What is a freelancer?
A freelancer is a self-employed person who can serve a company without a W-2 employee. Freelancers can work for as many companies as needed. After all, their profession and workload are in their own hands.
Freelancers are technically contractors, not employees, so they have to pay self-employed tax quarterly. Also, unless you are a W-2 employee of another company, you will not be able to receive benefits such as a retirement allowance system and health insurance provided by the company.
Freelancers are most common in the creative industry such as graphic design, copywriting, and photography. However, service-based industries also offer freelancers many opportunities. Consulting, translation, marketing, and social media management are usually outsourced to contractors.
How does freelancing work?
Freelancers typically work on a project-by-project basis. For example, you might run a certain number of projects each month and charge based on the project or the time it takes to complete the project (that is, the hourly or daily cost).
Freelancers set their own time and work before the deadline. For example, you may receive four tasks from a customer at the beginning of the month and the deadlines are spread throughout the month. Freelancers can work anytime, anywhere and can even engage in freelance work to engage in full-time work.
The freelancer process is typical as follows:
- The freelancer will contact the client about possible contract work and vice versa.
- Freelancers work on projects at a fixed price (project by project, hourly, etc.).
- The client pays the freelancer for work (tax is not deducted from salary, freelancer must pay quarterly tax)
- A freelance career allows you to hone your skills with flexibility and the price you set. If a customer refuses to indemnify your value, you can simply decline their offer and then transfer it to another customer.
Should I be a freelancer?
Freelance, like any other life, has its strengths and weaknesses. I think the pros and cons outweigh the pros and cons.
Here are some of my favorite things about becoming a freelancer:
- I always have a job opportunity. Dozens of new job listings are added to the freelancer platform every hour. Of course, not everyone is hired, but there is a lot to do.
- You can control your schedule. You can work when you need it, the way you want it, and everything you want. Don’t have to rest for a few more days. If you are the most focused late at night, you don’t have to wake up in the morning. Freelance allows you to maximize your productivity without being tied to your office at any given time.
- There is a valuable opportunity to gain experience. You can work on various projects and gain experience with various clients, which was not possible in the conventional office environment.
- Choose with whom you will work. If you can’t solve a problem, you can always find another problem. You don’t have to wander in a toxic environment because you’re afraid to resign.
What are the drawbacks of freelancing?
While being a freelancer has many appeals, it also has some drawbacks:
- You need discipline and routine. If you want to be a good freelancer, you have to be voluntary. Your boss doesn’t check what you’re doing. You are the boss You have to be strict with yourself.
- Sometimes it doesn’t work. Sometimes you get more projects than you accept, and sometimes it looks like no one is hiring. To resolve this issue, please establish a stable customer base before resigning.
- Sometimes you will work longer. Maintaining a stable job and income can mean working outside of normal working hours. In fact, you may find that you work longer than your normal full-time work hours.
- It may take some time for the initial performance to be achieved. Don’t be disappointed if you don’t attend a part-time show right away. It usually takes 3 months to 1 year to establish a contact and get a stable customer list. However, at this point, your career as a freelancer begins.