Is it really a good time to go freelance?

We’ve probably all heard the stories about amazing inventions or innovations that took place following the 2008 financial crash.

A lot of people make the choice to go self employed due to necessity during these periods, or after losing their jobs. Unfortunately, a lot of jobs are likely to be lost over the coming months, meaning the numbers of self employed will also likely swell, as many think ‘hey, I’ve got nothing to lose, now is the time to give freelancing a shot‘

Recessions also seem to cause a loss of faith in the established way of doing things, as the systems we’ve relied upon fail.

Look at two of the major innovations, which emerged from the ruins of the 2008 recession. Both AirBnB and Uber both launched in this period, shaking up their industries to the core, and challenging the old, dated way of doing things.

As with any crisis in history, you will always see some people finding a way to succeed despite it, or even because of it.

Recessions push people out of their comfort zones

Comfort is always the enemy of innovation, and even growth. Far too many of us stay in comfortable, unchallenging jobs, when we could be achieving so much more.

While freelance isn’t for everybody, going freelance will push you out of your comfort zone. it will challenge you and stretch you – but that is exactly why it’s such an exciting, liberating way to live.

You are responsible to nobody except for yourself. So you need to find the drive and determination to turn up every day.

I really believe that now is an unbeatable time to go freelance – unless you are in a secure, well paid job that you love.

If you have the right mindset, and a willingness to adapt to the situation, 2020 is an excellent time to go freelance. You can make use of excellent software, and the increased acceptance of remote working from mainstream business.

Here are a few other reasons why I think that:

  • Costs are being cut – or will soon be cut – at most businesses, and previously secure jobs are unfortunately under threat. The numbers of people in standard jobs are likely to fall over the coming months and years, but the work will still be there. That’s why demand for freelancers is likely to rise.
  • Many workers have also seen their sense of normal challenged. Many people are deciding that they would rather have more flexibility in their lives, to spend more time with family, and feel more in control of their own lives.
  • The software and technology available to help freelancers and the self employed is so much better than even a few years ago, and makes it easier than ever to get set up. Many ideas need minimal investment to get going with.
  • You can easily set up a side business while continuing to work your normal job. This is a great way to build security in these uncertain times.
  • Lockdown has had many effects, mostly bad, but some good. Many people and businesses have learned that they don’t actually need offices to function, and that face-to-face meetings are often not needed. This is going to make freelance life a lot easier, as clients are realising that they can access great talent remotely and easily.
  • The shift towards freelancing was already gaining pace, and was one of the fastest growing business sectors. It’s set to skyrocket now.

So while it’s always ultimately a decision that you will have to make depending on your own circumstances, I do believe that going freelance now is a great option for many.

What do you think?