As a contractor, you are your boss. You make your hours, and you call the shots. This can be a great way to get started in your career or continue working after retirement. It also allows you to take on assignments as they come up, rather than being tied down to a full-time job with set hours.
However, being a contractor also has its downsides. You may not have the same benefits as you would if a company employed you, and you may not be eligible for unemployment if you are laid off. It can be more difficult to find work as a contractor, and you may need to do your marketing to find clients.
Overall, being a contractor can be a great way to gain flexibility and independence in your career. It can also be a good way to build your skills and experience. If you consider becoming a contractor, make sure you weigh the pros and cons carefully to see if it is right for you.
Things You Can Do on the Side as a Contractor
As a contractor, you may need to find additional work to help pay the bills. Because contractors are independent and can set their hours, they often have more flexibility than employees when working on the side. Here are some things you can do as a contractor that may not be possible if you had another full-time job:
Freelancing is a great way to make money on the side as a contractor. There are many types of freelance work, including writing, graphic design, website development, and more. Freelance work can be a good way to bring in some extra income while still allowing time for your assignments from clients.
Start a New Business
Starting your own business can be a great way to use your skills as a contractor and to make money on the side. There are many businesses that you can start with little or no money, and many of them can be run from home. If you have some business acumen, starting your own business may be a good option for you.
Go Back to School
If you are trying to decide whether continuing your education is worth it, consider continuing your education as a contractor. You can take continuing education classes designed for contractors at night when clients are not expecting time from you, and you don’t have tight deadlines due to being employed full-time. Contractors are often more flexible than employees when continuing their education.
Offer Consulting Services
If you are an expert in your field, you can offer consulting services to other professionals on the side. Clients may be willing to pay to have an expert review their resume or check over contracts before signing them. You could also provide free assistance by becoming a freelancer online and providing tips and pointers in your area of expertise.
Sell Items Online
This can be a good way to make money when you are not working. If you have things around your home that you no longer need or find deals at garage sales and thrift stores, selling the items on eBay can provide extra cash for anything from bills to vacationing. It is a great option if you have some extra time and items to sell. There are many online marketplaces to sell your products, including eBay, Etsy, and Amazon. You can also sell items through classified websites or auction websites.
Take on Additional Assignments
If you are finding it difficult to find work as a contractor, consider taking on additional assignments. This can help you to stay busy and to keep your skills up-to-date. It can also help you build a work portfolio that you can show potential clients. You may need to be flexible with your hours to take on additional assignments, but it can be worth it if it helps you find more work.
Start a New Hobby. If you feel burned out from your contracting work, consider starting a new hobby. This can help rejuvenate you and give you something to look forward to outside of work. Many hobbies can be pursued on the side, including painting, gardening, woodworking, and more. Choose something that interests you and can do in your spare time.
Being a contractor has both advantages and disadvantages. It can be a good way to make money on the side if you have flexible hours and some experience. It can also be a great way to build new skills or start your own business, though it may not provide as many benefits as being an employee. To decide whether being a contractor is right for you, consider all the pros and cons carefully.