I recently signed up for a “free report” about online freelancing and as a result, found myself on a mailing list marketing a freelance job listing membership.  The other day I received a message from them that really raised my eyebrows. Here’s an excerpt:

Freelancers have a lifestyle that’s hard to beat. Can you imagine:

• Lying in bed while listening to your neighbors’ battle the morning traffic?
• Drinking coffee and eating breakfast (assuming you feel like rolling out of bed that early) while listening to the radio traffic report?
• Deciding what stimulating and interesting project you wish to work on?
• Tripling your income while working less, and on your OWN terms?
• Grabbing precious free time with your family?
• Gaining complete financial security and building incredible wealth?

Think that’s a “pipe dream”? Think again my friend! That lifestyle could be yours.

Living by the beach, in the mountains, traveling for six months out of the year, however you want to live your life, when you have skills that those gold rushers need, you have the ability to literally generate income on demand!

And I mean Six-Figure Income, Part-time.

That’s a pretty rosy picture, don’t you think? Sounds like every freelancer’s dream, doesn’t it? Too bad it’s mostly a whole lot of hype.

Don’t get me wrong. I think freelancing is a great business model, especially with the opportunities provided by the internet and the ability to work at convenient times in convenient places.  It can certainly be your ticket out of a boring corporate job if you are so inclined. However, the claims made in that email are downright misleading.

Ideas like “traveling for six months out of the year” sound great, but it’s not likely for most freelancers, at least not the way they’re suggesting; it’s very difficult to bill enough while working only half the year to support an extravagant travel lifestyle. Now to be fair, they don’t say it has to be extravagant, but that’s the picture I get in my head when they start talking about beaches and mountains.

Similarly, if you’re very good at what you do, and you’re good at selling yourself, you might eventually get to the point where you can cherry-pick your projects (and that should be your goal), but it’s pretty unusual to get to that point without first “doing your time” with mediocre gigs while you establish your reputation and develop contacts.

Contrary to what the email would have you believe, all projects won’t be “stimulating and interesting”… in fact, a lot of them will feel like work. That’s why someone will pay you to do it.

The email also neglects to mention headaches like non-payment from clients, the non-billable time it takes to win projects, and the complications that freelancing adds to your taxes.

However, my biggest gripe with the hype is the suggestion that you’ll triple your income while cutting your hours.

One of the realities of freelancing is that you have to work to make money. It’s not a franchise or a business where you can “set it and forget it.” Freelancing is not passive income; you have to work or you don’t get paid.

Sure, you could be fortunate enough to be naturally talented in an extremely-high-demand area, or really invest the time and money in training and eventually bill a specialty rate, but it’s not something that just magically happens when you start freelancing.

Certainly there are some freelancers who pull in unbelievable hourly or project rates, but they are the exception. Set a goal to be one of those, but accept the reality that it doesn’t happen overnight, and you will need a lot more skills than the thing you’re already good at (try hardcore marketing and networking skills for starters).

Most freelancers take a pay cut when they start. For me, it’s taken two hard-working years to get to something resembling a real income, and that’s through working with sub-contractors, not doing it all myself. If you are going to freelance and do the work yourself, it’s going to take time and effort to work up to good money. Most freelancers work significantly harder than their “for the man” counterparts, too.

With all these sticking points and “gotchas,” you might be wondering why I think freelancing is a good idea at all. Here’s the thing: as long as you have realistic expectations (and that’s not the same as “limiting beliefs,” by the way), freelancing can be exactly the thing that helps you enjoy your life more.

Here are my top three (realistic) reasons to freelance:

1. Freedom. You’re probably not going to freelance yourself to millionaire-hood (at least not right away), but you will have the freedom to not work for jerks and try new ideas. For creative people, that last one alone is usually worth the price of admission.
2. Flexibility. You really can lay in bed while other people are driving to work… just be prepared to keep working while they’re driving home. Maybe you prefer to work weekends when there’s less interruption… you can do that! Or maybe you don’t need a full-time income and just want the ability to change your schedule to hang with your kids. Can do.
3. Enjoyment. You may not always be in a position to take only the plum jobs, but when you want to expand your skills or develop your core focus, freelancing is ideal. And for creative people who thrive on new challenges, freelancing is a very appealing alternative to hum-drum corporate life.

Despite the overzealous promotions of those hoping to make a buck off of your aspirations, there are some significant upsides to freelancing, and if it fits with your goals, by all means, dream big freelancing dreams!

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