There are Pros and Cons in any business, it depends on what’s right for the individual and how they like to work and live.

No matter whether you are employed, unemployed or self employed, it can be difficult to achieve the right balance between working and living, for many the line is somewhat blurred, and I speak from experience where this is concerned.

CONS

1. FLUCTUATING INCOME

When Freelancing you will have good and bad months, sometimes you will be working on long projects with nothing to tide you over, or you will have clients who pay really late or occasionally not at all, leaving you short now and then.

2. NO BENEFITS

You will have no company benefits such as healthcare, pension plan or life insurance. You also won’t have any paid holidays or get paid if you are sick.

3. SICKNESS COVER

Following on from above, if you are ill, who is going to finish the project and deliver the work that you are contracted to deliver? If you are ill it may be no fault of your own but in letting down a client, they may not come back again, or worse still make it known that you can’t keep your promises or deadlines.

4. ISOLATION

It can get lonely from time to time working on your own, you also have to be self critical without anyone around to bounce ideas off.

5. DISCIPLINE

A tricky part of running your own business is keeping yourself disciplined with all the distractions at home. Less x-box and cups of tea and more work.

6. CLIENTS

Lets face it, clients can be a pain at times, but there won’t be anyone else to deal with them, it’s all down to you.

7. PAPERWORK

You will also be solely responsible for the accounting and paperwork that comes with any business. It may be a drag but you will have to do it.

8. TECHNICAL HEADACHES

When your computer, printer or internet connection goes down, it’s up to one person to drop tools and sort it out…you guessed it, it’s you again.

9. INITIAL EXPENSE

Starting out as a Freelancer is going to cost you to a certain degree initially. You can’t start earning without the equipment and software you need to create the wondrous stuff you intend to start regularly churning out.

10. LONG HOURS

With all the responsibilities on top of the actual designing, animating, compositing or whatever type of job you do, you can expect some long hours and weekends.

PROS

1. FLEXIBILITY

You will be able to work when you choose to fit your lifestyle. You can take jobs or reject them, it’s all up to you what you do and when.

2. NO BOSS

When you are your own boss you can get up late if you want, have a long lunch, or go skiing at the drop of a hat.

3. HOLIDAYS

Holidays don’t tend to exist in the same way for Freelancers, but if you wanted to extend a holiday, change the dates, or just take a long weekend for the hell of it….you can!

4. MONEY

It’s debateable whether Freelancers actually earn more than employed people over the course of a year,  but at least you know that whatever you agree to do a job for, all the money will be yours to do as you decide. Rememeber to keep some by for the tax bill though.

5. MORE MONEY

You can have more than one income by running several businesses if you like. You can split your time between them as it suits.

6. INCREASE YOUR SKILL SET

If you feel like learning something new, a 3d package, or a new editing tool, or how to knit or arrange flowers you can afford yourself the time and peace to focus on it and get it learnt faster than you could in the office environment.

7. RESPECT

Your peers will appreciate how much effort and skill went into your work and admire your dedication. After all, you did it alone!

8. FREEDOM

The joys of freedom speak for themselves. No, you don’t have to attend 5 dull meetings today because your boss said so!

9. SATISFACTION

When the job is done and delivered, there really is nothing more rewarding. You can sit back content, knowing you did your best…and then start thinking about the next project in the pipeline. It really is satisfying to see what you have accomplished by yourself.

10. FUN

I just love what I do, and I’m sure if you are reading this then you do too. What could be more fun than doing what you love all day, the way you want to do it, and getting paid at the same time. It’s just FUN!!!

The latest advice for Motion Graphics Freelancers and all those from any industry considering going into Freelancing or setting up a studio at home on your own.
Check it out here.

We discuss:

Financial Startup

Portfolios & Showreels

Pricing yourself – Your market value

When work is plentiful or scarce

Paperwork & Accounting

Clients and their slow payments

What you miss out on as an employee

Are you right for Freelancing?

What is great about being your own boss

There are more Free Articles,  downloads and more here in Resources.

There are more Free Articles,  downloads and more here in Resources.