Common Misconceptions of Freelancing

Common Misconceptions of Freelancing

Do you work for a company who hires freelancers or consultants? Or are you one yourself? Welcome to the ever-growing gig-economy. According to a 2015 Intuit research study, the gig economy is expected to grow to 43% of the workforce by 2020. This staggering number of freelancers is shocking yet understandable.

The trend of professionals choosing to branch off on their own and lend their expertise through different channels is growing exponentially. For many decades, the safe and desired route for many was to gain employment through an accomplished company and stay with them until retirement. Today, the shift seems to go in the opposite direction.

Why is this?

Some choose to freelance part-time for extra income, while others decide to leave their full-time jobs to focus solely on freelancing. And although many professionals are taking the jump, there are still many who question the validity and the safety of becoming a full-fledged freelancer. Going for a full-time position means there are no more benefits traditionally offered by a company. Instead, there are many other benefits to be realized aside from these – quality of life is the first thing that comes to mind.

Hundreds of thousands of people are choosing this route for their professional careers each year, but how about you? Not sold on the gig-economy yet? We compiled a list of the most common misconceptions we hear about freelancing and explain why they are simply not true. Check them out:

Freelancing is boring

Actually, freelancing can be quite fun. Why? Well, most of the time, freelancers will choose the clients that they want to work with. Clients can range from size, location, project, personnel, etc. Ask 20 freelancers what their day is like, and you’ll receive 20 different responses. As mentioned in our previous article and infographic on freelancing, new freelance resources and freelance projects have increased in huge numbers over no more than 3 years.

The attraction to freelancing is the ability to create a schedule that is flexible and freeing and avoiding a monotonous workweek. The ability to work on multiple and differing projects at any given time keeps workers excited and on their toes.

Freelancers don’t need to learn new skills

Actually, this one is very untrue. Freelancers must continuously develop their skills to stay competitive, often taking online courses and seminars to enhance their abilities further.

Online learning platforms like Zeqr, the knowledge-sharing hub, and, are the perfect stages for freelancers to develop their own skill set and stay on top of their game, so to speak. It is important for freelancers to not only perfect their craft but also to understand the industry in which their clients operate. This simple technique of gaining knowledge will ensure that freelancers remain informed and educated.

Freelancers can also take advantage of these online learning platforms to connect with mentors who can guide and direct a freelancer who is just starting out. There are many things that freelancers have to take care of on their own such as marketing, billing, and other accounting services.

Freelancers are lazy

Actually, quite the contrary.  Freelancers are essentially building a small company and operating as one. The amount of work that must happen for the shop to run is sometimes a massive amount, depending on the industry.

Along with self-motivation, freelancers must possess an entrepreneur-like attitude and work ethic to be successful. Freelancers are their own boss and have to answer to themselves and their client when it comes to accountability. Unlike regular employees, freelancers must take care of every part of their business to ensure success.

Freelancers live from paycheck to paycheck

Maybe. But this can be said about any profession. In reality, freelancers usually have many contracts/clients in place will give them a more reliable form of payment versus depending on one client for payment.

The right candidate for freelancer work is one who knows their monthly income and is able to ensure that they have budgeted all expenses. For first-time freelancers, consulting with an accounting expert is necessary to learn how to deal with things like taxes, budgets, etc. A perfect online class for this is Lisa Newton’s Budgeting Masterclass, in which she discusses ways in which self-employed and business owners can create a budget and stick to it.

Freelancers make less/more money than full-time employees

The truth is that freelancers can choose to make as much or as little money as they would like to make. The option to pick up or drop clients is accompanied by the liberty to work as hard, or as little as one needs to for financial freedom they desire.

Contrary to full-time employees, there isn’t one form of payment for freelancers to wait for but rather different streams of income. The amount of money paid to the freelancer depends on experience, market and industry, therefore, it is unfair to make assumptions on the earnings of freelancers.

Freelancers don’t get satisfaction from their jobs

Research shows that most freelancers actually love their work. Satisfaction is heightened by the fact that freelancers can create the job and schedule that they desire. Quality of work and quality of life are two factors that drive most influencers to enjoy their setup and get satisfaction from their work life as compared to full-time employees from traditional companies.

Understandably, freelancing is not for everyone. There are many great-paying, satisfying positions in well-known and start-up firms that are worthwhile. But for those that are curious about freelancing, we invite you to consider joining the Zeqr platform to begin sharing your knowledge. Go ahead, sign up as an Xpert for free and start sharing your expertise and knowledge today!

Your friends at Zeqr

February 15th, 2018 by

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