15 Execs and Cons of Being a Freelance Author

On this put up, I’ll be discussing the primary professionals and cons of freelance writing. Whether or not you’re contemplating a radical profession change, or just eager about incomes a bit of additional cash on-line on the aspect, this one is for you.

I’ve been doing freelance writing for a few years now. Whereas I completely love the advantages of being a contract author (and there are various – which is why I do it), there are undoubtedly a couple of downsides as I’ll clarify under.

If this can be a profession you’re contemplating, be certain to take a look at my put up on the finest freelance writing programs on-line, and my evaluation of the Knowadays course (which is at the moment providing a 25% low cost utilizing this hyperlink and promo code GOATS25).

For me, the largest benefits of freelance writing embody the flexibleness to decide on when and the place you’re employed, in addition to the power to determine precisely what sort of work you wish to do. Nonetheless, on the flip aspect, there isn’t any job safety and no assured paycheck every month.

It’s necessary that you just bear this stuff in thoughts when deciding whether or not or not this can be a profession (or aspect hustle) that may give you the results you want. General, I believe the disadvantages of being a contract author are vastly outweighed by the quite a few advantages. However, it is advisable take into account what’s best for you.

Execs of Being a Freelance Author

Listed below are a few of the key benefits of being a contract author. This checklist displays my very own private expertise, in addition to the experiences of different people who I do know who work as freelance writers. There’s various overlap between every level, however I’ve damaged them down for the sake of readability.

Do not forget that each job is completely different, and each freelance author is exclusive. So, the precise professionals and cons of being a contract author will differ in line with every particular person and their particular person circumstances. Nonetheless, the next are some common benefits which can be prone to apply to most individuals.

1. Flexibility

Considered one of my favourite issues about freelance writing is the massive quantity of flexibility it provides. As a freelancer, you’ve got whole management over your schedule, together with when, the place, and the way a lot you’re employed. This flexibility might be particularly useful for individuals who have children or different commitments.

It’s arduous to overstate fairly how a lot of a recreation changer this flexibility is, significantly compared with a “conventional” job – i.e. full-time, in-person employment. You may set your personal hours and take as many breaks, or as a lot time without work, as you need. It’s superior!

For instance, in the event you’re feeling burnt out, wish to attend a pal’s wedding ceremony in Italy, fancy a spontaneous highway journey, or just want a change of surroundings, you may take a day (or per week, or a month) off with out having to ask for permission out of your employer or boss.

In fact, you continue to must handle the expectations of your purchasers. Nonetheless, the dynamic is completely completely different from being an worker. You simply must allow them to know what you’re doing – you don’t must ask permission. It’s an necessary distinction!

2. Autonomy

One other main perk of being a contract author is the autonomy it supplies. This goes hand in hand with flexibility (see above). As a freelancer, you’re your personal boss. So, you set the principles – together with the way you wish to outline “success” in your profession.

You’ve gotten whole freedom over which purchasers you wish to work with, which initiatives to simply accept, and the way you wish to deal with them. The period of time you wish to spend researching and writing is solely as much as you, as is how a lot cash you determine to cost on your work.

You even have management over your profession development. No extra inflexible employment hierarchy with another person dictating when or whether or not you get a promotion! Personally, I discover this stage of independence actually liberating and rewarding.

I’m a lot extra motivated figuring out that I’ve whole company over what I do and the place my profession takes me. It additionally permits for lots of non-public development and growth, as I’ll develop on under.

3. Numerous Initiatives

Some of the thrilling elements of being a contract author is the truth that you may work on no matter initiatives you need. Some freelance writers select to specialize and area of interest down greater than others. However, primarily, the selection is yours.

If you wish to tackle a various vary of initiatives and discover a number of completely different niches or industries, you may completely do this. Once more, you get to set the principles (therefore the autonomy, above)!

So, say you’ve at all times fancied dabbling in inventive fiction writing. However, you’re additionally keen on doing a little bit of journey writing and completely love writing persuasive advertising and marketing copy. As a contract author, you may select to do all of this stuff in the identical week, offered you handle your time properly.

You may develop your ability set and discover new matters as a lot as you need. This not solely helps to maintain issues attention-grabbing and difficult, but it surely additionally offers you the chance for steady studying and development.

4. Talent Improvement

Following on from the earlier level, selecting to work on a various vary of initiatives is, in my expertise, a sure-fire means of growing new expertise and broadening the vary of your experience.

For instance, as a contract author, you would possibly select to write a weblog put up for a web site sooner or later, craft social media posts for a model the subsequent, draft advertising and marketing emails the subsequent, after which assist write an e-book or white paper the subsequent… And so forth – you get the image.

Additionally, you may select to have a variety of purchasers throughout a broad spectrum of sectors (e.g. journey, advertising and marketing, monetary, enterprise, and so on.) which helps to make sure you’re continuously studying. Having a various vary of initiatives helps make you a extra versatile author with a broader set of expertise.

