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- Jan 17, 2023
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In the last months I could notice some threads about "freelancing" in this forum and I could read out that there are some people - to my surprise - who consider my way as a freelancer as "great" or "worthwhile".
In the course of this thread, I would like to clarify a few things from my perspective as a freelancer, after a rather drastic event took place in my case last week, which is also a kind of mental reappraisal of this topic for me. Briefly about my journey so far and why I am here:
School --> Slowlaner (Job) --> University --> Slowlaner (Freelancer) --> Transition to Fastlane (current)
The main reason why I considered freelancing was purely economic. Nothing more, nothing less. The reason (example):
Then some time ago I dedicated myself to the book TMF and very much questioned my status quo as a freelancer. I knew I needed to change something, but didn't know how yet. A few weeks ago, I created a thread here on this forum looking for help on how to get towards Fastlane in addition to my freelancing. Terrific ideas came from MJ himself and other great forum members, all of which I took to heart. I decided to drastically reduce the days I freelance to focus more on my Fastlane project.
And how well does this approach work so far?
Little to none. And this is exactly where I would agree with everyone else who doesn't recommend freelancing as an alternative to a job either. Not only because of the seven points I already mentioned, but also because of the fact that you never really find proper time to push the essentials: Starting a fastlane business. Maybe it's just me, but running both things in parallel doesn't work. I tried to make it clear to my customers that I can only be available for them on a certain day. The output: They don't give a shit. If they have a problem, they will contact me on a day that doesn't suit me. After all, they spend money on my services and therefore have a certain claim. I am the problem, not the customer.
So last week I decided to quit freelancing altogether, because it seems to be the only plausible way for me to really take care of my Fastlane business.
Of course, you could argue that freelancing also gave me the skills I needed for Fastlane, and it did to some extent. But if I could turn back time again, I would start a Fastlane business right away and do without the freelance crap. Instead of trying or failing and learning what works and what doesn't for two years, I put the time into what at the end of the day is actually a risky endeavor as well (it's not as easy as some think to just be a successful freelancer overnight, let alone get to a full-time income level with it). I definitely wouldn't do it that way again, but am looking positively towards the years ahead.
I would like to highlight @Kak 's thread here again, as I also think that it really makes little to no sense to be a freelancer first and then start your Fastlane business. Also I think that freelancing really has nothing at all to do with entrepreneurship (see point 7) and also I would find it a pity if more and more threads about this topic (e.g. "Is freelancing worth it?") are created.
NOTABLE! - HOT! - IDEA - You Don’t Have to be a Freelancer
If now the question still arises, how I make my living:
In the course of this thread, I would like to clarify a few things from my perspective as a freelancer, after a rather drastic event took place in my case last week, which is also a kind of mental reappraisal of this topic for me. Briefly about my journey so far and why I am here:
School --> Slowlaner (Job) --> University --> Slowlaner (Freelancer) --> Transition to Fastlane (current)
The main reason why I considered freelancing was purely economic. Nothing more, nothing less. The reason (example):
- Salaried hourly rate: $20 x 8 hours daily x 5= $800 for a week of work.
- Freelancer hourly rate: 100$ x 8 hours daily = 800$ for the same output (800$ for one day of work, where I would normally have to work a week at the job).
- It took me over 2 years to get to this point
- I don't have/had ONE boss, but several, who got on my nerves
- You are constantly contacted, even if your business hours are from X-Y; the customer doesn't care at all
- You constantly have to justify yourself for certain other activities (like charging for point 3); customers only want to pay for the operational service, but not for things like support or queries
- Your performance is often not valued at all (you are just a part of a project and have to bring economic benefit, that's it!)
- You can never really switch off (my pricing model was on retainer basis, this is not necessarily the case for every freelancer, but I wanted MRR and clients mostly didn't care about my vacation (not everyone either, but some)
- You realize that you actually created a job that was initially considered better, but got worse as time went on
- ...
Then some time ago I dedicated myself to the book TMF and very much questioned my status quo as a freelancer. I knew I needed to change something, but didn't know how yet. A few weeks ago, I created a thread here on this forum looking for help on how to get towards Fastlane in addition to my freelancing. Terrific ideas came from MJ himself and other great forum members, all of which I took to heart. I decided to drastically reduce the days I freelance to focus more on my Fastlane project.
And how well does this approach work so far?
Little to none. And this is exactly where I would agree with everyone else who doesn't recommend freelancing as an alternative to a job either. Not only because of the seven points I already mentioned, but also because of the fact that you never really find proper time to push the essentials: Starting a fastlane business. Maybe it's just me, but running both things in parallel doesn't work. I tried to make it clear to my customers that I can only be available for them on a certain day. The output: They don't give a shit. If they have a problem, they will contact me on a day that doesn't suit me. After all, they spend money on my services and therefore have a certain claim. I am the problem, not the customer.
So last week I decided to quit freelancing altogether, because it seems to be the only plausible way for me to really take care of my Fastlane business.
Of course, you could argue that freelancing also gave me the skills I needed for Fastlane, and it did to some extent. But if I could turn back time again, I would start a Fastlane business right away and do without the freelance crap. Instead of trying or failing and learning what works and what doesn't for two years, I put the time into what at the end of the day is actually a risky endeavor as well (it's not as easy as some think to just be a successful freelancer overnight, let alone get to a full-time income level with it). I definitely wouldn't do it that way again, but am looking positively towards the years ahead.
I would like to highlight @Kak 's thread here again, as I also think that it really makes little to no sense to be a freelancer first and then start your Fastlane business. Also I think that freelancing really has nothing at all to do with entrepreneurship (see point 7) and also I would find it a pity if more and more threads about this topic (e.g. "Is freelancing worth it?") are created.
NOTABLE! - HOT! - IDEA - You Don’t Have to be a Freelancer
If now the question still arises, how I make my living:
- In exactly 10 weeks the last open invoice will be paid and at the same time the last retainer will expire.
- I have "saved" a certain buffer for this project, which covers my fixed costs and also allows me to make business investments - even if only small ones.
- If the lean period is too long, I will think about something, I can think of something (10h per week mini-job or a one-off project now and then).
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