The Good, the Bad, and the Ugly of the Freelancing and Independent Contracting World

The gig economy and independent contracting have now become a legitimate career choice for Filipinos. Before the COVID-19 pandemic, freelancing was an afterthought to many, as office life and the daily commute have everyone preoccupied, only realizing the potential to earn more during the lockdown period.

Now, more people are risking it all–going full freelancing with the mindset that everything will be okay. However, just like any other business, freelancing is a roller coaster ride, with good, bad, and ugly moments.

Here are some of the great, the not-so-great, and the worst possible things you may experience as a freelancer or an independent contractor:

Good: Embracing the Digital Nomad Lifestyle – and its Connectivity Challenges

As the Philippines entered digitalization which unfortunately needed a pandemic to serve as a catalyst, digital nomadism has emerged as a tantalizing lifestyle choice for freelancers now that the lockdown period is far in the past. The allure of working from anywhere, whether it’s a beachfront villa or a cozy café in a paradise like Siargao or La Union, is undeniable. Imagine working for a couple of hours, only to be greeted by the sound of waves crashing to the shore once you step outside your accommodation. As someone who had the opportunity to blend work and play before, it truly is a feeling unmatched by any corporate workplace or Friday pizza party.

However, this lifestyle isn’t without its challenges. One of the foremost issues digital nomads face is connectivity. While you can work from virtually any location, it’s essential to prepare ahead for possible connectivity issues. To ensure uninterrupted work, make it a must to book accommodations with fast and reliable Wi-Fi.

Additionally and for your own sanity, research co-working spaces in the area you plan to visit that offer high-speed internet, providing a backup plan should your primary connection falter.

Bad: The Jack of All Trades Dilemma

The digital landscape offers an abundance of opportunities for freelancers. Yet, the age-old saying, “Jack of all trades, master of none,” still stands true. While it may seem tempting to dabble in various fields to maximize your income potential, the reality is different.

Freelancers who earn the most and build a solid reputation are the ones who have mastered a specific craft. If you’re not keen on constantly upskilling or expanding your expertise, it’s advisable to find a niche and stick with it in the meantime. Attempting to offer services across unrelated industries, like marketing for a food and beverage company when your expertise lies in social media assets for life coaches, can lead to dissatisfaction and subpar results due to your lack of industry knowledge.

Ugly: The Feast and Famine of Freelancing

Freelancing offers undeniable freedom and flexibility, however, it is technically a business, and just like any other business, it’s essential to accept that there will be profitable times and downtimes. There will be periods of abundance and times when work is scarce.

You might experience days, weeks, or even months without a client. To navigate these inevitable downtimes, it’s crucial to save a considerable amount during periods of steady income.

Building a good amount of savings will give you peace of mind during lean months, allowing you to focus on upskilling, marketing your services, and seizing new opportunities when they arise. Freelancing isn’t a constant feast; it’s a journey that demands resilience and prudent financial planning.

Social media always paints a picture that freelancing and independent contracting is a paradise where all is good, sadly, this is not the real case with reality. Freelancing is a nitty gritty type of business and is not for everyone. Should you consider jumping career paths and entering the volatile and unpredictable world that is freelancing, consider these scenarios. (GFB)