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Freelancing is Trash!. Try these Instead | by Asher Adefioye | ILLUMINATION | Jul, 2023

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Freelancing is Trash!. Try these Instead | by Asher Adefioye | ILLUMINATION | Jul, 2023

Photo by Faizur Rehman on Unsplash

Freelancing, in recent years, has become a popular alternative to traditional employment. It offers individuals the freedom to work on their terms, be their own boss, and explore diverse projects. While freelancing has its allure, it is not without challenges and drawbacks. In this article, we will delve into some of the key issues freelancers often encounter in their pursuit of professional independence. Additionally, we will explore alternative online business models that may appeal to individuals seeking different opportunities for income generation and career growth. While freelancing has its perks, being your own boss also means you have to be your own HR, accountant, and janitor… all rolled into one!

Unpredictable income

One of the most significant challenges of freelancing is income irregularity. Unlike a fixed monthly salary, freelancers’ earnings can fluctuate wildly from month to month. This unpredictability makes financial planning and budgeting more challenging, and it requires discipline to manage finances effectively. Not only do freelancers have to contend with unpredictable income, but they also incur additional costs associated with self-employment, such as taxes, insurance, and equipment. This further heightens the challenge of maintaining financial stability. For instance, freelancers may need to set aside a portion of each payment to ensure they have enough money to pay their taxes at the end of the year.

Lack of job security

Freelancers generate their own work opportunities. This lack of job security can lead to periods of unemployment or lean work phases, causing stress and anxiety about finding the next gig. Additionally, freelancers do not receive benefits such as health insurance, paid leave, or retirement plans that traditional employees enjoy. This is similar to a rollercoaster, with periods of exhilaration and high profitability followed by periods of tension and anxiety as the freelancer worries about where their next job will come from. Furthermore, they don’t have a net to catch them if they fall, like an employee would have with benefits and job security. Therefore, freelancers must carefully plan and manage their finances to ensure they are able to weather the inevitable storms of the freelance lifestyle.

Self-employment taxes

Unlike traditional employees, freelancers must navigate self-employment taxes. Handling tax obligations independently can be daunting. It’s essential for freelancers to understand the tax laws in their country and keep meticulous financial records to avoid potential pitfalls. For example, in the United States, freelancers are required to pay estimated taxes quarterly and must keep track of their deductions and credits to maximize their tax return. But hey, at least you don’t have a boss breathing down your neck all day!

Isolation and loneliness

Freelancers often work from home or in remote locations, which can lead to isolation and loneliness. The absence of coworker interactions and team dynamics can impact motivation and creativity. Building a support network or joining freelancer communities can help combat these feelings. As the famous Indian poet Amit Kalantri once wrote: “When you are lonely for a while don’t get restless, if you had born alone, you are going to die alone then for some time you can certainly live alone.”

Balancing Work and Personal Life

The flexibility of freelancing can blur the line between work and personal life, leading to burnout and strained relationships. Setting boundaries and establishing a structured work schedule can be challenging, but it is crucial for maintaining a healthy work-life balance. A helpful tip for freelancers is to set aside time each day to relax and recharge. This could be as simple as taking a break from work to go for a walk or talking with a friend. Taking time to relax and reset will help increase productivity and motivation in the long run.

Marketing and Client Acquisition

Finding clients and marketing services are constant challenges for freelancers. Competition can be fierce, and building a strong portfolio and a reputable brand is essential to attracting potential clients. Marketing efforts often require additional time and investment. Additionally, freelancers have to contend with the fact that their services may be seen as a commodity, making it even more difficult to stand out from the competition. It can be difficult to build a strong portfolio and reputation when competing against larger businesses and organizations with more resources and more established brands. It’s like trying to compete in the Olympics against athletes who have been training their whole lives and have corporate sponsorship and the best coaches – while you’re only just starting out. It can be done, but it takes more effort and dedication.

Payment Delays and Non-Payment

Freelancers may encounter clients who delay payments or, more often, fail to pay altogether. This can cause financial hardship and frustration, making it crucial for freelancers to establish clear payment terms and use contracts to protect their interests.

E-commerce

Starting an e-commerce business involves selling products or services online through platforms like Shopify, WooCommerce, or Amazon. This model allows entrepreneurs to create and manage their online store, giving them additional control over branding, marketing, and customer relationships. Additionally, e-commerce businesses provide entrepreneurs with a much lower barrier to entry than traditional brick-and-mortar stores. With just a computer and access to the internet, entrepreneurs can create their store and start selling their products and services. This reduces startup costs and makes it easier for entrepreneurs to enter the market.

