adventures in freelancing: the biggest downside of freelancing

Lately, especially with the recent wave of tech layoffs, I’ve seen more people express an interest in freelancing. A lot of software developers have begun reaching out to me excited to start their freelance journey. While it’s great to see more people exploring options beyond traditional employment, it’s important to recognize that the grass is not always greener. Many freelancers neglect to show the negative aspects of the experience, which then paints an unrealistic picture for people coming after them. In reality, no matter where you go, there will always be weeds. Freelancers should be clear and upfront about the downsides so that aspiring freelancers can make informed decisions based on what’s right for them, which is what I’ve set out to do in this article.

The biggest downside with freelancing is that it will always be another job – in other words, any freelancer is trading their time for money just like a full-time employee. But unfortunately as a freelancer, you are your business.

In The E-Myth Revisited by Michael E. Gerber, the author discusses the difference between a business owner (entrepreneur) and a freelancer (technician). A business owner’s goal is for their business to be able to run smoothly and ultimately to survive without them. In the future, the owner should be able to sell their business if they’d like or take on a different, less hands-on role without it negatively impacting the business at all. However, the opposite is true for freelancers, unless they decide to expand into an agency and move into a managerial role.

Here’s a passage from The E-Myth Revisited highlighting the issue with being one with your business:

"’What if you don’t want to be there? What if you’d like to be someplace else? On a vacation? Or at home? Reading a book? Working in the garden? Or on a sabbatical…? Isn’t there any place you would rather be at times than in your business, filling the needs of your customers who need you so badly because you’re the only one who can do it?

‘What if you’re sick, or feel like being sick? Or what if you just feel lazy?

‘Don’t you see? If your business depends on you, you don’t own a business—you have a job.’"

This isn’t to dissuade anyone from pursuing freelancing – it definitely works for some people, but most people are unaware of the distinction between owning a business and being your business. When I see people considering branching into consulting or freelancing, I usually try to ask them what other options they might consider. For example, if you are interested in teaching people how to use a specific software or platform, is there a way to turn that into a course? The course could be sold at any hour of the day and wouldn’t rely on you being available to teach at any given time, thus separating your business from yourself. Is there any way to take a repeat task, streamline it, and offer that instead?

Freelancing can be a great opportunity for a lot of people, but don’t forget that at the end of the day, it’s just another job.