Tag / income

by Nathan Coumbe

Why is freelancing so terrifying?

We human beings like security – it encompasses the first two levels of Maslow’s “Hierarchy of Needs.” It’s fundamental.

To get that feeling of security, we work hourly wage jobs; we try to get hired at famous companies for regular, unchanging salaries with hopes for a 3% raise every year (which doesn’t outpace inflation).

Freelancing – being “a knight without a king” as Seth Godin likes to say – seemingly goes against that feeling of security. There is no guarantee; you don’t get paid simply for showing up somewhere for a specified amount of time.

But it’s better.

The illusion

There is no security in hourly rates; there is no security in working for a famous company. As the COVID-19 pandemic has shown us, the moment something bad or unexpected happens, your security is at risk.

The security is an illusion. No longer can we work at the same company for 20 years, slowly moving up a corporate ladder, waiting for that day when we call it quits and HR hands us a gold watch and the envelope containing our pension information.

There is no security anymore. There is only you.

“Security lies in our ability to produce.”

–General Douglas MacArthur

Make your own security

What do you already know or do well?

Can you write? Create websites? Draw and paint? Build things with your hands? Sell?

Maybe you’re a whiz at smoothing customers’ ruffled feathers. Perhaps you have a knack for motivating and encouraging other people.

There is something you already do, or something you already know about, that other people are willing to pay for. You simply have to muster the courage to offer it to them.

Each of us must explicitly state to ourselves what we know how to do and do well. That knowledge and the willingness to execute on it are the only things that give us any sort of real security in the workplace.

If you can find someone and offer them something they are willing to pay for, and do that over and over again, you are a freelancer. You have no boss, no one telling you what to do next, but also no one telling you, “I’m sorry but we have to let you go.”

You have no guarantee of income – in either direction! You can make as little or as much as you want, as long as people are willing to pay for it. But I’ll bet you got stopped on the phrase “no guarantee” or “as little…as you want” while glossing over the rest of it.

As a freelancer, you determine your job, the work you do, your hours, the people you serve. Perhaps it’s not the loss of security you fear: it’s the fear of complete and total responsibility for your success or failure.

We aren’t used to that, but it’s the only way we’ll survive.

Secure your own future today. Don’t wait for someone else to do it for you.

Join 904 other subscribers
by Nathan Coumbe

You are self-employed

All of us, if we do work that causes us to get paid, are self-employed. It doesn’t matter who signs our paychecks–we work for ourselves.

What does it mean to be self-employed? It means you are your own boss. It means your income is based on your work.

If a freelancer or entrepreneur doesn’t show up for work–if they don’t create enough value for another person–they don’t get paid. This is obvious when you don’t work for a big company with payroll every two weeks.

What about the salesperson working on commission who does have someone who signs her paycheck? If she doesn’t contact the customer, provide value to that customer, and make a sale, she doesn’t get paid.

What about you? The hourly worker or the salaried cubicle-dweller (perhaps virtual cubicle-dweller is more accurate right now)? What happens if you don’t show up for work?

You don’t get paid.

What happens if you fail to create value for the company that employs you?

You get fired.

As soon as you realize you are self-employed–as soon as you realize that you are responsible for the value you create and the income you generate, regardless of how you get paid–you will secure your future.

Even if you are laid off, the attitude of self-employment will cause you to stand out from droves of people who want to know what a company can do for them rather than what they can do for their potential employer.

Adopt the self-employed mindset and you’ll rarely have to worry where your next paycheck comes from.

Join 904 other subscribers
by Nathan Coumbe

You are doing just fine. Relax.

We are constantly getting caught up – in what we don’t have, haven’t accomplished, how far we have to go, what we need to be doing next to get where we think we want to go.

It’s exhausting.

It’s also very frustrating and discouraging if you are not careful. When you find yourself getting caught up in all the stuff bouncing around your head, it helps to take a step back and look at things from a bird’s-eye view.

View your life on a timeline. I will illustrate with my own:

15 years ago, I was beginning one of the darkest periods of my life: bad relationships, growing up way too fast because my home life was falling apart, deep depression, severe anxiety – these were just a few of the treats I unknowingly had in my future.

10 years ago, I was just beginning college with an idea of what I wanted to do with my life – an idea that changed almost a dozen times in five years.

5 years ago, I was finishing my senior year of college. After graduation, I took a job making money that had me living below the poverty line in Mississippi. I was making about half of what I spent on my college education.

In the last five years, I graduated, got married, worked in five distinctly separate fields, got promoted three times, was actively recruited by a company because of skills I developed outside of college, and more than doubled my income.

It’s easy to get stuck on how far you have to go and all the things you haven’t yet accomplished. Don’t forget to look back and see how far you’ve come. The perspective will instantly change how you feel.

Relax. You’re doing just fine.

Join 904 other subscribers

by Nathan Coumbe

This one is just for me

(These are simply thoughts I needed to work out yesterday. Feel free to skip today’s post, as it is rather selfish. However, if you, for whatever reason, read all the way through this post, think about where all the signs in your life are pointing; ask yourself why you are hesitating going down the road.)

What do you do when all the signs are telling you to go a certain way? Why don’t you just go?

All the aptitude tests, interest assessments, and personal inventories tell you to go do this one thing, but still you hesitate.

Is it because you don’t know the next step to take? No, because you know the next step – get a graduate degree.

Is it because you don’t know the field in which to get the degree? Maybe…you do have trouble choosing between your varied interests.

Is it because of what you read and hear? Perhaps so.

“Professors don’t make a lot of money.”

“Most professors are adjuct, so they have work at multiple schools without receiving benefits from any of them.”

“Colleges are slowly dying – it’s hard to get a job at one, and it isn’t the most secure form of employment anymore. The cost of college is keeping people away, and the student loan crisis is going to cause all of them to fail.”

“You may be teaching in a field you love, but the students might not care about the material.”

“Half of the Ph.Ds out there are working in fields unrelated to their studies.”

Or perhaps it’s internal. Students are borrowing small fortunes without thinking to study things (or party but still somehow get the grade) that won’t guarantee them a stable job and a livable wage. That is something in which I cannot, in good conscience, involve myself.

Is it because you might have to stop working, taking a severe pay cut in order to attend?

Are you afraid you’ll fail? Perhaps you are worried you might get the degree, but you won’t be good enough/smart enough/talented enough/hard-working enough to be the best, which means you might not be sought out by the people who need the expertise you went to obtain.

Join 904 other subscribers