what is freelancing | How to learn freelancing

what is freelancing

The phrase 'I'm a freelancer' gets thrown around these days when someone is asked what they do for a living. It could be a friend, colleague or even your family member who quit his regular 9 to 5 job to become a freelancer. How to learn freelancing.

Many factors contribute to this sudden change in people's mindset towards work which compels them to turn to freelancing.

But why do they do that?

Can freelancers survive long without a job?

What exactly does this "freelancer" do?

And how do freelancers make money?

Here is a comprehensive guide to answer all your questions.

 

What is Freelancing

Freelancing is a contract-based profession where instead of being employed by an organization, the individual uses his skills and experience to provide services to a number of clients.

Simply put, freelancing is when you use your skills, education and experience to work with multiple clients and take on a variety of assignments without committing to a single employer. The assignments or tasks you can take on depend on your ability to deliver as requested.

Freelancing usually involves jobs (called gigs) that allow you to work from home. But don't equate freelancing with working from home.

Freelancing doesn't mean you work from home. Depending on the type of work and the client's requirements, you may also be required to work at your client's office.

Working at home involves a contract between you and a single employer who pays you while freelancing does not.

It is true that many of the tasks that freelancers perform can be delivered over the Internet without their presence on the premises of companies or clients.

Who is a freelancer

A freelancer or freelance worker is a self-employed person who earns money by providing services to multiple clients. These services are related to the individual's expertise and are not necessarily provided exclusively for businesses.

Freelancers either use third-party platforms like Fiverr, 99designs, etc. to get business or use their network to get more business and serve their clients directly.

But is it a good choice for career? Can you maintain a luxurious life while freelancing? How do you start freelancing?

Well, when 11 percent of the working adult population in the United States is working primarily as a full-time freelancer, there must be something good about this industry.

Freelancing as a career

The rise of freelancers has led to the development of a new concept – the gig economy. In the gig economy, an individual, instead of working full-time for a single employer and receiving a fixed salary in return, works for multiple clients on his own terms and at a price he feels his work deserves.

Freelancing is a lucrative career. It takes care of almost all the problems of a common service-class man. According to Upwork, Americans work an average of 47 hours per week. Freelancers work an average of 11 hours less per week than full-time workers. This adds up to about 550 hours or 23 full days a year.

Full-time traditional workers spend about an extra full month behind a keyboard (or wherever they work) each year.

Freelancing Salary

Along with the benefits like freedom to work from anywhere you like, being your own boss, keeping all the profits and low cost of management, all these definitely attract many people to take up freelancing as a career.

But many do not follow it full time.

why are you asking

Well, the answer is largely embedded in our human psyche.

It is deeply rooted in our minds to look for guarantees. A regular job guarantees us a career that pays on time. You will get a routine to follow. And this job also offers guaranteed benefits like insurance, retirement benefits, provident fund, increments and pay hikes for performing well.

When you choose freelancing, you lose any of these guarantees. There is no guarantee that you will get repeat clients. There is no guarantee that you will be able to maintain this lifestyle until retirement, nor is there any guarantee that your income will increase.

Moreover, you can manage your tax deductions, insurance and other finances yourself.

Also there are other disadvantages of freelancing like-

Work Life Balance: Freelancing becomes more difficult than a regular nine-to-five job if you don't know how to separate personal life from work.

No benefits: Freelancers are responsible for their own vacation, sick days, holidays and must be good financial and time-management planners.

Difficult Clients: You may find some clients who are extremely difficult to handle. They may fail to provide correct instructions and information to complete the work or may be unavailable to clear any doubts. This can be frustrating and waste your time.

Every profession always has pros and cons and it is up to you to balance it properly for a healthy position. If you feel that freelancing can be beneficial for you and the disadvantages are not too important. Read on to find out how you can become a freelancer.

How to become a freelancer

Becoming a freelancer is as easy as ordering something on the internet. You go to sites that offer freelance jobs and tasks and this is a great way to start getting accepted and get your name out there.

Here are some sites you can try for freelancing jobs:

Toptal: Toptal is a highly selective and exclusive platform for freelancers, known for its strict screening process to ensure acceptance of only the top 3% of applicants. However, you earn the most money if selected here.

Fiverr: The world's largest marketplace for finding freelance jobs. All you can do is create an account post, add a few links and you're done.

99 Designs: Freelancing is a perfect place to find a job if you are a designer.

Upwork: Upwork is a more professional looking freelance marketplace where you get more business clients.

Freelancer.com: Freelancer.com is the oldest freelance job marketplace that you can choose from in your early years when you have little or no freelance experience.

(If you want to see more options, we have a full list of the best outsourcing websites here)

Working on a few gigs from these sites helps you understand how freelancing works as a career and helps you stick to it.

But before going to these freelance websites, you need to set up a freelance brand for yourself. Follow these steps for the same –

Determine what services you will offer.

Determine your target market.

Find the platform (freelancing website) that will serve you. Choose a common username for all of them. It helps you build your brand identity.

Determine your rate

Create an online portfolio on your niche-specific portfolio platforms; GitHub for developers, Behance for designers etc. We suggest you create a personal portfolio website to showcase your skills and talents.

Market your services: Market on social media, offer something free or at very low cost (helps get more traction), ask for referrals and use email marketing.

We do not recommend that you abandon your existing source of income and jump into freelancing. Try it as a part-time venture to see how it works for you in the initial months.

It is not absolutely necessary that you have to freelance full time. Whether you want to do it full time or keep your existing job and earn money in your spare time is up to you.

If you think you really like the way things are going, it's time to take the next step and start making money freelancing.

next episode

Once you feel that you can provide for yourself and work this way, the next step is to take on multiple assignments for multiple revenue streams. This should include gigs that you personally got using the methods mentioned above as well as from freelancing sites.

Another possibility is that you can make it a full-time gig. Full time freelancing means you can earn a variety of income. You can:

Discuss monthly retainers

Commission negotiation on sales projects

Create a referral system to reward those who send you new clients

Market Yourself Directly: Here's a helpful guide to marketing and creating the perfect personal

branding for yourself

Take care of your finances

While on the job, most of the "money stuff" is taken care of by the company you work for. You get regular paychecks without asking; Your taxes are automatically deducted, and insurance is probably taken care of by your employer.

Things are different when you are alone and you have to take care of the following by yourself:

Getting your paycheck: This is considered to be the hardest part to manage, be it for freelancing veterans or newbies. Negotiating and communicating with your client to pay for your services on time proves to be quite a challenge. Take care of it properly and you are ready to do great work in the freelance field. Check out this guide on negotiating like a pro to help you get more tips and insights.

Tax: You need to manage your personal and professional tax complications yourself.

Insurance and retirement benefits: You need to find the best insurance policy and plan for your retirement.

What it comes down to is that being a freelancer and working in the gig economy means taking a lot of responsibility for your own finances, whether it's negotiating your salary, finding insurance or paying taxes. But if you like the freedom, flexibility and earning potential that comes with being independent, then freelancing is an ideal situation.

a creeper

Freelancing is equal parts positive and negative. You have to decide if you are willing to take the risk that almost always comes with it. Freelancing means professional freedom, but it also means volatility and the risk of failure. And it may not be what you need in your professional life. But if you risk your stability for something more in line with your professional goals than a traditional job, you have an opportunity to build your name and reputation and reach your professional goals.