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How to Know When Your Freelance Business Can Sustain You Full-Time

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When people find out that I freelance, their curiosity piques. Some folks don’t quite understand why I’m not a part of the daily grind. Others, however, are more interested in how I got my start and when I knew I would be able to do this full-time. I am not going to write a memoir here. But, I got into freelance writing during my last year of college. A friend was managing a website and I asked if I would write blog posts to make a couple of extra bucks. It was a part-time gig. And, the pay wasn’t great. It did, however, give me some pocket money. After school, I wrote even more content. I also expanded my network. And, a funny thing happened as I was looking for a “real job” — I really liked freelancing. I never intended to go do this part-time. But, I thoroughly enjoyed writing and the flexibility. I also dug how I had control of my career. I make my own decisions, like which projects and clients to work with. So, I kept at it. Over the years, I landed new clients, charged higher rates, and was able to make a living from freelancing. How to Know When Your Freelance Business Can Sustain You I would be remiss though if I didn’t mention the drawbacks. It can take years for you to build a full-time income. Work can also fluctuate, which means you might have an irregular income. You may also have difficulty managing multiple clients or projects. And, there will be times when you have to work on projects you aren’t passionate about and deadbeat clients . Despite these challenges, I love freelancing and am grateful that I can do this full-time. But, I’m clearly not the only one feeling this way. Because of the pandemic, more people have jumped on the bandwagon. In fact, over the last year, 59 million Americans freelanced — this represents 36% of the total U.S. workforce. And, even if some people had to pause their freelance business, 88% of respondents said that they are likely to freelance in the future. I can see the appeal. In addition to the benefits I’ve already covered, freelancing can be a great way to add a new income stream. You can use the money you earn to pay down debt, stash into an emergency fund, or generate extra income during retirement. And, thanks to the flexibility, you can do this whenever you have free time. With that in mind, if you want to give freelancing a chance, go for it. Who knows? You might be able to sustain yourself full-time. How do you know when this can happen? Well, here are 8 telltale signs. 1. You can’t stand your day job. One of my cousins is a graphic designer. He occasionally freelances on the side. But, if he wanted to, he could probably set out on his own. Why doesn’t he? Because he loves his job. When he freelances, […]

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