Job stability is quickly becoming a thing of the past. While previous generations could more readily rely on the availability of long term career prospects upon graduation, that’s becoming more rare in today’s world.
Freelancing is picking up steam as an alternative for individuals with specialized skills, who for any one of the reasons mentioned below are ditching the office job for the chance to take control of their career development. With the rise of several freelance sites effectively connecting employers to individuals looking to sell their services, more people are making the shift.
These are some of the main reasons why.
1. It’s Liberating
Being your own boss is a nice thing. Aside from the immediate perks (make your own dress code?), being able to operate independently puts you in charge of your ultimate success or failure in the role. The luxury of freely prioritizing tasks, and handpicking clients once you develop a steady base of them is a major advantage, especially when the alternative is having your daily operations directed by higher level staff.
2. Potential Reward
Freelancing can be a financially rewarding endeavor. Especially in specialized fields where your clients are bound to pay a higher fee for your services, allowing yourself to work free of any company constraints can lead to a larger paycheck than what might have been the case had you not left the day job.
For some, this is a determining factor. In most cases, freelancers are able to move freely as they please, working from different locations across both their home city, or globally should they choose. The rise of the “urban nomad” has coincided with the prevalence of freelancing among millennials, and it’s no wonder why. The ability to travel while you work is a tempting proposition.
4. Skill Development
Even outside of the main service you offer, working as a freelancer ultimately means running the other sectors of your personal “business”. Whether it be the additional understanding of marketing you attain while promoting your services, to basic accounting when dealing with revenue, being a freelancer means diversifying your own professional skill set.
5. Improved Resume
Instead of limiting themselves to having contributed to a single, or just a few companies, freelancers contribute to targeted projects for a diverse range of employers. This traction across whole industries affords the individual the opportunity to forge valuable collaborations they’ll be able to boast on their CV, serving as a tool for winning more work going forward.
As alluded to in the previous point, working with various individuals and businesses is ideal for developing lasting professional relationships. There’s no better way to pitch yourself for a possible permanent role than actually performing a project for a potential employer. Freelancers can gain an array of contacts which can be of great use down the line.
7. Income Streams
No more having to worry about whether your next paycheck will be your last. Especially for University graduates who might not otherwise have the luxury of holding a steady job, working as a freelancer is ideal for diversifying a revenue stream. Individuals can work simultaneously for various employers, generating profit through multiple outlets.
8. Make Your Own Schedule
When you work is up to you. In most cases, your client will provide you will a general deadline of when they need their project completed by, with some milestones along the way. As opposed to the typical 9 to 5 job, this allows you to make the most of the time you have available, and create a more effective balance between your work and personal life.
9. The Sky Is The Limit
Hierarchy can be nice when you’re on the top of it, and daunting if you’re just getting started. Especially when working at a major corporation, rising to the top can be a long, trying process. As a freelancer, you set your own goals, and avoid internal competition on the rise to the top. Your success is solely in your hands.
10. Tax Benefits
Let’s not forget those write-off’s. From hardware such as laptops and cell phones, to costs such as insurance, in many countries freelancing can prove to be financially beneficial in terms of what you don’t have to give.