Pros and Cons of Freelancing: Learn Is Freelancing for You?

If you wish to be a freelancer to earn, these questions could pop up in your mind:

Is freelancing a promising career for you?

Can you earn money through Freelancing?

How much time do you invest in earning money on freelancing platforms?

In this blog, I will help you find the answers to these questions.

So, Let's jump right into it!

There are various websites and endless opportunities to make money online. That's why people are now looking for it in Gig Economy.

Freelancing is one of the most famous components of online earning. Millions of people are working on freelancing websites. You must put much effort, time, and energy into Freelancing. Success requires hard work, finding the right niche, and networking like a pro.

Living in the 21st Century, Everything is getting digital around the globe. Online working platforms are now replacing traditional earning ways, and people look forward to making extra fast money or side hustling by sitting at home.

If you're working online, you can earn globally by sitting anywhere, at any time, and in any currency. The market reach is not limited to the local area, and it's GLOBAL.

In the COVID-19 pandemic, Due to lockdowns and economic downturns, hundreds and thousands of people shifted towards online work as they didn't have any other choice. But they found it a more attractive way to earn. That's why, due to this period of COVID-19, the growth of e-commerce gets more advanced. Millions of people are starting to shop online and sell goods and services online.

 To earn online, you must have brilliant skills with effort, time, money, and energy to invest.

In this Blog Post, you will see if Freelancing is for you!

Let's Get Started!

Most Popular Freelancing Websites

1. Fiver

Fiver is a global marketplace where people can sell and buy services worldwide. There is a massive demand for whatever digital services you provide to an international market. If you know what skills you can offer to the worldwide market and how to work with Fiverr, your potential for earning on Fiverr is endless.

So when you open a fiver, you will see various gigs offering different services and their charges starting from 5$ and above. The pricing of services can deviate depending on the services you provide.

The most common selling services on Fiverr are:

• Web Designing

• Graphic Designing

• Content writing

• SEO

• Logo Designing

• Animations

• Voice overs

• Typing work

• Photography

• Video editing

• Illustration

• Virtual Assistant

So, if you have skills that can benefit others and are helpful to them, you can start selling them on Fiverr.

Fiverr has numerous sellers and buyers. If you are looking for work and selling your services, then you are a seller, and if you are looking to hire sellers to accomplish a task, then you are the buyer in terms of Fiverr. Both sellers and buyers can find each other and communicate.

Register here and create a seller profile if you want to work on Fiverr. After creating a profile, you should develop gigs to tell people what services you are selling and at what price. After that, you will be ready to sell your offer to sellers.

Creating your profile on Fiverr is FREE OF COST. You don't need to pay anything to work on Fiverr.

But if your gig gets 80%, Fiverr will charge you 20% of the money as a commission.

Pros:

• You don't need to bid on projects

• You can have paying buyers on Fiverr.

• You can work on different projects that broaden your skills.

• Wide range of services available

• Affordable pricing for many services

• A large and diverse pool of freelancers

• User-friendly platform

Cons:

• It has a lengthy payment process

• It has a high commission rate. You have to pay a Fiverr service fee which is 5.5%

• You will depend on the mercy of the platform. You cannot contact your clients outside the Fiverr venue.

• There is no fixed earning while working on Fiverr

• Communication challenges and potential language barriers

• Additional costs for add-ons and revisions

• Competitive marketplace environment

2. Upwork

Upwork is the most popular and the world's largest freelancing marketplace where professionals sell their services and find projects to contact clients.

Upwork offers you to do massive amounts of freelance jobs in various fields. Some of the most in-demand skills on Upwork are:

• Graphic Designing

• Writing

• Project management

• Web programming

• Shopify

• Video Editing

• HTML

• Translation

• Web development, and more.

Millions of people are getting their jobs from Upwork all over the globe.

If you have any in-demand skills mentioned above and seek a job to make easy money, then Upwork is the right place.

