There are a lot of freelancing myths out there that seem to make their rounds every year.
One of the biggest ones that stuck out to me is that you really shouldn’t freelance—you should create a passive income.
While I understand the point behind the myth, the reality is that it takes lot of time and effort to build that passive income.
Bidsketch takes a look at 10 of the most popular freelance myths and explains in depth why each one is exactly that, a myth.
“9. Trading Your Time for Money Is Silly. Passive Income Is Where It’s At.
A lot of budding online business types scoff at the idea of freelancing because it’s “active” income. That means you trade your time for money (by providing a valuable service).
The passive income lifestyle, fueled by too many of blogs, books, and podcasts to name, is usually some form of watching your bank account grow while you sip daiquiris on the beach.
Of course it does!
Unfortunately, a lot of people have gotten so caught up in the idea of building passive income streams they overlook freelancing’s potential to bring in cash right now. You might spend a year building a product or writing a book (both potential passive income sources) without seeing a payoff. With freelancing, you can get paid in just a few weeks.
Instead of neglecting freelancing as an inferior approach, what if you built up a sustainable freelance income and then started carving out time to think about passive income?
Many of the most successful freelancers do just that. Once they’ve got regular work at high rates, they have more time to create courses, books, WordPress themes, and all kinds of other income streams.”
Check out the other 9 myths at Bidsketch.