5 disadvantages of working as a freelancer
Its been almost a year since I started working as a full time freelancer. I have done a lot of new and exciting things in this period and this has been the most challenging phase too. Working as a full time freelancer has its own advantages and disadvantages. While I worte about the advantages here, its time I wirte about the flip side too.
1. Uncertain income
Working as a freelancer is like running a business. A business can do very well for some time and might run into losses other times. Similarly, as a freelancer you will make money (may be lots of money) some time and other times you will have zero income.
2. High stress levels
As a full time freelancer you’ll be doing more than just couple of tasks. You’ll need to think about current work, finding new work, invoiving, time tracking etc. Doing everything on your own will certainly increase your stress levels.
3. Admin tasks
As a freelancer you’ll need to give time to admin tasks as well. While invoicing, time tracking, emails can be procrastinated for a while but one has to ultimately complete them. There is no escape from these tasks.
4. Fierce competition
There are thousands of freelancers like you out there. Some are better and others are more experienced. Finding good and challenging work can sometimes be really difficult.
5. No supervisor
Not having someone manage you can be good sometimes but it can also be really bad the other times. As a fulltime freelancer you’ll be your own task master and will have to come up with solution for ‘I’ll do it later’ or ‘Don’t feel like doing it’ feelings.