In these truly unusual times, the way we live and work is changing virtually every day. Jobs are being lost in their thousands and we’re headed for one of the worst recessions on record – and because of that, professionals are rethinking their career paths. Below, we’ve rounded up some top reasons why you should consider working for yourself and going freelance…
You can earn more
According to one recent study, the majority (60%) of freelancers who quit their traditional employment now earn more working for themselves. Why? You can command a higher fee per hour for your work, and you’ll be more motivated to work harder and secure contracts with clients because you get to keep 100% of the profits. No more slaving away for some lousy minimum wage employer – you’re your own boss and can grow as and how you’d like.
Potential to work less
If you’re earning more working for yourself, that could mean you can work less. That means freelancing is a great option for busy working families, those with other commitments, or for those who simply don’t want to grind through life. If you can find the sweet spot between working ten hours a week and enjoying the rest of your day relaxing, travelling, and being with loved ones, then surely the freelance lifestyle is something worth considering ASAP?
Outsource unwanted tasks
When you work for someone else, your role is clearly defined. When you work for yourself, you can choose what you want to do and what you can outsource to others. For example, if you’re bad with numbers, you could hire an accountant or work with an umbrella contracting company that will employ you on a PAYE basis and hand you a salary post-tax and National Insurance. It’s a simple and surefire way to avoid unnecessary paperwork and headaches.
More job security over paid employment
It’s a myth that freelancing is less secure than a job. Sure, you’re going to find it tough in the early days because you’ve got to convince people to hire you, but once you’ve built a name for yourself and you have clients coming back time and time again, it’s easy. In today’s crisis climate, no job is safe – in fact, you’re probably safer working for yourself than someone else.
Opportunity to grow and hire others
Another benefit to going freelance is that you can eventually scale your business and take on other people – your friends and family, for example. There are immense opportunities for you to take your business in whichever way you want to. Who knows – your freelancing job could lead to you becoming the CEO of a million-dollar company!? Take your time and note you won’t become a millionaire overnight; slow and steady is the key to entrepreneurship.
Easy to find clients and grow a business
Finally, don’t be put off by the fact you have to find your own clients. As long as you work hard and market yourself and your business, you’ll quickly increase brand awareness and win over clients. The more work and effort you put into things, the more you’ll get back in the long-run. Make sure you have a presence on social networking sites like LinkedIn, attend face-to-face networking events and put yourself in front of businesses every day with email pitches, phone calls, and leaflet drops until you start drawing in clients. The first couple will be the toughest – once you’ve got them over the line, you’ll find it much easier to grow!
Still on the fence? What have you got to lose? Start a side hustle and see what happens – once you’ve taken on a few clients, quit the day job and put your full focus into it. We wish you the very best of luck and encourage you to check back soon for more freelancing tips.