Freelancing is not just some Petty gig people do anymore. Truth be told, it is getting so real that there are estimations and claims that freelancing will take up half of the workforce by 2027!
Maybe you have thought of freelancing. You may even be doing it as a “side hustle” at the moment, but you are yet to make the right decision yet because your salary comprises MAINLY incentives. The world is evolving! To understand exactly how much it has evolved, freelancers bring back home a whopping $1 trillion in annual income in 2016 while a good number of freelancers are making more money than they do make before delving into the gig industry.
According to a survey taken by Forbes, freelancers were asked to give good reasons why they chose freelancing, most of the freelancers were saying; Notwithstanding the disadvantages, many skilled workers embraced freelancing because of one single reason – freedom. Freedom to go for a vacation anytime they want, freedom to stay with their family, and play with kids.
Here’s what a few numbers of the respondents answered when asked why they chose to freelance:
Obviously, if you have not been freelancing, you have been missing your peak-share of that trillion-dollar pie! Also, if you do not consider making a shift into the gig economy soon, you might really be missing out on a lot, because everyone has a unique skill to exchange for money
If you’re contemplating whether freelancing will stay long, here are few reasons we (in addition to some prominent experts) accept that freelancing is the fate of the business word:
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Specialists have novel skills and encounters. Doubtlessly they’ve worked for a wide range of clients on various sorts of projects. So when they get the chance to consolidate their inventive skills and experience they gained from past projects to help other people, it’s a success win situation for both players.
Will Lee, CEO of Blue Whale, a company known for building more grounded companies of one-person business made notable contributions to the importance and merits of freelancing when he said: “Think of how this could benefit a company. Let’s assume you need an expert author for a single task. It would not bode well to employ a full-time writer, because your writing needs aren’t sufficient enough to be paying salary. He continued saying, “Employing and playing a full-time writer on a paycheck would be costly and misuse of money. Notwithstanding, a freelancer would fit the task impeccably. It will be better for the company to award the project to a freelancer, pay them, and afterward, the two parties will go their separate ways.”
That being said, all you need is a one-time project, regardless of whether it costs you $100 or $2,000. In addition, freelancers love getting paid for their creative work!
Remember: One-time project can swiftly turn into a monthly paycheck while you are working for other clients at the same time. If you render a great service to your client, and they can truly observe their quantifiable value in you, it will not be astonishing that they will assign more work to you later on, or even retain you for the long-term.
Expenses for each new employee they recruit are actually what companies do not have any desire to burn cash on. Benefits include medical coverage, sick leave, and overtime after paying salary.
Will Lee of Blue Whale notes “freelancers are free operators, not part of any organization’s staff, so the business doesn’t have to give freelancers any advantages. When freelancers are hired for projects, companies spend less because they just need to pay the freelancer only for their services. This could be one of the main reasons motivating businesses to hire freelancers consistently.”
Although this favors companies of all sizes, it is of more advantage to freelancers. If you are making six figures in your nightgown, the freedom, lifestyle and fast payments take care of those benefits employees are taking from companies.
Something immense to note: millennials are presently the biggest living age. Working at an organization for 10 years is something none of them will probably be doing knowing that they might be laid off one day without prior reason.
Growing up with a Smartphone being basically our friend and tutor, this age is continually looking for creativity, skills, and quickness. When Millennials think of their freedom, the desire is very high as far as they have the experience, automation, skills, and readily available information. Freelancing is the future of the world.
When they can get everything they want with a click of a button, regardless of whether it is food, garments, or films, making money will be no difference. Millennials are “high-support agents” in the way they want to be treated for their work (yet, they know their value in this constantly evolving world).
Although looking for gigs on platforms like Upwork, Freelancer.com, Guru, and Fiverr go against this idea. Many starting their freelancing concentrate on sites like these end up realizing that it will only favor a few of them. This is because those sites are saturated with freelancers (pitching for jobs directly from the clients is highly recommended, however, freelancing websites that connect freelancers with clients are generally accessible and cheap to use).
