The world of work is evolving, and more and more professionals are choosing full-time freelance careers over traditional ones.Others are freelancing in their off-hours to earn more. This has led to a boom in the worldwide gig economy:
- 56.7 million Americans did freelance work in 2018 (Forbes)
- 3.7 million more Americans were freelancing in 2018 than in 2014 (Forbes)
- An estimated 90.1 million Americans will be freelancing by 2028 (Statista)
- An estimated 40% of the population will be freelancing by 2020 (PYMNTS.com)
- However, North America only has 4.1% of the world’s freelancers (Inc.)
- Freelancers are mostly located in Europe (35.5%), Asia (28%), Latin America (29.2%), and Africa (10.1%) (Inc.)
- Over 50% of freelancers are under the age of 30 (Inc.)
- In the United States, about 1/3 of freelancers are over 50 (Inc.)
Freelancing has plenty of advantages. You can set your own hours and rates, work from anywhere, and accept only the assignments you want. These and other benefits are a big part of why people choose freelance work in the first place:
- The worldwide average hourly rate for freelancers is about $19 (Inc.)
- 73% of freelancers find work in online marketplaces like Fiverr (Website Planet)
- 67% of freelancers say the amount of work they found online increased in 2018 (Website Planet)
- 86% of freelancers work from home (Website Planet)
- The #1 reason people choose to freelance is the chance to be their own boss (Website Planet)
- 77% of freelancers say their work-life balance has improved and they have more time for loved ones (Website Planet)
- 51% of freelancers say no amount of money would convince them to take a traditional job (Website Planet)
- 80% of freelancers reported an increase in morale (Website Planet)
- 82% of freelancers reported their stress levels had decreased after going freelance full-time (Website Planet)
- 79% of freelancers feel as secure or more secure in their employment than they did with a traditional job (Website Planet)
But freelancing also comes with challenges. It can be difficult to stay productive at home, and managing your own time isn’t always easy when you have other responsibilities. You also must find your own work and promote yourself:
- 52% of freelancers want more methods for finding clients and work (Inc.)
- 4/5 freelancers focus on 1 to 3 projects at once (Inc.)
- Across industries, an average of 24.13% of freelancers spend 7+ hours looking for work per week (Clockify)
- 48% of freelancers wait at least 2 weeks – 1 month to get paid (Clockify)
- 43% of freelancers spend at least 4 hours on business management each week (Clockify)
- 53% of freelancers spend 14 hours or less per week on billable work (Clockify)
If you’re a freelancer, here are a few ways you can save time, boost productivity, and overcome some of the challenges of working for yourself:1. Make a Strict ScheduleAllot time each day for projects, business management, and self-promotion.2. Manage Finances SystematicallyUse accounting software or your bank’s app to streamline financial management.3. Create TemplatesIf you do repetitive tasks, templates can help you save time on them.4. Remove DistractionsLog off social media and inform loved ones not to disturb you during work hours.5. Create a WorkspaceIf possible, create a home office or a secluded space that is designated for work.6. Know Your WorthDon’t sell yourself short, and don’t hesitate to say “no.”7. Apply for Jobs on Fiverr If work isn’t coming your way, apply directly to Buyer Requests on Fiverr. 8. Take Time OffSet strict hours for when your workaday and workweek are finished.
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