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Freelancing can be exhilarating! Liberating! Life enhancing! Deeply satisfying! And it can also be downright scary. Here are five fears that often make freelancers lose sleep, with suggestions on how to tackle them.

1 – The work will run out

This fear can tempt you into taking work you don’t want, don’t have time for or can’t really afford to do.

2 – I’m not making enough money

Obviously, some of the suggestions above for finding more work may also help you earn more money. However, it’s worth asking yourself why you chose to freelance in the first place. Was it for greater flexibility, more money or more opportunity? The rewards of freelancing aren’t always monetary, so a lot depends on why you started it.

Has it provided what you were looking for and if not, can you identify why? If you needed more money, and that’s not happening – or you’re not earning enough to live on – it’s time for some analysis. Firstly, how much money do you need? If you’re genuinely not earning enough, then how could you make more money?

Could you:

If none of these solutions work, I regretfully direct you to fear number 5.

3 – I’m not good enough

It’s easy to compare yourself to others and convince yourself that they’re all more skilled or qualified than you, but chances are, this isn’t true.

4 – I’ll price myself out of the market

Every freelancer has had this fear at some stage. They wonder how much other freelancers are charging, how others can afford to live on what they charge (do they work more quickly?), and if their clients will bear in mind that their earnings have to cover insurance, sickness, holidays, the cost of premises or working from home…

5 – I’d be better off finding a job

Sorry, but sometimes this is true. We’re not all cut out for the freelance life. Some people find there’s just not enough freelance work to match their skills, or find the lifestyle too stressful, citing the uncertainty, the feast and famine, the doubts that beset them when they begin a new project or start work for a new client. They feel pressured by the need to promote themselves, set their own prices and constantly seek work.

 

About The Author

Karl Bilby

We work very closely with our expert accountants to bring you the latest factually correct tax and accounting news. We also enjoy writing about small business news that we hope you find useful!

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