Pros and Cons of Full-Time Freelancing, Part 1

Leaving your day job to freelance full-time is a highly personal decision with lots of financial, emotional, and other considerations to weigh. But until you're actually planted at your laptop for ten hours a day, it's hard to picture exactly what full-time freelancing will be like. This is the first post in a two-part series examining the pros and cons of this lifestyle.

Obviously I'm pro-freelancing, so I'll start with all the reasons why I love it. Check back next week for the counterpoints (yes, some of these are both pros and cons depending on how you look at it).

• Your pay is tied to your output. When I worked as an employee, it always bugged me that I earned the same amount of money whether I worked my tail off and put in extra hours to please my boss or sat starting at my computer until bolting at 5pm. Sure, some employees earn bonuses or overtime, but I never had that kind of job, and my sense is that companies are cutting back wherever possible. If you're highly motivated and efficient, it's nice to know that your income will generally scale accordingly.
• No commute. As someone who once passed out on an overheated subway car, I thoroughly appreciate my 30-second commute! Instead of crowding onto a bus or subway, I can spend that extra time making a healthful breakfast, prospecting for new clients, or getting a few extra minutes of sleep. Plus, it's cheaper and better for the environment. The exception is when I'm doing an on-site copywriting project, but that's only a small fraction of my time.
• No dress code. Think of all the money you save ditching that fancy work attire and the accompanying dry cleaning bills! As long as you're not meeting with a client, you can work in Superman pajamas or yoga pants or even in the buff if that's your thing.
• No office politics. True, you'll probably still deal with some difficult "personalities" as a freelancer, but it's a lot easier to stomach when you're not sharing a windowless office with someone you hate or hiding from your micromanaging boss twenty feet away. Proximity tends to amplify those kinds of issues!
• More lunch options. Packing brown bag lunches can be a drag, eating Lean Cuisine every day gets old, and dropping $8 for a sandwich near the office is just plain ridiculous! As a freelancer, I can make a quick salad in between projects, bake a potato for dinner, or take my laptop to Panera for a snack every once in awhile. Plus, there's no temptation to grab something out of the company snack closet or vending machine when the 3pm munchies come a'calling (that's why I buy hummus and baby carrots). Forgoing convenience foods (mostly) is cheaper and better for my health in the long run.
• The variety. It may not happen overnight while you're still building your business, but I love being able to choose my projects and work on a bunch of things at once. During any given day, I could be interviewing relationship experts, writing a press release for a nonprofit, blogging about workers' compensation, proofreading toy descriptions, and researching bars and restaurants around Boston. If there's a new topic that strikes my fancy, I can usually parlay that into an assignment. Pretty sweet, huh?
• The freedom to choose when and where you work. This is perhaps the biggest benefit of all. As a freelancer, you're not tied to a cubicle or a strict schedule. Although I believe in being available to clients during regular business hours, I've been known to run an errand with BlackBerry in tow or work from a friend's apartment in a different city or take care of my mother after emergency eye surgery. Other freelancers I know use their autonomy to travel the world or juggle parenting alongside a career. And yes, those with pets get some quality time with Fluffy or Fido in between projects (see above).

Your turn! What do you love about full-time freelancing? Do you agree or disagree with this list?

Flickr photo courtesy of Maia C.