So You Think Freelancing Is All Awesome? Here Are 17 Things That Will Make You Go

I can confidently say that I love being a freelancer. But while it gives me the freedom to work on projects that interest me, and allows me to spend my days working from home instead of wearing pants which is a real plus it’s not all awesome.

Freelancing has its share of downsides too, so I’m going to take you through 17 things about freelancing that might make you go

Highs & Lows of Freelancing (an honest update) – YouTube

Takeaways
1. Freelancing has its challenges, despite its allure.
2. Managing clients and expectations is crucial for success.
3. Freelancers must stay disciplined and self-motivated.
4. Building a strong support network can help navigate obstacles.
5. Time management skills are essential for freelancers.
6. Freelancing may lead to fluctuating income, requiring financial planning.
7. Balancing work and personal life is vital for overall well-being.
8. Continuous learning and skill development are valuable in the freelance world.
9. Marketing oneself effectively is key to attracting clients.
10. Contracts and agreements protect freelancers from potential disputes.
11. Reputation and testimonials play a significant role in acquiring new projects.
12. Collaborating and networking with other freelancers can lead to opportunities.
13. Embracing technology can streamline and enhance freelancing workflows.
14. Handling rejection and setbacks is part of the freelancing journey.
15. Offering specialized services can differentiate freelancers in a competitive market.
16. Understanding legal and financial aspects is crucial for a freelance business.
17. Adaptability and resilience are essential traits for freelancers in a dynamic industry.

Table of Contents

1. Lack Of Benefits

As a freelancer, you are your boss. This means that you have to take care of everything yourself which is awesome! You can work whenever and wherever you want, so long as it’s on your computer or mobile device with an internet connection.

You get to be your HR department by deciding how much money you want to make each month and not having anyone tell you what time of day to clock in or out.

But wait…what about sick days? What about paid vacation days? What about health insurance? 401Ks? Does paid maternity leave? Does paid paternity leave? Paid time off?

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2. Freelancing Is Introvert Friendly, But Also Not

If you’re an introvert, freelancing can be a dream come true. Not only does it afford you the freedom to work from home on your schedule, but it also allows you to control how much socialization and interaction with others you want in your life.

You don’t have to answer anyone else’s emails or phone calls, and if someone wants to meet up with you face-to-face for lunch? That’s totally up to them!

That said, freelancers aren’t exempt from feelings of loneliness and this can be especially true if they’re used to having coworkers around all day long.

Even when I was working from home as a contractor for big companies like Google and Microsoft (who offered great benefits), I still struggled at times with feeling isolated: did everyone else get together for drinks after work? Was everyone having fun without me? Did my friends even know what I did all day long?

3. You Need A Schedule Really

When I started freelance writing and editing full-time, I thought I would have all kinds of freedom and flexibility. But in reality, working for yourself means that you need to be disciplined about your work schedule and routine.

You also need to be organized and able to get things done on your own. And if you want to do it as a business owner? Well then, that means being able to work remotely (or from home) because otherwise how will people hire you?

I’ve found that being remote helps me focus better than when I’m in an office setting with co-workers around me. Plus, the lack of distraction is great!

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4. Working From Home Doesn’t Give You The Freedom To Do Whatever You Want

While working from home sounds like a dream come true, it’s not all sunshine and rainbows. There are some things you need to take into consideration before jumping in.

You need to be disciplined. If you’re used to getting up at 9 AM, going out for lunch with your coworkers, and leaving at 5 PM every day, working from home is going to be a big adjustment.

You will have no one looking over your shoulder telling you when to start work or telling you that it’s time for lunch now you’re on your own!

You need not only have discipline but also organization skills. For freelance work to flow smoothly without any hiccups and delays, everything must be organized: your files/documents; software programs; bills/payments; tasks lists; etcetera…

Leaving anything half done or half decided on will only create more problems later on down the line and this can lead to procrastination (which leads directly into point #3).

