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7 Realities You Need to Understand Before Working as a Freelancer

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7 Realities You Need to Understand Before Working as a Freelancer

The freelancing industry enables talented and hard-working people to cash in their skills and abilities. Nothing similar to it has ever existed. However, people have many misconceptions about what it really is and how it functions. Some believe that it’s a source of quick and easy cash, while others think of it as if it were a promised land for artists. The only way to truly know what’s going on in the world of freelancing is to experience it first hand, but I believe I can get you a bit closer to the truth.

You Won’t Have One Boss, You’ll Have a Ton of Them

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02 Man

    The first and the most popular misconception is that, as a freelancer, you’re your own boss. Technically, this is true, but in reality you need to answer to each one of your clients, because you have a responsibility to deliver a certain amount of material in a previously set time frame. To be precise, you won’t have one boss, you’ll have a ton of them, and each one will require you to be available 24/7, answer absolutely every email, and make as many corrections as they find necessary. Building a professional relationship with that many different people may be tiring at first, but it will help you develop your people skills. The secret is in being persistent and putting your best effort into satisfying your client.

    You Are in Charge of Your Free Time, of Which There Will Be None

    When you’re a freelance newbie, this part can be particularly overwhelming. Sure, you won’t have to mind the clock (except when it comes to deadlines), and you’ll be able to arrange your tasks however you find suitable, but – and this is one big but – this usually leads to doing no or very little work until you really have to. Once you realize that you can pull an all-nighter only so many times, you will either give up being a freelancer, or your organizational skills will go through an amazing change.

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    You’ll Have a Decent Income, but You Need to Get There

    03 Notebook

      You have probably heard or read about those unbelievable successful freelancers that don’t know what to do with their money anymore. This doesn’t necessarily have to be a lie, because finally consolidating your student loans thanks to freelancing, and making some serious money is possible, but not when you’re a clueless beginner. You should allow for a period of adaptation before your master plan of becoming a millionaire can be set in motion.

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      You Only Need a Website, but It Needs to Be Great

      Another misconception about freelancing is that you only need a website and the offers will come flying in. The first part is true – you do need a website, but it needs to be properly maintained, created according to the latest trends, mobile-friendly and updated regularly. Unless you’re a developer, this is going to cost you. All sorts of new age professions, like making a living out of blogging, seem so simple to learn and easy to do, until you actually start doing them. The success rate of online jobs mostly depends on how much you invest in your portfolio, which obviously requires dedication to passion projects, lots of experience and a desire to grow. The fact that you can direct your career by yourself and develop exactly the way you want is liberating, but that doesn’t mean that you won’t have to work really hard.

      You’ll Do What You Like, but You Won’t Like All of It

      As a freelancer, you can be as selective as you want when it comes to jobs. This obviously means that you can remain strictly in your area of expertise, which is pretty great, but it also means that you will have to deal with a repetitive processes, and similar tasks that simply can’t be avoided. Loving what you do gives you an amazing feeling of fulfillment, but freelancing is based on completing various projects, and all of them have similar stages, so be prepared for a bit of grunt work.

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      You’ll Be a Freelancer, but Also an Accountant, a Lawyer, a Project Manager and a Creative Director

      05 Profit

        Becoming a freelancer differs from everything you did so far. Your job description will include using all your previous knowledge to create some kind of content, but it will also imply that you handle your own transactions, making sure your rights aren’t violated, managing your projects, and being in charge of brainstorming. If you pay attention to unemployment statistics, the fact that one person needs to take on multiple jobs at once during a time when so many can’t even find one may seem daunting, but no one said that freelancing was easy money. Anyway, you better be prepared to do some serious research and expand your knowledge of some areas that you aren’t the least interested in.

