Myths around freelancing

Freelancing is soaring in popularity and on its way to eclipsing the employment norm, there are still myths surrounding it. Having a positive mindset is essential to succeed in your field. So let us help you set the rumors straight that prevent you from reaching your full potential. Some of the myths are listed below :

Myth 1 – Freelancing is unreliable

Traditional job offers a fixed salary no matter how hard or for how long one works. As a freelancer, you get to decide your earnings according to the quantity and quality of work. However, it takes time and you need to earn a reputation of being dependable.

Fact: CNBC reports that the number of gig economy workers has increased by 27 percent more than payroll employees over the last 20 years.

Myth 2 – The lifestyle promotes isolation

Freelancing does not mean you will be working in isolation or that you will be reserved and introverted. You get the opportunity to interact with different people from all over the world and have the option to work in a virtual office with employees.

Fact: 78% of freelancers feel the way they work allows them to live the lifestyle they want.

Myth 3 – It’s only for beginners

Freelancing can be for beginners, intermediates, and experts, given the availability of all project sizes, scopes, and even durations online. It does not only depend on the experience but also your choice to work independently or opt for the traditional work structure.

Fact: 67% of companies are hiring more “senior candidates” for contract roles.

Myth 4 – There is no job security

The fact that freelancers can juggle more than one project at a time is an even increased benefit. Amidst the pandemic,  full-time employees are at risk to lose their jobs, working as a freelancer is the only viable and guaranteed option. It’s you who chooses to take up projects or drop them.

Fact: 72% of freelancers say they either have the amount of work that they want or more.

Myth 5 – Freelancing isn’t like starting an actual business

It is absolutely a business and Sole proprietorship is the default business entity for freelancers. You’re your brand and your work speaks for itself.

Fact: The Internal Revenue Service considers freelancers to be self-employed, as a freelancer you must file your taxes as a business owner.

Myth 6- It’s all about hustling

Growing a successful freelancing business can benefit from hustling, but it’s not the be-all and end-all. Understated approaches and other marketing strategies go a long way in maximizing the potential of your business.

Fact: More than 50% of freelancers would not switch their jobs for any amount of money because freelancing has its perks.

Myth 7- It’s way more stressful than a full-time job.

Now, no work comes without some level of stress. Whether it is more stressful than a full-time job largely depends on what parts of work you find stressful. But freelancing can remove some of the stress of only having a single source of income.

Fact: 76% of freelancers are happier freelancing than they felt while working traditional jobs.

Myth 8- Freelancing is unsustainable

It has provided the foundation for many great as well as long jobs that are enduring and it would be wrong to believe that it’s unsustainable. An open and optimistic mindset stands you in good stead being a freelancer.

Fact: 92% of freelancers expect their work opportunities to continue to increase.

Myth 9- You need connections to fetch work

The best way used to get work is by reaching out to companies and sharing your work. In the process, you meet a lot of people and that’s why it is believed that “you have connections”. Freelancers develop new connections in the span of their careers and do not come into the field with connections.

Fact: Over 69% of freelancers thank technology for making it easier for them to get jobs through digital platforms.

Myth 10- You need to have a business background to flourish in one in the future.

Freelancers learn something new every day and having a business background is neither a prerequisite nor a guarantee for you to have a successful business of your own. It’s your work, knowledge, and efforts that will matter.

Fact: 65% Of companies are recruiting millennials for new skill sets.

We hope to have cleared some misconceptions about freelancing and give you a better understanding of the whole concept. We’ll be happy to guide you better, to know more join us now

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