5. It’s All On You

Freelancing is all about you. It’s on you to make things happen, and there’s no one else to blame when things go wrong. You don’t have a boss or a manager telling you what to do or how to do it, so if deadlines slip and projects don’t get done in time, well… it’s on you!

Do you get what I mean by now? Being self-disciplined and motivated are two important traits that any successful freelancer needs for their business (and life) to run smoothly.

If they aren’t able to manage their time wisely, they will find themselves stressed out with too much work at hand without enough time left over for personal matters such as family or leisure activities

6. No Paid Vacation? What Am I, A Peasant?

One of the great things about freelancing is that, in theory, you can work as much or as little as you want. But there’s a problem with this:

You don’t get paid when you’re not working. That’s right if you take vacation time, sick days and personal days are all off the table for freelance writers (and many other types of freelancers).

Take a day off? Nope! Most writers who take time off of work have to do so without pay. On top of that, freelancers also have to deal with the stress of keeping their bills paid while they’re on vacation (at least if they want to keep their health insurance coverage).

So what does this mean for someone who just wants some time off from writing? It means good luck getting out of your house without feeling guilty about how much money could be coming in by staying put at home doing absolutely nothing except watching Netflix or going grocery shopping.

7. Taxes Are Even Harder As A Freelancer

Taxes are where things get scary, whether you’re in the US or not. If you’ve been paying taxes as an employee, freelancing is going to be a rude awakening with regards to how much money goes out of your bank account every month.

As a freelancer, when do you get taxed? Well… everywhere! You have to pay taxes on income from clients (and on any other revenue streams like investments), but also on your expenses and even sometimes revenue that’s over a year (like if the last client was late paying).

Now imagine having to deal with all of this while trying to balance dozens or hundreds of invoices from clients and then get all those paid off quickly so that they don’t charge interest.

Every single time I sign up for a new client I have this existential crisis moment where all my cares about money disappear into thin air I just want them paid off fast so I can sleep at night!

This is why we see so many stories about successful entrepreneurs who started their businesses young: because starting early means less stress later in life when it comes down to managing debtors and creditors who are harassing us daily about past payments.

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8. There’s Always More Work To Do

No matter how hard you try, there will always be more work to do. This can feel overwhelming and stressful at times, but it’s important to remember that this is okay. You should never feel bad about not getting everything done.

Freelancers are constantly busy with deadlines, projects and client needs so don’t beat yourself up too much if you have a few unfinished tasks in your inbox. Instead of obsessing over the undone work, focus your energy on making progress on what’s already in front of you.

There are some things freelancers can do to limit the number of unfinished tasks:

Prioritize tasks that need completion soonest (for example, those due by end of the month) first so they don’t become forgotten about as other priorities come up later on
Create specific time blocks each day for completing certain types/sizes/types of projects so none get pushed aside by others more pressing in nature

9. No One Is Keeping Track Of Your Time For You

There will be no one to keep track of your time for you. You need to know how many hours you work and what you’re being paid per hour, so that at the end of the year, when it’s time to file your taxes, you can do so accurately.

Additionally, if there is something common for freelancers like yourself (such as a business model) or even just industry standards that go along with what type of clientele they deal with regularly then this could help them out tremendously later on down their career path.

10. Be Prepared To Have A “Plan B” Money Source

This is the most important thing to remember when deciding to freelance. It’s not that freelancing isn’t a great source of income, but you have to be prepared for the day when your client decides to cancel their contract with you at the last minute and tell you that they can’t afford your services anymore.

You need to have some kind of backup plan in place if this happens (or any other similar scenario).

If nothing else, make sure that whatever money comes from freelancing is just one portion of your total income and not all of it. It would suck if everything fell apart because one client decided they didn’t want what you provided anymore!

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11. Deadlines Are Scarier Than Ever

One of the most common things I hear from people who want to freelance is, “I’d love to do it as a side gig, but I’m too busy.” And while this may be true for some freelancers who are working full-time jobs or have families and other responsibilities, there’s one thing that all entrepreneurs have in common: they don’t say no to deadlines.