To start working on Upwork, you need to follow a few steps:

Create your profile on Upwork for free. Your profile must look professionally attractive and appealing. You should use every part of your profile to showcase your skills.

Create a profile with an eye-catching title. Add your work history, skills, qualifications, and your photo.

To boost the attractiveness of your profile, consider creating an introduction video that will help it stand out.

After making your profile, now you're ready to interact with clients. To find work, you should Bid for jobs and make an appealing pitch for projects. Creating an attractive and well-crafted proposal is a skill you can learn with practice. It's essential when working on Upwork because every client wants to know what they should pick you among all the applicants.

Do not add copy-paste data in your proposals. Use formal and professional language, and do your best to personalize your proposal. Boosted proposals can also help you get a greater chance of being noticed by the clients.

Only a well-written proposal will increase your probability of getting hired.

Discuss your in-demand skills and interests with your recruiter so they find you work related to your passion and interest.

After finding work, you must decide how you want to get paid. Upwork makes sure that you get paid securely.

Pros:

• On Upwork, you will get credible clients.

• You will be assigned budget-based projects.

• Upwork takes too much time to approve your application to join Upwork.

Cons:

• Upwork takes too much time to approve your application to join Upwork.

• Upwork charges a high service fee. If you earn between 0-500$ from the client, Upwork will charge you 20% of your earnings, and if you're earning 500-10,000$, Upwork will charge you 10% of your payments and 5% if you are making more. If you earn less, you will end up paying more.

3. 99designs

If you're a graphic designer, then 99designs is your best-earning platform. You can set your rates and directly connect with clients.

You can sell skills that are related to graphic designing only:

• Logo Designing

• Web Designing

• Advertisements

• Product packaging

• T-shirt designing

There are various ways to make handsome money on 99designs.

You can either work directly by connecting with a designer or compete with other designers by participating in a contest and having a chance to win. The designer then chooses the winner and pays him.

You can create your account free of cost on 99designer, but you will have to pay the fee to get paid for your contracts.

After making a profile, create the best portfolio of your work using descriptions and ads so the clients easily match you.

Respond to all project invitations within 24 Hours, and It will improve your responsiveness score.

Pros:

• Access to a considerable community of talented designers.

• Competitive pricing due to the crowdsourcing model.

• Wide range of design services available.

• Quick turnaround time for receiving design options.

• Ability to provide feedback and request revisions.

• Satisfaction guarantee to ensure a design you're happy with.

Cons:

• It charges high service rates.

• The top-level designer has to pay a 5% platform fee, the Mid-level has to pay 10%, and the entry-level has to pay a 15% platform fee.

• The level of the designer could be limited.

4. Guru

Guru is a marketplace where freelancers and companies work together. Companies hire professionals for various tasks.

You can create your profile on Guru and choose a free or paid membership plan. The difference between them is that the number of bids for the free plan is limited, allowing you to apply for a job.

Free plan members get ten bids per month and can apply for ten jobs per month only.

You can withdraw your cash via PayPal and wire transfer, and freelancers get paid safely and on time with safe payment protection.

 Pros:

• An extensive network of freelancers with diverse skill sets and expertise

• Flexible hiring options for different project types and payment structures

• Secure workroom environment for seamless collaboration and communication

• Workroom management tools to stay organized and track project progress

• Escrow payment system for secure transactions and freelancer/client protection

Cons:

• Variable quality and reliability of freelancers

• Service fees on freelancer earnings and additional fees for certain features

• The limited dispute resolution process

• Saturated job listings in popular categories

• Communication and time zone differences with freelancers from different countries

5. Behance

Behance is a platform where you can share your creativity. It's a social network of brilliant talents. You can create your portfolio and share your work, including animations, illustrations, web design, and graphic design.

Sign up and create your profile on Behance, share your work there, and like or follow more people. It will help potential employers find you, and you can also learn about work opportunities. Behance provides you the opportunity to promote your skills and expertise more efficiently.

Pros:

• Showcase creativity and gain exposure.

• Connect with a global community of designers.

