Pros And Cons Of Starting A Freelancing Business

Opening your freelance business has increasingly become a lucrative entrepreneurial option in the recent past. However before you start your own freelance business, it’s important to consider or weigh the pros and cons of starting a business. Since this type of decision has the potential to change your life in a positive or negative way, here is a highlight of the top three pros and cons of starting a business.

Pros

Flexible Hours

The first thing you are going to enjoy as a freelancer is flexible hours. This means that you get to work whenever you want and wherever you feel is more comfortable or convenient for you. You can choose your own working hours and also choose when to take a break.

Control Over Work and Clients

When you are working for someone else, you don’t have the freedom to choose who you get to work with. You can find yourself dealing with rude, stubborn or unprofessional clients. But when you have a freelance business, you can enjoy the freedom of choosing who you want to work with. Better still, you get to choose the kind of jobs you want to work on.

You are the Boss

The other great advantage of starting a freelance business is that you don’t have to answer to anyone apart from your clients and yourself. Besides not having someone breathing down your neck and micromanaging you, you also get to keep all the profits.

Cons

Lack of a Steady or Reliable Stream of Jobs

The unfortunate thing about starting a business is that you have to contend with an unstable or inconsistent workload and income, especially when you are just starting out. When you are just starting out, you won’t have a steady flow of projects, whereas if you had a regular or traditional job you know the exact pay you will receive.

Differentiating Between Personal and Work Time

Being your own boss can be somewhat tricky especially if you are working from home because it can be difficult to differentiate between your work time and your personal time. It also means that you can work for extremely long hours and never find time for your personal interests.

Lots of Legwork

As a freelancer, you will be in charge of chasing clients in order to get jobs or projects. This is different from a regular job where projects are mostly handed over to you. As a freelancer it will be your sole responsibility to do the legwork and this means wearing many hats. You will have to be the marketer, advertiser, financial manager, and project manager.

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