MetaGreg

You are paid what you are really worth
You know it. You are worth $95/hour but based on your employer’s sacred chart and formula, you should receive only $15/hour and there’s nothing you can do about it. If you are the employer, you set your rate and that should make you happy.

You call the shots. All of them
You decide on the 5 W’s and 1 H – what, where, when, who, why, and how you work.

The commute is usually really nice
Have you ever fantasized taking the train naked? Ok, maybe not. If you are working at home, you can go straight from the shower to your office.

More time at home
This is a good thing if you have a family or you like the quiet space that a home provides. Don’t worry, you can still go out with your friends :)

You get to see more of your children’s activities
No more missed school plays, soccer games, or parent-teacher conferences. Be careful though because other parents and teachers may think you’re out of job :)

You get out of doing things you don’t want to do
If you don’t want to attend a friend’s party, you can make a not-so-lame excuse like videoconferencing with an important client on Sunday. Don’t worry they would understand.

No coworkers
Working alone sucks. Working with morons is worse. At least with your home-based business, you have options :).

You can do usual “weekend” things when you wish
Have you tried shopping on a Monday afternoon or going to movie theaters on a Thursday morning? No stress. All fun.

No stupid, arbitrary rules
Have you ever wondered why we need to work 5 days a week? Why not just 4? Ok, working 5 days a week is not stupid but if you are the boss, you don’t need to file a sick-leave (and lie) when you have a hangover.

No Boss
Need I say more?

Based from “Start and Run a Real Home-Based Business” by Dan Furman.

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Photo from Extra Ketchup.

…from the Canadian Innovation Exchange:

1. Aeryon Labs Inc.
   Builds military-like devices for imaging
2. CognoVision Solutions Inc.
   Analytics for digital signage using face detection and tracking
3. Darwin Dimensions
   Build your own 3D avatar
4. Dayforce
   Employee performance management
5. D-Wave Systems Inc.
   Uses quantum computing to solve complex search and optimization problems
6. EnStream LP
   Builds mobile payment solutions
7. GaN Systems Inc.
   Focuses on green technology
8. GlassBOX Television Inc.
   Social network and content creation tools.
9. IGLOO Inc.
   Collaboration tools
10. Metranome
    Mobile content
11. Morega System Inc.
    Video streaming technology
12. NIMTech IncorporatedNo details
13. Overlay TV Inc.
    Make videos clickable
14. Peerset Inc.
    Generates recommendations for a given topic
15. PostRank Inc.
    Analytics and filtering for blogs
16. Remco Solid State Lighting Inc.
    No website
17. Rypple
    Collaboration tool designed for companies.
18. Sixtron Advanced Materials Inc.
    It’s process and products reduce the cost of solar cells
19. Skymeter Corp.
    Road traffic data measurement and analysis
20. YOU i Labs Inc.
    UI engines for phone and consumer devices

This one is from Neil Patel’s blog:

Harsh Reality #1: Starting a business is like a roller coaster
(If you like the adrenaline rush, good!)

Harsh Reality #2: Owning a business isn’t easier than working at a 9 to 5 job
(I agree, it’s more like 24/7)

Harsh Reality #3: Consumers have to believe you are solving a problem
(It doesn’t matter what you think)

Harsh Reality #4: You have to make money
(Many startups forget this)

Harsh Reality #5: You have to give a lot to get a little
(And “free” is a strategy, not the business)

Harsh Reality #6: Coolness is inversely correlated to success
(Except for Apple)

Harsh Reality #7: Time is worth more than money
(You should know this by now)

If you are looking for practical and no non-sense advice on running your business (especially a tech startup),  I highly recommend subscribing to Neil’s updates. His posts are fun to read and  I’m sure you will learn a lot from him.

Focused on what you want to achieve. You’ve heard this a million times while you are still working for the “The Man” but it’s worth hearing it again especially that freelancing requires more work than your traditional day job. Whether it is to make more money, gain experience, or enlarge your personal network, be clear on what you’ll gain when you become a freelancer.

Have a good a business proposition. Freelancing is no different from running a business. You need tell your prospects what you can do  and convince them you’re the right man for the job. If you can’t do these things, your freelancing dream is dead.

Think about the risks.  Freelancers are optimists. After all, who in their right mind would leave the comfort of a day job for an uncertain life. As a freelancer, be aware of the things that might go wrong (e.g. delayed payments) and and how you can get out of this situation (e.g. provide discounts for early payments). If you have a mortgage, you might start negotiating for a lower rate early on rather than wait for the time when you don’t have enough money for the monthly payment.

Establish a support structure.  Your family is often the first casualty of committing to your dream. Stories of missed family anniversaries and school plays  are not unusual for people who wants to be successful. If you’re single, your health and social life takes the first beating. Make sure you communicate your goals and your family understands the risks involve before you go into freelancing. Freelancing requires that you become comfortable working alone but it doesn’t mean you need to live alone.

Freelancing is not the ultimate solution. Many people have found success while working in a corporate environment. Sometimes they found it by moving to another industry or changing careers that are aligned with their values and goals in life.  If you’re dream is to become your own boss but  you are not comfortable with the risks, don’t go into freelancing, yet. Take some freelance work while keeping your day job. The great thing about freelancing on the side is you’ll gain experience and you’ll find out whether freelancing is for you without burning a lot of money and sanity.

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Photo courtesy of gomviandres

My friend Fitz, who runs a very popular blog on business and personal finance, invited me to share my thoughts on freelancing. I’ve known Fitz since college and we did several freelancing projects before. Every time I have questions on business and online marketing, he’s the first guy I ask.

My post is for people who are contemplating on moving from a regular employee to a freelancer. Whether you want to try freelancing as an escape from the corporate world or you aspire to become a freelancer since a kid, it is important to assess yourself whether the life of freelancing fits you.

Head over to Fitz’s blog and read my post “Is Freelancing Right for You?“.