4 Challenges for Full Time Freelancers
Some people might jump at the chance when they hear about working from the comfort of home as a freelancer. Let’s face it: with the continuing instability of the economy, anyone would be convinced to work at home if given the chance to get paid for their skills.
However, choosing to work from home comes with its own set of challenges. Here are a few disadvantages to keep in mind:
1. No Fixed Income
Freelance work is mostly project-based, so your income is not fixed compared to a permanent employee. Working at home doesn’t promise a steady flow of revenue. You may accept a workload based on an employer’s current budget, and when that project finishes, you are back to square one. The best advice is to accept projects when they are plentiful, manage your time to meet deadlines, and save for the "rainy days" when work is limited.
2. No Employee Benefits
Working as a freelancer often means having no traditional benefits. Unlike office-based employees who receive sick leave, annual vacation leave with pay, or health benefits, you are on your own. In the event of an emergency or hospital stay, you must shoulder the expenses yourself unless you have a private medical insurance plan.
3. The Challenge of Working Alone
One of the pitfalls of freelancing is the reality of working in isolation. Without an employer directly supervising your every move or reminding you of tasks, it is easy to become too relaxed. You might find yourself procrastinating or losing track of deadlines. Maintaining discipline and a strong willpower are the two best traits to possess to stay ahead in your career.
4. Additional Skills Required
Since you are running your own business at home, you need skills beyond your primary craft. You must handle your own financial assessments, manage earnings, and file your own taxes. If you are just starting this career, having a basic background in accounting is helpful for balancing your finances.
These disadvantages are based on the actual experiences of many freelancers. It is important to weigh both the positive and negative points to develop better working strategies if you decide to pursue this path.