Now a day, people have some ideas related to freelancing and know how this works but when we talk about 15 or 18 years later, people don’t know how this works and how we get money from freelancing. At this time in 2020, All around the world people doing freelancing and make money online easily, especially during COVID-19 when the whole world is a block and people are fired from their jobs and small even large business are shut down. People start doing freelancing or selling their products online and start making revenue from online freelancing. Freelancing having both aspects pros and cons but as compare local market business or job this is very useful and helpful for a new generation even old generation.
In Pakistan, Hisham Sarwar a seasoned freelancer has always been known to be an independent thinker and a risk-taker, proving his vision time and again.
Hisham`s determination, relentless energy, motivation, and adaptability have proved him as a true leader. His contribution towards humanitarian causes and respect towards individuals has been exemplary.
Hisham Sarwar has also initiated a lot of projects like https://rozgarpakistan.com/, http://www.beingguru.com/, http://truedrops.com/to name a few. Hisham is a tech social entrepreneur by heart who wants to give back to the community.
There are some pros:
- Compensation:
Freelancers make 45% more money than a job holder. Freelance earnings are higher than non-freelance Earnings in most countries. According to an estimate, 75% of the Remote Workers Earn around $65,000 per year. There are three ways of earning among the freelancers, where only 49% of the Freelancers earn $20-$59 per hour. The second type of freelancer is 21% which earned money 70$ or more per hour. These people are highly skilled resourced 3d modeling, Laravel web developer, e-commerce, search engine optimization, digital marketing, creative writing, CAD cam engineering, etc. third and the last type of freelancer is 15%which make 100% or more per hour named as high class.
- Work-life balance:
After compensations, work-life balance is another important perk of a Freelance career. It makes you free from the hassles of a job and you can take a break whenever you want. According to some recent survey report, only 29% of the American freelancers work 40+ hours a week. 15%of the freelancers work part-time with no job, and 5.7% of the freelancers are part-time with their regular job. Only 25% of the freelancers actually enjoy the perks of freelancing, while others have not yet explored the freedom and perks of Freelancing.
- Location:
You need good skills, passion for work, good internet speed, and a laptop/computer to become a successful freelancer. You are free to work from anywhere with good internet speed. If you are passionate about work, then location becomes a number. If you are a freelancer, you are not bound to work at any time or from any location. Most of the freelancers work on contract-based projects. Such freelancers are estimated to increase up to 30-50% in the coming years. In the upcoming years, an employee will not be restricted to work from a specific location because the trends of remote working are increasing. All you need a good internet connection and a computer or laptop.
- Optimism:
Optimism means hopefulness and confidence about the future or success of something. We have to be optimistic to become fearless. Freelancing is the second name of freedom, which helps you in being your own boss and improving your lifestyle. Around 79%of freelancers are happy with the freelancing career as compared to their previous jobs. 85%of the freelancers are optimistic about business in the upcoming years, which is really a high ratio of satisfaction. It is only freelancing which could provide you with the ease to work at any time and spend time with your family, enjoy social life and travel. The instructor was determined to become a good freelancer and to provide job opportunities to others.
He worked hard for his aim and fulfilled his dream. Fear is of two types:
1. Forget everything and run away (when you are underestimating yourself).
2. Face everything and rise (standing against your fear).
- Recession-Proof:
Being a freelancer, nothing will affect you, because you are your own boss not even the economic crisis of the country. The term layoff means that when you are an employee of a company and due to the recession (economic crisis) you are fired from the job. The instructor made a decision that he will never do a job again and started working as a freelancer due to these downsizing issues. He got out of his fear and comfort zone. He realized that in a company the owner will never care about you, your life, and your problems and realize your need for money. He will just care about his business. According to the statistics, 49% of the freelancers are not affected by the ups and downs of economic conditions. All you need is a passion for work and determination. Many freelancers from the Middle East are working under political, economic, and financial instability. Even many of the freelancers are working from Indian Occupied Kashmir. The economic, financial, and political crisis can never affect the freelancer's performance if he is passionate to work with devotion”.
- Entrepreneurs of the future:
You can become an entrepreneur in the future. An entrepreneur is the one, who identifies the problem in the surroundings and brings a solution for it. It could be a service, product, or business initiative. To initiate any business, an investment is required. A freelancer can invest his money to step into the entrepreneurial shoes. Today’s freelancer is an entrepreneur of tomorrow, who will earn money by providing the solution in the form of a service/product or business. According to a precise estimation, 71.7%of freelancers think of them as an entrepreneur because they are trained enough to work or to sell a product/service by themselves. They can also manage their financial issues. With these qualities, you can be an entrepreneur of tomorrow because these are the parameters of entrepreneurship. Money is required by an entrepreneur but to start freelancing you do not need any money. So, to fill your entrepreneurial shoes for tomorrow, start saving today.
