Future-Proof Your Income: Why Adding Freelancing to Your Skill Set Is a Must
Do you think that you want to or need to earn more income? Whether you need more than what you’re bringing in, making a transition in life, or even retiring from your 30+ year job, the modern work landscape is evolving rapidly, necessitating adaptability and flexibility from people seeking to thrive in this growing environment.
A significant part of this transformation involves the rise of the freelance economy, a trend that has only gained momentum in recent years. Whether you are 25 years old or 65 years old+, or anywhere in between, and if you want or need to work for income, then understanding the freelance marketplace and being able to provide services on platforms is a skill set you should have. In this ever-changing context, futureproofing one's income is becoming a top priority, and one of the best ways to achieve this is by adding freelancing to your skill set.
The Rise of the Freelance Economy
Freelancing or independent contractors have existed for centuries. However, the dawn of the digital age revolutionized the concept, creating a new way of working. Technology now enables freelancers to offer services globally, breaking down geographic boundaries that once limited opportunities.
In the United States alone, according to statista.com — “In 2022, there were an estimated 60 million people doing freelance work in the United States. This increased from 2014 when about 53 million people were freelancing. Moreover, the number of freelancers in the U.S. has increased since 2014.”
A report from bloggingwizard.com predicts that if the current trend continues, more than half of the U.S. workforce will do freelance work by 2028, 90.1 million people (statistica), a testament to the significant shift we're witnessing in the world of work.
This also means that if you don’t understand how to freelance, you’ll be limited in your ability to engage in work. There is a new paradigm becoming the natural way of working. Your ability to see the paradigm and work within it will give you, at minimum, skills to engage and, at maximum, a competitive advantage.
The Benefits of Freelancing
So, why are more and more people turning to freelancing? One primary reason is flexibility. The digital age has made it possible to work from anywhere, offering a level of work-life balance previously unattainable for many. Instead of being confined to an office, freelancers can choose their work environments from the comfort of their homes, a local café, or even a beachfront villa halfway across the world.
Secondly, freelancing presents an array of diverse opportunities. As a freelancer, you can work on various projects across different industries, continuously broadening your experience and expanding your portfolio.
Finally, the potential for higher income must be addressed. Unlike traditional jobs where your salary is fixed, freelancing allows you to set your rates. You can also take on multiple clients, providing an additional income stream that meets or exceeds what a traditional job offers.
How Freelancing Can Future-Proofs Your Income
In an era where industries evolve in the blink of an eye and jobs become obsolete overnight, having a diverse skill set is a crucial asset, and this is precisely where freelancing shines. By working with different clients, freelancers naturally acquire new and diverse skills. In addition, this constant learning keeps you updated with industry trends and makes you more adaptable.
Upwork’s Tony Buffum says, “Freelancers are upskilling and reskilling 50% more than traditional workers. Updating skills more frequently and ramping up more quickly are key traits of the on-demand workforce compared to the traditional workforce.” Moreover, freelancing provides numerous networking opportunities to meet new people globally and opens more opportunities to build a consistent income.
These opportunities can be priceless in the face of economic downturns, job losses, or the need to continue making money as you age.
Transitioning into Freelancing
So, how do you start freelancing? First, identify the skills you possess that are in demand. Then, build a portfolio showcasing your work. Initially, you may have to start with smaller projects, but these can be instrumental in helping you establish credibility. However, one must remember that continuous learning and upgrading skills are part and parcel of a freelance career. The more you learn, the more valuable you become.
Transitioning into freelancing can pose challenges, but these can be overcome with a strategic approach and perseverance. One such challenge could be the unpredictability of income initially, but with time, as you build a steady clientele, this issue often resolves itself.
The evolving professional landscape calls for adaptability and resilience. As we stand at the threshold of a freelance revolution, adding freelancing to your skill set is no longer just an option – it's a must. It's an effective way to future-proof your income, providing financial security and the freedom to pursue a work-life balance on your terms.
What You Can Do
As Certified Freelancing Career Coaches, we've designed comprehensive courses specifically tailored to help professionals as they transition smoothly into a freelancing career.
Our programs provide you with the knowledge, skills, and strategies necessary to navigate the freelancing world successfully. Whether you're entirely new to freelancing or need a few tips to hone your skills, we have the resources to help you achieve your goals. The time to future-proof your income is now.
Visit our website today to explore our course offerings and take the first step towards a fulfilling and flexible freelance career. You're investing in your value and future income.
Jeanne and James Bellew
YouTube channel: Duffels and Dogs