Knowing When to Throw in the Towel
Over the weekend, Freelance Switch featured a timely post written by Logan Strain. The article highlighted four reasons why he doesn’t want to be a freelancer anymore, and it explored the real side of telecommute or freelance life. You know, that side that few people are ready to admit. Everyone wants to tell their success story, and relate how they were able to replace and exceed their full-time income in a short length of time.
I don’t doubt their success. Likewise, I’ve accomplished a lot as a freelancer - professionally and financially. At the same time, I’ve experienced a few lows and disappointments. Thus, I can empathize with Strain’s plight.
But, there’s one important difference. Unlike the article’s writer, I’m not the sole breadwinner. My husband works full-time and we don’t have children. Plus, I benefit financially from a family-owned daycare business. Losing a freelance contract doesn’t have a major impact on my finances, and I don’t have to pay my own health insurance premiums.
If I were single and didn’t have multiple streams of income, I would probably be singing a different tune. Being a freelance writer is fantastic - but unpredictable. Success stories can boost a newbies confidence and give them the strength to start their own work at home business. But let’s be truthful: a freelance career may or may not work.
It takes time to grow a business, and persons with few financial obligations can usually survive longer without a steady paycheck. On the other hand, if you have a lot on your shoulder (mortgage, car payment, household expenses, medical insurance, etc.), you may have to keep your full-time job and moonlight as a freelancer until the business flourishes.
Still, there are no guarantees. And unfortunately, freelancers can find themselves in Logan Strain’s situation - contemplating whether to give up freelance life and return to the workplace.
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