The Confused Perception of Freelance IncomeFebruary 19th, 2013 by Michael Kwan
You Get Paid for That?
On the one hand, and this is likely closer to the majority than the alternative, I get people who are utterly flabbergasted that it is possible to make a livable income working from home as a freelance writer. The more traditional view is that, in order to earn a living, you have to leave the house and go to some sort of workplace and be employed by some kind of company. If I’m not actively employed with a particular company and I never leave the house, I can’t possibly be making any real money, right?
The fact of the matter is that running a freelance writing business isn’t all that different from running any number of small businesses that offer professional services. In effect, when you hire an independent lawyer, accountant or photographer, that is fundamentally the same relationship that a freelance writer would have with his or her clients. There is a business structure in place. Some may argue that there is a greater legitimacy (or at least the perception of such) if you rent a physical office somewhere and there may be some truth to that, but it’s not quite the right fit for my particular situation.
Many people have the assumption that if you don’t leave the home, it must be a hobby and not really a career. However, many hugely successful businesses got their starts in basements and bedrooms. Even if the company does grow to that level, a home-based business is no less legitimate than one that is based outside the home.
You Must Be Very Wealthy!
Although less common, another reaction that I get from people when I tell them that I’m a freelance writer for a living is that I must be rich. After all, my wife and I own our own home in an increasingly expensive Vancouver real estate market. We’re able to go out to eat and go on the occasional trip. And I’m a business owner, not someone else’s employee.
Well, this perception isn’t really accurate either. We aren’t rich, but at this point in our lives, we are reasonably comfortable. We’ve been able to be frugal where we need to be and we’ve been disciplined with our savings. I’ve worked on ways to maximize my freelance income, like developing sources of passive income, but I’d consider myself to be quite middle class.
So, How Much Money Can/Do You Make?
Without going into specific figures, the truth is that the potential for a reasonably successful career in freelancing is really not that different from many other career possibilities. If you choose to open up a modest eatery in the heart of the city, you could become the hottest place in town and make tons of money. On the flip side, you could be a monumental flop and find yourself riddled with debt.
It sounds cliche and you’ve probably heard it before, but it’s worth repeating: a freelance writing business is a business and needs to be treated as such. It carries with it all the risks and opportunities that you find with other businesses, including a difficult-to-predict flow of income. You can make money and there are opportunities to make a lot, but there is also the possibility of really struggling to make ends meet. As with so many other career aspirations, the majority of us who stick with it fit somewhere in between.