The Pros and Cons of Freelancing

Freelancing is a popular career option for majority of workforce throughout the world. It provides the flexibility of work hours and location of work. On the other hand, it also requires the same concentration and commitment which a regular job demands. Payment and delivery terms must be made clear ahead of time to avoid confusion. Large commute times can be avoided through freelancing but getting the dispersed team work together is a real challenge.

Advantages

Freelancing is popular in the workforce as it provides an opportunity at working at once own pace and timings. Pregnant or nursing mothers, people  recovering from injury, family emergencies, long commute are some of the situations in which people opt for freelancing. Getting the project requirements, understanding work, and completing the task happens mostly through telecommunication or through internet. Emails, cloud computing, servers, and other sources have reduced the burden of exchanging documents.

Freelancing supports self-employment and entrepreneurship and has proven to be a key growth factor to many. Freelancers can work within their own terms and times. They have to meet the requirements and deadlines based on which the payment may be made. Long commute and unnecessary disturbances associated with a regular job can be avoided altogether.

Disadvantages

The main disadvantages of freelancing are meeting the deadlines and getting the payment. Most freelancers lose track of the deadlines and requirements as they work on their own and lack a team support and learning. Sometimes the team members may not be able to work together due to the different timings and distances. The freelancer may sometimes lack the motivation and energy to complete the work in time. Quality aspects are also a major setback in freelancing.

Payment is another challenge in freelancing. While correct bank documents are required for remote money transfer, which many may not possess. The client may feel to hold back some amount of money due to quality issues or any future issues. Freelancers sometimes are easily duped and deprived of payment. Their work would be taken and they would never get paid back. Following the old client may be better payment wise, but if a freelancer wants to take up new assignments, he may have to think twice about the money.

Tips

A freelancer may follow the following best practices to gain more:

  1. Get clarity on requirements
  2. Talk the payment terms
  3. Negotiate for a part payment before the project begins
  4. Understand the quality requirements
  5. Deliver on time
  6. Review the work
  7. Follow up for feedback and payment
  8. Keep the existing clients while taking up new projects
  9. Follow strict timings for working
  10. Communicate any delays or challenges in work

Freelancing is a great way to utilize time and generate revenue, but in deed requires lot of commitment and patience to really pay off. 🙂

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