2 kinds of hand held meters. 1 measures reflected light; the other measures incident light. Sometimes they're combined in 1 instrument. I have a Luna6 Pro that does this. Used it extensively with a rangefinder camera that did not have a light meter. It had a spot meter attachment too. At that time in-camera meters weren't all that sophisticated. They are now.
The incident light meter you place at the position of the subject, normally, and face the camera. Really useful for studio photography where you may be in front of the camera tidying up the scene anyway. Another use? doing landscape photography, if the light is uniformly distributed (same where you are as the subject), you turn around and take a light meter reading. Very good in my case for skiing photos.
So a reflected light meter, you point at the subject and take a reading, or even series of readings.
An incident light meter you point towards the camera from the subject's position.
I found that I learned a lot about light using a handheld meter. It was a really valuable experience.
Generalizing, a handheld meter is specially good for studio work.