Choosing between being a freelancer or a business owner

When making firm decisions, it is vital to look, perform an in-depth evaluation, and critically analyse all the possible threats and risks bound to occur. Similarly, when deciding on which path to pursue, it is relevant to take some time and list all the pros and cons of various options at hand. For instance, you may be at a cross road when deciding to pick a single option from a duo of your favourite jobs. When in such a dilemma, relax, and be ready to list all the possible reasons why you should drop one and pick the other. For instance, you may have a dilemma of choosing between being a freelancer or a business owner. Below is a guide to assist you make a prudent decision.

Benefits of being a freelancer

In most cases, most individuals tend to work in jobs they never anticipated and end up living a boring, stressed, and forced work environment. However, being a freelancer grants one the opportunity to choose the job that fits the niche or personal interest. Being in such an occupation allows one to live a vibrant life where choices and consequences depend on the individual. Being a freelancer grants one the opportunity to choose what to do, when to do it, and how to do it. After all the glory of getting great results comes back to the individual. 

Freelancing opportunities

Currently, there are thousands of freelancing opportunities available to the willing candidates. The opportunities are more entrepreneurship targeted and require one to be pro-active to succeed in this field. The opportunities increase on a daily basis as more companies need online services as well as individuals who wish to have their online presence felt. Some of the freelancing opportunities include; 

Online writing

People need to be kept up to date with the happenings. There have emerged many websites and blogs that require content to educate and inform people on various topics such as fashion, beauty, healthy living, entrepreneurship and marketing, education, technology and many other. Being knowledgeable in any of the topics listed above grants one the opportunity to work from home and a good salary if engaged on a full-time basis. More information is needed, and more workforce is required making it an ever employing field which requires basic education on the topics.

Online trading

Online trading has become the most lucrative freelancing opportunity that many are eyeing for and wish to take part. The online trading requires one to have a basic understanding of foreign exchange, analysing stocks, and a know-how of when to buy or sell according to the market trends. Many companies such as CMC Markets have come up with great online trading tools that have simplified user interface to assist individuals to trade and make money online. 

Challenges of being a freelancer

At times it gets hard to plan when to execute a certain task without supervision. Although one can work when he feels like it, most of the time it leads to failing to perform some tasks, which then leads to low income. Self-discipline is a must to make it in a freelancing world.

Benefits of becoming a business owner

Owning a business is everybody’s wish as the profits gained are not shared, and the profitability of the business depends on individual decision making. If the business grows, the business owner gets entitled to more profit and global or regional recognition. When starting a business, most individuals go for the niche they feel comfortable and can afford to run the business efficiently. If it fails, its always good to build up your portfolio.

Challenges of being a business owner

Capital has always been the major factor prohibiting many from starting their own business. Without capital, getting starting stock and registering the business becomes impossible. During the start-up period, the business is faced with many challenges such that many businesses close prematurely within the first three months. Also, in case the business incurs losses, it all goes down to the business owner who then gets engraved by individuals he owns money. Other than this, the business may be faced by natural calamities, which most of the times are not insurable.

When choosing whether to be a freelancer or a business owner, it is advisable to check all the benefits, challenges, and risks attached and conclude wisely on the choice to make.

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