Businesses usually approach clients on these freelancing sites via search and job posting. The main administrators that have generally defined how the workforce is done are now leaving those sites to source clients directly. Why most of them with mad reviews are still staying there as roadblocks to beginners.
There are several ways you find how to use straightforward and financially savvy client-getting strategies that give you the quality, lucrative clients you need for a profitable freelancing business.
Some of the techniques include:
At this point, if you are already a freelancer, you are now more equipped and ready for what is to come. The usual thinking is assuming that companies lay off the workers who seem less productive, however, in reality, anyone can get paid off based on reasons best known to the organization.
As a freelancer, whether the company is losing its contract or not you will not have much in fact, in most cases it is time for them to even hire you and drop their staff into account to cut costs.
Job security does not exist, and freelancers should understand that Some big companies just experienced setbacks of the century, companies like Wells Fargo was compelled to lay off 26,500 of its workers, and Citigroup laying off close to 50,000.
Although Artificial intelligence is a threat to people to replace their inescapable records of blunder and failure in the work field, however, there are two things an Ai cannot replace:
Both are totally needed for creating any kind of successful business.
The author of LinkedIn says; freelancing gives people a specific favorable position in regards to the threat of AI – they are in direct contact with the organizations they work for. As it is, they create connections and their insight base – two things AI can never take from them.
There is a proviso to this. For instance, AI could most likely replace my skill as a freelance writer. But it can’t change my brain and mastery for consulting. It likewise can’t create influence like I have.
With recompense for the eye to eye communication and online meetings, technology favors how freelancers and clients work.
Abdullahi Muhammed, CEO of Oxygenmat, a content marketing organization and contributor of Forbes Magazine, World Economic Forum, Entrepreneur, Inc., The Huffington Post, Search Engine Watch, The Next Web, Engadget, and many other top engaging sites shares his knowledge on this point, he says, “Smoothing out the communication cycle implies that freelancers no longer have to use more slow cycles like email to complete things and decisions.” He further explained saying, “Gig workers can work faster, and customers can react faster, considering more fast sending of products and services.”
Knowing this now, it is important to take note of how technology is moving the phase of today’s workforce altogether. Today, businesses can be overseen effectively from across the world as they could from across the office.
Not exclusively does this worldwide availability increase the potential customer reach, it means that the work pool is not, at this point restricted to those within a specific area. Companies that love remote work gets the chance to work with talents across the world. Presumably, there is an immediate connection to freelancers and tech organizations and again, Millenials have a lot to gain from freelancing.
It is quite interesting to go on and on; it is not so astonishing that the number of freelancers keeps on expanding along with the number of tech organizations – and industry that presently represents a quarter of the U.S. market capitalization. However, organizations are turning out to be more technologically shrewd, thanks a lot to a workforce that has grown up online.
Undoubtedly, we are in the Technology Age with increasingly more new online companies springing up every day, it also means they need much assistance from freelancers as possible.
It is a well-known fact that freelancers get ripped off when clients do not pay for the work they have been allotted to do. In all honesty, 58% of freelancers report not getting paid for their work. However, laws are being set up to secure gig worker rights – an indication of the business’ growth and importance in the economy.
The clients who abuse gig workers are currently getting punished. In buttress of the policies and subsequent punishment for ripping freelancers, in 2017, a law in New York City, named “freelancing is not Free” was given birth to. This law, while clearly stating out conditions for contract arrangements among freelancers and their client, centered more around guaranteeing that freelancers are to be paid for their work. It gave a response to gig workers who were not taken care of and punishments for clients who reneged on projects.
Regardless of whether you’re a housewife or a 19-year-old who likes sleeping while others are rushing to their 9-5 workplace., who doesn’t like flexibility and freedom?
