How do I know if freelancing is suitable for me?

Freelancing isn’t just the latest millennial trend. It’s been around for a long time, and will only continue to grow. In fact, that growth has only accelerated with remote work and digitalisation. It is estimated that nearly one-third of the global workforce, or 1.2 billion people, are currently engaged in some sort of freelance work. 

Singapore, on the other hand, has a much smaller percentage of freelancers. According to the 2020 edition of the Comprehensive Labour Force Survey, Singapore currently has 228,200 freelancers, that’s barely 5% of our population! But with side hustles, multiple sources of income, and flexible lifestyles being the talk of the town these days, that number certainly has, and will continue, to grow. 

That said, this lifestyle is not for everyone. Before jumping into the freelancing world, know that this line of work demands a lot in terms of time management and discipline, and might cause you to lose previous comforts such as the line between work and life, and even financial stability. Rather than finding out too late, read on and evaluate if freelancing is suitable for you.

You are not crushed by freedom and flexibility

Sounds paradoxical, but a lot of people don’t perform better when given unlimited time and flexibility. According to The Economist, some remote workers are spending 30% more hours on work while producing the same level of output. 

Novice freelancers are often surprised by how much motivation and discipline it takes to stay on course. As the literal boss of your business, the success and failure of your projects lies solely in your hands. Freelancing requires you to demand more -  not less, of yourself. 

Flexibility to work anytime you want also means that your clients will chase you anytime they want. Your Whatsapp might be dinging while you’re working in the middle of another project, or even during office hours if you still hold onto a full time job. You might even have to sacrifice weekday evenings and weekends just to keep up with the backlog of work.

On the flipside, there are people who actually relish the challenge of being on call 24/7. They have the tools and know-how to fend off burnout and also find the lifestyle rewarding. So your first sign for whether freelancing is for you should be whether you find such a work arrangement appealing.

You are easily bored and crave constant variety and change

Meeting new clients, working on new projects and even acquiring new skills as a project requires is part and parcel of the freelancer lifestyle. Freelancing is akin to managing a micro-business, where client deliverables are the top-most priority. 

You won’t have the luxury of sticking to a singular area of expertise and skill set. If you truly want to build a brand for yourself, be prepared to wear multiple hats. From learning to negotiate with clients to dusting off old skills you learnt in university, nothing is off limits if you want to secure a project. 

Again, some people find diving into the unknown a nightmare. Others find that it breaks up the mundanity of day-to-day work, and allows you to expand your skill sets which will in turn make you eligible for even more projects. 

You are comfortable with not having stability

There’s no worse feeling than watching your colleagues treat themselves on pay day while you chase a runaway client for the tenth time. Your colleagues will also know the amount they are receiving in advance (in fact, they probably know their salary by heart), while planning ahead financially may be tougher for you. You may get to enjoy a windfall on certain months, but have to scrap pennies on others. 

Many do not have the gall to stomach this financial roller coaster ride, which can greatly affect retirement planning and even your leisure activities. Of course, freelancers have the advantage of tapping into multiple sources of income. Taking all your financial liabilities into account with proper financial planning, and ensuring that you can continue performing even when bills are knocking on your door is crucial to surviving in this industry.

Want a taste of the freelancer lifestyle?

It’s one thing to read about freelancing, and another to have experienced it for yourself. As they say, don’t knock it ‘till you’ve tried it. If you’re even just a tad bit curious about how you will perform as a freelancer, why not apply to be part of our talent pool at CreativesAtWork?

Over the past 10 years, CreativesAtWork has successfully matched freelancers with clients who are carefully screened and curated. We don’t just match freelancers with a job, we ensure that they are equipped with all the tools necessary to thrive in this industry.

Join us today and take your freelancing career to the next level. 

To scale up your freelance business, you may consider joining us in our Freelancing Bootcamp.