In today’s working world, many people are jumping off the corporate bandwagon to take on freelance work and start their own individual businesses. Perhaps you have thought about dipping your toe into the intimidating waters of freelance work, but have been hesitant due to the uncertainty and risk associated with freelance work.
There are three key reasons why you should consider freelance work such as creating multiple streams of income, having more control over your earnings, and creating more flexibility in your work situation.
1. Income Variety
AOL Jobs points out that when you work for one company, and only one company, you are putting all of your eggs in one basket. What if that company closes or decides to lay you off? You are putting your earning potential into one company’s hands. Wouldn’t it be better to have multiple streams of income coming in from many different companies? If one company closes or no longer needs your services, you still have other companies to provide freelance work to, while earning your income.
By maintaining more variety in your income stream, you are actually creating a more secure employment situation rather than working for only one company.
2. Income Control
When you work for one company as a W2 employee, you can work long hours and hope for a pay raise or bonus. When you work for yourself, you get to decide your wages and billings with each assignment you accept, depending on your experience. Who doesn’t want more control over their earnings?
AOL Jobs recognizes that one of the most appealing things about freelance work is the flexibility it offers.
Don’t like the typical 9 to 5 schedule?
Not crazy about working in a stiff office environment?
Have a desire to take a spur of the moment trip to Hawaii?
Have you always dreamt of living in a different city or state?
Most of these things are of no concern when it comes to freelance work. Depending on the type of freelance work you are doing, you can live anywhere in the world, and work the schedule you desire in the environment you prefer. The ability to take your work with you, no matter where you go is a huge benefit of freelance work.
Being your own boss is not easy and it requires a lot of determination and focus, but the benefits can far outweigh the difficult work once you start your own freelance business.
What are some of the benefits you see in freelance work? Please share your experiences in the comments below.