freelancer vs entrepreneur

How To Decide Between Freelancing And Entrepreneurship

Working outside the confines of a 9-5 job is a liberating experience, right? You’re free to explore different opportunities that fit your needs, as well as the current demands of life.

However, you still need to understand the kind of profession you must associate with to help you build your career on the right path. Not having a clear way might lead you to the wrong destination, after all.

So in this post, let’s discuss the differences between freelancers and entrepreneurs. This way, you’ll have a better understanding of what you should be.

What is a Freelancer?

A freelancer is self-employed. Because they don’t have to report to a boss, they have a choice to work on several jobs and offer their services for multiple clients at a time.

What they can bring to the table is just about any service. They can provide services they can do at home like writing and virtual administrative assistance. They can also be corporate professionals like paralegals and doctors.

And usually, freelancers earn money per project. They can charge their clients after completing a project. Or they can go by hourly rates.

To look for work, they would rummage through their contacts to find people who need their services. They can also create a profile on freelancing sites such as UpWork, Fiverr, and the aptly named Freelancer.

If you want to know if famous freelancers are out there, you won’t be disappointed. Stephen King, Jimmy Page, and Meg Ryan are three big names.

What is an Entrepreneur?

If you believe you can handle more tasks than a typical freelancer, you should consider walking a mile in an entrepreneur’s shoes.

An entrepreneur takes on more tasks. And they are willing to take “the roads that are less travelled”.

Like freelancers, entrepreneurs can bring anything to the table. But unlike freelancers, they’re not limited to offering specific services.

Elon Musk is an example of an entrepreneur. As a technology entrepreneur, he’s the genius behind many promising companies and innovations. He’s the founder of SpaceX, co-chairperson of OpenAI, product architect of Tesla, and more.

(YouTube)

Aside from Elon Musk, there’s also Richard Branson, Oprah Winfrey, and Warren Buffett. And there are still more entrepreneurs out there.

You Should Be a Freelancer If:

freelancer - freelancer vs entrepreneur

The freelance workforce continues to grow stronger. That’s because freelance work opens opportunities for people of different skills and skill levels.

Plus, if you’re freelancing, there’s usually no age limit. Assuming you get the job done, your employer couldn’t care less about how old or young you are. This means you could be aged 55 and above and still get to offer freelance services.

Beyond that, you might want to take into account these reasons, too:

You want a stress-free life

Simple and straightforward. That’s how you can describe a freelancer’s life. The idea is to earn money without stressing about how to make the world a better place.

Freelancing also involves limited risks. This includes the absence of opportunity, career, and financial risks.

So if you’re a freelancer, your usual worries are down to finding and retaining your clients. And if you end up losing clients, a simple solution is on standby: Just replace them.

You prefer to fly solo

Freelancers tend to take care of matters on their own. They’re not team players. But while the inability to work with others may seem disadvantageous, it’s not an issue – for a freelancer anyway.

Because they don’t build professional relationships with big companies, their work isn’t significant. And because the task at hand isn’t more than what they could handle, they don’t need people to complete the project with them.

You want a predictable career

In freelancing, you’re usually a winner. That’s because even the smallest progress matter in this line of work.

Let’s say you get a client. If they stay, you win. If they make timely payments, you also win. And if they commend you for doing a great job, you’re a winner once more.

Sure, you could experience a downward streak from time to time. But you can almost quickly bounce up. And you can be up and running again – and be in the best shape – quickly.

You Should Be an Entrepreneur If:

entrepreneur

Around the world, 582 million entrepreneurs exist. And according to the same source, this number is rising.

If you also want to venture into entrepreneurship, here are some reasons you might want to think about.

You dream big

As the example above suggests, Elon Musk is a lot of things rolled into one. Apart from the companies that were mentioned, he also founded The Boring Company and PayPal.

He’s a visionary. And by playing a pivotal role in establishing different companies, he gets to do more for himself and his dreams.

So if you’re like him and you’re also not satisfied with small results, it looks like you’re cut out to be an entrepreneur. If you’re someone who dreams big and figures out a way to make your dreams a reality, go ahead and build a career out of it.

You’re a generalist

Did you know that 37% of business owners raised the number of their part-time employees? And if you can understand where they’re coming from, you’re thinking like an entrepreneur.

That’s because an entrepreneur knows that the idea is to get a more significant task done.

And because you prefer to see the big picture, you’re a generalist. You have no problem stepping into different roles. You also don’t mind hiring help if necessary.

A famous generalist is Arianna Huffington. She authored 15 books and led The Huffington Post to success. But while those accomplishments already make her great, she longs to do more. So it’s no wonder why she also dives into the health and wellness scene with the startup, Thrive Global.

You want to focus on products — and not services

Entrepreneurs focus on outcomes. That, or they would sell services as products.

You see, having a product is like having an idea. And entrepreneurs would go to the ends of the earth to develop their plan.

If that’s what it takes, they will learn new abilities, invest resources, polish communication skills, and more. Basically, they’re up for anything as long as their idea can reach the next level.

With their mindset, you get why they’re walking a very profitable path.

Take it from Deepinder Goyal. With his company, Zomato, his focus is on a product that assists with the selling of services.

Notably, he founded a product that allows restaurants to provide their food items on the platform. And there, people can order whatever they want and have their treats delivered to them.

Conclusion

Whether you should be a freelancer or an entrepreneur, it’s up to you. If you want to play it safe, you might want to stick with freelancing. But if taking risks makes you happy, the life of an entrepreneur is the way to go.

And here’s a brilliant idea:

You can start freelancing and transition to entrepreneurship. That, or you can have it the other way around.

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About Christopher Jan Benitez

Christopher Jan BenitezChris is a professional content marketer and writer. He has helped small businesses achieve their goals by implementing a robust content strategy that emphasises unique selling points and promoting created content using effective online channels and methods.

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