I did two stints as a freelancer. First stint, I was hyper specialized in a industry where I had a good reputation. Did it for a year, made a ton of money. T

I did two stints as a freelancer. First stint, I was hyper specialized in a industry where I had a good reputation. Did it for a year, made a ton of money. Took a job offer from a customer which ended it. Only real mistake was miscalculated quarterly income taxes. Second stint, same industry but it was retracting, so I expanded my services and marketing to include general industry digital needs, spent 13 months and made 15% of what I made my first foray into freelancing. Mistake here was not recognizing the writing on the wall and turning myself from a hyper-specialist into a generic do it all that made me just one of a million of which 999,999 of my freelance competitors could afford to undercut my rates. After 3-6 months it would have been much better to put my efforts into actively searching for a FT job instead. Basically I burned through 6 months of savings until I got over my pride.