Is it possible for a freelancer return to the 9 to 5 life and not be miserable?

Question

I am a freelance ad writer and getting a little burned out, largely because of the hassles of managing receivables and cash flow.

Answer 1

It can take a lot of searching (and frustration and luck) to find the perfect position. There is always something that is an irritation. So the question is, will the irritations of working in a 9 to 5 situation be more tolerable than your current irritations?

You could continue to freelance while you looked for a so-called perfect job. You could also look for ways to reduce the frustrations of the receivables and cash flow. You could use a service to handle the administrative tasks you dread, and in theory, even use a dreaded factor to resolve the cash flow problem.

My advice is to consider increasing fees to anyone who is causing you receivables issues. It is not that difficult, trust me. Four things can happen: (1) the client gets mad and dumps you, (2) the client gets the message and pays you on time at the lower rate(with your blessing), (3) the client doesn't get the message but pays you the higher late fee, and (4) the client doesn't get the message but tries to pay the lower rate anyway. If the first or fourth situation takes place, there is more reason to go back to the 9 to 5'er. Otherwise, maybe your freelancing role is more enjoyable.

Good luck!

Answer 2

how large are each of your receivables? Do you have to extend so much credit? Cutting back on that and also your net payment terms or taking security deposits or building customer loyalty and giving incentives for COD can ease your stress a little.

Proper reporting/monitoring is also a big help so that you don't let your receivables age so much.

Why do I say all of that? Because you know the reasons why you struck out on your own and although it's not impossible to find joy in a 9-5, you know it would take a special job to lure you back. Otherwise you'll be quitting and back out on your own again real soon.

Unless you're having financial or family problems because of self-employment : Don't do it. Step away from the ledge.

Answer 3

I feel your pain... when I first started my solo marketing biz 15 years ago, that's what ultimately drove me back to the safety of a "real job."

This time around, I've learned a few things about positioning and fees and how to avoid that trap, and now I only do business on my terms, and I've set up my professional life to support my needs, and not the other way around.

If you're in the ad business you probably know of Dan Kennedy; and you may have already rejected him because of his style or reputation. Personally, the stuff he teaches about positioning and the client/consultant relationship has dramatically changed the way I view these topics. I really recommend you get on his list and read his stuff. He offers a kit specifically for consultants, you should get it.

Good luck,
Scott

Answer 4

You might be best suited to finding a firm that has a much more relaxed schedule requirement. IME, places like that tend to have a more creative atmosphere anyway.

Answer 5

If you enjoy that kind of work how can you be miserable.