freelancer, or if you already are one, consider these seven advantages of working for yourself.
1) Income
It is true that freelancers don’t make as much money per hour or day as full-time employees do. However, on average, freelancers earn more over their lifetime than those who go for full-time jobs. In fact, people who are self-employed end up making much more than those working in cubicles. According to an Office Team survey, which polled nearly 9,500 workers across industries and company sizes, found that half of all workers who had changed careers within the past year reported earning at least 15% more than they did in their previous job. Additionally, 57% said they were earning at least 20% more.
2) Flexibility
Once you’re working on your own, there are no more obnoxious office dress codes, annoying memos from management or strict deadlines that you must adhere to. You can work whenever you want and on whatever projects interest you most. If you’re trying to maintain a healthy work-life balance and can’t spend late nights in front of your computer screen every weeknight, freelancing is one way to make it happen. And even if you love putting in long hours at your job, working as a freelancer will allow you to take vacations or do other fun things without having to worry about missing deadlines or letting down clients.
3) Vast Network
By becoming a freelancer, you gain access to more clients than you might be able to handle as an employee. It's difficult to take on new projects if your company is overloaded or if it's not in your job description. A freelancer has no such constraints. If you're qualified for it, there's nothing stopping you from taking on another gig outside of your regular work hours. In fact, with freelance jobs available 24/7, even time zones can't stop you from finding extra work (or collaborating with other freelancers). With so many potential opportunities in one place—and no need to negotiate vacation days—freelancing allows workers unprecedented freedom and flexibility.
4) Skill-Growth
Working for yourself allows you to set your own schedule and decide how to use your time. You’re not beholden to others when it comes to finishing projects or getting tasks done—and, as long as you keep up with them, you can accomplish more than if you were part of a larger company. Work from home jobs (from positions like customer support specialists, bookkeepers, graphic designers, and transcriptions) allow freelancers to craft their own schedules around their other commitments. But be careful—if you end up with too many distractions at home, working for yourself can have its drawbacks; self-employed workers have been found in some studies to work longer hours than salaried workers do.
5) Learning Curve
When you start working for yourself, everything is different. Instead of relying on someone else to tell you how to do your job, you're flying by your own rules and making your own decisions. That can be both exciting and terrifying—and it definitely takes some getting used to. You’ll have to learn how to set your own work hours and figure out how much work you can realistically handle at once (while still maintaining sanity). But if that's what motivates you, then enjoy figuring it all out! Each time something feels impossible or overwhelming, celebrate with a small win. For example, if today was all about trying (and failing) not to stress out about tomorrow's workload...celebrate with five minutes outside.
6) Job Satisfaction
For most workers, job satisfaction is directly related to how much personal freedom they have. This is particularly true for freelancers. In their September 2017 report Freelancing in America: 2017, independent data analytics and research firm Edelman Intelligence surveyed more than 1,500 full-time U.S. freelancers about their relationship with work and other lifestyle factors. According to more than 30 years of data from Gallup, individuals who regularly work from home are among the most satisfied with their jobs, and a recent Harvard Business Review analysis found that flexible schedules correlate to higher worker productivity and stronger relationships with co-workers and clients alike. The takeaway?
7) Challenge & Purpose
By choosing to become a freelancer, you can embrace new and exciting opportunities that don’t exist in an office environment. One of them is having more freedom to set your own schedule. As long as you are getting your work done on time, you can establish your own hours and even take vacations when you want. While working from home may seem like it would be distracting, many freelancers find that working from home is actually less stressful than trying to meet all their deadlines in an office full of people. You might even choose to work at multiple locations so you have access to different types of environments, such as both home and an outdoor coffee shop or local library.
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