Exploring the Hidden Struggles of Freelancing and Traditional Employment
Purpose Unveiled
| Isak Vidinghoff | Rating 0 (0) (0) |
| wellsquire.com/podcast | Launched: Nov 25, 2024 |
| mail@wellsquire.com | Season: 1 Episode: 10 |
Freelancing Challenges:
- Income Inconsistency: Discover how fluctuating income can lead to financial stress.
- Isolation: Understand the impact of working alone on mental health.
- Self-Discipline: Learn about the importance of strong self-management skills.
9-to-5 Job Challenges:
- Lack of Flexibility: Explore how rigid schedules can hinder productivity.
- Limited Earning Potential: Find out how fixed salaries can cap income growth.
- Illusory Job Security: Examine the deceptive nature of job stability.
Exploring the Hidden Struggles of Freelancing and Traditional Employment
Episode 10 - Season 1
Freelancing Challenges:
- Income Inconsistency: Discover how fluctuating income can lead to financial stress.
- Isolation: Understand the impact of working alone on mental health.
- Self-Discipline: Learn about the importance of strong self-management skills.
9-to-5 Job Challenges:
- Lack of Flexibility: Explore how rigid schedules can hinder productivity.
- Limited Earning Potential: Find out how fixed salaries can cap income growth.
- Illusory Job Security: Examine the deceptive nature of job stability.
An enlightening conversation with Isak shed light on the often-overlooked challenges of freelancing compared to traditional nine-to-five jobs. Isak, a seasoned freelancer and digital nomad, shared his insights on the unique difficulties each path presents. It was found particularly significant how both options come with their own set of challenges, and it’s crucial for individuals to weigh their choices based on personal values and circumstances.
Hi everyone. It's Isak here and welcome back to our channel where we dive deep into life purpose, productivity, and personal development.
Today, we're peeling back the curtain on the unspoken challenges of freelancing versus working a traditional 9-to-5 job.
This is an important conversation because many of you have asked about the real differences beyond the glamor between these two career paths. And trust me, I'm not everything is as it seems to be on social media.
So we often hear about the freedom of freelancing, right? No boss, flexible hours, work from anywhere. And it sounds perfect. But on the flip side, we hear about the stability and the predictability of 9-to-5 job, a steady paycheck, we have benefits, we have clear career progression, but okay, let's be real. each path has its unique set of challenges that are rarely talked about.
So let's start with freelancing. One of the biggest challenges that freelancers face is the inconsistency of income. So unlike a 9-to-5 job where you know exactly how much you're getting paid every month, freelancing can be a rollercoaster.
Some months, you may have more work than you can handle, while other months you may be searching for projects just to pay the bills and this financial instability can be extremely stressful. And if it's not managed well, it can lead to serious anxiety.
So another challenge is isolation. Freelancers, they often work alone. And while that might sound like a bliss to some of you, it can actually be quite lonely. And, there's no space where you just talk to your colleagues. There's no lunches with your colleagues. There's no shared sense of accomplishment. And, like, You are working to towards the same kinds of goals.
So over time, this isolation can really affect your mental health and it can lead to feelings of loneliness and even depression.
So I experienced this firsthand. I thought I was living the dream. I was doing the whole digital nomad thing and I was communicating with people online. And we were working towards the same kinds of projects, but, there's still a distance there. It doesn't give you the kind of human connection that you want.
Yeah, it's a big one to just keep in mind when you enter this kind of space. And I saw myself and I still see myself as this lone wolf kind of guy. I'm an introverted guy. I don't have a very big need when it comes to social interactions.
And just a couple of lunches. per week, it meets my needs when it comes to these social activities.
And if I have something planned every week, well, I'm going to be miserable because I so much prefer the loneliness. But when I was freelancing and I was experiencing this firsthand, It did affect me and it affected me more than I could think of and I'm not like a normal guy.
I'm someone who really strives in the loneliness I go to these meditation retreats which lasts for weeks and I enjoy it and I can close myself off. I've done this a couple of times. I just close myself off from everything. No social contact. And I spend a month like that and I enjoy it.
