Virtual jobs have been on the rise over the past decade, and there's a lot of freelancers, also known as digital nomads, everywhere and anywhere in the world. Living a life of a freelancer is indeed enticing to many people because of so many benefits. For one, and probably one of the main reasons why people shift to freelancing is that they don’t have to battle the traffic anymore day in and day out. They don’t even have to wake up very early to take a shower, take breakfast, put makeup on (for women), etc. etc., because their computer is just a few steps away from them.
Another great thing about working as a freelancer is that you get to spend more time with your family while still being able to earn. And if you’re lucky enough to be on a flexible schedule like I am, there’s a whole lot more you can do at home in between working. You can even work anywhere you like, as long as you take your laptop with you so, traveling is just one of the perks of freelancing. But this kind of job is not always a bed of roses because it also comes with a lot of challenges, and there’s really that one big challenge you need to know and how to resolve it. So, if you’re thinking of shifting your career from the corporate office set-up to home office remote set-up, keep reading.
Freelancing can get lonely
Humans are social beings so, if you’re working alone, it may get into you in the long run, and loneliness may strike you at times. I even know some freelancers who became depressed and acquired anxiety. Although you may be surrounded by your family, in most cases, they don’t really understand the nature of your work so, conversations will never be job-related like it is with the conversations you usually have with your office colleagues. It is worth going out and socializing from time to time to avoid this challenge. Meet up with your old friends, or just stroll in the mall. Also, don’t forget that as a freelancer, you have the freedom to work and travel anywhere so, take advantage of that.
Managing irregular income
Most freelancers don’t have the same income security that comes with a regular salary. Some days you may earn $2,000 today and only $200 tomorrow, and managing such irregular income can be a challenge because your bills are not irregular. They are fixed, so you need to learn how to manage your income appropriately. The rule of thumb is not to be a one day millionaire. If you earn more today, make sure to save some for the rainy season to keep a healthy cash reserve.
Being a one-person team
Redundant as it may seem, but freelancers do have the opportunity to have multiple jobs. While this may sound good for most of us as it means more earnings, it can be hard to be that one-person team who tries to do everything all by himself. You’re the boss, the IT, the agent, the financial assistant, etc. The key here really, is to learn how to manage your time accordingly. Make the best effort to learn time management skills. I promise it will be a great help.
The biggest challenge, the commissions!
The freelancing world is surrounded by a lot of commissions! To get a job, you have to apply in platforms such as Upwork. Such platforms take commissions from both the freelancers and the employers. While we understand that it’s a business they need to run and earn profit from, those commissions hurt. Then, to receive payments, it has to go through platforms such as PayPal that charges fees and has a very low conversion rate too. Imagine just how much is left with your earnings after all those fees and commissions?
The resolution? Virie Market
The Virie Market resolves the challenge of third-party commissions and fees due to its decentralized structure. This means that freelancers can establish a direct relationship and communication with their clients. It allows business owners and freelancers to freely connect and seamlessly send and receive payments to and from anywhere in the world, in whatever currency they agree upon, and almost instantly, without commission, fees, and even taxes. Download the application here and see for yourself how it works.