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The Psychological Trap of Freelancing

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Re: The Psychological Trap of Freelancing

#41

Post by josefresco »

"I went outside to get coffee and ran into three different neighbors who wanted to chit-chat. I wanted to scream, ‘For every word that comes out of your mouth, I’m losing money!"

This is a statement from someone who either hasn't been freelancing that long, or who hasn't realized that "brain down time" is just as important as raw coding hours. I've worked "for myself" for almost 20 years and for the first 5 I too panicked when daytime billable hours were derailed by "distractions". Once you push beyond that, you realize that those times away from your machine are valuable, and actually contribute to your overall well being, and your ability to code with a clear head, and an efficient mindset.

Wasting away "on salary" is a hard mindset to break. The answer is not to replace 100% of your salary hours with your own freelance work. You'll find even 50% of your previous salaried time can get just as much done, and make just as much money (assuming you price your services and value properly)

Re: The Psychological Trap of Freelancing

#42

Post by pandemic_region »

atemerev wrote: post #2

I am a freelancer, and I chose this path specifically so I could work less, not more. For me, money is just the road to my personal and family enjoyment. If I can’t enjoy life while making money, what’s even the point of making it? The road to happiness seems obvious to me: charge more (and automate income), work less, have more free time.

Yep charge more so you can work less should be the path for any freelancer. Know plenty of guys that are afraid to take holiday because 'christ look how much that non billable time is going to cost me' :-/

Re: The Psychological Trap of Freelancing

#43

Post by jpatokal »

josefresco wrote: post #41

"I went outside to get coffee and ran into three different neighbors who wanted to chit-chat. I wanted to scream, ‘For every word that comes out of your mouth, I’m losing money!" This is a statement from someone who either hasn't been freelancing that long, or who hasn't realized that "brain down time" is just as important as raw coding hours. I've worked "for myself" for almost 20 years and for the first 5 I too pan…

Yes, that's pretty much what the friendly article says:

> “If we’re already in the time-is-money mindset, we can reframe our leisure time as something that enables us to be more productive in the future,” says Whillan. “When we’re conditioned to think of all our time as ‘on the clock,’ leisure time feels abstract and unsatisfying. But if we tell ourselves that leisure time is another means to achieve that goal or financial outcome, that can make us more likely to take the breaks that we need, enjoy them fully, and be happier in general.”

Re: The Psychological Trap of Freelancing

#44

Post by demircancelebi »

pault wrote: post #29
demircancelebi wrote: post #20

After freelancing for a few years, I decided that it was not making me happier, since: - It is not possible to create significant wealth by freelancing - I work on things I do not care. I want to think/spend time on important things - Chasing down payments is stressful - Finding new clients requires some effort Therefore, I decided that it would be much healthier for me to get a job that pays well and not work as a f…

Have you considered going hourly with a staffing agency? A senior developer can charge a three figure hourly rate and if you aren't known in the industry an agency can place you at companies that can afford to keep you working full time. I've always gone above and beyond at my salaried jobs because I find the work gratifying, and I've been thrilled being able to charge for those extra hours. I doubled my yearly incom…

Right now, I'm thinking about applying to the largest companies of our industry in a few weeks, but can you please briefly share your experience on staffing agencies, because making $200k/year without an office sounds appealing.

Re: The Psychological Trap of Freelancing

#45

Post by egze »

q-base wrote: post #5

Freelancer here. This does not ring true for me. I can see a causation between freelancing and vacation. Vacations "seem" more expensive as they are both a cost and a period of lost income. But all those existential worries looks like an underlying issue with the person itself, more than freelancing in general. Freelancing may enhance it. But if you are more angry, less social and hence less happy, then no matter wha…

I almost always feel irritated when booking a vacation for this reason. So many days of lost income! But the funny thing at the same time is - I really need vacations and always feel better after them. Also the same thing if I need to do something during office hours (like a doctor appointment).

Re: The Psychological Trap of Freelancing

#46

Post by designtheprod »

photoguy112 wrote: post #40
rdokelly wrote: post #35

Earlier quoted context omitted.

Would you mind speaking a little on your path from salary to freelance? I want to make the jump but it seems scary and I don't really have anyone to talk to about it? How are you finding work?

My start in freelancing was forced. I was laid off as part of a merger for lack of face time (fully remote, while others showed up in office so naturally they were chosen over me). It was really tough. I lived in an expensive area all of a sudden without an income. I guess the reason I did not go applying for jobs was just the sour taste that the layoff left. I felt angry, not at the company, but at myself for lettin…

I'm starting up something similar to this, low fee digital business consultancy that's at a reduced scope for quick turn around and maximum results for clients. It'd be great to connect with you! Let me know where I can contact you :-)

Re: The Psychological Trap of Freelancing

#47

Post by SpaceInvader »

I'm on salary, but I do feel similar pressure as well. Even though I'm being paid more than decently I'm still looking for additional gigs, but what is hardest on me is the feeling that I'm loosing time and a lot of money if I do not manage my side projects everyday and I do not grow constantly even though my main side thing is not designed to bring me any money I feel really bad when I'm slacking.

Re: The Psychological Trap of Freelancing

#48

Post by alzoid »

photoguy112 wrote: post #28

I went from hourly, to per project, to weekly billings. When I charged hourly I ended up working A LOT more than 9-5. Per project work was good but I ended up losing a lot of prospects in the quote. Since many of my projects ran into the 20-40k range, my closing rate was 1/10 (already pre-screened, what I deemed as high quality prospects). This made me feel like crap. Instead of per project, I decided to increase the…

Had did you transition from the hourly work to weekly? Why do you think your clients are more accepting of 10K for 3 weeks vs a 20K quote?

When it comes to products do you have any thoughts on competing with big players? I have a few now, I am hoping being local will get me in the door and make the client more comfortable with me than a website offering it as SaaS.

My advice for consultants / freelancers. Setting yourself up as a general company with a name goes a long way. Not as John Doe consulting. Some larger companies don't like throwing money at a self employed consultant. If you show up as Compu-Global-Hyper-Mega-Net they treat you differently. Also people skills is spot on. Even if you do have people skills, it can help a ton to have a sales guy working for you as well.

Re: The Psychological Trap of Freelancing

#50

Post by k__ »

For me it is exactly the opposit.

I started freelancing, because I wanted freedom over my time.

While I probably undercharged by a huge margin in the beginning, at least I only worked when, where and how much I wanted.

I still made 20% more than with my last employment job, so I didn't really notice.

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