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Perhaps the most challenging part of freelancing is finding a constant stream of jobs. Without regularly finding new clients, your freelance business is likely to decline.
However, with a steady stream of clients you can earn far more as a freelancer than you would at a traditional job. Better yet, you get to set your own hours and decide how much work you are willing to take on.
That doesn't make freelancing easy. You have a lot of commitments to meet, you have to track your billable hours and you have to collect your pay. That last can often be the most difficult part of freelancing.