While we would not recommend quitting your job without having some freelancing experience, there are some who choose this route. If you are thinking about this path it is essential that you have savings equivalent to your cost of living for at least three months. There may be some who come to freelancing young and are still supported by their parents, or those who are coming to freelancing after leaving their job to care for their family.
Launching a full-time freelancing career without prior experience is a risky move, so we must reiterate that you must have savings equivalent to your cost of living for at least three months, have outside financial support or an established means of passive income. Here are some of the benefits of immediate full-time freelancing:
• You don’t need to ‘switch gears’
It can be challenging to shift your mindset from a job to freelance work, especially when you’re trying to do both at once. Full-time freelancing not only allows more energy to be devoted to building your business, but will help you stay entirely focused on your goal.
• You don’t need to give up your free time
For some, giving up weekends and evenings to freelance work is just impossible. Some need time to recharge and give time to hobbies, or spend quality time with their families, spouse or friends. Happily, full-time freelancers won’t need to give up so much of their downtime to build their business. Chances are you’ll still have the occasional weekend or evening panic while you find your stride, but this should be far rarer than for those juggling freelance projects while working.
• You will be available during office hours
Being available 9 to 5, five days a week will give you an edge when beginning your freelancing career. You can complete tight deadlines and have meetings during office hours which clients will appreciate.
Disadvantages
• You may experience a culture shock
Working alone is a surprising challenge for most new freelancers. Many experience loneliness or find is challenging to get anything done without an authority figure watching over them. There is the inevitable temptation to watch television or even tidy the house. It will take a special type of discipline to work nine to five at home – something that develops over time.
• You will be at a larger financial risk
For those relying on savings alone there is the pressure to succeed before cash reserves run out. This can work as a great incentive, but can also cause a great deal of stress and sometimes desperation. Plan what actions you will take if cash flow is a problem before you take the leap.
Launching a full-time freelancing career without prior experience is a risky move, so we must reiterate that you must have savings equivalent to your cost of living for at least three months, have outside financial support or an established means of passive income. Here are some of the benefits of immediate full-time freelancing:
• You don’t need to ‘switch gears’
It can be challenging to shift your mindset from a job to freelance work, especially when you’re trying to do both at once. Full-time freelancing not only allows more energy to be devoted to building your business, but will help you stay entirely focused on your goal.
• You don’t need to give up your free time
For some, giving up weekends and evenings to freelance work is just impossible. Some need time to recharge and give time to hobbies, or spend quality time with their families, spouse or friends. Happily, full-time freelancers won’t need to give up so much of their downtime to build their business. Chances are you’ll still have the occasional weekend or evening panic while you find your stride, but this should be far rarer than for those juggling freelance projects while working.
• You will be available during office hours
Being available 9 to 5, five days a week will give you an edge when beginning your freelancing career. You can complete tight deadlines and have meetings during office hours which clients will appreciate.
Disadvantages
• You may experience a culture shock
Working alone is a surprising challenge for most new freelancers. Many experience loneliness or find is challenging to get anything done without an authority figure watching over them. There is the inevitable temptation to watch television or even tidy the house. It will take a special type of discipline to work nine to five at home – something that develops over time.
• You will be at a larger financial risk
For those relying on savings alone there is the pressure to succeed before cash reserves run out. This can work as a great incentive, but can also cause a great deal of stress and sometimes desperation. Plan what actions you will take if cash flow is a problem before you take the leap.
