Fwd: Which is better for you: freelance or full-time?

Hey,
With 54 million Americans (and counting) freelancing, it's clear that many are deserting offices and turning to self-employment. With coding skills, it is easy to freelance. However, that life is not for everyone. A common question I receive is how to know which one is right for you.
So today, to help you decide, here are some pros and cons of each.
Freelancing
Pros:
  • Freedom to choose who you work with
  • Flexibility over your schedule
  • Ability to work from anywhere
  • Freedom to choose individual projects, which relates to more creativity and increased variety in the work you do
  • Potential to earn more than what you would make with a fixed salary
Cons:
  • Income tied to how many clients you can handle (and their budgets)
  • No work-sponsored benefits
  • If working from home, isolation or difficulty separating work/home life
  • Increased responsibility (tracking payments, collections, taxes, organization, marketing your business, etc.): you need self-discipline
  • Client relationships and expectations can change drastically from job to job
Full-time
Keep in mind that full-time jobs can vary depending on the company!
Pros:
  • Health insurance, paid vacation, and other perks
  • Stable, reliable income
  • More regular positive reinforcement
  • Paid training
  • Predictable and consistent expectations
Cons:
  • You work for someone else
  • Less flexibility and freedom to choose your schedule
  • Pay increases are limited
  • Commuting is a waste of time/money
But… why not both?!
Here's an idea you possibly never considered: why not do both? If you don't want to ditch your stable FTJ, but want to experience what it's like for yourself, consider freelancing while working full-time.
Here are some reasons why you should consider it, inspired by my pal Ryan Robinson.
  1. Test out working for yourself stress-free
  2. Increase your income with supplemental work
  3. Build your skills in a way your full-time job doesn't allow
  4. Craft your personal brand
  5. Develop valuable connections
Yes, you'll be sacrificing evenings and weekends for a while--but you'll be able to figure out which you prefer, and start building your own client base (and your confidence) while still retaining your safety net. Start off slowly to avoid burnout (maybe trade an hour a day of TV for an hour of freelance work), then ramp it up as you become more comfortable. As you watch your business grow, you just might find that you're hooked.
Best,
- Laurence
PS - Thinking about going freelance? Check out my *new* in-depth guide about how to start freelancing. Click here to see it.

Popular posts from this blog

Fwd: 4 ways to advance your tech career

Image
By now you may have noticed that there's not just one single route into tech. Loads of techies are self-taught, some study computer science at college, and others go to intensive bootcamps. Whether you're learning to code, applying for jobs, or starting your own business, there are loads of different strategies you can try. Today I want to highlight four approaches you can take to advance your career.  1. Look for opportunities within your current workplace In episode six, I spoke with Christie Pitts. Christie began working at Verizon twelve years ago as a customer service representative. Today she's a venture development manager at the same company. Listen to our conversation to hear how she progressed within the company. 2. Code every day for 100 days In episode seven, I spoke with Alexander Kallaway. Alexander is a front-end web developer and the creator of the #100DaysOfCode movement. Listen to our conversation to he...
Read more

Fwd: options for app developers (web, desktop, mobile or cross-platform)

Image
Hey, If you're diving into app development for the first time, it can be difficult to know which platform you should be writing for. This week's sponsored post is from Geoff Perlman of Xojo. In it, he lays out the pros and cons of each platform, and lets you in on how to develop for all of them at once. Click here to read the full sponsored post. Here are the main takeaways: Desktop Apps - These normally provide the richest (and fastest) user experience, but they're not great for apps that people want to use immediately. Web Apps - These solve the problem of users wanting to use the app immediately, but they're at the mercy of your users' Internet speed. Mobile Apps - Fast, responsive, easy to install... but there's not a lot of screen space to work with. That means mobile apps are best suited to "dashboard-type" apps that display the status of something without being super interactive. Cross-Platform Development - Cross-platfor...
Read more

Fwd: 4 ways to fast-track your success

Image
Recently I've been hearing from a lot of LTCWM readers who want to know how to speed up their progress. Some of you have been job hunting and want to know how to get your foot in the door sooner rather than later. Others have just started coding and want to know the most efficient way to reach their goals. Of course, there's no substitute for putting in the work, but there are a few ways to fast-track your progress. Here are some of the approaches that we've been talking about on the podcast recently... 1. Learn to negotiate. If you're applying for jobs, one way to get ahead is by negotiating a higher wage. If you already have a job, you can ask for a raise instead. In episode 14, I spoke with Alexandra Dickinson. Alexandra is the founder of Ask For It – a consulting company that gives people the skills and confidence to negotiate. In our interview, she shares her top tips for negotiating a higher salary. Learn how to negotiate a higher wage. 2. Gro...
Read more