Moreover, freelancers usually should handle their very own admin and enterprise operations. For some folks, this can be a drawback of being a contract author. Nonetheless, you can see it as a chance to develop transferable expertise reminiscent of time administration, group, and monetary admin. See Additionally: finest apps for freelance writers

5. Work From Anyplace

One other large perk of being a contract author is the power to work from anyplace. I’ve gotten paid to do freelance writing from some wonderful locations everywhere in the world, together with after I was dwelling as a digital nomad in Mexico, Costa Rica, Albania, Italy, Sri Lanka, and even a distant nook of the Scottish Highlands.

Normally, your purchasers don’t care the place you’re, so long as you get the work performed to a sufficiently excessive normal. Once more, that is completely completely different from most employment relationships. (I actually hated being employed, in case you hadn’t figured.)

So long as you’ve got a secure web connection overseas and an influence outlet, you may mainly work from just about anyplace on the planet. That is enormous for anybody who loves touring and with the ability to do it for various weeks per yr of annual depart.

It’s additionally one of many explanation why freelance writing is such a standard job with digital nomads and different distant employees. In reality, that is the primary motive I selected to do it.

6. Networking Alternatives

Being a contract author can open up alternatives for networking with folks throughout a variety of sectors. When you select to work with a various unfold of purchasers, you’ll have the possibility to construct a wide-reaching internet {of professional} relationships.

That is clearly a good way to develop your skilled community. Connecting with fellow writers, editors, purchasers, and different professionals in varied niches can result in a wealth of recent job alternatives and but extra invaluable connections sooner or later.

Plus, having a robust community may also assist give you assist and assets that may be helpful sooner or later. It’s additionally a good way to construct your personal private model and get your title on the market.

7. Work-Life Stability

For my part, it’s a lot simpler to take care of a wholesome work-life stability as a freelancer than as an worker. I say “for my part” as a result of it’s a little bit of a contentious debate, and I’ve had discussions with different freelancers who disagree with me on this.

I’ve heard folks say that working for your self can provide you a worse work-life stability. In keeping with these folks, as a result of freelancing is inherently much less secure than employment, there’s a bent for freelancers to overwork to compensate for it. That is undoubtedly true to an extent.

Nonetheless, in my very own private expertise, it doesn’t should be the case. Whereas being self-employed does, after all, include its personal pressures, and requires appreciable self-discipline and arduous work, autonomy is essential.

The massive quantity of flexibility you acquire means that you could select the way you wish to construction your work life. So long as you’re capable of handle your time successfully, together with consciously permitting your self sufficient downtime, you’ve got the ability to engineer a tremendous work-life stability.

8. Artistic Freedom

Artistic freedom is a serious benefit of being a contract author. As a freelancer, you’ve got the chance to work on initiatives that actually curiosity and encourage you. And, conversely, there’s no one forcing you to do any initiatives that you just actually don’t wish to do.

Moreover, the elevated choices and management over your profession trajectory (mentioned above) means that you could select to concentrate on areas that offer you extra inventive expression if that is one thing that’s necessary to you.

When you select the best initiatives (and purchasers), you will get plenty of private success out of your work. It additionally permits you to select to jot down for publications or purchasers that align along with your private values and beliefs.

Cons of Being a Freelance Author

Whereas I actually take pleasure in freelance writing for the entire causes mentioned above, it’s not excellent. (No job is, proper?) There are undoubtedly a couple of downsides to being a contract author, which I’ve set out under.

I’m not attempting to place anybody off right here from turning into a contract author. I simply need you to enter it along with your eyes open, having made an knowledgeable resolution. That stated, not all of those points will have an effect on each freelance author, however I’d nonetheless suggest contemplating the next.

1. Unpredictable Revenue

For me, one of many best disadvantages of being a contract author is the shortage of monetary stability. As an worker, you usually receives a commission each month, on the identical day, typically the identical quantity. This makes it simpler to plan financially as you’ve got a predictable earnings.

As a contract author, it’s the alternative. Your earnings can differ drastically from month to month, and never all purchasers pay on time. Some months you would possibly earn extra, some months you would possibly earn much less. When you don’t get any work, you don’t receives a commission in any respect.

This lack of monetary predictability might be tough to handle. It’s necessary to have a buffer of money in your account if attainable so that you just’re not left in a precarious monetary scenario in case you have a quiet month or, for some other motive, your earnings drops off.

2. Requires Self-Self-discipline

Freelance writing requires a substantial quantity of self-discipline. Since you work for your self, it is advisable be your personal boss. This implies setting deadlines and targets for your self, being organized along with your time, and making certain you retain your self on monitor.