Content Creation and Monetization

Content creators can leverage platforms like YouTube, TikTok, or podcasting to build an audience. They can also monetize their content through advertising, sponsorships, or merchandise sales. For instance, many YouTubers have monetized their content by offering exclusive video series, merchandise, and exclusive behind-the-scenes content to their subscribers. But don’t forget, content creators can also monetize their content by becoming a professional circus clown – you know, if all else fails!

Online Courses and Digital Products

Creating and selling online courses or digital products can be a lucrative venture for those with expertise in a particular field. Online courses and digital products offer a great opportunity to monetize your knowledge and expertise without having to invest in physical products or a storefront. Plus, it can be done from anywhere with an internet connection, making it a great option for those who are looking to create a side hustle or a full-time business.

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Cyber Monday 2023: The best extended deals from Amazon, Walmart, Best Buy, Apple and more

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As a participant in multiple affiliate marketing programs, Localish will earn a commission for certain purchases. See full disclaimer below*

There is still time for Cyber Monday savings. If you didn’t have time to pick stuff up on Cyber Monday, don’t worry as many of your favorite brands still have extended Cyber Monday sales. Here is every major brand’s extended Cyber Monday and Black Friday 2023 sales that you need to know. Check out best Cyber Monday deals under $100 and best Cyber Monday deals on Amazon.

Deals from top retailers

Amazon

Amazon’s Cyber Monday event has ended, but there’s still time for holiday shopping with sales up to 71% on all things tech, household appliances and more.

Cyber Monday 2023 The best extended deals from Amazon Walmart

This is your last chance to get the Apple Airpods 2nd Gen for under $100.

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The most powerful Beats headphones yet, the Studio Pro is on sale for more than 50%.

1701217563 213 Cyber Monday 2023 The best extended deals from Amazon Walmart

Hisense 58-Inch ULED 4K Smart Fire TV

The crisp Hisense TV is on sale for 41% off.

Walmart

Walmart’s Cyber Monday Deals is live until supplies last, with massive sales on items from Dyson, Sony, Apple and more.

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PlayStation 5 Spider-Man 2 Bundle

The PS5 bundle comes with the hit Marvel’s Spider-Man 2 disc for 10% off.

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The Xbox Series S bundle comes with an additional Xbox controller and a 3-month Game Pass subscription.

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The fan-favorite Bissell Vac-and-Steam All-in-one is on sale for nearly $100 off.

Home Depot

Home Depot is offering Cyber Monday deals online and in stores now through 11/29, with up to 60% off on home appliances.

Best home products deals

HexClad Cookware

Gordon Ramsay’s favorite cookware brand is offering 50% off their excellent pan and pot sets for Cyber Monday 2023.

HexClad 12-piece Cookware Set

At 40% off, you could have Gordon Ramsey’s favorite 12-piece cookware set for the lowest price ever.

Dyson

Dyson deals are the best, with many of its revolutionary hair products and vacuums now on sale for up to 50%.

1701217563 385 Cyber Monday 2023 The best extended deals from Amazon Walmart

Dyson Supersonic Hair Dryer

Dyson’s revolutionary Supersonic Hair Dryer is on sale for the first time this year – grab this excellent product for 25% off.

West Elm

West Elm is giving 70% off on many of its best luxury furniture for extended Cyber Monday sales.

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Roar & Rabbit Geo Inlay Nightstand

This beautiful nightstand is going for 30% off at West Elm.

Solo Stove

Solo Stove is the best fire pit retailer on the market, so get their warmth for up to 40% off.

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Secure some holiday warmth with the table top Mesa fire pit for 22% off.

Tech and entertainment

Hulu

Take advantage of Hulu’s amazing Black Friday deal for a limited time! Subscribe to the Hulu (With Ads) plan for 99 per month for one year, current regular monthly price after. Get this deal now by clicking here. Ends 11/28/23. Eligibility restrictions and terms apply.

Best jewelry, clothing and fashion deals

Crocs

Crocs’ Cyber Week sale are hosting sales up to 50%.

crocs

The Classic Clog is a classic for a reason at 25% off.

UNIQLO

UNIQLO is having its only sale of the year, with amazing Cyber Week deals for your online shopping experience.

Nordstrom

Nordstrom has Cyber Monday deals until midnight tonight, offering up to 82% off across all categories like Nike, UGG, Calvin Klein, Tory Burch and more.

Lululemon

The popular athleisure wear company has a number of great extended Cyber Monday finds, especially in their “We Made Too Much” page for the holiday shopping season.

Best haircare and cosmetics deals

Find deals from Ulta, Sephora and more.

Ulta

Ulta’s Cyber Monday sales are now live and ends Tuesday November 28th, with up to 50% select beauty products.

The Walt Disney Co. is the parent company of Hulu and this ABC station.

