Freelancing in Hard Times

It seems like half the articles I read this morning had at least a mention of people cleaning out their desks. It made me happy to be a freelancer.

Right now, I have more work than I can really handle. I think that I might have a little less in the months to come, but I’m pretty confident of my financial position than I think I would be if I worked for an employer full-time.

First of all, if something happens to one of my freelancing gigs, I only lose a percentage of my wages — and it’s easier to find a couple hours of work than a full-time job. Second, as big companies lay off employees they often turn to freelancers and contractors to pick up part of the slack. As a rule, we’re a cheaper way to get work done — and even if there are no full-time employees, there’s still work that must be finished.

This may not be a bad time to start your own business. Sure, venture capital and other investments are tight now (and are probably going to get worse). If you pick a business that doesn’t require start-up capital, however, your chances for success are still pretty good.

If you’re not sure what your employment future looks like, I encourage you to invest some time now in exploring your entrepreneurial opportunities. While I’m personally fond of freelance writing, I know it’s not the ideal business for everyone. But if you can get a head start on planning your future, a pink slip might actually wind up being welcome.

3 Comments

  1. Andy   •  

    Some great thoughts here. Diversifying your income streams (and even skills) is a must in today’s economy. I have also noticed a number of new blogs coming online lately, I just hope people are realistic about making money online and just like a real job it does take work.

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