Freelancing Explained
What is freelancing?
Your grandparents hear that your friend is a freelancer, and think they’re unemployed. How can you explain so they understand?
Simple.
Freelancing is working on a contract basis directly with clients rather than working for a particular employer (job) long-term.
four different types of freelancers.
- Side project freelancers have a part/full-time job and use freelancing to supplement their income after their day job. They are often in the phase of starting their freelance businesses and hope to turn it into a full-time freelance lifestyle.
- Full-time freelancers: are those that work as a freelancer completing a different project for a number of clients. They often work from home or from shared office spaces and charge an hourly or project rate for their time.
- Single contract freelancers: work for one client at a time for a fix term contract. This is a great way to go if you want to work certain months of the year and have set breaks. This can be difficult because you only have one income source (or client) at a time which can make it difficult to manage your cash flow over the year.
- Freelance business owners: have leveraged the opportunities presented to freelancers for business growth. Although they still undertake some traditional freelance projects they have found ways to create more passive streams of income in their business.
