Last updated on November 10th, 2020 at 08:17 am
The decision to go full time with your freelance business ultimately depends on your financial situation and what motivates you best.
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Web design is one of those businesses where you can easily swap between your work duties and your assignments. And for some people, that could be the best way to enter the field and get a feel for it.
For others, however, this could stifle their motivation, and make them complacent. This is why it’s important that you evaluate the pros and cons of both options and be aware of your personality type to ensure that you make the best decision. So, should you keep your day job or dedicate yourself fully to your web design business?
One of the biggest benefits of keeping your day job is having security. Some people just can’t operate under the stress of having to find clients and not knowing if they’ll have a paycheck next week.
Another benefit of keeping your job is that it would open you to more financing opportunities. In order to get financing for your business, you will need to have a strong personal credit rating to do so, and a job can help you improve and maintain your credit while opening you to higher limits.
And even if you don’t have good credit, having a steady income could allow you to access tons of credit options that you couldn’t get without a job. For example, BingoLoans offers short term loans for bad credit that virtually anyone can qualify for as long as they have a steady income.
Another good thing about keeping your job is that you still have access to a professional network and resources within your organization. You could have access to potential clients as long as you’re not in a competing business, and management could even help you by providing advice on how to run and advertise your business.
One of the biggest issues with keeping your job is time. Your work duties might be too extensive for you to juggle both a job and your website design business. You’ll also have less time to actively seek clients, as much of your time will be spent on projects.
Then there’s the issue of motivation. Sometimes you have to leave your job go for a sink or swim situation. Although for some people, this is exactly what is needed to light their fire.
So, What’s the Best Option?
If you want to the benefit of having something to fall back on, then we suggest you keep your day job. You should also stay if you don’t have the nest egg necessary to go multiple months without regular pay. However, if you already have a steady stream of clients, feel like you can’t dedicate fully to your business or feel exhausted, then leaving your job could be a good option, as long as you have a good financial cushion.
So, before you make your decision, make sure that you look at both options in detail, and make the decision that is better based on your situation, personality, and expectations.