When to Become a Full-Time Freelancer | From Side Hustle to Career
Starting a side hustle can be the most exciting way to explore freelancing. You might have begun doing a couple of projects after work, helping out colleagues during the weekends, or even using your skillset to earn some extra income. But somewhere down the line, the side hustle can evolve to become a substantial freelance career.
However, one often wonders, when exactly is the right time to jump ahead and turn it into a full-time freelance career?
The truth is, it doesn’t happen overnight. It isn’t just one month’s income, or one big deal client. Becoming a full-time freelancer is a combination of several factors, the majority of which help you get closer to a stable freelance career. At FRLLO, we believe that freelancers shouldn’t have to choose between freedom and security. Freelancing is about building a career your way, with the flexibility to design your own path, and the security to support it.
Here are six signs that you’ve outgrown the side gig and should think about becoming a full-time freelancer:
1. Your Freelance Income Is Becoming More Reliable
A reliable income is one of the telltale signs that your side hustle is turning into a full-time freelance career. You don’t necessarily have to earn the same amount every month, because there will always be fluctuations in freelance work. But before you quit your regular 9-5 or any other source of income, think through whether you’ve already had a consistent freelance income stream for a while.
Some questions to ask yourself are:
“Have I been able to consistently earn from my freelancing efforts?”
“Do I have more than one source of income?”
“Is my freelance income sufficient to fulfill my obligations?”
“Would I know how to deal with slow months?”
What you want to do is ensure the income is stable enough that there is no “chance” involved, and you can have a realistic idea of what to expect. It’s important to have a clear understanding of your own financial needs and the responsibilities you have.
2. You Have Built A Healthy Pipeline Of Clients And Projects
Many a freelancer has jumped ahead and decided to go full-time when their work seemed to be doing well. But what people rarely think about is the long-term sustainability of the work. Going full-time requires more than just having a bunch of projects lined up for the next month – ideally, you should have a system for ensuring that work keeps coming in.
You should be able to rely on your existing network of clients, as well as your ability to attract new ones. Having a steady pipeline of clients is important if you want to build a long-term freelance career. It’s a sign of thinking more strategically about your freelance career.
This is where it becomes important to think not just about the work you do, but how you do it and what you bring to the table as a professional.
3. You Have Taken The Necessary Financial Precautions
Financial planning is one of the most crucial parts of transitioning from a side hustle to a full-time freelance career. Unlike a regular salaried job, freelancing will require you to set aside some money for slow months. This means you need to have a thorough understanding of your financial needs and how much you’ll need to earn.
Before you go all-in, calculate your monthly expenses, and have a realistic idea of how much money you need to save every month. You should also keep in mind your personal and professional expectations and goals.
At FRLLO, we think it’s important for everyone to know their limits and work towards being able to make independent, well-informed financial decisions for themselves. After all, no two people have the same freelance career, and everybody’s financial requirements are different.
4. You Are Willing To Think Beyond Just the Work You Do
There’s a lot more to freelancing than just the work you do. When you begin freelancing as a side-gig, it can help to do just the work – but when you’re going full-time, you need to think about the other aspects of managing your freelance career.
These could include managing your professional relationships with clients, communicating your requirements effectively, and organizing your financial documents amongst other things.
Transitioning to a full-time freelancer can often mean spending time on administrative work. When you’re doing this more than the actual work you usually do, it’s time to realize that you are now much more than just a “freelancer.”
5. You Have Secured Your Professional Safety Net
You may think of freelancing as a chance to gain more freedom and flexibility than you would expect in a traditional job. But it’s important to keep in mind that as a freelancer, you have to be responsible for a number of benefits you would be entitled to as an in-house employee.
One thing many people fail to realize is that being a freelancer doesn’t mean that you’re “self-employed” in every legal sense. There are a number of factors that go into deciding an individual’s “status” in the eyes of the law. As far as Egypt is concerned, FRLLO was established to ensure that freelancers have access to benefits that they’re legally entitled to, without jeopardizing their status as independent contractors. For example, depending on the plan, you can choose to get social insurance or medical insurance through FRLLO.
When it comes to becoming a full-time freelancer, professional security should be an important consideration.
6. You Are Becoming A Full-Time Freelancer For All The Right Reasons
People consider quitting their jobs and becoming a full-time freelancer for different reasons. Some of them are driven by frustration while some are lured in by the idea of complete freedom. While it’s important to decide what you want out of a freelance career, it’s critical to understand that going full-time requires much more effort than people are willing to put in.
Ideally, you should only consider making the switch when you feel confident that you’ll be able to make a successful freelance career out of it.
A few questions to ask yourself are:
“Do I enjoy what I do?”
“Can I see myself evolving as a freelancer and learning more?”
“Am I ready to take on the responsibility that comes with my profession?”
“Do I have plans for my own freedom as well as security?”
If your responses to these questions become increasingly positive, your side hustle might just be growing into a full-time freelance career.
Turning Freelancing Into A Full-Time Career
We often forget that everything begins with seemingly small “baby steps.” As your freelance career grows, the side hustle becomes a bigger part of your life. You eventually reach a point in your career where it helps to think through some of these questions and realize that freelancing isn’t just a “hobby” or a “side-gig” anymore.
The world today is becoming more and more flexible, and freelancing continues to shape the future of work. In Egypt, we’re seeing an increase in the number of people who choose to build their careers outside of the traditional 9-5 framework. We’re seeing many local companies and platforms emerging with the intention of supporting independent professionals and helping them with their long-term freelance ambitions.
At FRLLO, we believe that our freelancers shouldn’t have to choose between building their careers their way, and being able to enjoy stability and professional security. When your side-gig grows, becoming a full-time freelancer becomes much more than just working “more.”
Work freely and live securely.
Learn More About Freelance Career Transitions
For additional insights on preparing financially and professionally for independent work, explore guidance from the FRLLO Blog, where freelancers can find resources on insurance, professional documentation, financial stability, and building a sustainable freelance career.