What makes the idea of being a freelancer so attractive? is it the ability to make more money on the side? be our own Boss? or maybe we’ve just masochist.
You better be good at multitasking, or you will get good at it.
When you’re your own Boss, You get to make Your own schedule, Juggled multiple projects, and choose which client you want to take on or turn down, In other words You have to be an Sales, Admin, Designer, and an Project manager, All in one, At the same time.
Feast and Famine is a real thing, and it’s a constant battle against it.
This is a real problem, and why a lot of Freelancers are not able to continue their freelance business before going back to work for Someone else? Knowing how to prepare for those months and how to manage your money is important for every freelancer, no matter what it is you do.
Slave to The Money
When you’re dependent on work to pay the bills, You are more likely to say yes to Projects you don’t enjoy too much, or don’t pay you well enough.
Competing with Cheaper Talents
The reality is that there will always be cheap Clients, and other Freelancers like Yourself vying for the potential work. What happens in cases like this? Cheaper talents will come in at an ungodly low rate in order to secure the project. Should you be lowering your rate to compete with them? The answer is no, If you do then this becomes a race to the bottom of the barrel.
Your Social Life Takes a Hit
When it rains, it pours. If you have a bunch of work, You get swamped with work, and you end up turning down to with friends or even a Family. This might seem like a good problem to have. But it starts to burn out. No amount of money is worth the sacrifice of your health and your relationship with those around you.