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Freelancing is Taking Over and Here’s Why
Watching my local news a few days ago, I was astounded to learn that the minimum wage in Pennsylvania (my home state) has been $7.25 for the last ten years. Yes, you read that correctly. Ten. Years. Seven dollars and twenty-five cents.
Actually, the federal minimum wage across the United States is $7.25.
In Canada, the minimum wage is steady at $11/hour, give or take.
In the UK, the revised National Minimum Wage rates that will also take effect on 1 April 2018 are: Workers aged 21-24 to increase from £7.05 to £7.38 per hour. Workers aged 18-20 to increase from £5.60 to £5.90. Workers aged 16 and 17 to increase from £4.05 to £4.20.
I cannot believe that it is 2019 and people are still expected to survive on this amount.
Sure, it’s fine for a high school or college kid.
But an adult with real bills and/or a family… this just isn’t going to cut it.
I’m not here to offend/judge anyone who works for minimum wage- you gotta do what you gotta do, and we’ve certainly all been there.
And I am definitely not here to argue whether or not we should be increasing it.
We should. But that’s not what this article is about.
This is about showing you that there is another way.
Here’s another statistic for you: Freelancers now make up 35% of America’s workforce.
That might seem like a low number, but you might begin to understand its significance when you read this:
NEW YORK and MOUNTAIN VIEW, Calif. – October 17, 2017 – Upwork and Freelancers Union today released the results of “Freelancing in America: 2017” (FIA), the most comprehensive measure of the U.S. independent workforce. The fourth annual study estimates that 57.3 million Americans are freelancing (36 percent of the U.S. workforce) and contribute approximately $1.4 trillion annually to the economy, an increase of almost 30% since last year. Full study results are available here.
Most notable findings reveal:
- Freelancers are better prepared for the future – As work changes, 54 percent of the U.S. workforce said they’re not very confident that work they do will exist in 20 years. Reskilling is therefore critical. 55 percent of freelancers participated in skill-related education in the last six months versus only 30 percent of non-freelancers.
- The majority of the U.S. workforce will soon freelance – At its current growth rate, we will reach this milestone by 2027.
- People are increasingly freelancing by choice – Asked whether they started freelancing more by choice or necessity, 63 percent of freelancers said by choice — up 10 points (from 53 percent) since 2014.
- Stability is being redefined – Freelancers increasingly think that having a diversified portfolio of clients is more secure than one employer (63 percent agree, up 10 points since 2016) and have an average of 4.5 clients per month.
- While finances are a challenge for all, freelancers experience a unique concern — income predictability. The study found that, with the ebbs and flows of freelancing, full-time freelancers dip into savings more often (63 percent at least once per month versus 20 percent of full-time non-freelancers).
Source: Freelancing in America
It is incredibly rewarding, but it’s also hard as hell. Freelancers must be diligent, patient and hardworking. You must have excellent time management skills and a strong work ethic.
Here’s the key: find a way to make money doing something you genuinely enjoy and are good at.
If you can work for someone else doing something you love and be compensated well for it, I say go for it. But if you’re like me, doing freelance work is more lucrative than a 9-5.
If you can’t think of anything you’re particularly good at, that’s okay! It took me a long time to figure out what I am good at.
I also think once you realize you’re really skilled at something, you just naturally enjoy doing that thing.
Once you figure out what it is you’re good at, the rest will come.
Don’t get me wrong, you have to put in a lot of work and you have to be willing to be patient. Those first clients aren’t easy to come by, but once you get them you’ll realize how worth it freelancing actually is.
It’s like a breath of fresh air, being able to sit down at your desk in the comfort of your own home and work on something that you truly enjoy.
The secret to being successful as a freelancer is that there is no secret. You just start. Start where you are, with what you have and don’t give up.
There’s no magical formula or combination for being successful at freelancing. Maybe some of it is luck, but most of it is hard work and a fierce determination.
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