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    superadmin
    Jun 1 st, 2017
    Blog-Freelancing No Comments

    FREELANCER OR ENTREPRENEUR: THE DISTINCTION

    Post Category: Blog

    So which one are you?

    FREELANCER OR ENTREPRENEUR

    In essence, a freelancer is a person who trades hours for money. For example, if a project requires a certain number of hours for completion, then a freelancer can charge his client for that many number of hours. Therefore, under this definition, the most money a freelancer can earn is equal to the number of hours she puts in multiplied by the cost of the service.

    On the other hand, an entrepreneur is an individual who can make money through all hours of the day, even when he’s sleeping! Entrepreneurs focus on building something bigger than themselves; something that generates passive income. Additionally, they depend on systems, automation, and employees that work without their direct involvement. However, there are freelancers that charge by projects too. So does this make them entrepreneurs?

    The important question you must ask yourself is: “If I remove myself from the equation, does the business still function?”

    If the answer is “yes”, then you’re an entrepreneur.  If you are able to conjure enough momentum in your business and make money regardless of what you do daily, you’re an entrepreneur.

    WHICH ONE IS RIGHT FOR YOU?

    Freelancing is the way to go if…

    • You enjoy helping and working with people. Social skills— which include communication, empathy, and sometimes having a sense of humour—are the most basic tools in the freelancer’s toolbox because freelancing involves making people (i.e. clients) happy.
    • You’ve got a skill that you’re quite good at.The market for freelancers is very crowded, so it’s critical to be good at what you do. With that said, if you are exceptionally talented, then you’ll find copious opportunities.
    • You’re just beginning. Freelancing is a great way to gain experience in running your own business without having to take many risks. You’ll learn along the way, and it’s quite likely that if you’ve got what it takes to become an entrepreneur, you’ll open the door to setting up an entrepreneurial venture.

    Online portals such as goHyP connect business owners with professionals, offering employers a chance to search and recruit talented freelancers as well as help these professionals hone their profiles.

    Entrepreneurship is a good idea if…

    • You’re a risk-taker. Four out of five new ventures crash and burn. Let that be a warning that many entrepreneurs invest their life savings in launching a business. The odds of success are slim, so you’ll require nerves of steel.
    • You enjoy meeting new people. If freelancing is perfect for introverts who want to stay home alone, entrepreneurship is ideal for extroverts. You’ll be pitching your ideas to investors, inspiring those around you, along with networking with potential customers.
    • You’ve got a revolutionary idea. Fundamentally, this is what it takes to be an entrepreneur. Without this, you won’t have a business or the temperament for it.

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