I am updating and re-posting this piece from a couple of years ago, since a new acquaintance recently mentioned how "fun" it must be to work for myself.When I tell people that I'm a freelance editor, people always say "How cool—that must be fun!" and of course, it is—but, like most everything in life, there are good and not-so-good points about working for yourself...
Most all authors are freelancers, even if they have a "day job" because they are not usually getting paid to write (not as they write, that is—hopefully, they do get paid, but usually months or even years later).
Here are just a few of the Pros and Cons of Freelancing:
Pro: You make your own schedule (plenty of time to read).
Con: You can easily feel guilty if you are not working (never enough time to read for FUN).
Pro: You're your own boss (no one to tell you what to do).
Con: You have to motivate yourself—and on some (sunny) days that is really difficult to do.
Pro: You set your own rates and can ask for what you feel your skills are truly worth.
Con: You don't get a weekly paycheck. (Sometimes more than a few weeks go by!)
Pro: You can work from home (in your pajamas, even; I don't because I feel better when I am "dressed for work")
Con: Your home is your office and your job never really stops.
Pro: Your job is your life and it's fun!
Feel free to add to the list—I'd love to hear from you.