But when it comes to this thing, long-term, and especially if you're an extroverted kind of person and you really need this kind of connection, then it's really difficult. Like if you work with someone, if you work towards the same goal, maybe you have a friend that you start your company with, or you have a colleague that's really close to you and you guys can work together towards your goals, then this is a really good solution, I think, to this problem.
But it can be quite challenging. So just keep that in mind.
And there's this other issue of self-discipline.
A few years back, not many years, I viewed myself as this very disciplined guy. I woke up at 4 AM every day, like 365 days. It didn't matter if it was Christmas Eve or my friend's birthday.
I was sticking to my very rigid schedule. I worked out every day. I had all of these habits that I checked off 10 or more every day and it gave me a kind of sense of self-love because deep down I wasn't contented with myself, and I didn't like myself deeply. So I kind of kept this charade of being very self-disciplined. I was in my twenties and, you know, guy wanting to establish himself in the world or whatever.
So it can be quite illusory. I think. and when you are freelancing, the self-discipline becomes much more difficult. It was fine when I worked as a 9-to-5 and I started this whole self-discipline journey. It was really fine because I could actually relax at work.
But when I started freelancing, And I was completely alone with this. I was living alone. Then it became a problem with my health. I became so rigid and so obsessed that my social connections suffered, my family connections suffered, my work suffered, everything suffered.
And, I was still telling myself that you're doing good. You are working through this and you're mastering this. But in retrospective I was just not wise. I learned a lot of lessons from this. And so I'm trying to have a more soft approach to things now.
But basically when you are your own boss, you have to be incredibly disciplined to get work done, especially if you're a knowledge worker and the kind of work that I do nowadays, it really requires my full attention.
I've tried to outsource the easy work that I don't have to do, but that leaves me with work that is requiring so much mental capacity there's a lot of resistance when it comes to this. And so I'm sure many of you will experience this, you have to really disciplined and you're working towards a long-term goal, which might take you a few years before you see the results.
And yet each day you have to stand up for yourself. You have to show up and you have to do this work, which can feel grudgingly crazy. And you might think that you are crazy because you were saying no to all of these different opportunities. You are neglecting your friends and your family.
And you're focusing on this because you have a vision, but. It's so difficult to balance this thing, like having relentless discipline towards and having very strong vision and working towards something relentlessly, but at the same time having balance, it's so difficult. It's very difficult. And I have not mastered this yet. I have not learned it yet.
I don't even have anyone that I can look up to who are in this space because most freelancers, most entrepreneurs that you see, they have this innate capacity to just push towards. And you know, we all have different personality types and we all have different obstacles and different skills.
So, It's very difficult to compare yourself to some of these people, but there's nobody looking over your shoulder and making sure that you are meeting the deadlines or you are staying productive and it's basically all on you. And this can be so daunting and without proper time management skills, this can really lead to burnout.
Let's talk about the challenges of a 9-to-5 job.
Okay. So the first obvious one is the lack of flexibility, right? You are expected to be at the office or on Zoom if you're remote working Monday to Friday, nine to five, regardless of how you're feeling, like how your mental energy is and what you have going on in your personal life.
Usually, when I get my best work done, I get stuck in some kind of project and I go out and I just do something completely different. And then my best ideas arise. It's very difficult for me to be on this rigid schedule of working nine to five. When I'm working on really important projects.
This is something that basically my brain is working on a pattern recognition level. And on that level, you can't just sit in front of a computer, for simpler tasks for tasks where you have step by step process to do this. This is easy, but I just noticed this today. I went into states where I was just not accomplishing anything.
And then I asked myself, like, what is the purpose of me sitting here? Because to be honest, my work is not about the hours that I put in. It's about the results, the value that I can create. And so, sitting here, If I'm not in a state where I can create value, then what is the purpose of doing this?
So there's always this question and this rigid schedule can really make it difficult to maintain a healthy work-life balance.
So another challenge is limited earning potential. In a traditional 9-to-5 job, your salary is usually fixed. It's per hourly rate or, it's fixed in some kind of way.