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        You’ll Be Finally on Your Own, but You’ll Be All Alone

        Being a loner might be fun at first, but once you realize that you didn’t change for the last five days, and that you haven’t talked to a real live person, will come as a shock. When people turn to freelancing, they believe their social life will flourish. We already mentioned how managing your time can be overwhelming at first – have no doubt, it will reflect on the way you spend quality time with your family and friends. Also, that lack of gossiping and annoying colleagues might seem like a great thing at first, but after a while you’ll be surprised with that feeling of nostalgia, which will undoubtedly appear. However, once you get the hang of it and truly start understanding your new job description, I’m sure you’ll get right back on the social track!

        Freelancing comes with many amazing perks, but you’ll encounter more than a few things you didn’t expect. It’s just a matter of practice really – the fact is that you’re changing your lifestyle radically and, consequently, you’ll need time to adopt and accept everything that comes with it. If you don’t give up easily, try really hard to develop your skills and work on your tolerance, you’ll get the hang of it.

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        Last Updated on January 27, 2022

        12 Reasons Why You Should Consider Working in Singapore

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        12 Reasons Why You Should Consider Working in Singapore

        Nine out of 10 foreign workers are satisfied with working in Singapore, a recent governmental survey reports. Being ranked best for numerous criteria from best intellectual property protection laws to the easiest country to do business in, Singapore also receives a bunch of accolades for the overall quality of life, top education standards and efficient medical system, ranking the nation as the healthiest in the world. So, what exactly makes the City of Lions such an impeccable place to start your career or relocate your business? Here are just 12 reasons why you should consider doing it!

        1. Singapore ranks second as the most globalized economy in the world

        The Global Competitiveness Report 2014 – 2015 named Singapore as the world’s second prospering economy. By defining “competitiveness” as the set of institutions, policies and factors that determine the level of productivity of a country, the report claims to be the most authoritative assessment of the country’s prosperity and well-being. What does that mean for you and me? High wages, low unemployment rate, excellent work conditions and nourishing business development and investment climate.

        2. Salaries are extremely lucrative

        As the economy is booming, Singapore companies are hungry to acquire overseas specialists, offering top salaries and lucrative benefit packages to attract highly-skilled workers and talents. With a median salary of 3.500$ per month, software engineers can earn up to 72.000$ annually, whereas general practitioners usually receive around 80.000$ per year, according to PayScale. Elementary school teachers earn around 34.000$ per year and working as a waitress part time will bring you around 1100$ per month.

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        3. Progressive personal tax system

        Calculating and paying taxes in Singapore is extremely easy and usually takes around 30 seconds to submit your online tax return. If you already obtained a residence permit, your personal taxes in Singapore range from 0% if you earn less than S$ 22.000 per year to 20% for incomes above S$ 320,000. Non-residents are expected to pay a flat rate of 15% from all income gained in Singapore. In addition, all of your earnings gained overseas and brought to the country are not subjected to any taxes.

        4. Getting a work/residence permit is really easy…

        With a population of only five million, and dropping fertility rates, Singapore is highly interested in acquiring new residence and labor force to boost the country’s economy to soaring heights. If you already have a job offer secured, applying for a work permit would take only a few clicks on the governmental website and you will know the outcome within just one day. No lines, no paper bureaucracy and no huge list of supportive documents or blankly stated requirements. Their entire procedure is even simpler if you are a business owner wishing to relocate your business to Singapore, or a start-up entrepreneur wishing to develop your company within the island. You are likely to receive your work permit for a longer term, plus the renewal process is fast and simple. Residence permits are usually issued along with your work permit for the same period of time.

        5. …And the same with permanent residence status

        If you have lived and worked in Singapore for over a year and enjoyed your experience, you can start considering applying for a permanent resident card. Again, the whole process can be done online without much hassle or paperwork involved. Among the factors of a successful outcome, expats name young age (below 50), educational background (degrees obtained in Singaporean universities will earn you extra points), the industry you work in (again extra points to those who are involved in scientific research and working with innovative technologies), and your ability to speak one of the four languages. The processing time does take up to six months.

