What is Freelancing?

Freelancing is the Future.

The pandemic has shown us that we can no longer rely on the traditional employment models. Companies have been forced to lay off employees, and many people are now working from home. The time has never been better for freelancers.

There are many benefits to freelancing. You can work from anywhere, you have more control over your hours, and you can choose the projects you want to work on.

Read on to learn more about the benefits of freelancing and how you can get started today.

Chapter 1

What is Freelancing?

Freelancing is when you work for yourself instead of for someone else.

Freelancing is a great way to start your own business. You provide a specific service or outcome, and the buyer pays you a fee directly. It’s simple and straightforward.

Freelancers are self-employed and are often called independent contractors. They work for other companies or people on a part-time or short-term basis, but they don’t have the same commitment to any particular company or receive the same compensation as full-time employees.

Freelancers also refer to themselves as "self-employed", and freelancing is also called contract work,  contract job, independent contract, etc.

The [first literary reference of the word freelance] is found in Sir Ivan Scott’s novel, Ivanhoe:

"I offered Richard the service of my Free Lances, and he refused them—I will lead them to Hull, seize on shipping, and embark for Flanders; thanks to the bustling times, a man of action will always find employment".

Chapter 2

How does Freelancing Work?

Freelancing can be a great way to get started professionally in your career, make some extra money, or transition to a new career. It can also be a great way to work from home and set your own working hours.

However, did you wonder how anyone can sustain without a regular job?

Actually, it's pretty simple. They can! It's because people who have a special set of skills are in higher demand in 2022 than ever before. But, freelancing can also be confusing and frustrating if you don't know what you're doing.

First, you need to understand the different types of freelancing. There are three types: contract work, project work, and temporary work:

• Contract work is usually long-term and involves working for one company on a long-term basis.
• Project work is usually shorter-term and involves working with a company in a particular operation
• And temporary work is to fill vacant roles or help employers during busy periods.

So, a freelancer can be hired for a specific project, service, or task by the client (or conventionally the employer).

Companies usually need and hire freelancers in order to:

• Complete projects faster
• Reduce costs
• Increase the transparency in the process
• Access skills are not available to them.

Chapter 3

Advantages of Being a Freelancer

Freelancing is when you work for yourself instead of for someone else.

Freelancing is a great way to start your own business. You provide a specific service or outcome, and the buyer pays you a fee directly. It’s simple and straightforward.

Staggering freelance statistics reveal how fast this industry is growing. This owes to an entirely different life(work)style that freelancing offers.

There are some irresistible advantages of freelancing that make it so popular. A few of them are:

You Work at Your Convenience

The biggest advantage of freelancing is that it sets you free of the time, situation, place, and pay.

42% of freelancers claim that this lifestyle offers them the necessary flexibility that they need to balance their personal and professional life. Source

Choosing Whom to Work With

Irritating client? A pushy employer? A narcissist boss? Nosy co-worker? Freelancing gives pretty much freedom to all.

Multiple Sources of Money

One of the best things about freelancing is that you can have multiple sources of income. This gives you more security and also allows you to be more selective about the projects you take on.

There are a number of different ways to create multiple sources of income as a freelancer. You could, for example, offer services such as Consulting, Writing, Designing, or Editing. You could also sell products such as e-books, templates, or artworks.

Alternatively, you could offer your services through online marketplaces such as Upwork or Fiverr.

Permanent Work-From-Home

If you've been loving the work-from-home lifestyle, you can make it a permanent change.

So, neither you've to worry about the traffic, your attire, or fixed timings. And you can get your work, all from the comfort of your home!

Global Exposure

Perhaps, the most vibrant aspect of freelancing is that you get to meet with people from lots of different cultures. And thus you become more open to ideas, grow more empathetic, and feel easier to deal with.

Instant Growth

When you work for your employer, your company grows; but when you work as a freelancer, You grow, and thus establish yourself as a brand.

There are no limits to where you can reach while freelancing. Therefore you're the sailor of the ship of your career.

Direct Outcomes

It implies that the more you work hard, the more profit you get.

There is a direct relationship of working hard and the weight of your wallet. Results here are pretty much instant, visible and hence, desirable.

Conscious Lifestyle

The freelance lifestyle is liberating. You can easily strike out the work-life balance while freelancing.

You might be able to work four-hour workweeks while enjoying more family time or freedom to travel.

Chapter 4

Type of freelancer works

Freelancing is when you work for yourself instead of for someone else.

Freelancing is a great way to start your own business. You provide a specific service or outcome, and the buyer pays you a fee directly. It’s simple and straightforward.

Perhaps you can get freelancing work in most industries.

If you’re wondering what skills are needed for freelancing- you need to take just one skill and master it to perfection.

Following are the prominent areas in which you can earn good money as a freelancer.

Chapter 5

How much can I earn as a freelancer?

There is no universal rule of thumb or guidance to follow; a quick look at any freelance marketplace reveals that any given skill set can cost anywhere between $1 and $100 per hour. Professional experience, education, geographic region, and the demand for the specific field can all influence rates.

Freelancers definitely earn more than average workers.

However, your precise pay depends on your field of work. amount of experience, skills and the portfolio.

