36% of Americans are already freelancing or self-employed, and by 2027 more than half of the US workforce will be their own boss.
Being self-employed and working freelance opens up a world of opportunities in your personal and professional life. However, there are a lot of myths that surround going it alone and some of these might be holding you back from taking the plunge yourself.
That’s why I’ve busted some of the myths about freelancing & self-employment. Read on and by the end of this article, you’ll be able to make an informed decision about whether being your own boss is realistic.
Recommended reading: How Freelancers Can Become Full-Time Entrepreneurs With Little Money & Limited Time
1. Growth in freelancing and self-employment is a blip
Not only are a huge number of your fellow Americans already in the game of freelancing (57.3 million of them and counting) but that number is only going up and up. It’s become one of the favored ways to work for the millennial generation and that’s already being passed on to the linkster generation.
Why are we and economists be so confident that freelancing and self-employment isn’t a blip? The way people work has changed. No longer will you work for the same company for the whole of your life, or even work in the same industry; flexibility now rules over stability and freelancing and self-employment are the logical conclusion of this.
2. You don’t make any money going it alone
Freelancers and self-employed workers contribute $1.4 trillion to the US economy, that’s $24,433 per freelancer.
While the amount of money you can make by going italone depends on the industry you work in, the amount of experience you have, and the opportunities you can source, there is money out there to be made and you can be one of the people that makes it.
3. You’ll need to lower your rates to attract clients
Contrary to what you might think, cutting your rates doesn’t attract clients it turns them away. By having a rock bottom price you are telling prospective employers that you have a rock bottom service.
While you certainly don’t want to price yourself out of work, and it’s crucial that you research the freelance rates for your niche, you do not need to lower price in order to get clients. Instead, make the case for your rates with an online portfolio that advertises the quality of your work.
4. Being self-employed means you’re the boss
You’re quite right to question this; one of the main reasons that you choose to go self-employed is that you look after your employment. However, that’s precisely the point; you look after your own employment but ultimately you will still be paid by your clients and that means they’re your boss.
Don’t feel downbeat, though, because what it does mean is that as a freelancer you can choose your boss. This means if you don’t like them then you can walk away, which is a lot easier than getting your boss changed if you’re employed by a company.
5. Working from home is easy
Let’s be clear here: if working from home was easy then a lot more than 36% of the US workforce would be doing it. In order to set yourself up for the long-term in freelancing and self-employment, you’ll require tremendous self-discipline and that’s hard when you’re at home and the temptation not to work is always there.
One of the ways that you can make working from home a more productive and easier way to go about your business is to use tools and apps to monitor your output. One of our favorites is Toggl. It’s an app that tracks your work time and lets you see where you’re spending your time.
6. You need to be a web design expert
In order to make your name and business visible to your clients, it’s essential that you have an online presence. That’s where your blog/website comes in.
Your blog/website is your opportunity to create a brand identity and reputation for your work, and it’s a lot easier to get up and running then you might fear. Using a website creator is ideal for small business owners – making them perfect for you. However, just setting up a blog won’t make you the master of your earning potential.
7. A blog is all you need to be a freelancer
Right not now there are 30.6 million bloggers in the US. That’s nearly half the amount of freelance and self-employed workers. Why the big difference? Because having a blog alone doesn’t make you a freelancer.
In order to become a successful self-employed writer you’ll need clear examples of how your words can sell company products – not just your thoughts on Trumpism. Adding testimonials from your previous clients to your website is a great way to prove the standard of your work and help you secure future contracts.
8. There are too many freelancers on the market
One of the great fears when making the move from employed to self-employed work is that there won’t be the work out there for you to make a living. Luckily for you, this simply isn’t true.
In fact, many small businesses are now outsourcing to freelancers. This is because getting in self-employed specialists allows SMBs to focus on the core requirements of their business, along with quickly scaling-up their operations.
Freelancing and self-employment allows you freedom but also brings with it great responsibility. There are many myths that might make you nervous about striking out on your own but fear not; remember the lessons of this article and keep in mind that by 2027 half of your friends, family, and colleagues will be freelance.
Great article, I agree with you! Especially with the fact that “working from home is not that easy” and that “a blog is not all you need to be a freelancer” 🙂