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        6. The adaptation process goes easy

        As English in the main working language you won’t experience the dreaded language barrier. The local society is an absolute melting pot of Chinese, Malay, Indian and British cultures with 42% of population being foreigners. There is a huge amount of expat communities and meet-ups, restaurants serving awesome foods from all over the world, and imported goods you are used to buying back at home. As expats say, “Singaporeans are generally very comfortable with diversity and have been very welcoming to foreigners” with rare case of racism or religion discrimination occurring. There are numerous international and English schools available, along with pre-school daycare centers, so your kids won’t experience much troubles either when changing environments.

        7. Top notch higher education

        If at any stage you feel like lacking relevant educational background or certain skills to get a promotion, you should consider getting a degree in one of the six Singapore universities. National University of Singapore currently ranks number one in Asia and 22nd in the world offering degrees in Arts, Law, Medicine, Computer Sciences, Public Policy and nearly any other profession in demand. Tuition fees for undergraduate programs range from S$ 28.600 to S$ 129,200 for medical degrees. However, all students (foreign or resident) can apply for governmental grants and tuition aid, cutting down the costs by 50%, as currently around 20% of government spendings go into education. If you are aiming at a top executive position, getting an MBA in Singapore will cost you S$ 58,000 full-time or part-time.

        8. It takes three days to open a business

        Being ranked #1 for the ease of doing businesses by World Bank consequently for seven (!!!) years, starting your business in Singapore is easy and fast indeed. The whole process is done online and your registration will be deemed completed within a few hours after you pay a registration fee of the S$65. Afterwards, you can either refer for further assistance to ACRA (Accounting and Corporate Regulatory Authority) offering you a huge selection of agencies and providers to handle all your business needs – from business start-up services to preparing all the documents for your annual returns.

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        9. Singapore is rated #1 as the best labor force in the world

        As your business grows and you feel it is time to expand, hiring new professional team won’t be much of a struggle. With expats and work migrants flooding the market, local labors are known for their effectiveness, strong work ethics and superb educational profiles. Filling in top executives and managerial positing will not be a problem either as the share of high-skilled professionals with relevant background rose from 27% in 2003 to 31% in 2013. Moreover, 25% of residents reported to have worked for the same company for 10 years, which means less personnel changes and headhunting.

        10. Low crime rates and zero corruption

        Currently ranked the 5th least corrupted country in the world, Singapore surpassed a long chain of reforms and law enforcement practices on the road to a bribe-free society. The Corrupt Practices Investigation Bureau has kept an eye on matters since 1952 and tries all cases according to strict Singapore laws with long-term jail sentences and huge fines up to S$ 100,000. Same goes towards any sort of crimes–even minor offenses are treated with extreme severity. Think: three months of jail and three hard cane strokes for painting graffiti on a war memorial. When living and working in Singapore you don’t need to worry about your belongings getting stolen, nor your life threatened. Besides, you don’t need to have any sort of “special connections” to do business and get through all the legal and bureaucratic procedures.

        11. You can become a millionaire in less than 10 years

        According to a recent report issued by Boston Consulting Group, over one half of wealthy Singaporeans accumulated the majority of their wealth in less than 10 years. That’s the quickest growing rate in the world. Now, Singapore boasts one of the highest millionaires’ density in the world with 8.8% of the population having assets over one million US dollars. The phenomenon exists due to the ease of doing businesses in Singapore, advantageous location with easy access to nearby booming markets of India, Indonesia and Malaysia and quick implementation of progressive new technologies.

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        12. Absolute political stability

        Obviously, your business and you as an employee do not exist in a vacuum and are highly dependent on governmental policies and law-making. The Singaporean government is known for conducting open and fair policy towards constantly introducing new laws, tax relieves, and regulations to enhance the countries’ business environment even more. With the People Action’s Party forming the majority in Parliament since 1965, Singapore has a very stable and orderly government indeed.

        Featured photo credit: Larry Teo via unsplash.com

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