I have heard this question numerous times in different versions.
And although the question is asked with so much simplicity as if to deserve either a yes or no answer, there is more to it than meets the eye.
Freelance writing is great!
In the past decade, the freelancing industry has grown in leaps and bounds.
An aspect that can be attributed to the numerous advantages the industry offers freelancers.
Freelancing offers you freedom to manage your schedule as you desire an element you do not get from employment.
Also, with commitment and hard work, freelance writing can earn you the income you earn from your job or even more.
Besides, you get to work on a variety of exciting projects and to practice a skill that you are good at while earning income from doing something you enjoy.
So, yes, freelancing is a great career prospect. I am saying this as a person who has had a successful freelancing career in the last five years.
I have been able to earn a sustainable income that allows me to cater for my needs and save some money for investments. In fact, my life is envy to many people around me.
However, do not quit your job yet!
If you are in full time job is, we both agree that your job is an essential part of your life. It is your main source of income for you and people you support.
Although you are excited and set out to pursue a career in freelance writing, better yet you are passionate about it; it comes with its challenges.
When I first started in freelance writing, I must admit I had a rough year. With barely enough income to survive on it was quite tough.
I can only imagine how worse it can get especially for a person taking care of a family or with other major responsibilities.
Therefore, before you quit your job, consider that you meet the following conditions:
- Get familiar with the freelance writing industry
You need to get a clear understating of the model of operation, the ups and downs of the industry and the basics. This can be achieved by working part-time as a freelance writer.
It may take 6-12 months especially for total beginner to get acquainted with the various writing styles, basics of interacting with clients and being able to get clients.
The freelancing industry has what we refer to as famine and feast phases. During the feast season there are numerous clients hence numerous work and income.
On the other hand, the famine season is marked by few jobs or at times no jobs hence low income.
The famine season often kicks many beginners out of the industry.
One can manage these challenges by saving during the feast season and always marketing to build on a sustainable client base.
- Ensure you are making at least 75 percent of your income in the freelancing job.
If you can be able to make ¾ of your current income through freelance writing before you quit your job, there is a high likely hood that you will double you income if you quit to purse freelance writing fulltime.
It also means, you will be able to effectively cater to your financial needs during the transition.
With ¾ of your salaried income, you can cater for all your basic needs without strain.
It can also come in handy as you can save up the money you make part time to cushion you financially during the transition.
- You have 3-6months savings
Your savings should cater for your operational needs for at least 3months. This ensures that you are on the safe side in case of any challenges when building your career.
For instance, in case of a sickness that may prevent you from working, your savings will supplement for your financial responsibilities.
- You are able to effectively manage your time
Working for yourself requires stringent time management.
This can be a challenge to achieve especially because spending time at home can expose you to many distractions from kids, TV and house chores.
For a successful career, you must be able to deliver quality projects on time.
Notably, unlike going to work, working at home can be de-motivating since there are no other people around to motivate you into the mood.
- Develop a plan
Don’t just flow with the waters, develop a concrete plan. Come up with goals, contingency plans and stick by them.
Did you quit your job to become a freelance writer or venture into any other freelance career?
How did you go about? Did you encounter any challenges and if so, how did you overcome them?