Employee, Freelancer, Homepreneur, Entrepreneur- Comparative study series; Part 1

Disclaimer: This analysis/ study is personal opinion based on the experiences I have had as a freelancer. This is not in any way an authoritative document. However, you are free to discuss your perspective with me. Will be glad to know what you think.
Transitioning from a working professional, to a stay at home home-maker, to freelancer consultant, to a homepreneur has been an exciting journey for me(.. with all the ups and downs…) for the past 3 yrs. Freelancing in India is a highly untapped market. Though many are aware of its presence, no one is ready to “try” for the various “real and perceived” fears that come with the freelancing domain.
We all have our share of manias and phobias. But, it takes a conscious effort to react for / against these manias and phobias, so that we can see tangible measurable results that would in someway reflect in the things that we do every day for ourselves and family. During my early freelancing years, I had a hard time getting to know the concept and how things work. It was “Information Overload” with every Google search, and took atleast a year for me to put things to perspective. Now that I have gained ground, this is my way of giving back to the community, what a stay at home mom / homemaker can achieve with a little bit of discipline and perseverance.
T​o be honest, I was introduced to the term “Freelancer” in some movie (.. forgot which movie ), wherein the protagonist is a freelance journalist who gets caught up in the things that make up the plot of the movie. Then, dutifully like any other ‘movie goer’ I forgot all about this (…until a couple of years ago….)
I believe its safe to assume that we all know what freelancing means. For the uninitiated,

Freelancer is a person who gets paid-by-the-job, or paid-by-the-hour-for the services rendered. In short, Freelancers typically do not have steady income which we commonly know as ​Salary.

Hard hitting differences between an Employee and Freelancer,

	Employee	Freelancer
Financial Security	Absolutely YES. Regular income, SALARY Cheque Perks and other performance based commissions. Paid vacations for self / Family. Reimbursement of bills (fuel, medical etc)	Barely, for starters. Established freelancers have steady stream of work. Payment for work / services rendered. No perks No work –> means no payment. so, vacations are financially dry days.
Starter’s Jitters	Company provides induction programmes. Team / Mentor acts as support system.	Has to be a self starter & self motivator. Freelance community and forums , tread with caution.
Dispute claims and settlements	Company takes care of most of the issues.	Elicit the help of the operating-freelance-marketplace, in event of a dispute With private clients, be on gaurd.

I agree, this table is kinda scary. Being an employee is nice and cosy, and Freelancer’s realm seems to appear to be chaotic, uncertain, and with a serious margin for con.
But, being a freelancer has its own share of benefits. Here are my top picks

1. I truly get to pick the days & time to work on.
2. I get to pick and choose my clients
3. Any appreciation or blame for my work comes directly to me ( No one is going to steal my credits, and impose their blame on me)

Transition to Freelancer brings up the all important questions,

• When does one become a freelancer?

Typical answer: “You can become a freelancer any time you want”.

This is the most deceiving and dishonest answer I found to be. You just can’t wake up on a fine sunny day and decide to be a freelancer. Becoming a Freelancer is a transition, and not a title in your business card.

What do we do when a germ of an idea hits us? We ruminate on it, think about it, try to gather as much information as we can about it , so that finally we can make an informed decision… don’t you agree?..

Freelancing is no way different than this. The moment this thought takes seat in your consciousness, take time to research the idea.

• What should I freelance on?

Typical answer : “You can freelance on absolutely anything”

This is a “grey area”. This is half true, and half false. Let me exemplify.

As human beings, we all are capable of doing all kinds of works. Yet, we need a painter to paint our house … we can as well hold the brush, dip in paint, and run it up and down the wall.. why do we need a painter to do that? …
The simplest reason being, he (painter) has the knowledge and skill that is needed for painting a house.

The trick is to distinguish between, “What you are capable of doing” AND “What you are best doing at ?” AND “What interests you the most? ” (…. which you would be doing anyway, even if no one was paying you…)

These are the hardest times one would face, while transitioning to a freelancer.

1. Research on the things that you do KNOW.
2. Explore the ideas that INTERESTS you.
3. Take time to test and try ; this is a direct measure of your discipline.
4. Do not feel afraid to ask about things that you don’t know.

A friendly advice :

1. Get friendly with Google.
2. Have a sensible email & use it to register at sites you come across during research. (Do not use your personal email)
3. Spend at least 2 hrs a day (Monday – Friday),on research, documenting your findings.
4. Reserve weekend for family, refrain from “working”

So, that’s pretty much for starting the series. In the next post, I will be sharing on how freelancers and Homepreneurs are same or different. After all, this is a comparative analysis.. isn’t it?

Freel free to share your thoughts. Your thoughts may prove valuable to an aspiring freelancer.