Freelancers bringing home the bacon
Filed under: Career, Recession
No more discounted dental or a 401k match. No more access to an office vending machine selling Coke for 50 cents. And bye-bye color copier.Those were the days working full-time at Thestreet.com. Since getting laid off in March it's been hard to say goodbye to those lovey-dovey corporate perks.
But don't feel sorry for me. As a new member of the freelance economy I am actually working more now and even (don't hate me for saying this) turning down some projects.
I've gone from unemployed to self-employed. I'm happy. And I'm not alone.
Sarah A. Needleman's great piece in the Wall Street Journal (subscription required) today about "Negotiating The Freelance Economy" captures the big picture. She describes the fast rise in freelance opportunities in the recession, since it's cheaper to employ part-time or contract workers without health and retirement benefits.
In fact, one freelance worker is so busy with projects she has the luxury of "doing just the fun stuff" with no immediate goal to return to the full-time workforce. She works in web-optimization, but as the article explains, it's not just web and software wizards and graphic artists who are making out well. Everyone from accountants to lawyers, sales reps and journalists are joining the new freelance economy. Jobs posted at work-for-hire sites like Elance.com and Odesk.com are surging compared to the same time last year.
Don't get me wrong; freelancing is not a perfect world. I had to get over some insecurities and annoyances, like "How should I afford health care? COBRA, individual policy or Freelancers' Union?" "How much time can I spend working at Starbucks before they start charging me rent?" and "What to put on my new business cards?"
Some parting advice for the full-timers out there who think they could never enter the freelance economy, that it's too scary: Start making some income for yourself on the side. Ease into the freelance world by taking on a part-time, once-in-a-while gig that you enjoy. That's how I did it. I've always freelanced articles and worked on side projects throughout my full-time working career.
Do you speak a second language or have an A in statistics? Tutor. Have a passion for writing? Freelance some articles locally. Love to garden? Offer to landscape this summer on the weekends. Catering, web design, direct-sales, you name it. A lot can be done in the evenings and on weekends. You never know what your side job might lead to. At the least, it may be something to fall back on part-time if you lose your full-time post this year.
And at this rate, with so many freelance openings, you'll likely make enough to pay up for teeth cleanings and color copies.



Reader Comments (Page 1 of 1)
5-17-2009 @ 1:02PM
JMalmstrom said...
Nice article, Farnoosh. I've been an off and on freelancer for most of my 30 year career (I'm freelancing now, and have been since 2004) and am often asked to give advice to folks considering jumping the 9 to 5 ship. Here's a great perspective to keep in mind: Freelancing is actually more stable than the corporate world. Thing about it. If you've got 10 clients, and you loose one, your income drops just 10%. Work for GM and they lay you off (even if you're doing a great job and your boss loves you) and your income is cut 100%. Don't put all your eggs in one basket. For more original rationalizations and contrarian logic, join the fun at http://www.planetcheapskate.com where we say, "Spend Less. Live Well."
Reply
5-14-2009 @ 4:30PM
J.B. said...
Donald Trump & Robert Kiyosaki say they'd join a Network Marketing Income Opportunity to build wealth quickly. For those of you looking for an income opportunity with high commissions, high profits, with low start up cost, low hours, no selling, and an honest parent company. Call 800-934-3473 Ext. 6831
Reply
6-28-2009 @ 4:39PM
Cathemh88 said...
Thanks for the advice, I have been thinking of ways to make some extra money on the side and this will help me achieve that goal.
http://movinonuptogether.blogspot.com
Reply