More Free Time or More Bottom Line?
May 1, 2008
photo credit: only alice
Maybe you think about the morning coffee you’ll be able to savor—instead of choking down black tar.
Maybe you think of working your tail off for nine months and flipping to cruise control for the rest of the year.
Maybe you want to hire a staff and watch your baby grow into a multimillion dollar corporation.
Whatever your desires, there’s always a play between free time and bottom line. The crazy thing is that it can be hard to decide between the two. Why? Because it’s so easy to work on another project. Or to send out more marketing materials. Or tell a client you’ll be able to start a week earlier.
Money plays a larger part than anyone of us would like to admit. The more you work as a freelancer the more you make—usually. As an employee, working more may not necessarily put more cash in your pocket.
But as a freelancer working from home, sneaking in a few extra billable hours is immensely gratifying. You’re finally being compensated for the time you put in.
Are you ok working as a freelancer if it means less money but more freedom? Or does the thought of trimming your budget so you can quit a day job make you queasy?
I’ve started two separate freelance businesses. The first—wildy successful. The second? Good but nothing near my first venture money-wise. When the second business didn’t net me as good a bottom line, I felt unsuccessful, like I had failed.
But I measured my “failure” using a single metric—money. On the other hand, the freedom I gained was huge. I didn’t feel the pull to work more so I could make more.
I’m spending more time with my kids and enjoying it more. I’m much less stressed and much happier as a result.
For me, my scales are leaning towards “more free time”. What about you? Does making more money sound like a better deal?
Related posts:
- 7 Things Not to do Before Starting you Freelance Business
- Simplify your way to Freelance Success
- How to Live with Freelance Success
Posted in Freelance Questions, Freelance Success
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May 2nd, 2008 at 5:18 pm
I’ve spent the past eight months working like mad and finally decided that I really wanted to free-up some time. The money was such a huge draw for me, but now that my past money issues have began to resolve I find myself focusing more on the freedom. So I’m in the process of hiring a virtual assistant.
So in answer it depends on the ebb and flow of my life’s circumstances. Of course, doesn’t everything. But boy, it sure is nice to be flow part where freedom is more important.
May 2nd, 2008 at 8:02 pm
Thanks, Leisa.
Yes, it actually can flow from one to the other. I suppose that’s the life of the freelancer. The good news is that you can usually be more flexible about where and when you work.
-Jerret
May 3rd, 2008 at 9:58 am
Great post! I would love to work from home.
May 3rd, 2008 at 12:48 pm
I’ve just “Entrecarded” your blog and have to say I love it. I’ve always dreamed about working for myself, being my own boss, but for now it’s not really happening. But I can still dream, right? Anyway, I agree that more free time is worth it, even if the money won’t be that good. As long as you can still live a decent and gratifying life. I wish I was a freelancer too!