The choice to become an entrepreneur and freelancer isn’t only a change in your career, it’s also a major change in your lifestyle. You’ll have more time with family, friends, and pets; you’ll get to work on the projects you want to; you’ll likely be healthier and more active.
I speak from experience: I’ve made this transition from a full-time job to a full-time freelancer and now I’m making another big life transition: from freelancer back to a full-time employee. This is a journey that many software developers will make at some point in their careers.
Let’s explore what it takes for each of us to find our happy place between building something out of nothing and working for someone else.
| Takeaways |
|---|
| Freelancing and entrepreneurship offer unique opportunities and benefits, but it’s essential to assess whether they align with your goals and preferences. |
| Consider your desired level of independence, flexibility, and income potential when deciding between freelancing and entrepreneurship. |
| Both paths require self-motivation, determination, and continuous learning to succeed. |
| Assess the level of risk you’re comfortable with, as entrepreneurship carries more financial risk compared to freelancing. |
| It’s possible to combine elements of freelancing and entrepreneurship, adapting your career path to suit your needs and aspirations. |
Do You Have The Self-Confidence To Deal With All Of These Issues?
You have to be able to deal with all of the issues above. You need self-confidence, knowing your strengths and weaknesses. You need to be able to work with others because you will be surrounded by people who are smarter than you and can help you grow as a business owner or freelancer.
Being an entrepreneur is not for those who cannot learn new things every day; it’s not for those who do not like change or having their routines disrupted; it’s not for those who prefer working alone without any help or support from other people (however, if this is the case then maybe being an entrepreneur isn’t right for you).
The most important thing when starting as an entrepreneur is learning how much help you need from others when running a business whether that’s hiring employees or outsourcing different tasks that would otherwise occupy a lot of time (especially in the early days).
Building a successful freelance career requires strategic planning, effective time management, and continuous self-improvement. Discover 15 Tips to Help Gen Z Achieve Success in the freelance economy and take your freelancing journey to the next level.
Do You Have The Experience Necessary To Be Successful?
You’ve got the skills and knowledge, but do you have the experience?
When it comes to freelance work and entrepreneurship, you can’t just be a great copywriter and expect that to get you far in today’s market. The world doesn’t need another “great” writer it needs someone who knows how to create content for certain industries or types of businesses.
For example, if your client is an insurance company looking for blog posts on car insurance quotes or life insurance policies, then certain things’ll help your writing stand out from other writers who are bidding on the job:
- A solid understanding of how these topics work (i.e., what kinds of questions people ask about them)
- Familiarity with what other websites have published on these topics in the past so that you know what kind of information readers are looking for when they click through links (i.e., what kind of information they’re expecting)
Are You Willing To Invest Your Own Money?
Are you willing to invest your own money?
Entrepreneurship is a journey and every journey has a cost. Most of the time, there’s no way around these costs; if you want to start a business or become an entrepreneur, then be prepared for some spending.
If you are going to engage in entrepreneurship or freelancing, it means that you need to invest some money into it. You may have heard of people who make millions with their businesses but these stories are rare and most likely not realistic for most people who want to start their own business or freelance career.
The truth is that it takes time (and often a lot of money) before one can see any significant profits from their business venture.
Are you interested in becoming an independent consultant and earning a six-figure income? Our comprehensive guide, Your Guide to Earning Six Figures, provides valuable insights and practical advice to help you achieve financial success in the consulting industry.
Are You A Good Negotiator?
If you’re not a confident negotiator, it can be very difficult to stand up for yourself. When negotiating, it’s important to know your worth and be prepared to walk away from any job that doesn’t provide you with what you need to feel comfortable.
If the client isn’t willing to pay your rate or provide the type of work environment that suits you, it’s best not to take on the project at all. The same goes for freelancers: if a client isn’t willing or able to secure payment on time, it’s best not to work with them again until they change their ways.
Many things affect how much money someone makes as an entrepreneur things as their personality traits, knowledge of their industry and competition, market conditions (for example: whether there is high demand), trends (such as technological advances), etc., so knowing these things will help determine whether entrepreneurship is right for someone at a given point in time.
Are You Self-Disciplined Enough To Set Your Schedule, And Stick With It?