Here are the skill-wise average earnings of the freelancers:

• Writers: Freelance writers earn an average of around $42,000 per year, with a wage rate of $30-40 per hour.
• Editors: The average salary of freelance editors is approximately $40,000. They usually earn between $25-35/hr.
• Programmers: On average, a freelance programmer makes $60-70 an hour across multiple languages and earns around $120,000 annually.
• Mobile developers: Developers of mobile apps earn an average hourly rate of $55 to $65 with a salary of $100,000 per year.
• Web developers: An individual web developer earns approximately $90,000 a year designing and building websites as a freelancer.
• Graphic designers: An independent visual designer earns $40-45 per hour, which equates to about $90,000 annually.
• Transcribers: Transcriptionists earn about $28-32K per year as freelancers, with an average hourly wage of $20-25.
• Bookkeepers: Bookkeepers make between $30 and $35 per hour, and can earn around $40,000 per year.
• Online marketers: Digital marketers make about $50,000 a year as freelancers and are paid $50 per hour.
• Photographers: Photographers earn an average of $42,000 per year, with an hourly rate of $35-45/hr.
• CRM managers: Customer Relations Managerss (CRMs) can expect to earn between $50-60/hr, with an annual salary of around $120,000.
• Data analysts: On average, freelance data analysts earn $55-65 per hour and earn $100,000 annually.

Below is the picture which depicts how much freelancers are earning per hour.

Chapter 6

How to Become a Freelancer with No Experience?

It might be difficult to get your first freelancing job. It is, however, a relatable one. Many businesses are wary about hiring someone who is truly environmentally conscious. They would want to hire someone who has a track record of achievement.

So, how do you go about getting things done? Even if you're new to the game, how do you get your first freelancing clients and start making money?

You may become a great freelancer if you follow these steps:

Choose/Decide a Niche

As a freelancer, it is important to choose a niche.

It can be difficult to be successful if you try to be a jack of all trades. When you specialize in a certain area, you become an expert in that area. Potential clients will then know that they can come to you for help with that specific topic.

It is also important to decide what services you will offer as a freelancer. Will you write articles, do design work, or offer social media marketing? When you are clear about the services you offer, it becomes easier to market yourself to potential clients.

Get Clear About Your Services

In order to make the most of your freelancing career, you should be clear about the services you will provide.

There are many different types of freelance work that you can offer. You could provide services such as Web Development, Design, Writing, or Marketing. You could also specialize in a particular area, such as Social Media Marketing or SEO.

It is important to be clear about the services you offer and the type of work you are good at. This will help you to attract the right pool of clients.

Create a High-Quality Portfolio Site

As a freelancer, your portfolio website is one of the most important pieces that represent your business. It’s the first thing potential clients will look at to decide if they want to work with you. So it’s important to make sure your site looks professional and showcases your best work.

Your portfolio should be easy to navigate and include examples of your best work. You should also include a brief bio, contact information, and links to your social media profiles.

Make sure your portfolio is up-to-date and reflects your current skills and experience. If you’re not sure where to start, there are a plenty of online resources to help build a great portfolio.

Set your Prices

Setting prices is the most crucial part of freelancing. Your price should justify your hard work, the skills you have, and the experience which you've acquired.

Make prices competitive enough- not too high, and neither too low. And if you're still unsure, just charge at the average market rates.

Network within Industry

This is perhaps the easiest way to get higher quality and better paying clients. Start connecting with your friends, co-workers, or acquaintances within your industry.

Their recommendations and referrals would possibly earn you great clients, faster and easier.

Chapter 7

How to Find Freelance Work?

Getting steady freelance work is difficult, but if you follow a certain method, have the correct mentality, and do the appropriate activities, you will succeed.

Establish at least two that function effectively. "Don't put all your eggs in one basket," to put it another way.

There are numerous ways through which you can find freelancing work.

• Join a Freelancing Platform: Upwork, Fiverr, Freelancer.com, Behance, PeoplePerHour, etc
• Write for a Blog: Listverse, Cracked.com, Tuts+, etc
• Join a Freelance Agency
• Leverage LinkedIn
• Look through Niche Job Boards: Remote.com, We Work Remotely, Freelance Writing Gigs, etc
• Use Twitter Advanced Search
• Peep at Job Forums: SimplyHired, Digital Webbing, etc
• Pitch through Cold Emails: Visit a website of a startup company or a small business, go to their contact page, and write them a simple email explaining how you can help them.

Chapter 8

What are the Risks of Freelancing?

There is no universal rule of thumb or guidance to follow; a quick look at any freelance marketplace reveals that any given skill set can cost anywhere between $1 and $100 per hour. Professional experience, education, geographic region, and the demand for the specific field can all influence rates.

Freelancing isn't all sunshine and roses. It comes up with it’s own challenges and obstacles. You may consider the following common risks associated with freelancing-

Extra Benefits

You are on your own. Freelancers are free. You are responsible for paying your own taxes, health insurance, retirement benefits, provident fund, pension and other perks. As a freelancer, you don't enjoy the same perks as a full-time employee

Community

You might miss the community and office culture.

Health

Also, since there is no time limitation, freelancers often push themselves beyond limits, resulting in developing health risks.

Disputes

No support if you have disputes/disagreements with the clients.

Delayed/Irregular Payments:

A client may pay you in advance, weekly, fortnightly, or monthly. Or he/she may delay it even after several follow-ups. This is a common inconvenience in freelancing.

Summing Up

Freelancing can be a great way to make some extra money or to transition into a new career. More companies are hiring freelancers than ever before.

Although freelancing comes with a unique set of challenges, more people are switching to it in 2022.

Therefore, it depends on your priorities if you want to opt for a freelancing career.

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