6 Most Common Freelancing Advantages and Disadvantages

One of the freelancing advantages and disadvantages is a lot of freelancers enjoy both working remotely and traveling. Sometimes you don’t have clients at all.

Freelancing can be stressful and demanding, but it can be rewarding at the same time. But before you start to become a freelancer. You should be aware of the advantage and disadvantages of your decision.

If you are interested in freelancing. I have prepared a list of freelancing advantages and disadvantages that might help you make the right choice.

Freelancing Advantages and Disadvantages: In Terms of Work Management

Advantage:

One of the advantages of freelancing is you can work from anywhere. You can wear anything you like and nobody will call you out on it because you are your boss. But that’s not the important stuff.

The important is that you will get to select your clients. You will get to choose what to do and how to accomplish your project. All you will have to worry about is picking up a project and giving it your best.

You will be the only head of your business. You can control it however you want and reap all the profits.

Disadvantage:

One of the disadvantages of freelancing is you won’t have someone responsible for putting a salary in your bank account. Because you will have to do it on your own. 

Just because you don’t have a boss doesn’t mean that you can slack off a lot. Unlike your boss, you will have to report to someone more demanding, which is your clients. 

Freelancing Advantages and Disadvantages: In Terms of Work Load Control

Advantage:

As a freelancer, based on your competency, capability, and availability. You are free to take as much work as you want.

You can get to choose whom you want to work with and what you want to work on. You can work on a project that you love or are passionate about. 

Freelancing also gives you the flexibility of how much work can be completed. You can also work with a team of other freelancers and delegate work to respective experts in the team.

Disadvantage:

Today, you might have tons of clients at your doorstep. But there may be none tomorrow. Freelancing is all about keeping your work up to date. 

At times you might have no clients at all. You have no insurance that you will always have success. 

Hence you must work on something that you like or are passionate about. Freelancing might not give you any financial insurance, but it promises many experiences. 

Freelancing Advantages and Disadvantages: In Terms of Work Environment

Advantage: 

Most office employees feel stuck in a cubicle for hours. But as a freelancer, you don’t have to worry about that. 

You could wake up and choose to work on a personal project before working for your client and vice versa. 

Working remotely does not mean working from home. A lot of freelancers enjoy working remotely and traveling at the same time. It allows you to enjoy life to its fullest without missing out on much.

Disadvantage: 

Lack of communication with peers causes stress and boredom too. As a freelancer, you can become isolated as you no longer spend your days working with your colleagues. You work alone with no teammates.

As freelancers work alone, they have to work on their own. There are no available resources like computers, data, meetings on projects, or discussions on strategies, which one gets in a corporate job.

Freelancing Advantages and Disadvantages: In Terms of Finance Management

Advantage: 

As a freelancer, you have the opportunity to control and grow your income. In the beginning, it might be difficult for you to find clients based on your lack of experience. 

But once you have the right expertise and skills, you will be able to create your personal brand and offer your services for a price.

Freelancing allows you to work from home. This will enable you to cut back on all the money spent commuting. It helps freelancers use the cost and time spent on commuting effectively, leading to a better work-life balance.

Disadvantage: 

One of the disadvantages of freelancing is the lack of employee benefits that one receives in their corporate job like provident fund, paid leaves, regular income, celebrations, gifts, appraisals, appreciations, or bonuses.

Most employees get paid time off, sick leaves, national holidays, and even company benefits like reimbursements, discounts, and insurance. 

As a freelancer, you don’t have paid leaves and employment benefits. You have to rely on your earnings to get these benefits solely. A freelancer has to pay insurance bills and organize retirement funding.

Freelancing Advantages and Disadvantages: In Terms of Building Business

Advantage: 

As mentioned earlier, you won’t be stuck in a cubicle for hours. In addition, you will get to choose when you want to work; part-time or full-time. 

One of the advantages of freelancing is you have the independence to work and grow. You can choose which clients you want to work with. There is no limit to how many clients you can work with at once.

You would get to decide which services you want to offer and at what price. All this is to say is that you would get complete control and independence in your work.

Disadvantage: 

One of the disadvantages of freelancing is finding clients. Finding clients is the most common struggle among freelancers. 

Today, you might have three jobs. But after a week, you might not even get a single one.

Sometimes you might get postponed, or your client might end unexpectedly. You might also experience clients who don’t pay at all. 

To have a successful career in freelancing, you have to work hard to build a reputation or a profile that ensures the best quality for the client.

Freelancing Advantages and Disadvantages: In Terms of Work Responsibility

Advantage: 

One of the best advantages of freelancing is the freedom of choosing the work for yourself.

You are free to choose the client, project, company, or the kind of service you want to deliver as per their suitability.

You are free to work according to your schedule. You are free from any restriction of the fixed 9 to 5 job. You can work whenever and however you want as long as you can deliver the project on time.

Disadvantage: 

One of the disadvantages of freelancing is you are solely responsible for all the work done on a project. It means that the success or failure of the projects is your responsibility only. 

Freelancers have to strive hard in the starting or even forever to get the next projects after completing the previous ones. 

Conclusion

If you are not in a financial crisis and you are a risk-taker, then freelancing is the best choice for you. However, freelancing comes with risks of failure and no assurance.

Now you know the 6 most common freelancing advantages and disadvantages. Choose what suits you the best.

Click this link for more freelancing tricks.

Written by: Japhet Torres, creator of Kadlight.com

People Also Ask

Freelancing lets you learn and develop your skillset. That includes the skills you started with. You will learn something from every project or freelance job you take on. This means you take that new knowledge and new skills to the next project.

Freelancing work can be unstable. It could also be like a feast and famine. Where one month you will have lots of work and the next month you struggle to get a single project.

If you want to make your own hours or have lots of commitments outside of work that requires you to take time off, then freelancing is a great option for you.

As a freelancer, you can work for yourself, or work remotely anywhere full-time. You don't have to commute to an in-person office any longer or deal with traffic every day. Not to mention you can wear whatever you want!

According to Upwork's data on freelancers, 44% of freelancers made more money than they did when employed at a traditional job.

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