I have been working as a freelancer for the past three years and I know this industry pretty well as I have worked on freelancing platforms and direct clients as well.
"If you're a newbie in this field, then, read this carefully"
Numbers of freelancers has been increased tremendously over the past few years and it is expected that they'll further grow. however, there are some of the popular myths about freelancing particularly at the beginner stage. But, before going into details, let me explain freelancing.
What is freelancing?
You have the independence to work from anywhere and anytime. If you're sick from you 9-5 five job, then, it could be a great option for you. If you're struggling with your boss or job nature, then, this is an option for you.
Myths
Some of the common myths are listed down
Easy Money
It is often considered that freelancing is an easy money. But, I am saying a big no to this statement. At the beginning, it is a hard money because freelancers have to wait days and months to get noticed. You can receive smaller orders, but, for bigger orders, you have to wait and wait. However, once, your profile is developed, this is an easy money then,
Work Anytime, Anywhere
No, no and no to this statement. You can't have this relaxation because you have to work according to the schedule of your client. You'll be dead if you're late.
Fair compensation
Lol to this statement for newbies :-) You'll be exploited by clients because they know that you're a newbie and you need ratings only. Once you have enough 5-star ratings (30-40), then, rates will increase
Competition
Low competition isn't true. There are millions of freelancers working and several freelancers offer lower rates to clients, so, they will win the game.
I'm not discouraging anybody, but, these are facts and you have to keep these facts in mind before entering to this industry.