If having an independent income and financial independence is important to you, then freelancing is an easy first step to reaching that goal.
Freelancing is a business model that is easy to get into, flexible, and can be a steady source of income. It’s a way to create an independent income without developing products or courses to sell.
In this article, we’ll show you why freelancing is here to stay, why it’s so popular, and how you can engage.
Freelancing is the future of work.
Freelancing is the future of jobs. It’s the fastest-growing job sector.
It’s an ideal choice for those who either hate their 9-5 corporate job and want to create something to replace their income, recently got laid off and don’t want to get back into the rat race, or want to create a career that you can continue into your retirement.
Here are some statistics that show how freelancing is here to stay, will continue to grow, and become a force in the work world.
1-In the U.S. this year (2019), 57 million people worked as freelancers, up from around 53 million in 2014. That’s about 35% of the U.S workforce.
2-In a report from Forbes, a majority of US workers (50.9%) will be freelancers by 2027.
3-Fifty-three percent of freelancers believe that a diversified portfolio of clients is more stable than a day job with one company. This comprehensive study from And.co entitled The Slash Workers shows the state of the freelance economy.
Why is freelancing becoming so popular?
Freelancers are self-employed and offer their services to a variety of customers without a long term commitment. Services can be offered to corporate businesses, through a freelancing service, such as Upwork, or directly to the user, like a solopreneur or small business.
The demand for freelancers is growing for several reasons.
From a company’s point of view by using freelancers or contract workers they can keep their full-time employees to a minimum, reduce the cost of providing benefits, and only hire someone with specialized skills when there is a need.
From the freelancer’s perspective, there are many advantages. Here are the top reasons for starting as a freelancer.
- take control of your life and be your own boss
- there’s no limit on how much you can earn
- technology allows you to work from anyplace and find clients all over the world
- choose when you work and have lifestyle flexibility
- work on projects you enjoy
The nature of freelancing has changed. It used to be viewed as a temporary step while searching for a new job. However, in a recent survey, the majority of freelancers reported that they were freelancing out of choice. Half of those who responded said they would not take a traditional job if it was offered to them.
Often, when people think freelancing is insecure by comparison to traditional jobs, she notes, they are comparing freelancing today to the W-2 jobs of the 1960s, not the reality that exists today. “There is a very romantic view of what traditional employment looks like.” Sara Horowitz, founder and executive director of the Freelancers Union.
How you can start a freelance career
Here are some resources and information to help start your freelance career:
Decide what you want to do as a freelancer.
If you know what you want to do that’s great. If you’re not sure, make a list of your skills, experiences and what you’re willing to learn. Then look at The 10 Best Sites to Find Gig Jobs and find a site that lists the kind of job you want.
Set up a website.
Freelancers need to develop a website and though you may not know how you want your website to look you still need to have a presence. This post suggests that you set up something that showcases your portfolio of work and clearly explains your services., or other tweaks to make that will increase your business.
Fasting growing freelancer sectors.
If you’re ready to start a freelancing career, this 2019 post about The Fastest Growing Job Sectors for Freelancers provides not only the 10 growth sectors but the average salary for each sector and links to several freelance opportunities in each field.
Top career jobs
As a freelancer, a major concern is where to find jobs. Freelance Jobs: Top 10 Freelance Career Fields and Top 10 Companies Hiring provides a list with links to the careers and the companies. The post is from 2018, but the website, www.flexjobs.com keeps their listing and advice up-to-date.
Setting your rates.
In this candid article Everything Freelancers Need to Know About Setting Rates, the author explains four different pricing structures and how to determine what you’re worth so you can charge accordingly.
Negotiating Your Fee.
To negotiate a profitable rate is an essential skill for a freelancer. Freelancers: How to Negotiate Like a Pro offers some tips on how to ask for the right fee.
Freelancer’s Union is a site you should know. It calls itself the largest community of freelancers on earth. It offers resources on legal, health, money, taxes and insurance issues.
As a freelancer, you are the business and it’s important to use technology and automation to your advantage. But with all the programs and apps available how do you choose. 25 Tools for Freelancers That Save You Time and Keep You Organized shares 25 tools that the author researched and uses to help you reduce the overwhelm.
Invoicing your clients.
Getting paid is a critical part of being a freelancer. So it’s important to create and send invoices properly. How to Invoice for Freelance Writers is a detailed lesson on how to do it well.
The Ultimate Freelancer’s Guide is a comprehensive review of everything you need to know about the basics of freelancing, setting up your business, building your brand, finding jobs, setting rates, getting paid, and managing your finances. It goe into great detail with many resources.
Freelancing is the fastest and easiest way to start earning income without having a traditional job. It is a great way to start something on the side while you’re still employed, build it into a full-time income, or keep it as a side-hustle and enjoy the additional income.
If freelancing is something you want to explore, the information and resources provided here give you all the material to get started.
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