Freelancer vs Entrepreneur, who am I? How do I identify myself. What do I say when I get that common question, “What do you do?” These questions might boggle the mind of someone figuring out their employment identity in this world. No matter which one you are, the beginnings are quite simple and similar.
You were tired of your nine-to-five so you quit your job and started using your skills to earn money. You have a website which gathers conversions and you have worked hard to build up your own personal brand. For example, you could be a blog writer with a website with your own brand. Your question would be whether you consider yourself a freelance writer or an entrepreneur. It all begins with a question of what is a freelancer or an entrepreneur.
So which one are you?
To answer this question, you have to dig a little deeper.
What is freelance work?
“Freelance work is by definition any work like writing, programming, designing and so on where you don’t have a regular salary source but multiple salary sources and you get paid by the hour, by the project, on a monthly basis and so on,” says Lark Stiles, an independent writer for Marketing Writing and a freelance writer for BoomEssays.
Freelancers work independently, without a single employer for an extended amount of time but rather for multiple employers on separate projects.
Most freelancers work from their own homes but also from shared work spaces. Many start their businesses job platforms like UpWork or Workhoppers or by finding clients through their website.
What is entrepreneurship?
Entrepreneurship, on the other hand is when you organize and manage any enterprise or business, that may have employees, with a goal to make a profit and fulfill a need on the market. Entrepreneurs start their business with either their own or borrowed funds and they are mainly creators, people behind ideas.
“Entrepreneurship is risky in a sense that you are the one who will have to suffer the consequences if your idea fails. Still, if the idea is solid and you develop a good business model, the rewards could be great,” says an HR manager at Economic Assignment Service and Essayroo, Barry Hollister.
How to Find Out Which One you are?
To find out whether you are a freelancer or an entrepreneur, you have to first look at your daily life.
Figure out where your time goes
How do you spend most of your time? Are you working on tasks by the hour and do you get paid by the hour? Most freelancers do. For example, if someone hires you to write articles you can get paid by the hour of writing or by the project you have completed.
Furthermore, freelancers spend most of their time working on a project for directly while entrepreneurs have people to work with on the project. Entrepreneurs design strategies, plans and a vision while freelancers spend their time on completing tasks and projects for their clients.
Are you working for someone else?
If you are working for someone else on a project, you can consider yourself a freelancer. This is one of the key main differences.
Freelancers work and make money for others while earning a portion of that money as a payment for their work while entrepreneurs hire people who help make money for them.
Think of your daily responsibilities
Freelancers typically work alone and they are the only ones responsible for their income while entrepreneurs tend to have a team that supports them and works for them. For instance, freelancer`s tasks might include communicating with clients, finishing tasks, reporting back and so on while an entrepreneur`s tasks involve managing a team, developing strategies and communicating with clients.
Determine your goals
Finally, if you want to see whether to consider yourself a freelancer or an entrepreneur, you should stop to consider your goals. A freelancer might have goals of developing their business to a point where it consumes all his working hours. An entrepreneur will likely have goals of making their business successful, grow and expand, hire people to make it profitable.
Once you really look into it, the differences are pretty obvious. It’s all a matter of your mindset and what you expect to get from it all. Some freelancers work with a larger goal in mind – of becoming entrepreneurs while some prefer to stay in the freelancing waters. Hopefully this article has clarified your doubts and helped you understand who you are and what you want to be.
Chloe Bennet is a content marketing specialist at Academic Writing Services and Paper Fellows. Chloe loves writing articles and working on her blog at Australianhelp.com where she shares her expert tips and tricks on education and college life.