Are you stepping into freelancing?

Well, before you finalize your decision, I suggest to first fully understand what does this freelancing actually mean?

Working for a company and working as a freelancer has a huge difference. When you join the company, you actually work for a company and the company assigns you the work for which you get paid at the end of each month, which is known as Salary. But getting into freelancing is not an essay task. In freelancing, you have to search work by yourself and in order to get a good possible head start, you should have a strong reputation about yourself. And building a strong reputation requires time, effort, hard work.Once you have the good reputation, it becomes easier for you to get your first client. For Example – When you go to amazon website for shopping purpose, most of the times you take a decision regarding the purchase of product based on the reviews by the other customers, who have already purchased the product. More positive reviews mean it is likely that more customers will purchase the product.

Reputation can be build by showing your actual work live by means of sample demos. But it might take some time. In case if you are planning to quit current job and start doing freelancing. Then this would be the biggest mistake. Because, as I said building reputation takes some time and if you quit your current job, then it might put you in debt, which can lead to frustration, loss of hopes etc. No matter you love your current job or not, but at least it helps you to meet your basic expenses.Don’t quit your current job unless you get a good hands-on in the freelancing and have the confidence that you can survive on the income which you get.

You tend to work more in freelancing, because you get paid only when you do the work. Unlike a company, where the employee’s main intention is to complete the working hours. You will miss many perks of the company like paid leaves, Sick leaves, Bonus etc. Hence, you will find yourself doing work only which can make you feel lonely, depressed and can become difficult to maintain work-life balance.Whereas, it is not guaranteed that you will get paid for the hours you worked. The task, such as learning, basic installation comes under non-billable hours, which means you are not paid for such tasks. One of the tedious job in freelancing in case if you are paid hourly is that you need to maintain your timesheet daily. On the other hand, freelancing gives you more freedom, more income in less amount of time etc.

One more thing you need to keep in mind is that, in case if you get stuck, then you are the only person who needs to figure out the solution. Especially, if you are a software developer then it can be really frustrating sometimes. Whereas in company, you can easily get help from the colleagues. Below are a few key points which differentiates between employee and freelancer.

Employee Freelancer
You work less You work more, as you are paid for the hours you work
Socialized Loneliness
Less payment More income in less period of time
More stabilized Less stabilized
Nothing More distractions as you work from home
Extra benefits like bonus, paid leaves, parties, outings Nothing
Nothing You have to search for work once the current work gets overed
Less freedom More freedom
Nothing You have to do marketing of yourself
Nothing Non-billable hours like learning, installation

Finally, it differs from person to person. Freelancing suits for some people, whereas for some people it won’t. Thanks for reading.