The freelance world is brimming with various activities influencing the nature and scope of how work is done in the present day. Freelance Life Magazine brings you exciting trends, tips and topics that keep you up to speed in the evolving world. Among other interesting topics from the second half of February, we include in the freelance review for this edition, a talk on AI and the famous ChatGPT. Continue reading as you find out what we have about them.
5 Things You Must Do When You Switch From a Full-Time Job to Freelance Work
Source: Gobankingrates
Freelancing has many benefits, but the transition isn’t always easy and simple. Some obligations come with freelancing that aren’t present for full-time employees. Gobankingrate, highlights the following actions necessary to facilitate a smooth transition from full-time employment to freelancing.
- Identify Your Skills and Services
You must decide your expertise and what you will offer as a freelancer before you even begin. Since freelancing is a business, you must figure out what makes you stand out from other freelancers if you want to succeed. Frequently, using the abilities you’ve acquired from your full-time job is the greatest point to start from. After determining your skills, you should do some research to determine whether there is a need for your expertise.
- Set Up and Manage Your Finances
Money is vital whether you work full-time or freelance, but freelancers have additional factors to take into account. This is because if you are a self-employed freelancer, you are both the employer and the employee. On both sides of the equation, that entails handling the finances.
- Develop Relationships with Clients
If you want to succeed as a freelancer, developing relationships with clients is essential. As soon as you get started, you must produce high-quality work and adhere to your deadlines. In the event that you are unable to make a deadline, inform your client and request an extension. After the work is finished, solicit feedback and address any issues that surface.
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- Build Your Brand
Also, you ought to establish and maintain a portfolio. On your website or blog, you can also start a portfolio. As a freelancer, you should establish your area of expertise.
- Manage Your Time
Although time indeed equals money, when you work as a freelancer you need to create methods to manage both. You need to plan and establish deadlines for yourself.
Conclusion
Freelancing instead of working a full-time job provides several advantages, including improved work-life balance, flexibility, and avoiding moving from one place to another. But you also need to know your strengths, control your spending and time, cultivate client connections, and establish your brand. As a freelancer, I think if you want to be successful as a freelancer, you must follow these instructions.
7 Top Digital Nomad Passive Income Streams
Source: World of Freelancers
Digital nomads, often known as migrant freelancers, have more than one way to make money while travelling. By establishing passive income streams, they can also increase their revenue. Working remotely while travelling is a great way to explore the globe. You earn more money through digital nomad passive income streams, giving you more money for travel. Also, they support you during tough periods and make it easier to maintain a steady flow of income. This article on World of Freelancers lists the best 7 passive income sources for digital nomads that you may use to supplement your freelancing income.
1. Affiliate income
Selling specific products to a target audience as an affiliate can be an excellent source of passive income if you can produce online content on social media, blogs, websites and other internet space. You can use affiliate links while travelling because it is entirely online.
2. Dropshipping
Dropshipping can be a terrific method to make money if you have sound business judgement. Dropshipping is a business strategy where you don’t hold a stock of your goods. As long as you can reach your suppliers, you can be located anywhere.
3. Rental income
Renting out your home or apartment while you’re away might be another way to boost your income. If you live in a location with many tourist attractions and adjacent recreational facilities, this is extremely advantageous.
4. Stock photos or videos
Do you always have a camera with you? Do you like making quick videos? If the answer is yes, you might want to sell stock images or motion pictures. Create audio-visual content of HD quality, then market them to stock websites like Adobe Stock and Shutterstock. You earn a commission every time someone purchases your images or videos.
5. Digital knowledge-based products
People want to learn from the knowledge you have acquired. To capitalize on your knowledge, you must identify the people who will make up your audience and produce content that will interest them.
6. Investments
Another approach to get a passive income is through stock investment. You establish this passive income stream for digital nomads by purchasing shares of a firm you think will be successful. Following that, the corporation pays you dividends based on how many stocks you possess.
7. Creative skills
The weirdest sources of passive income can come in various forms. Some ways where you can generate passive income include Cashback Apps, Ad Space, Fast work and Custome shirt design.
Contract-For-Hire: Millions Of Freelancers Now Open To Full-Time Work
Source: Freelance Informer
Upwork, a marketplace for independent contractors, is growing into full-time employment and recruiting through contract-for-hire positions. The move, which the company describes as a first for the industry, gives companies of all sizes the ability to identify, evaluate, hire, onboard, and pay highly competent professionals for full-time work arrangements, without the complexities typically associated with global hiring.
What is contract-for-hire?
A contract-for-hire arrangement allows freelancers or professionals to have a taste of the job before committing to it permanently. The hiring company is subject to the same rules. Both sides talk about the possibility of a permanent on-payroll job after the interim contract expires. Jobs that are offered as a contract-to-hire role include IT Consultant, Project manager, Designer, and Health or social care professional.