One of the most important things to consider before starting a freelance or entrepreneurial career is whether you’re self-disciplined enough to set your schedule and stick with it.
For example, let’s say that you want to start freelancing from home to spend more time with your kids. If this is the case, then aren’t all of those hours at home going to become distractions? And if they do become distractions, what happens when other things come up during those times (like an emergency)? Will you be able to work through them?
The answer is no! You won’t be able to focus on your work until after everyone else has gone to bed at night. Or worse yet: What if something happens while everyone else is awake and interrupting you constantly throughout the day while they are trying desperately not just survive but thrive day after day?
The last thing any entrepreneur wants is constant interruptions from family members who don’t understand how much effort goes into running a business successfully…and why should they–they’re not entrepreneurs!
Do You Want More Flexibility In Your Daily Routine Than A Regular Job Can Allow?
Flexibility is an important factor for many people, especially if you have family or other commitments that require flexibility. While working for someone else, you’re at their mercy when it comes to your schedule. When you work as an independent contractor or entrepreneur, though, you have more control over your daily routine.
You can decide when and where to work from home, from a coffee shop (if that’s your thing), or from a co-working space if you prefer the social aspect of being around other people who share your interests. You could even switch up locations every day!
If you have a passion for renewable energy and a knack for writing, becoming a freelance writer in the renewable energy industry can be a rewarding career choice. Learn how to kick-start your journey with our guide on How to Become a Freelance Writer in the renewable energy sector.
How Is Your Marketing Savvy? Do You Know How To Get Clients?
Marketing is the key to success. If you want to be successful, you need to learn how to market yourself and your business. Marketing is a skill that can be learned and developed over time, but it’s not an overnight process.
Marketing is a process that has to be repeated over and over again. You’ll have to keep reaching out, building relationships and trust with potential clients for them to buy from you consistently, or better yet refer others who also become happy customers!
Marketing is about building brand awareness so people know who you are & what it is that sets you apart from other freelancers or entrepreneurs in your industry/niche market(s).
Can You Work Outside Of An Office Environment, I.E. At Home Or In A Coffee Shop?
You can work from anywhere with a laptop.
You can work from anywhere with a smartphone.
You can work from anywhere with an internet connection, which is available in almost every coffee shop in the United States.
If you want to be able to print out documents or use a scanner, any office supply store will have them for sale at affordable prices (or even rent them).
How Good Are Your Time Management Skills? Can You Plan Your Workload Efficiently And Ahead Of Time?
To be successful in this, you need to have good time management skills. You need to be able to plan your workload efficiently and ahead of time so that there are no surprises. This will help avoid stress, which could result in mistakes, poor quality work, and low productivity. It’s also important for freelancers and entrepreneurs alike who want their businesses to grow big.
So how do we manage our workload? The first step is identifying what needs doing and by when (including any deadlines).
Then we prioritize tasks according to importance (and urgency), assign these across different days or weeks depending on where resources are available at any given time, delegate some tasks if possible (depending on your skills) or outsource them entirely if necessary, remove unnecessary distractions from our lives such as social media notifications while working, etc.,
Monitor progress regularly so if things aren’t going quite right then adjustments can be made before things get out of hand…
There are many other specific techniques related specifically to managing our energy levels throughout the day because energy management is one area where people tend not to pay enough attention; however, this blog post isn’t meant solely to focus on that particular topic alone so let’s move onto another key consideration: stress management!
Would You Delegate Those Things Over Doing Them Yourself?
While you can hire out these tasks and save yourself time, you might also prefer to keep them in-house. If that’s the case, think about whether or not it will be worth it for you. If it is worth it for you, then consider how much time you want to spend on administration and how much work needs to be done by someone else.
As with any task on this list, don’t just delegate without knowing what’s going on! Make sure whoever is taking over your bookkeeping has enough training and experience so that they can do a good job, otherwise, he/she could end up costing your business far more than hiring an accountant would have cost in the first place.
And unless I’m missing something major here (which I might just be), virtual assistants can only help so much when it comes to administrative tasks such as invoicing clients or organizing expenses reports if there are too many of those things coming in at once then they probably won’t have time!
Generation Z brings unique skills and perspectives to the freelance industry, making them an ideal fit for freelance businesses. Explore the 13 Reasons Generation Z Is Perfect for your freelance business and tap into the potential of this talented and entrepreneurial generation.