As a freelancer, you’re your boss. You’re the only one responsible for getting things done on time (and meeting them) and that can be scarier than ever.

Knowing that if you procrastinate on something important enough when working full-time at an office job with coworkers who are depending on you would be stressful enough but now imagine it happening with just yourself and no one else.

This means that unless someone else steps in to help out (or your client does), there are often when we have no choice but to take up extra hours working just so we won’t let down our clients or ourselves by missing their deadline expectations.

12. Staying Motivated During Slow Times Can Be Hard

When you first start freelancing, it can be hard to stay motivated. After all, when you are working for someone else and they pay you on time, there is less chance of your motivation waning.

But when it comes to freelance work, there’s no guarantee that the work will come in or that the money will follow. It can be difficult to keep working when things are slow and nothing is coming in, especially if your bills need paying!

The best thing for me was having a dedicated place where I could focus with no distractions around me. I found that working from home was often too distracting with my kids screaming and wanting attention constantly.

So I started working from an office space where others were doing their own thing as well as other freelancers who have been around longer than me so they have tips on how long these cycles last or what they did when they needed inspiration back then but now have gone full time into their business so still get paid even though nothing has been booked yet!

13. Raising Prices Is Harder Than It Looks

Raising your prices is never easy, but it’s something you can’t avoid. You’ll have to raise them at some point if you want to stay in business and make a living.

But there are lots of ways to screw up when it comes to raising prices, so we’ve made a list of the most common mistakes freelancers make when they go about increasing their rates:

Raising Prices Without a Good Reason – You need to be able to justify any price increase. If you’re just looking for more money without showing how much value your work is adding for clients, no one will bite!

Make sure you can show how much more value your product will provide before asking for a pay increase.

Not Making Sure Clients Are Ready – Raising prices without making sure clients are ready means that they’re going to expect even more from you and that may not always be possible depending on their expectations (and yours).

14. Getting Paid Can Be Tricky, Too

You might be thinking, “Well, that’s all fine and good, but what about getting paid?” For some freelancers, their payment method of choice is PayPal. But some clients would rather pay by credit card. And others don’t want to pay via bank transfer!

Getting paid can be tricky too! Some people have never even heard of a check before. Things like this happen when you freelance:

15. Tracking Expenses Isn’t Always Fun (But It Is Necessary)

Tracking expenses is not always fun. It can be tedious and annoying, especially if you’re just starting.

However, it’s incredibly important to keep track of your money if you want to succeed as a freelancer. Tracking expenses will allow you to see how much money is coming in and going out of your account and that will help when it comes time for taxes.

But there are so many different ways to do this!

You can set up a budget by hand with paper and pen. Or…
Use an app such as Mint or QuickBooks Self-Employed
Pay off all credit card bills at the end of each month (this way they don’t pile up)

17. Health Insurance Isn’t A Given. It Might Cost You An Arm And A Leg

One of the biggest reasons why freelancers don’t get health insurance is that it can be extremely hard to find. Health insurance isn’t a given in most countries and the process of getting it isn’t always easy.

“Health insurance is expensive, complex, and confusing,” says Doug Pemrose, an independent health insurance broker for Health Insurance Advisers Limited in Toronto. “It’s not just about choosing between several plans.”

The system is so complex that many people don’t know where to start or how much they need especially if they’re new freelancers who haven’t had employer-sponsored coverage before.

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Final Thoughts

In a nutshell, If you’re going to be freelancing, you have to expect the good and the bad. There are upsides as well as downsides, but hey the same is true of any job out there.

It’s important to stay aware of the difficulties that come with freelancing so that you can be prepared for them when they happen.

That said, it’s also important not to let any of this scare you away from pursuing a career path that will reward your hard work and allow you creative freedom at a level that most jobs can’t offer. If it’s what you want, go get it.