What is a Freelancer?

Have you ever wondered, What is a freelancer? Perhaps you’ve heard the term, but you’re not sure exactly what it means to be a freelancer or how to become one. If that’s the case, then this post is for you.

We are going to:

• Define what freelancing is.
• Explain how freelancing works.
• Show you the benefits of freelancing.
• Outline the drawbacks of freelancing.
• Provide you with an opportunity to start your journey as a freelancer.

Keep reading to have all your questions about freelancing answered.

What Is Freelancing?

Freelancing is a type of self-employment. A freelancer is someone who provides a service for a client on a flexible, contractual basis. They can offer a wide range of services: content writing, graphic design, administration assistance, accounting, translation, marketing …the list goes on! 

Freelancers usually work independently on short-term projects with a defined scope. They can work with any number of clients simultaneously, and their commitment to their client only lasts until their contract is completed (although freelancers who impress their clients will often secure repeat work).

Freelancers are paid when they have completed the job or task they agreed to do. They can set their rates and take on as much or as little work as they want.

Some people freelance full-time, while others freelance as a side hustle.

How Does Freelancing Work?

Freelancing involves finding your niche, making sure you have the necessary skills, and marketing your services to secure work with clients.

There are lots of different ways that freelancers can connect with potential clients. For example, many will build an online presence – creating a portfolio and setting up relevant social media accounts – and network within their industry. Other options include signing up to freelance marketplaces and cold emailing prospects within your niche.

Once you have a client, negotiating a freelance contract generally includes these steps:

• Establishing a rate. You get to decide how much you’ll be paid based on your skill level and how much work you’ll need to do. How you decide to charge for your services is up to you. You could charge a flat fee, per hour, per task, per project, etc.
• Setting a date. You and your client will need to agree on when the work needs to be completed. Then, organize yourself so you can finish the job on time. You must be able to meet deadlines, and know how to manage situations when a deadline is missed.
• Collecting your payment. Once the job has been completed, you collect the money you’re owed. There are several ways to collect payment, although online payment tools are the easiest.

As a freelancer, you may choose to work with one client at a time, or you may take on multiple clients. That decision is entirely up to you based on how much work you think you can handle.

What Are the Benefits of Being a Freelancer?

One of the biggest benefits of being a freelancer is mentioned right in the name. It involves the feeling of being free. There’s a lot of freedom associated with freelancing. Here are some of the other benefits:

Flexible Schedule

You can choose when and how long you work each day. You’re not tied to a set schedule as in other forms of employment. As long as you finish your work on time, you can work whatever hours and days you want. This allows you to make time for friends, family, hobbies, and other work opportunities.

Freedom to Roam

Since you don’t have to show up at a specific office every day, you’re free to work from wherever you want. A cozy room in your house, a quiet neighborhood coffee shop, a cabin in the woods, or a beachside hammock are just a few places you could set up shop as a freelancer.

Work Variability

With traditional forms of employment, you must do what your boss tells you to do. Being a freelancer, you get to decide exactly who you work with. If you don’t like someone, you can choose not to work with them again.

You also get to decide exactly what type of projects you’ll take on. Your services can be as specialized or as general as you want. This freedom allows you to work on gaining new skills or strengthening the ones you feel are the most valuable.

Financial Independence

Because you can set your rates, you have greater control over how much money you can make as a freelancer. You’re not limited to the set salary an employer will pay you. You can make sure that you are paid what you deserve and what your abilities are worth.

There’s no need to wait for performance reviews or periodical raises. If you feel the quality of your work has improved, or if you have undergone additional training, you can adjust what you charge to reflect your enhanced skills.

What Are the Drawbacks of Freelancing?

The freedom of freelancing doesn’t come without drawbacks. There are also a lot of responsibilities associated with freelancing. Here are some things to be aware of when considering if freelancing is right for you:

Job Security

Being free to work whenever you want is great, but that is also what makes freelance work so erratic. Some weeks you may have more work than you can handle, other weeks you may have nothing. This variance means that a lot of freelancers make less money than salaried employees and need additional jobs to maintain a steady income.

You also need to ensure that you’re staying current in your chosen profession. You will not have an employer to offer you training. If your skills need updating, you must take care of that yourself. Freelancing is competitive, so you need to secure an advantage over your competition.

Isolation

Some people thrive around other people. The idea of venturing out to the same workplace at a given time every week provides a set routine and social opportunities. It can be uplifting to chat with coworkers and be mentored by experienced employers.

Working alone can be lonely. If you’re not a self-motivated person, you might have difficulty freelancing. Being able to work from anywhere is great, but it also requires you to be more active in finding people to network or socialize with. Common ways to combat loneliness include using a coworking space and joining an online freelance community.

Irregular Income

Freelancers need to constantly search for new clients. There will not be an employer to assign work for you, you’ll need to actively seek it out so you can make enough money to support your chosen lifestyle. Having recurring clients as a freelancer is great, but it’s a benefit that generally only comes with time.

You’ll also be responsible for making sure you get paid properly, and that you put money into savings for things like taxes, emergencies, and other expenses.

Administrative Responsibility

Making sure your clients pay you on time isn’t the only responsibility you’ll have to deal with when freelancing. Since you’re working alone, you’ll need to make sure all administrative and accounting issues are dealt with correctly.

Freelancers don’t have employers that will pay for health insurance, retirement savings, sick days, vacations, or holidays. You’ll need to organize all of this yourself or pay someone to help you.

Start Your Freelancing Career with Knowadays

Now that you know what a freelancer is and are familiar with the benefits and drawbacks of pursuing a freelance career, you can decide if it’s something that interests you. Freelancing can be challenging, but it can also be incredibly rewarding and lucrative.

If you’d like to venture into the exciting world of freelancing, we are here to help. Our Becoming a Freelancer course will teach you how to set up a successful freelance business, find clients, and price your services.

The best part is that we’ll even give you some lessons for free!