Are There Particular People In Your Life Who Might Become Disgruntled By Your Choice To Freelance?
If you’re concerned about this, there are a few things you can do to manage it. First, if your family members or coworkers depend on you for support or income, make sure they know what’s going on before you start freelancing or starting a business. Let them know that this is something you want to do and explain why it will be good for everyone involved in the long run.
Then, when things get difficult at home or work because of the change in how much time and focus you have available for those relationships, don’t let it fester! If one of these people starts giving off signs that they’re feeling annoyed by your new lifestyle choices
For example: complaining endlessly about everything instead of focusing on solutions; acting passive-aggressive toward others when they believe no one else can hear them find ways to reassure them that their feelings are valid while also letting them know how important it is for everyone involved (including themselves) that everyone work together through this phase as smoothly as possible.
Can You Survive On An Irregular Income Cycle For Example, By Saving Enough Money To Last Several Months
You must have enough savings to cover expenses for a few months (or even years) if necessary. You can’t afford to lose any work, or your bills won’t get paid.
You need to be able to pay your health insurance premium and deductibles regularly, in case of an emergency. If you don’t have this already as part of another job (and many freelancers don’t), you’ll need to pay for it out-of-pocket on your dime l the right deal comes along!
Most importantly: You will need money saved up so that if something happens like having an emergency surgery you won’t go hungry while recovering from the procedure or waiting weeks before receiving reimbursements from insurance companies who often drag their feet when it comes time to pay out claims (if they pay them at all).
Developing essential freelance skills is crucial for success in the competitive freelancing market. Discover the key skills every freelancer should have in order to thrive in their career with our insightful article on Freelance Skills Every Freelancer Should Have.
Conclusion
Unless you’re a robot (and we don’t care if you are, robots can be readers too!), it’s pretty safe to say that freelancing or entrepreneurship is something you should look into. There are a ton of benefits both tangible and intangible to going at it alone. But the best thing about becoming your boss is this: You get to decide what constitutes success for yourself.
Further Reading
Here are some additional resources for further reading on the topic of freelancing and entrepreneurship:
Entrepreneurship vs. Freelancing: What’s the Difference?: This article explores the distinctions between entrepreneurship and freelancing, highlighting the key differences in terms of mindset, income potential, and business structure.
Freelancer vs. Entrepreneur: Which Is Right for You?: Discover the pros and cons of being a freelancer versus an entrepreneur and gain insights into choosing the right path based on your skills, goals, and aspirations.
Freelancing vs. Entrepreneurship: Which Is Right for You?: This informative article examines the distinctions between freelancing and entrepreneurship, providing a comprehensive analysis to help you determine which path aligns better with your preferences and objectives.
Frequently Asked Questions
What Is Freelancing?
Freelancing is when you work for yourself, instead of an employer. You might be an independent contractor, or you might even start your own business. The key is that when you’re freelancing, you have more control over the kind of work you do and how much work you do. You can also choose who to work with a big plus if you’re looking to get out of a toxic work environment!
What Is Entrepreneurship?
Entrepreneurship involves starting a new business venture or business idea. The term “entrepreneur” comes from the French word “entreprendre,” which means “to undertake.” When you’re an entrepreneur, it’s up to you to take action and make your idea happen and the good news is that there are resources available to help!
Do I Have The Right Personality For This?
Many people think that freelancing or entrepreneurship is just for people who love being in charge. In reality, though, there are many types of personalities that do well in these fields. If you’re organized, patient, and responsible, then you might be able to succeed in either realm.
How Do I Know What To Charge?
If you’re new to freelancing or entrepreneurship, it can be hard to figure out how much money you should ask for your services. The best way to determine what constitutes “good” work is by looking at the market value of similar jobs in your area (if possible).
If you’re a writer who specializes in copywriting for eCommerce sites, look up the average rate for someone with those skillsets and then add 10% on top of that number as your base hourly rate. You’ll want to negotiate with clients over time (and give them
Costantine Edward is a digital marketing expert, freelance writer, and entrepreneur who helps people attain financial freedom. I’ve been working in marketing since I was 18 years old and have managed to build a successful career doing what I love.