Benefits of Contract-For-Hire
- Become more employable
- Fast-track your experience
- Expand your professional network
- having access to fresh expertise you may apply to new initiatives
- Create enduring bonds with your colleagues
- company advantages (i.e. pension contributions, private healthcare, etc.)
Downsides of Contract-for Hire
- No benefits equating to a full-time job
- A lack of a sense of belonging; “outsider syndrome”
- Joining the unregulated umbrella company industry comes with risks and fees.
- Threatened job security
- No compensation package exists.
According to Dave Bottoms, the General Manager of Upwork, employing full-time employees anywhere in the world is an expensive venture and a leap of faith for all parties concerned. With this expansion into a full-time hiring solution for all users and customers, Upwork has mobilized longstanding expertise, experience and technology to further help businesses and skilled professionals build trusted, long-term working relationships. Freelance Informer further mentioned on their website that the goal is to give clients the freedom to select the employment options that best suit their needs and to enable those on both sides of the labour market to prosper in the rapidly evolving workplace of today.
The Future of Work: Explore the latest trends and developments in the world of work
Source: Medium
The future of work looks very different from what we are used to as the world of work is changing quickly. The new trends and advances are altering the way we work and live, from automation and remote employment to the gig economy. Let’s examine these changes discussed on the famous platform, Medium and how they will affect the future workforce.
Automation: The Rise of AI and Robotics
The development of automation is one of the most important trends in the workplace. The workplace is changing as a result of artificial intelligence (AI) and robotics, which allow businesses to automate tasks that were previously done by humans. Concerns about the future of employment and job losses have resulted from this. Automation is, however, also transforming the nature of labour and opening up new opportunities.
Robots are employed to perform procedures, for instance, in the healthcare sector, lowering the possibility of human error and enhancing patient outcomes. Automated warehouses are driving down costs and raising efficiency in the logistics sector. Also, chatbots are assisting clients in the customer care sector around the clock, freeing up human employees to work on more difficult jobs.
Remote Work: The New Normal
The trend toward remote work has picked up speed since the COVID-19 epidemic. Rapid adaptation has been required of businesses all around the world to ensure the security of their workers and the continuity of operations. A significant movement towards remote work has resulted from this, and it is likely to do so in the future. However, However, remote work also poses challenges, such as the need for effective communication and collaboration tools, and the risk of social isolation and burnout.
Realistic Examples
There are numerous industries and employment roles where these trends are having an influence. For instance, AI is being utilized in the banking sector to automate processes like fraud detection, which eliminates the need for manual intervention. Remote learning has become commonplace in the education sector, enabling students to access education from any location in the world. By using websites like Upwork and Fiverr, freelancers in the creative sector are working on projects for clients all around the world.
How Will ChatGPT Change Freelancing? 5 Publishers Weigh In
Source: Digiday
The simple response to that question, which was put to the editorial heads of five different publishers, was nothing. This article I found on Digiday reveals the original responses provided by these people. Given how easy it is to access and use ChatGPT, what’s stopping a writer from providing details of an assignment into ChatGPT, waiting for a story to develop, and then sending that to an editor? Since ChatGPT’s introduction, none of the editors or heads of content at Bustle Digital Group, Gizmodo, Forbes, Hunker, or Trusted Media Brands has amended their freelance contracts or specifically advised writers not to use ChatGPT to the extent of creating a story.
Beth Tomkiw, the head of content at TMB said we ought to include that in all of our contracts even though it’s so new. We have procedures in place to determine whether content has been plagiarized, but unless we are transparent about it, it will only make the situation messier.
Freelance writer and editor Jill Schildhouse claimed that the newspapers she has collaborated with had not contacted her about ChatGPT. And as a result, she is unaware of the policies of such organizations regarding content produced by artificial intelligence. However, she mentioned that her latest ChatGPT experience left her unimpressed.
Alesandra Dubin, another freelance writer and editor, said it’s just a couple of publications she has worked with that have distributed a memo regarding ChatGPT. Dubin stated the publisher communicated a “clear policy change, and there can be no employment of AI in donated work”.
Is The Tech Even There Yet?
If freelancers are relying on ChatGPT to produce content, they may be paving the way for their extinction. Why would I pay a freelancer if I knew they were employing ChatGPT? Because I could just use ChatGPT myself,” claimed David Ewalt, the executive editor of the tech website Gizmodo from G/O Media. “That’s not what I’m paying you for, if you’re doing that,” he further mentioned.
According to Marc Lavallee, the director of journalism at the Knight Foundation who oversees tech and product investment, artificial intelligence (AI) shouldn’t be performing the majority of the task when it comes to writing. I strongly agree that transparency between a writer and an editor is crucial, and the introduction of ChatGPT does not and should not alter that.
