Exploring the Benefits and Pitfalls of Freelancing
In the traditional workforce, it’s common to be tied down to a single job for a very, very long time.
With job redundancies and zero hours contracts becoming a prevalent part of today’s workplace, it’s not always safe to assume that you’ll have your current job for life.
This is why many people are choosing to transition to being their own boss and ultimately achieving an unparalleled level of freedom and financial security.
One of the most popular self-employed options is freelancing.
Freelancing is doing work for people (your clients) on per project basis without committing to full-time employment.
Unlimited Income Potential
Freelancers therefore take on multiple projects from different clients simultaneously to achieve their desire income goal. Your income potential is therefore unlimited as it is determined by what you charge and how much work you do....not by your boss.
Vacation Freedom
Freelance work gives you full freedom to control your own time because of the flexibility to move between client projects and daily leisure at your will.
You can essentially take vacation whenever you wish.
This can help you reshape your career and build a new financial foundation that is more in line with your desired lifestyle and core values.
In fact, more and more people are moving to the freelance lifestyle with 1 in every 3 people now freelancing on a part-time basis.
But freelancing is not for everyone.
This career path comes with its pitfalls and taking the time understand these pitfalls is vital if you expect to support yourself and your family financially this way.
Work-Life Balance
It’s very important to determine if you will be able to manage a healthy work-life balance freelancing outside of the traditional 9-5 office environment.
What defines work-life balance for any individual is as unique as they are.
You might be a work-life segmenter who can easily separate the two and believes that the two should never interfere with each other.
Or, you might be a work-life embracer who works hard all day, every day for a year before going on a long relaxing break.
The key is to find a way to make both of these sides of who you are shine...the professional you and the personal you.....and not to let either of them get out of control.
A more aspirational alternative to the term work-life balance is work-life harmony.
This encompasses the concept of work-life balance while evoking a more holistic and positive approach to the entire experience.
You allow all of the different aspects of your work and personal life to come together to create something much richer and more textured than any of them could have been on their own.
So while this balancing act may feel like an impossible feat when first starting out, the truth is that it does not have to be.
Mental and Physical Health
Working from home might be an enticing prospect but days, weeks or even months of major solitude, outside of a social office environment, can have great negative effects on your mental and physical health.
Staying connected to a community of freelancers or entrepreneurs and incorporating fun activities into your remote work routine can combat the chances of the negative mental impact of freelancing.
So freelancing is a very attractive option for anyone looking to enhance their quality of life. The flexibility of a freelance career can help to reduce your chances of career dissatisfaction while allowing you to spend more time doing what you love.
With the right planning and careful preparation, it’s possible for freelancing to become a career in which you can be your own boss and the happiest version of you.
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