The life of a freelancer has its pros and cons, but generally, people love the freedom and flexibility.
Organising your own schedule and having more flexibility in managing your tasks are only some of the perks that freelancers most appreciate. Many people would also mention setting up a comfortable home office and avoiding dress codes and long, time-wasting commutes.
Over the last two years and with remote work taking over, many have turned to freelance careers and invested in their own skillset and capabilities. Channelling talent into jobs they enjoy and are great at means freelancers can maximise the deliverables while offering more convenient rates. It’s a win-win, especially for businesses with limited budgets.
As it stands, freelancing sounds like an absolute bargain and a way out of that 9-5 hamster wheel. However, not all sunshine and rainbows. Freelancers face many recurring challenges that, unlike permanent jobs, end up affecting life stability and career growth. Along this bumpy road, the following four challenges hit the hardest.
1. Managing workloads
Keeping up with the good work isn’t as easy as it sounds. Having a variable workload means freelancers must manage their time effectively, track progress, and meet deadlines. It is necessary to adhere to a fixed schedule and set daily working hours to allocate to each job. It’s also considered beneficial to make a to-do list and prioritise tasks that require more time to complete to avoid possible burnout.
Freelance work entails stressful periods and late-night sprints, making it critical to stay motivated and remain confident that the massive effort will eventually pay off.
2. Marketing services
Sooner or later, freelancers will have to get their hands dirty and proactively promote their own services and work. Creating social media accounts and profiles on freelancing platforms is the first step to building a personal brand and establishing an online presence. All employers, patrons, fans and friends will be asking for a portfolio of work or proven experience in their sector.
The more visible the online activity, achievements and past projects, the more credible their professional profile.
3. Maintaining motivation
Despite the better freedom, flexibility, and control over work, freelancing can turn into a lonely experience and impact morale when tedious or difficult projects arise. The lack of regular interactions with co-workers or other humans sharing the project burden could lead to demotivation and low performance. It’s advised to prefer projects that inspire some degree of creativity and spend a couple of days a week in a co-working space.
Meeting new people and exchanging ideas during a coffee break will help fight off isolation and increase opportunities to find prospects and pitch to them directly.
4. Irregular income
Whether writers, web designers or developers, freelance work shifts from turning down countless job proposals to twiddling thumbs in quiet periods. Flexible work calls for variable workloads and unstable income, affecting freelancers’ ability to make ends meet. As a matter of simple math, earning £2,500 one month and working one minor gig for £250 the next one is quite an income fluctuation. Many of our customers at SteadyPay find themselves in the same situation, constantly worrying that their income could take a hit.
Minimising the financial risk allows freelancers to achieve stability and dedicate themselves to delivering outstanding projects.
The SteadyPay solution
Freelance work brings around many challenges, but some can be overcome with just a couple of clicks. With SteadyPay top-up, our customers have regular access to a credit facility when their earnings fall below their average. By stabilising their income, they can mainly focus on what they do best – finding new clients and servicing the existing ones.
Leave behind the financial risk, enjoy flexibility and freelance work. Learn more about SteadyPay top-up.