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



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.


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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The AI Video Industry Disruptor



The AI Video Industry Disruptor

In a world where generative artificial intelligence (AI) is the talk of the town, you can’t afford to overlook the revolutionary role it’s playing in our lives. From large language models (LLMs) being used to draft blog posts and diffusion models for image generation to AI coding assistants for code generation, the productivity potential that generative AI unlocks is staggering. If you are looking to know how to invest in Synthesia, this is the right place for you!

This piece will shine a spotlight on Synthesia, its stocks, investment options, and how to make the most out of this tool.

How to invest in Synthesia stocks: Navigating the basics

Introducing Synthesia – Image via Synthesia

Investing in the stocks of cutting-edge technology companies like Synthesia can be an attractive proposition for many investors. However, the process and availability of investing in such companies, especially those that are not publicly listed, can be complex. 

Here’s a guide to help you navigate the potential avenues for investing in Synthesia.

Step 1: Understanding the company’s status

Synthesia is a private company, which means its shares are not available on public stock exchanges. Investing in private companies is typically more challenging than investing in public companies due to limited availability and higher investment minimums.

Synthesia has raised significant capital through Series A, B, and C funding rounds from notable investors. These rounds have contributed to its high valuation and growth but are generally not open to individual retail investors.

If you’re curious about the cost of using Synthesia, make sure to check out our in-depth guide on “Is Synthesia Free to Use?” for valuable insights.

Step 2: Explore avenues for investment

Before investing, take a look at the wide range of investment avenues available to you:

  • Venture capital funds: One indirect way to invest in Synthesia is through venture capital funds that hold Synthesia in their portfolio. Investors can look for venture capital firms that have backed Synthesia, like Kleiner Perkins, Accel, or GV, and explore investment opportunities in those funds.
  • Secondary market platforms: Platforms like Forge Global or EquityZen provide a marketplace for buying and selling shares of private companies. However, these transactions often require significant minimum investments and are typically available to accredited investors.
  • Direct private investment: For high-net-worth individuals or institutional investors, direct private investments in Synthesia might be a possibility. This would generally involve directly contacting the company or participating in future funding rounds, subject to the company’s approval and investment terms.
  • Initial public offering (IPO) watch: Keep an eye on Synthesia’s public announcements for any potential IPO. An IPO would allow public investors to buy stock in Synthesia through stock exchanges. However, as of now, there is no public information about an impending IPO.

Step 3: Assess eligibility and requirements

Determine if you meet the criteria for an accredited investor, as many such investment opportunities are limited to accredited investors due to regulatory requirements.

Understand the minimum investment requirements, which can be significantly higher for private companies compared to public stocks.

Step 4: Consult financial experts

Before proceeding, consult with financial advisors, especially those experienced in private equity or venture capital investments. They can provide personalized advice based on your financial situation and investment goals.

Step 5: Monitor your investment

Keep track of Synthesia’s business progress, market trends, and any public announcements, especially regarding future funding rounds or a potential IPO.

Additionally, if you’re interested in exploring AI-driven creativity, our guide on Deep Dream Generator provides five valuable tips for creating stunning images.

Considerations before investing

  • Risk assessment: Investing in Synthesia carries a different risk profile compared to investing in other companies. Understanding these risks is crucial, including the lack of liquidity and the long-term nature of such investments.
  • Due diligence: Conduct thorough due diligence on Synthesia’s business model, market potential, financial health, and growth prospects. This information may be limited compared to publicly traded companies.
  • Investment horizon: These investments often come with a longer investment horizon. Assess whether you are comfortable with tying up your capital for an extended period, as it may take years to realize returns from these investments.
  • Diversification: Evaluate how an investment in Synthesia fits into your overall investment portfolio. Diversification is a key risk management strategy, and it’s important to consider how this private equity investment aligns with your other assets.
  • Exit strategies: Understand the potential exit strategies for your investment. Private equity investments typically involve strategies like mergers and acquisitions (M&A), IPOs, or secondary sales. Familiarize yourself with these options and their associated timelines.