* By clicking on the featured links, visitors will leave Localish.com and be directed to third-party e-commerce sites that operate under different terms and privacy policies. Although we are sharing our personal opinions of these products with you, Localish is not endorsing these products. It has not performed product safety testing on any of these products, did not manufacture them, and is not selling, or distributing them and is not making any representations about the safety or caliber of these products. Prices and availability are subject to change from the date of publication.

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16 Common Blogging Mistakes

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16 Common Blogging Mistakes
Common blogging mistakes often derail even the most dedicated bloggers. From neglecting SEO strategies to ignoring audience engagement, these errors …

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How to Make Money with Custom GPTs and ChatGPT

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Make Money with Custom GPTs

The new GPT store on ChatGPT is expected to be launched by OpenAI in December, there aere a number of other ways that you can make money with Custom GPTs and ChatGPT as well as the new store. In the dynamic and ever-changing digital world we inhabit, the emergence of Generative Pre-trained Transformers (GPTs), such as ChatGPT, signifies a major leap in the field of artificial intelligence. These sophisticated AI models are rapidly transitioning from being mere technological marvels to valuable assets in the business arena.

Entrepreneurs and forward-thinking innovators are now at the forefront, actively seeking out and experimenting with inventive and effective ways to harness the financial potential of these tools. This article aims to explore and elucidate a variety of practical and groundbreaking strategies. These strategies are not only innovative but also highly effective in tapping into the revenue-generating capabilities of custom GPTs and ChatGPT. We aim to provide a deeper understanding and fresh perspectives, moving beyond traditional methods and applications, thereby opening up new avenues for leveraging these advanced AI technologies in the commercial sphere.

1. Merchandise Sales Powered by GPTs

One of the most direct ways to monetize GPTs is through merchandise sales. For instance, imagine a custom GPT named ‘Sticker WHZ’ designed to create unique sticker designs based on user inputs. Such AI-powered creativity can be a game-changer in the custom merchandise sector. By integrating with platforms like Teespring, the entire process from creation to distribution can be streamlined, offering a novel avenue for e-commerce.

2. Tip Jars: A Simple Yet Effective Model

Tip jars represent a straightforward monetization method. A custom GPT, like ‘Grimoire GPT’, aimed at enhancing specific skills such as engineering, can include a feature allowing satisfied users to leave tips. Digital platforms like ‘Buy Me a Coffee’ and Patreon make it easy to set up and manage these donations, providing a steady income stream for creators and developers.

3. Consultation Calls Facilitated by GPTs

GPTs can serve as powerful lead generators for professional services. For example, a ‘GPT Idea Evaluator’ could offer initial assessments or advice, leading interested users to personalized, paid consultation calls. This approach not only monetizes the GPT service but also leverages its capabilities to enhance a consulting business. Scheduling and payment collection can be efficiently managed through tools like Calendly.

4. Affiliate Marketing: GPTs as Product Recommenders

Affiliate marketing, a well-established online revenue model, can be innovatively integrated with GPTs. These AI systems can be programmed to recommend products or services, embedding affiliate links within their responses. This method adapts well to a variety of niches, including physical goods and online courses, and can be a subtle yet effective monetization strategy.

5. Sponsorships Tailored for GPT Content

Similar to traditional digital content monetization, GPTs can feature sponsored links or product mentions in their outputs. This approach mirrors the sponsorship models seen in digital platforms like YouTube or newsletters, providing an opportunity for businesses to reach audiences through AI-generated content.

Summary

The potential of Generative Pre-trained Transformers (GPTs), particularly models like ChatGPT, in the arena of monetization, is both vast and multifaceted, presenting a rich tapestry of opportunities. These advanced AI tools are not just confined to one or two avenues of revenue generation; they open doors to a multitude of possibilities. From the more straightforward approaches like direct sales, where products or services are sold directly to the consumer, to the incorporation of virtual tip jars, where users can express their appreciation in monetary terms, the scope is wide-ranging. Additionally, the realm of affiliate marketing offers a unique opportunity where these AI tools can recommend products or services, embedding affiliate links to track and earn commissions on sales. Sponsorships, too, present a lucrative avenue, where GPTs can seamlessly integrate sponsored content or product mentions into their interactions, akin to sponsorship models in other forms of digital media.

Moreover, by deeply understanding and strategically leveraging the unique capabilities of GPTs, creators, and entrepreneurs can not only tap into existing revenue streams but also innovate and create new ones. This exploration and utilization of GPTs in commerce and digital innovation can lead to the breaking of new ground, pushing the boundaries of what is possible in digital commerce and AI technology. These AI models, thus, serve not just as tools for income but also as catalysts for unprecedented growth and innovation in the digital economy, redefining the way businesses operate and interact with their customers. The potential is limitless, and the opportunities are only bound by the creativity and ingenuity of those who harness the power of these transformative AI technologies.

Here are some more useful article on ChatGPT and custom GPTs:

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