Freelancing has become an attractive option for many individuals. With the increasing prevalence of remote work and the elevation of the freelancing world, the enticement of becoming an online business manager (OBM) is gaining traction.
However, it is important to carefully consider the potential benefits and drawbacks of this career path before making a decision. Evaluating whether becoming an OBM aligns with your professional goals, skill set, and personal aspirations is essential.
Pros of Freelancing as an OBM
- Flexibility and Autonomy
Freelancing as an Online Business Manager (OBM) provides individuals with a unique opportunity for flexibility, autonomy, and personal fulfillment. As an OBM freelancer, you have the privilege and freedom to customize your work schedule, select clients that resonate with your values and expertise, and work remotely from any location globally. This flexible work setting offers ample time for personal goals such as a healthy work-life balance and the chance to explore diverse work opportunities.
Furthermore, freelancing as an OBM exposes individuals to a wide range of clients and industries, promoting personal and professional growth through continuous learning and networking. By embracing freelancing as an OBM, individuals can create a work-life balance that aligns with their unique needs and aspirations, while also fostering personal and professional growth
- Diverse and Challenging Work
As an Online Business Manager, you will work with clients from various industries, each with unique challenges. This diversity ensures interesting work and professional growth, as you learn from different perspectives and best practices. You will collaborate with entrepreneurs, small businesses, and corporations, requiring you to adapt your strategies and solutions. Exposure to different industries broadens your knowledge base and deepens your understanding of business operations, marketing trends, and customer behavior.
- Earning Potential
Online business managers (OBMs) can ask for competitive rates for their services, particularly if they possess specialized skills and extensive experience. Freelancing offers the freedom to set your rates, potentially enabling you to earn more than you would as an employee. However, it’s important to acknowledge that freelancing comes with its own set of challenges and considerations.
One significant advantage of being an OBM is the ability to tailor your rates to the value you bring and the level of expertise you offer. However, freelancing as an Online Business Manager (OBM) involves fluctuations in income. OBMs need to plan for these fluctuations and develop strategies to lessen the impact of lean periods. This may include setting aside savings, having a diversified income portfolio, and maintaining a realistic budget. Additionally, OBMs need to be proactive in marketing their services and networking to build a steady stream of clients.
- The Freedom of Remote Work
Freelancing as an Online Business Manager (OBM) enables freelancers to work remotely from anywhere in the world, breaking free from location constraints. This type of independence allows OBMs to live in different parts of the globe, and enjoy the flexibility of setting their schedules.
Freelancing as an OBM offers a unique lifestyle experience that combines the luxury of travel with the convenience of remote work. The opportunity to attend industry events, meet like-minded professionals, and collaborate with people from diverse backgrounds further enhances personal and professional growth.
Cons of Freelancing as an OBM
- Lack of Stability
Freelancing allows for a flexible schedule and work that matches your interests. However, it comes with its financial challenges, like an unpredictable income, no company health insurance, and no steady paycheck. To handle these issues, it’s important to plan your finances well. This means saving money for when work is slow, having more than one way to make money, and getting ready for times when you earn less.
It’s also key to set financial goals, make a budget, and keep track of what you spend. Keep your personal and business money separate to stay organized. To deal with the ups and downs of freelance work, think about taking on extra jobs, learning new skills, and meeting more people in your field. Being smart with your money and able to adjust to changes are crucial for a long-lasting freelance career.
- Social Isolation
Working remotely as an Online Business Manager (OBM) can frequently lead to feelings of being isolated and lonely. This is because remote work eliminates the physical presence and interaction one typically experiences in an office setting. The absence of daily in-person conversations, team lunches, and the general camaraderie found within a traditional office can be difficult.
For those who naturally seek out and thrive on social interactions, the transition to a remote work environment lacks the structured social framework they are accustomed to. This shift can make it challenging to maintain the same level of motivation and engagement without direct feedback and support from colleagues.
- Self-Discipline and Time Management
Freelancing demands a high level of self-discipline and time management skills. Without the oversight of a supervisor, it’s up to you to stay organized, meet deadlines, and manage your time effectively. This can be challenging, especially when balancing multiple projects simultaneously.
Working from home as an Online Business Manager usually leads to feelings of loneliness and isolation. This happens because, unlike in an office, there’s no face-to-face interaction. The usual office experiences like chatting with colleagues, having lunch together, and the overall sense of togetherness are missing in a remote setting.
For individuals who enjoy and rely on social interactions, adapting to working remotely can be tough. It lacks the organized social structure they’re used to. This change can also impact their motivation and involvement in work, as they miss out on the immediate feedback and encouragement from their team.
Is It For Me?
The choice to pursue freelancing as an online business manager relies upon a thorough assessment of your unique circumstances, aspirations, and preferences. Are you comfortable with the risks and responsibilities associated with freelancing? Consider your personality, skills, and risk tolerance to assess if this path is right for you. If you possess a strong entrepreneurial mindset and are willing to accept the challenges of freelancing, this path may offer a rewarding and fulfilling choice for you.
