I can quit freelancing and focus on other sources of income like blogging and membership sites, equity trading and investment in market, communities and forums or even consultation.
Still, I prefer to remain associated with freelancing and web development and here are five reasons for it.
1. Easy Money
At my current hourly rate of $30 working for 15 to 20 hour’s a week means $2000 a month which is is better than what many Indian CEO’s of monthly take home salary would be.
I can outsource boring part of any project (which is often design part) because of being in the industry for so long and is in touch with many designer and developers. So it helps me earn little extra with very less of my time engagement making it lucrative source of money.
When I take up only few projects and clients every month, I can always quote better rates and clients are more than willing to pay me for my experience and expertise as well.
2. Learning Curve
I charge decent hourly rate and this not only helps me make more money but the more important is I work with serious businesses and clients. So it helps me interact with successful site owners and learn many aspects of what they are doing and how it is working for them.
As an example when interacting with a client who has a very active body building community, I learned a lot about membership communities and how to make them active and interactive.
Having more than one source of income always help and you never know when it can become the only source of income.
Forums were a considerable source of income for me but traffic went down considerably in the Penguin and Panda update era and it was freelancing which became my main source of income.
Similarly Elance merged with Upwork many fellow freelancers had issues getting new clients from from Upwork.
Such overnight changes is part and parcel of online world and you should have a more than one revenue stream to deal with such uncertain times and freelancing is one such alternative revenue stream for me.
4. Provide Dynamicity
Being a writer, or working only for your own website can make things too boring or unidimensional and without any adrenal rush.
Working for clients you have deliverables and deadlines to meet which creates a sense of urgency and rush of your adrenal to meet the given deadline.
The unseen challenges to meet deadlines keeps the adrenal pumping.
Clients pay to experiment on tools and CMSes that otherwise would have cost me money.
As an example when I was looking for alternative to vBulletin, I had Invision Power Board as an option but working for one of the client I found that it is not upto the mark of what I am looking for. If I had to experiment with IPB, it needs my time and can cost license fee as well where as client paid me for my time to work on the software and I could take a feedback of the software from a person who has been using it.
Similarly, I did an experiment for a client on shopping cart solutions like Magento, Opencart, WooCommerce for Indian payment processors.
Do you think I should still quit freelancing? Let me know your views in comments.