Cons of freelancing
- Pessimism:
Where freelancing has various advantages, it also has some disadvantages. Mostly, we face disadvantages when we do mistakes. It mostly happens when we make some major blunder. Only 21% of the freelancers claim that they were less happy with freelancing in comparison with the traditional jobs. It is all because they were unable to manage themselves according to the freelancing lifestyle, or they might like 9:00 am to 5:00 pm, fixed-job timings being the victim of barrier in their mind. Freelancing promotes prosperity and self-independence. Pessimism is not a disadvantage. Instead, it is the lack of interest and negligence. The 21%of freelancers who were pessimistic couldn’t scarify their temporary freedom against the benefits of freelancing. They could not adjust to their routine of freelancing.
- The profession of freelancing may not prove to be a veritable paradise:
One must not be afraid of Freelancing. Cons occur only due to the unable of a freelancer to manage the workload and routine. Freelancing is not easy and simple. According to a blog’s statistics, 8% of the freelancers find themselves connect to the highest paying clients. 16% of the freelancers believe that freelancing platforms clients mostly prefer females over males. Only 8% of the freelancers find it hard to maintain their work-life balance by working as a freelancer. This 8% of freelancers are working with the wrong strategies, for example, they keep working on a single freelancing platform rather than trying on multiple platforms. If the freelancer is working on Fiverr, wants to target a client with a 5 lacs amount, he is absolutely wrong.
- Low Productivity:
Cons of freelancing, third topic "Low productivity" will be discussing 7% of the freelancer complain that working from home causes low work productivity. It means that the freelancer becomes unmanaged and no communication with friends. His/her social interaction gets very limited. Most of the time the problem is with the person himself/herself. A freelancer should manage his/her work routine. Along with these go top vacation and time routine. As a freelancer, you are your own boss and you have to manage your routines.
- Better Reward:
Most of the drawbacks of freelancing are proven wrong by the freelancers as the majority of them are enjoying good health and are very interactive in their social life. According to some statistics, around 4.4% of the freelancers get clients who do not pay well for their work, which discourages the remote workers. Freelancers keep looking for high paying clients. The possible reasons due to which 4.4% are saying that they do not get the better reward for their work, are as
follows:
• There are beginners and are expecting too much. (If you have just started freelancing, and
you want to become rich overnight. It’s impossible.)
• They are not organized.
• They do not work on themselves.
In short, be systematic and organized to get better rewards and remember that money is only the byproduct of success.
- No Health Security:
In foreign countries, an employee gets health insurance, but if a person is working as a freelancer, he does not get any such benefit. According to a survey, freelancers are not given any health security. That 4.4% of the freelancers think that no health insurance is a drawback when it comes to a freelancing career. The cons are mentioned by the people who are non-organized, mismanagement or overloaded with their work. Let’s take an example that an employee is awarded a fixed salary of $2000 but whereas in freelancing a freelancer can earn up to $20,000. It’s almost equal to the ten months’ salary of an employee. So, in this huge amount, a freelancer can manage his/her health concerns. Money is very important in everyone’s life. If you have the money you can do charity as well. To earn money, you have to work hard and prove your skills. Overcome your fears by breaking your mental barriers and prove that you are the best in your field. So rise above your fear, competitions, haters, and rise above your own expectations. Those people are very lucky whose passion is their job.
- Stability:
Cons of freelancing, sixth topic "Stability" will be discussed, there are a large number of freelancers who have not to succeed in their goals by freelancing. These people more prefer a job over freelancing. According to some metadata, stability in the freelancing field is still a question among 21% of the freelancers. They admit that their traditional jobs provide them better stability as compared with freelancing. According to them, the traditional job is a way of earning stability, even though you are accountable to your employer, have to listen to him, and also cannot do work of your own interest.
These employees are desperate only based on their fears and disappointments. All of their claims are totally wrong, but if a freelancer is organized or will manage he/she will never face this issue. There is a cycle of three components:
1) Sales
2) Work
3) Income
When a freelancer gets a project at the beginning of the month and the completion date is the 15th of the same month, he should again bid on the projects during these days, so the cycle never breaks.
- Economic Ups and Downs:
The drawbacks of freelancing, now we will be discussing the effect of economic ups and downs of the country on a freelancer. According to metadata, approximately 50.7% of the freelancers say that the economic situation does affect the freelancers although indirectly. A Freelancer is not affected by the economics of a country rather the freelancer is effected by the following four aspects:
• Portfolio
• Skill
• Business Development
• Communication
So, a freelancer must focus on the given aspects because it directly affects the freelancer. A freelancer is not awarded or by the country's situations rather it is affected by the performance and work.
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