For a more comprehensive evaluation of Synthesia’s capabilities, we recommend reading our detailed Synthesia AI review.

how to invest in synthesia

Considerations before investing in Synthesia

Investing in Synthesia’s services: An alternate approach

An alternative approach to investing in Synthesia is by availing its services. Take a look at the various ways through which you can make the most out of this AI tool:

1. Creating commercial videos for brands

One lucrative revenue stream with Synthesia is leveraging its video creation capabilities to produce commercial or explainer videos for brands. Businesses often require visually engaging content to promote their products or services. 

As a Synthesia user, you can offer your video production services on freelancing platforms, catering to companies in need of high-quality videos for marketing campaigns or internal use. By delivering professional and compelling videos, you can establish a steady client base and earn income from your creative video production services.

2. Affiliate marketing with AI videos

Another innovative approach to generating revenue with Synthesia is by creating AI-generated videos optimized for affiliate marketing. Instead of relying solely on ad revenue from platforms like YouTube, you can leverage the power of Synthesia to craft engaging and informative videos. Within these videos, strategically embed affiliate links in the video descriptions. 

By promoting products or services through these links, such as those available on e-commerce platforms like Amazon, you have the potential to earn commissions for every sale generated through your affiliate marketing efforts. This revenue stream diversifies your income sources and capitalizes on the popularity of video content in affiliate marketing.

Unlock the mesmerizing world of AI-generated artistry and unleash your creativity with a brushstroke of innovation by exploring our curated list of cutting-edge AI art tools.

3. Comparison and review videos

Synthesia can also be employed to produce valuable comparison and review videos, further expanding your potential revenue streams. For instance, you can create videos that compare two or more products or services within a specific niche, such as “MailChimp vs. SendinBlue” in the email marketing sector. 

In these videos, you can provide insightful analysis and recommendations. To monetize this content, include affiliate links for all the products or services discussed in the video description. This approach allows you to earn commissions regardless of the viewer’s choice, as they might click on any of the provided affiliate links based on their preferences. 

By delivering informative and unbiased comparisons, you can attract a dedicated audience interested in making informed purchasing decisions.

4. Targeted content creation

An effective strategy for generating revenue with Synthesia involves conducting thorough research to understand the specific queries and comparisons that people are actively searching for online. 

Armed with this valuable insight, you can create Synthesia videos that directly address these queries or comparative analyses. Within these videos, strategically embed relevant affiliate links that align with the content’s focus. 

Looking for alternatives to Synthesia? Explore our article on five AI video editors for quick and professional video editing solutions.

how to invest in synthesia

Navigating the right ways to invest in the services of Synthesia


Investing in Synthesia presents a unique opportunity to participate in the growth of the AI video industry. However, like any investment, it comes with its own set of risks. By conducting thorough due diligence and seeking professional advice, investors can make an informed decision.

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5+ High-Earning High-Ticket Affiliate Marketing Programs



Plus, How I earn full-time income on part-time hoursContinue reading on ILLUMINATION »

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Best deals this week: Get up to 40% off brands like Xbox, Hydro Flask, KitchenAid



ByChi Tran WLS logo

Friday, December 1, 2023 5:33PM

Best deals this week Get up to 40 off brands

An image of Xbox, KitchenAid mixer, Hydro Flask and Airtag.


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

Christmas is coming, and with that comes some great weekly sales for your holiday and Christmas gift shopping. Below, we’ve rounded up the five best deals you can shop for right now. Like all sales, the discounted rates mentioned below may go up at any time, so make sure to fill your carts up soon before they expire. Each deal is also vetted by our team of deal experts, so you know the products you’re buying are either top-rated, staff favorites or from a brand we trust.

Best deals of the week

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This amazing value deal for the 4-pack AirTag is perfect for the family to keep track of all their belongings.

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The Hydro Flask stainless steel is on sale for all your water needs throughout the holidays.

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Xbox Series X – Diablo IV Bundle

The Xbox Series X Diablo IV Bundle is one of the bestselling Walmart items this past week, so get your bundle at its lowest price just in time for the holiday season.

By clicking on the featured links, visitors will leave 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.

Copyright © 2023 WLS-TV. All Rights Reserved.

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