There are so many benefits associated with freelancing that makes it quite a lucrative career path. Statistics indicate that more and more people are getting inclined to freelancing. In a few years to come, almost half of the entire workforce in most developed countries will be freelancers. The surge in this industry has been attributed to the benefits that freelancing has to offer, as compared to the conventional 9-5 day jobs that the corporate worlds are known for. However, the million dollar question is; is freelancing worth leaving your corporate job? What you can get with a freelancing career?
Taking the leap - leaving your corporate job and start freelancing.
Top benefits of freelancing
There are quite a number of freelancing benefits that you can enjoy when you take this path to earn your daily bread as well as pay your bills.
- No boss hovering over your shoulder; technically, you become your own boss and can set time and schedule for your job. In other words, you can work whenever hour of the day or night you prefer.
- You can actually determine and control your income stream. This is more often based on the type of clients you’re working with, time taken on tasks, and also the kind of streams you can really go for.
- You can strike a balance in life between work, family, and other related personal issues. The fast-paced corporate life that ensnares many individuals will most likely be a story of the past.
- It becomes easy to network for mutual benefit based on the type of freelancing work you’re doing at a particular time.
- You can do work in casual clothing, and not to mention finding time to do things that you love best.
- You always have the best opportunity to choose and work with specific clients. And for those that you don’t like, you can just stop and proceed with others.
- Location free; this is one of the most interesting things about freelancing work. You can choose where to work, as long as you have a stable internet connection and power with you.
- Flexible work hours and great potential of increasing your income within a very short time.
- Tax deduction in many states and countries make freelancing a very good idea for many persons.
It is important to note that despite all these benefits, the transition period from corporate world can be quite hectic. It is for this reason you are advised to consider several factors before fully plunging into freelancing.
How to quit your day job
It is acknowledged that freelancing comes with freedom, but this is always accompanied by responsibility. Freedom and responsibility are two inseparable twins. This said, before you actually quit your day job, make it a point that you have weighed in the pros and cons. Start by evaluating your skills and whether you are ready to live with unsteady paycheck. Importantly, you must have high levels of self-discipline. It is great if you can test waters prior to handing in the resignation letter. Also, as you start, you can’t short-change yourself in regards to rates you will charge. In other words, try to talk to people who are already freelancing to get an overview of the entire market rates. As a matter of fact, discuss this with family members and friends you can trust. At the end of the day, they need to be at peace with the final decision you will make.
Always remember these 5 factors while transitioning:
- You’ll have to market yourself to potential clients
- You must have patience as things might not work out the first few months
- Find support from family and friends
- Save some money so that you do not incur losses
- Do some research before getting started
When is the best time to quit your job?
If you make up your mind, then you can go ahead and quit the day job. However, many people like to ask, when is the best time to quit? The answer to this question is not set in stone as every individual is different, and all people can’t experience the same things at the same time. In this case, you can quit your job when your confidence is high and your mind is ready. In as much as you might forfeit some benefits that come with corporate jobs, freelancing is one thing that you will surely like to do at all time. The sky is the limit in regard to your income, you learn a lot in the long run, and you can set up business that stands the test of time.
It all comes back to how fast you want to reach your life goals. In many cases, corporate world with its rigid structures cannot offer you such kind of opportunity. For those who want to dedicate their lives doing what they love most, freelancing is the way.