• Find inspiration and discover new ideas and trends.

• Network with other professionals in the creative industry.

• Explore job opportunities and project collaborations.

Cons:

• Increased competition for visibility and recognition.

• Limited client interaction and project management features.

• Potential risk of copyright infringement.

• Limited analytics compared to specialized platforms.

• Some features and promotional opportunities may require a premium account.

Top 7 Freelancing Websites For Beginners

Pros and cons of Freelancing

Freelancing has pros and cons, depending on the type of work. Freelancing can be challenging to deal with because you don't have the security to work consistently.

Suppose you must pay your bills and taxes and meet your other expenses. How will you do that?

If you don't have the security of getting work every month?

If that's the case, freelancing could be a good option for you. It can serve as a side hustle.

But if you don't have any responsibilities like taxes and bills, you can test your skills and creativity on freelancing websites by giving you all your time.

If you're considering leaving your job to become a freelancer or pursuing freelance work after graduation, you must clearly understand what you're getting into. Instead of going straight into freelanicng, you should adopt it as a side hustle and see for a short period if it's your best career.

I'll provide you with some advantages and disadvantages of freelancing that can aid in deciding whether freelancing is the right fit for you.

Pros:

Flexible Work: Freelancers don't need to work 9-5. They have the advantage of working flexibly. While working as a permanent employee, you will only get a salary raise when you perform well once a year, but if you are freelancing, you can set your prices and demand more.

Work From Anywhere: You can work from anywhere, anytime around the globe, anytime if you are a freelancer. You can adjust your own work life according to what suits you. You can go on vacations to restaurants and beaches and still have access to your work and clients.

The Potential of Earning High Income: There's no fixed income if you are freelancing.

You set your rates and can even demand more money from your clients if you get a pro in your field. You can have the potential to earn three times more salary than a full-time employee.

Be Your Boss: You can be your boss. You can make your own decisions and work hours. You can set your own goals. As a freelancer, you can pick your customers and the nature of work you wish to undertake, allowing you to pursue your preferred projects. You can set your guidelines and select the clients that align with your preferences.

Cons:

Working in Isolation: You must work in isolation as a freelancer.

There will be no team and colleagues to help you with your work. You have to bear the workload on your own. So if you can't handle the work stress and get panicky, freelanicng may not be appropriate for you because when you are working in isolation, there will be a lack of communication and social interaction that may cause stress and boredom. Sometimes, you can also feel unmotivated and out of mind.

No Work Benefits: Working as a freelancer, you can't get other exciting job benefits like incentives, bonuses, perks, and paid-off holidays and vacations.

Tax Issues: You could face tax issues while working as a freelancer, which is 15.3 % of the self-employment tax. This way, you are paying double the website and the tax charges.

Inconsistent Work and Income: If you are a freelancer, you are away from earning a regular income. Getting projects and clients is unpredictable. Today, you have many clients at your doorstep, but there is a chance of none tomorrow. If you want freelance work, you should know you will be responsible for looking for your clients and searching for projects. There's no surety that you will get projects daily. There will be no basic salary for you. You have to find your clients, make sure you're getting paid, and search for projects; gigs hustle 24/7 hours a day.

Late and Slow Payment Issues: As a freelancer, you may encounter challenges such as slow or delayed payments and clients who fail to fulfill their payment obligations. You have to make sure that clients will pay you on time.

Wrap Up

In conclusion, freelancing offers advantages and disadvantages that must be carefully considered before deciding if it is the right path for you. On the one hand, freelancing provides flexibility, the ability to pick your clients and projects, and the potential for higher income. It also allows for a better work-life balance and the opportunity to work from anywhere. On the other hand, freelancing can be unpredictable, with fluctuating income and the need to constantly find new clients. It needs self-motivation, discipline, and the ability to manage a business's managerial aspects. Whether freelancing is for you depends on your preferences, skills, and circumstances. When deciding, it's essential to weigh the advantages and disadvantages and choose an option that aligns with your objectives and ambitions.