Freelance or Full-Time? How to Choose Your Next Career Move

I was recently laid off with some severance, which gave me some cushion in the job search. I know the job market is a slog though, so I wanted to make sure my skills are kept sharp not just for my next job but really in the long run. I am considering setting up an editorial and content strategy consultancy, so that at least I have recent projects that can continue to be valuable to potential employers. Would setting up a whole new business get in the way of actually seeking a job? Would that divide my attention and efforts into competing buckets? In a perfect world, if I knew I could not fail, I would set up my own consultancy offering fractional editorial leadership, from content strategy to execution, but I also don’t know if I have what it takes to be a solo entrepreneur.

— Experienced Journalist

The best next career move is not one size fits all. It depends on your individual interests and priorities, as well as your runway for how long you can hold out for what you want (how much money you have to support yourself and emotional capacity to live with the uncertainty). It also depends on opportunities available to you. If you’re an artificial intelligence expert and getting $100 million job offers, you may want to ride that wave.

This journalist above asks about launching a business or looking for a job. When you’re unemployed, that is your first fork in the road. Do you hedge your bets and try both? Or should you decide to focus and go all in on one option?

Why You Should Choose Either Freelance And Job Search

A big part of landing your next opportunity comes down to networking, whether you’re establishing a business and pitching your first clients or interviewing for new jobs and pitching prospective employers. If you’re pursuing both, you risk sounding undecided and therefore less attractive to either clients or employers. Even friendly networking contacts may be hesitant to refer you or just get confused about what you want help with, wondering whether you want new business or job leads.

In addition to networking confusion, your branding may seem unfocused if you’re speaking to clients and employers at the same time. Your LinkedIn profile plays a prominent role in your next move, and you have only one public profile. Your resume, networking pitch, and professional references also need to be tailored to a next step.

Why You Should Pursue Both Freelance And Job Search

That said, there are professionals at different levels, in different roles and across industries who have managed to hold a traditional job and build a side hustle at the same time. The potential networking and branding hurdles are not insurmountable. You will need to demonstrate that you can perform as both a consultant and in-house and that you’re genuinely interested in both. A great benefit to you of pulling that off and pursuing both a business launch and a traditional job search is that you broaden your chances for finding your next thing. If you’re like the journalist who is not 100% sold on entrepreneurship, pursuing both is a way of experimenting before having to decide.

Another key benefit is a speedier route to getting hired. Your next business client as a freelancer or next employer as a full-timer might be the same organization, so making yourself available to both a consulting assignment and traditional job can make it easier for that organization to say yes. It gives them options, in case their budget is for outside vendors or for a permanent headcount. It gives the organization a “try before you buy” option, since they can bring you in for a limited time or single project and then convert you from temporary to permanent. It also gives you a “try before you buy” option, and you might decide to stick to consulting or hold out for another employer.

How To Maximize Your Career Potential Right Now

The job market is filled with chaos, competition and uncertainty. This gives the edge to “Team Both” where you pursue freelance work and look for a job. For each opportunity, make your pitch less about the mechanics of consulting versus working in-house and all about the best way to solve the problem your potential client or employer faces. Preview your solution and spotlight your expertise. Whether you come in as a freelancer or full-time employee is secondary to the fact that you will help them. In your networking and branding, keep the focus on your results. How you get paid is secondary to delivering.

As you build up your business, you might find that landing a job is something you can layer on top of your existing business. In an uncertain job market, having a number of options is critical for moving forward. In a chaotic job market, having multiple sources of income is the foundation of career security.