AyushGoyal, a contributor at Entrepreneur Magazine and fellow benefactor of MissionKya, a freelance platform that connects companies and freelancers to exchange services outlined that “It gives us the option to work at any time of the day. In this way, people have started taking the advantage of putting their time in learning new skills, improving them, and enhancing the broadness of their work. Thus, their extra skills let them into any kind of service. Connecting with many clients for different kinds of contract avoids the possibility of monotonous projects.”
As referenced earlier, millennials are fixated on oddity. They like alternatives. Freelancing gives them the benefit of choosing which projects they have to take on. This ties into the longing for self-governance, a human need, and millennials are prepared for it.
The most interesting part about freelancing: How Much You Make Totally Depends On You. It is crucial to note that to an age that needs things quickly, money is no exemption. Ayush verified this when he said, “Their earnings are completely based on the time they contribute and the result they produce. In contrast to a normal day job, it isn’t consistent regardless of how much more or less they work. Hence, the more the endeavors you put in, the more would be the profit. It everts the hindrances to deciding how much you earn.”
When how much you earn totally depends on you, it just bodes well this age of obsessive workers would rely on freelancing than 9-5 am jobs.
While hiring a freelancer, there are many advantages to recruiting employees and security costs for businesses. Apart from the money saved and benefits of contracting freelancers, a great number of people are going for partially or completing going into the gig economy. This can totally wipe out or substantially diminish overhead costs: lease and utilities.
To lay more emphasizes on how going online influences the cost of all actions we take; When booking an appointment or interview, for what reason should a company spend thousands of dollars on tickets, transportation, convenience, dinners, and print materials—also lost billable hours—when that equivalent interview can take place in an hour by using videoconference for a monthly fee of $50?
Also, every worker dislikes been held down in traffic for hours. Employers are not by any means the only ones to profit monetarily from the gig economy. The flexibility with hours and location that freelancers enjoy always can surpass all these too.
In as much as there is no allowance for a drive, no costly take-out snacks or $5 cup of tea, no money for childcare, and so on. Depending on personal habits and location, freelancers can swiftly cover all these. Yes, even nature wins with freelance! And keeping in mind that this can mean a lot for a company’s net income, it likewise helps nature by scaling back fuel used in driving.
Freelancing constructs the road to personal satisfaction, and a great number of individuals are seeing that. As a freelancer, you get to work more on Passion-Based Projects
However, freelancers appreciate carrying out their services, which has an immediate connection to how well they work and earn. When an individual works as a freelancer, it permits the person in question to zero in on the kind of clients or work that the person loves doing.
As someone who has worked for various clients and advertisement organizations, I can say from personal experience that it is a burden to speak to a client that dislikes your lifestyle or value.
For quite a while, guardians needed to choose between time with family or work. Although, with an increasing opportunity for remote work and hourly flexibility, guardians can be effectively present for their kids without seeing their work as a barrier to spending time with their kids.
A friend of mine was fired from his previous workplace because he had to take his sick nephew down to the village, he took permission but it wasn’t granted – it became a matter of choosing between his nephew and work. He had to take the boy down for treatment, and he received a sack letter the moment he came to work the next morning. Freelancing has given an edge to this.
Freelancers are very happier because of the absence of all the clamor of workplace issues, wasteful meetings, unsatisfying environment, and so on. Freelancers are grateful to today’s world. Freelancing is the future of the workforce
In alignment, it is noteworthy that When workers are happy, they are more determined and productive. A surprising 91% of freelancers have expressed that their efficiency increased. Finally, various surveys have also shown that allowing staff to work from can have a huge increase in turnover rates, yielding much more money for companies to hire freelancers to get their work done.
Freelancing is becoming a standard way of life in technology and a curiosity-driven workforce.
Here’s a quick recap of why freelancing is the future of employment:
Regardless of whether you have just dunked your toes in the world of freelancing or have been doing it for quite a while, we got your back – this guide will definitely make it simple, and sweet as pie.
The future is now, and the money is in the gig economy.
FREELANCING IS THE FUTURE!
This post was last modified on August 2, 2022 5:34 pm