On its face, the idea of freelancing sounds amazing. Dreams of being your own boss, working when you want, nixing commutes and avoiding office politics feel like they’re coming to fruition when you start out on your own.
In many regards, all those things are true about freelancing, and they’re part of the reason why over 10 million Americans call themselves independent contractors. But this decision can’t be made lightly, as turning away from corporate life also means turning away from its benefits and relative security. Before you turn your back on the tried-and-true workday for good, there are a few things you’ll need to consider before walking out.
1. You Need to Be Self-Disciplined and Proactive
When you are your own boss, you answer only to yourself and your clients. This means you’re responsible for finding clients, scheduling deadlines, doing quality work, drafting invoices, managing your payables, managing books and filing taxes. You are also your own salesperson, the only person who can turn leads into clients. There are no paid vacations or sick days in freelancing, and it’s up to you to set up and maintain health insurance. The math is simple: you get out only as much as you put in. All of this requires not only the willingness to say “I’ll do it,” but also the energy and commitment to actually see it through.
On top of your new commitments, you have a responsibility to meet your deadlines reliably and professionally. You no longer have the luxury of a boss riding your back to meet expectations. As such, passive procrastination should now repulse you. If you miss a deadline without adequate and valid notice, you can kiss your income goodbye, because that client will not be coming back and will certainly not recommend you to anyone else. Excuses from your personal life will fall on increasingly deaf ears. Remember, your clients count on you. In freelancing, the rule is to get the work done or don’t take it on in the first place.
2. You Have to Be Willing to Work Odd Hours
One of the great advantages of freelancing is that you regain control overyour time and environment. This works for many people who do not follow the normal 9-to-5 schedule, including those with caregiving responsibilities or who use modern technology to perform their jobs remotely online.
But if you’re not working 9-to-5, then you’re likely working “odd hours,” or hours that fall outside of a conventional work schedule. This can mean working very late, very early, while you’re traveling or on weekends or even holidays. But it can also mean not missing family events or having time for errands and appointments during the day, all without guilt. It can even mean being more in sync with your client’s schedule and needs, as he or she may not be working during typical hours either.
As long as your clients are getting what they need when they need it, it doesn’t make much difference whether you’re in your home office or a hotel room at Disneyland. Then again, realize that freelancing means that you may need to be working from your hotel room at Disneyland, which isn’t always a good thing.
3. You Need to Be Good With Money
Your income will fluctuate, and there will likely be no steady paycheck—or even steady amount—every two weeks like in-house employment. You’ll have to maintain a budget to stay afloat. So if you can’t control your spending or live beneath your means, or stay on top of your invoicing or project your income, then freelancing may not be for you. Unless you can be disciplined in your spending, the potential financial stress will be a very heavy burden to bear.
4. The Pace of the Work Will Fluctuate
If your services are in demand, you may go through periods of being triple-booked and working nonstop without a break for days on end. Then, all of a sudden, you might not have any jobs lined up for a few days, weeks or even months. In this way, freelancers do indeed live and die by the sword. When you have work, you have income; when you don’t have work, you have to work hard to get clients. Be ready to cope with booms and busts accordingly.
5. You Cannot Escape Jerks, Office Politics or Unnecessary Meetings
These are perhaps the biggest surprises about freelancing. Sure, you’ll never have to set foot inside a cubicle again. You’ll never have to listen to annoying co-workers talk to their friends on the phone or hear Muzak all day. But you will still have to deal with jerks.
In fact, your best clients may turn out to be the biggest jerks. They may be the people you need to get a project done, or they might be responsible for figuring out why your invoice is still outstanding. You will have seemingly unnecessary meetings with them, and you’ll have to deal with them in ways that you find trite or difficult. Jerks will still try to manipulate you; they’ll just be doing it remotely.
The truth is that jerks, like your co-workers, are people. People behave differently and see different things with varying degrees of importance; they will act in ways you never saw coming. Your ability to get along with people will dictate how successful you are, no matter if you’re in a cubicle, on the phone or at the bargaining table.
6. In Fact, You’ll Likely Face a Whole New Set of “Office Politics”
While you’re in the midst of three concurrent projects, a client will pop up and ask you to do something. But you’re already slammed. Do you turn the client down, knowing you might lose the income or hurt the relationship? Or do you take it and somehow make it work?
Just as your decisions at the office dictated how your peers and supervisors interacted with you, your decisions on which jobs to take and when to take them will have consequences throughout your career. These are the decisions you’ll have to balance as a freelancer.
7. You Need to Be Okay With Working Alone
If you’re an extreme extrovert, the “free” part of freelancing may be an adjustment. Although it does take some degree of extroversion to go out and land clients, you’ll still have to get the work done on your own or with a very small team. If you enjoy schmoozing or talking a lot, it may be very difficult to sit in your home office all day and listen to the clock ticking.
But don’t get rid of your business attire just yet, as you’ll probably have to meet with clients or other folks in a formal setting once in a while. Just realize that freelancing is usually project-oriented, and much of your time will likely be spent working alone on completing those projects.
8. People Will Think You Don’t Work Hard or Don’t Work at All
For whatever reason, many people still don’t understand the practice and culture behind freelancing. They often assume that freelancing is a hobby or something that happens only “once in a while.”
Because of your odd hours or varying frequency of work, people might draw conclusions based on their (often wrong) perceptions of a freelancer. They might openly criticize you, so be prepared for a few sarcastic comments (e.g. “That must be nice!”) when you tell people about the nature of your job. People might also make demands for your personal time because they think you have a lot of it. For example, relatives may come to town and expect you to be available on a Wednesday afternoon based on the belief that you’re free because you’re home. And others may even try to take advantage of your services for free or for a large discount.
Freelancing can be incredibly rewarding for you and your family, but be prepared to answer questions from skeptics and to defend yourself against assaults on your time.
9. Know How to Negotiate
We’ve all had to negotiate in business, but for freelancers, it’s incredibly important. It is in your clients’ best interests to pay you as little as possible in order to control costs, but it’s in your best interest to earn as much as possible. Know what you’re worth by researching going rates for your industry and market. Make sure you have a good pitch for why you’re the most appropriate person to do the job.
Sometimes, in order to establish a relationship, it’s worth it in the long run to take a gig that pays less than you deserve. But beyond that, don’t be afraid to ask for what you want, as nobody else will do it for you. Perhaps more importantly, don’t be afraid to walk away from a job offered by a client paying far below market rate.
While not for everyone, freelancing can be a good way to balance your work life against your personal life while still doing rewarding work. But be wary, as there can be long hours and lots of stress—both financially and professionally—waiting for the underprepared. For those that have the discipline to make it work, a freelance career can be financially and emotionally fulfilling.
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