And, you may get these occasional salary raises or bonuses. But you know, the thing is there's a ceiling to your income that can be quite frustrating. And especially if you have ambitions that require higher income. So many of you watching this.
And, challenging the 9-to-5 kind of concept and wanting to go freelancing. It's probably because you want more freedom, right? And so if you have a cap at your income, it means usually in most jobs, it means that basically you are selling your time for money.
That's something that it puts a big cap on the thing and it limits your freedom.
So, thirdly, there's the issue of job security. While a 9-to-5 job is very often seen as a very stable job the reality is that job security can really be illusory. You know, companies, they undergo restructuring. Offices close and layoffs happen. And it's kind of a false sense of security that can shatter unexpectedly. So this can really leave you scrambling for a new job.
And then we have this whole thing about artificial intelligence and, you know, keeping your skill sets secure. So I think there's a lot of illusion going on right now with these 9-to-5 jobs and people are not realizing that there's so many copywriters out there, for example, having this very secure job.
They worked at this firm for 10, 20 years and they're really stable. But let's face it, when these companies start to leverage AI, their roles will change drastically. So it might not be completely replaced, but it's basically another type of role. It's not about copywriting anymore.
It's about managing an AI assistant. And so that's another kind of role. And there's a lot of people who are expertly trained into this area and they can do a better job with much less salary because basically your 20 years of copywriting skills, they don't matter anymore.
So let's dig into some solutions for these challenges.
Whether you are freelancing or whether you are working a 9-to-5, these tips can help you manage the unique obstacles that you face.
For freelancers dealing with inconsistent income, it's crucial to have a financial buffer. So aim to save at least three to six months worth of expenses to tide you over during the times where the projects are not coming in.
And additionally, diversifying your sources of income can really help. don't just rely on one client or one type of work Make sure to expand your services and practice multiple income. So pick up a side hustle or try to create passive income streams
And to combat isolation, try to make conscious effort to build a professional network. So you can attend industry events, you can join online communities and you can engage with other freelancers, but having a support system of peers who understand your struggles can make a world of difference.
Consider co-working spaces. These can provide a sense of community and they can really help you alleviate the loneliness.
And for better self-discipline, it's important to develop a structured daily routine. So set specific work hours and take regular breaks and stick to a consistent schedule.
Tools like time blocking and project management apps can help you stay organized and on track.
So remember it's okay to say no to projects that don't align with your goals or values. Make sure to prioritize quality over quantity.
If you're in a 9-to-5 job and struggling with inflexibility. Look for ways to negotiate terms with your employer. Remote work flexible hours or compressed work weeks are becoming more common as companies adapt to new work models. And you should be on top of that.
Don't be afraid to have open discussions with your manager about what you need to maintain a healthy work-life balance to address limited earning potential. Make sure to focus on upscaling, take advantage of online courses, workshops and certification programs to expand your skill set and increase your value in the job market.
By continuously improving yourself, you increase your chances of getting promotions and pay raises. And you become more marketable if you decide to change jobs.
Regarding job security. It's essential to always be proactive in career planning. Keep your resume updated, network regularly and stay informed about industry trends. Have a backup plan in case the unexpected happens. It's also wise to build a personal brand and online presence. LinkedIn can be a powerful tool for showcasing your expertise and attracting new opportunities, or just create your personal website.
Alright, so there you have it. The unspoken challenges of freelancing versus a 9-to-5 job. Both career paths have their pros and cons, and it's important to weigh these carefully when deciding which one is right for you.
Remember, there's no "one-size-fits-all" answer here. What works for someone else might not work for you, and that's perfectly okay.
To all the freelancers out there, know that the journey might be tough, but the freedom and potential rewards can be well worth it.
And to those in traditional jobs, your career can be deeply fulfilling and stable with the right approach and the right mindset.
So, whichever path you choose, stay true to your values, keep striving for balance, and continuously seek personal growth.
If you found this video helpful, don't forget to give it a thumbs up, share it with someone who might benefit from this insight, and subscribe for more content on life purpose, productivity and personal development.
Until next time, keep unearthing your true calling and living your most extraordinary life.
This is Isak signing off, take care.