What exactly are Freelance Jobs? A Freelance Guide

 What exactly are Freelance Jobs? A Freelance Guide

Freelancing can be a great way to be your own boss, try out a new career, or have a side hustle that focuses on your passion project. And, if you decide to work as a freelancer, you will not be alone.

According to an MBO Partners survey conducted in 2019, nearly 41.1 million Americans identified themselves as freelancers, whether for a few hours per month or on a full-time basis. To be more specific, nearly 15 million workers claimed to be part-time freelancers, while 12.4 million claimed to be full-time freelancers!

With these kinds of numbers, it's critical to prepare for and perform well as a freelancer. Use this guide to learn about freelancing, how to find companies and jobs that are hiring, and the qualities required to succeed as a freelancer.

The Complete Freelance Success Guide

What Exactly Is Freelancing? A Fundamental Definition

A freelance job is one in which a person works for oneself rather than for a corporation. While freelancers work for corporations and organizations on a contract basis, they are ultimately self-employed.

Freelancers are responsible for a variety of tasks that typical workers are not, such as scheduling work hours, tracking time spent on various projects, billing clients, and paying their own employment and company taxes. Companies that hire freelancers refer to them as "contractors" rather than "employees."

Different Terms about "Freelance Jobs"

There are several terms to be aware of when looking for freelancing work. These can help you locate freelance employment openings and can also be used to describe yourself and your work to potential clients.

Contract work: Jobs in which you are a contract employee rather than a permanent employee.

Contract work: The same as a contract job.

Independent contractor: Similar to freelancer, except your job terms are outlined in a contract with another firm or individual.

1099: Refers to the IRS form 1099-MISC that an independent contractor fills out, and is frequently used to characterize the employment (“This is a 1099 contract role”).

Contract consultant: A person engaged for short-term consultations on specific difficulties inside a firm.

The Most Popular Freelance Career Fields

Freelancers are employed by a wide range of businesses, organizations, and government bodies. Work is available in nearly every field conceivable, and freelance employment range from tiny, temporary assignments to long-term, full-time enterprises.

These are the industries that employ the most freelancers:

• Accounting & Finance

• Administrative

• Writing

• Customer Service

• Bilingual

• Computer & IT

• Medical & Health

• Editing

• HR & Recruiting

• Education & Training

The Benefits and Drawbacks of Freelancing

Every career has Benefits and Drawbacks, and freelancing is no exception. Being aware of the difficulties might help you prepare for them.

Benefits of freelancing

Having control over your workload, clients, and money is a key advantage of freelancing. When you work for yourself, you have complete control. You choose which jobs you take on, which customers to work for, and your compensation rate. Depending on your level of skill, you may be able to work part-time hours while earning a full-time income.

Flexibility and the ability to work from home are other advantages. Working on freelance jobs most of the time entails working from home at the hours that you select. You will undoubtedly have deadlines to meet, but you will have complete control over when and where you work.

Drawbacks of freelancing

With ultimate power comes increased responsibility. As a freelancer, you are a company owner who must keep track of taxes, invoices, money received, obtaining your own health insurance, and purchasing the tools and equipment required to perform your task.

Another significant disadvantage of freelancing is the feast or famine phenomenon. Some months will be jam-packed with work, while others will be a ghost town. You may be depending on a constant contract with one customer, only to discover that they no longer require your services. Freelancing necessitates solid money management and the continual acquisition of new clients.

Characteristics & Traits Required of a Freelancer

There are a few traits you need to have if you want to be a successful freelancer. While not an exhaustive list, these important traits can help you decide where to focus your efforts.

Discipline

There is no one observing you from the corner of their eye, and no one is there to condemn you when you spend an hour online shopping instead of working. To keep on track, self-discipline is required. 

Persistence

Persistence is always vital, but it is more crucial when you are just starting out as a freelancer and attempting to get employment.

Resilience

As a freelancer, you'll hear one word more than any other: no. Rejection is the name of the game, and you must let it roll off your back.

Organization

You are in charge of a variety of duties. It is your responsibility to keep track of your revenue and costs, respond to client emails promptly, meet deadlines, keep your papers organized, and ensure your workload is minimized.

Proactive

You don't have to be extroverted in the conventional sense to attract new clients, but you do have to be a bit pushy. If you want to expand your business, you'll need to be comfortable networking and contacting people, whether in person or online.

Communicative

Being a freelancer necessitates a great deal of contact. You must be willing to conduct difficult tasks, such as negotiating a higher rate of breaking up with a client and manage them professionally and sensitively. There is no supervisor or other coworker to do the dirty work for you.