Becoming a Freelancer

Going freelance: is it right for you? Becoming a freelancer is a big decision. This is where you work for yourself: you’ll end permanent, contracted employment, in favour of finding temporary work from a wide variety of companies. It can be a daunting thought, but you’ll also be joined on your journey by the other two million freelancers that work in the UK. But is it right for you and how can you plan for freelancing? Read on to find out.

Why are you doing it?

To begin with, it’s worth reflecting on why you want to go freelance. You might be prompted to consider freelance life because of a bad boss or a tedious job, but there are other considerations you should explore. Do you have enough relationships with clients and organisations to find stable freelance work for yourself? Or you might consider your financial responsibilities and whether you’re able to take the risks that come with being freelance. Ultimately, by considering the pros and cons below and comparing them to your situation, you can make an informed decision.

Pros

The main benefit of going freelance is the freedom it’ll bring to your life: you’ll be able to choose what work you want to take on and when you want to work. This can help you improve your work/life balance. On top of this, you’ll also benefit from a wider variety of work – especially as you’ll be working for plenty of different companies. This can provide you with the opportunity to be more creative and avoid office politics and bad bosses. Ultimately, going freelance can leave you in charge of your career.

Cons

There are downsides to being freelance though. For a start, you won’t be paid a regular wage. Instead, you’ll be paid depending on the work you can complete. If things go well, you will earn more than you’d expect from a permanent job. However, during a lean spell, you won’t have a guaranteed wage to fall back on. On top of this, you’ll receive no pension contributions, and you might find this solitary lifestyle lonely.

Lay out a plan

If you do decide to go freelance, laying out a plan will be essential. Begin by examining the market and the available jobs out there. Next, you should plan how to work in your target market and how this could start earning you money. If you’re struggling to see how freelancing could be financially viable, you could consider seeking advice from specialist consultants.

Going freelance can be an exciting moment in your life – but you’ll need to plan carefully. And by following the guide above, you should be all set for success.