It’s necessary to have the ability to stability the workload of a number of initiatives, whereas on the identical time maintaining along with your different duties and common life admin. Talking frankly, this was a little bit of a problem for me after I first began working for myself.

Typically I additionally discover that working alone for lengthy durations of time could make it tougher to remain motivated, given the shortage of colleagues and coworkers to provide assist or recommendation.

Finally, you want to have the ability to inspire your self to work arduous and write creatively, even on days if you don’t actually really feel prefer it. It’s additionally necessary to have the ability to stability work with rest to assist keep away from burnout.

3. Probably Isolating

Being a contract author might be isolating at instances, particularly in the event you work remotely by your self.

Earlier than turning into a contract author, I used to work in an workplace in London. Whereas I actually didn’t benefit from the workplace politics and performative tradition, there was at the very least at all times any person to go for a espresso with, or to cease by and have a chat.

Now I work for myself, I discover myself needing to make extra of a aware effort to socialize with different folks. It’s not an excessive amount of of an issue for me, however it’s one thing to consider.

Whether or not or not this is a matter for you relies upon, partly, in your character – together with how introverted or extroverted you’re, and the way a lot you wish to socialize typically. Working from coworking areas will also be a great way to get a dose of social interplay and fight emotions of isolation.

4. Lack of Job Safety

This one ties in with the purpose about unpredictable earnings. Most often, being a contract author doesn’t supply the identical job safety {that a} conventional 9-5 job does.

Most nations all over the world have authorized protections in place that provide workers a level of job safety. These differ from nation to nation (they’re significantly sturdy in Europe in contrast with the US). Nonetheless, the important thing level right here is that these protections principally apply to workers solely.

As a freelancer, employment regulation protections usually don’t apply to you. If considered one of your common purchasers out of the blue stops needing your companies or their enterprise goes beneath, that’s too unhealthy for you – you’ll want to exchange that earnings from elsewhere.

This lack of stability might be robust, particularly in case you have monetary commitments reminiscent of lease, a mortgage, payments, or childcare prices to pay. It’s additionally why I’d at all times suggest having a number of completely different purchasers to diversify your earnings streams and shield your self from sudden adjustments.

5. No Worker Advantages

Workers usually obtain advantages reminiscent of medical insurance, paid time without work, and retirement contributions from their employer. Sadly, these perks are usually not usually accessible to freelance writers. That’s the value you pay for all that freedom!

Which means you’ll must cowl these bills your self, which might be pricey. Medical insurance, specifically, is usually a enormous expense for freelancers, particularly in nations the place healthcare isn’t free. It’s necessary that you just finances for these extra prices.

And, whereas that is undoubtedly not monetary recommendation, it’s extraordinarily necessary to have monetary provisions on your retirement. In any other case, previous age goes to suck – severely.

6. Having Too Few (or Too Many) Shoppers

One other main con of being a contract author is needing to strike a stability between the variety of purchasers you’ve got at one time. As mentioned above, as a freelancer, you’re usually not assured a gradual stream of labor, and it’s frequent on your earnings to fluctuate significantly.

Some folks select to attempt to fight this by doing a lot of work for one or two purchasers. Nonetheless, what occurs if considered one of these purchasers out of the blue stops providing you with work or goes out of enterprise? Dangerous issues, so far as your funds are involved.

So, as we agreed above, it’s necessary to diversify your earnings streams. Nonetheless, working for plenty of completely different purchasers comes with its personal challenges, together with managing competing deadlines, expectations, and usually larger ranges of admin and problem.

It’s a difficult one and requires you to strike a superb stability, which isn’t at all times straightforward. In reality, that is one thing that I typically discover most difficult about working as a contract author.

7. Extra Admin

As a self-employed freelance author, you usually should deal with extra admin than an worker. This contains duties reminiscent of consumer outreach, invoicing, organising and paying right into a pension, conserving monitor of your bills, and managing your personal taxes.

Freelancers are often paid gross with none deduction for tax, so it is advisable be certain that you retain ample data to allow you to file your tax return every year. You additionally want to make sure that you really manage to pay for to pay your tax invoice at any time when it falls due – don’t make that mistake!

These admin duties require you to be pretty organized. They will also be time-consuming and, for many individuals, a bit overwhelming. However it’s essential that you just carry on high of them to maintain your online business working easily and forestall additional complications down the road.

Execs and Cons of Freelance Writing: FAQ’s

Listed below are solutions to some continuously requested questions concerning the ups and downs of being a contract author.

Conclusion

When you’re eager about being a contract author, it’s necessary to assume severely about whether or not it’s a profession that’s appropriate for you. There are numerous professionals and cons of being a contract author, which differ from individual to individual and job to job. You must weigh up whether or not the professionals outweigh the cons.

For me, the advantages of freelance writing tremendously outnumber the disadvantages. However, after all, everyone’s completely different. Both means, I hope this put up helped make your resolution just a little bit simpler.