Freelancers, independent consultants and contractors, side hustlers, and part-timers all form a part of the global phenomenon known as the Gig economy.
Not that it didn’t exist beforehand, but now it is becoming even more prevalent after the obvious!
Yes, the coronavirus disrupting the employment world in 2020, there has been an increase in the number of people joining the Gig economy since 2021. This shift was also influenced by the need to find more flexible work.
Technology has been an essential tool in this growth as most of these workers get work online.
Apps and websites such as Uber, Fiverr, Upwork, Etsy, and Instacart are facilitators of this since you can work from anywhere. As long as you have a way of accessing the website/app for work.
But you can also join the economic gig sitting at your home. How? Let’s find out!
Understanding What Your Purpose Is
Before you join the thriving gig economy, you must understand why you want this as an income option!
A comprehensive sample of freelancers reports that work is more than just a paycheck. You need to know what you’re passionate about because there are times when it will get complicated, and you will need to remind yourself why you followed that path.
Assuming you have had a job as a car mechanic for the past three years and are considering switching to a job that involves car modifications.
Make sure you understand what it is about car modifications that make you want to take the risk.
The Uncertain Nature Of Work
Most people do not join the gig economy because of the uncertainty surrounding this type of work. While starting, income will likely fluctuate, which is a good reason for you to set up an emergency fund for yourself.
You should jump into the first opportunity that comes your way without necessarily compromising your work’s worth; you must gauge the work-time-to-pay ratio of a task before taking it up.
But since you are starting, you might need to make a bit of a compromise. Say you would like to work on modifying sports cars, but the available clients’ own vans and trucks, don’t ignore this sort of work. Instead, accept the job, order some plastic molding company RYD tooling merchandise and get to work.
Time Management Is A Must
Sometimes people lean onto this type of work because of the lack of forced discipline implemented by a traditional 9-5 job!
No more regular reporting to a manager or reaching the office on time despite the tumultuous commute.
However, the lack of accountability towards others essentially increases the need for autonomy. Especially if you want to improve your steady flow of cash as a freelancer!
Remember, since you will be both the worker and the boss in this work environment, you must let personal calls, texts, and emails go unanswered while working. Employ the use of time tracking apps to understand how much time you spend executing tasks.
Manage your time wisely, or you’ll end up losing gigs over not meeting deadlines.
Set Up A Productive Work Environment
A physical workspace plays an essential role in how productive your work will be.
Before you even begin with the argument, no, you won’t be more comfortable finishing your daily task.
Establishing a workspace can involve setting up a home office or finding a corner table at your local cafe; either way, you need a space that brings out productivity in you.
However, if you’re an individual who likes organized office spaces, you should try out a shared office space that could be closer to what you need. Be open to converting your home garage into a commercial space.
Establishing A Routine
Morning routines play a crucial role in how your day goes; some have reported that on days they miss performing their morning routine, they end up being less productive than on days they achieved it.
You must establish a routine such as meditation, working out, taking a walk, etc. Just do the things that help you arrange your thoughts, and make sure you do the same each day.
Communicate Your Worth
Performing work and later realizing that you have undercharged a client is one of the few ways you can demotivate yourself. Ensure that each time you get a client, you inform them of how much you will charge for their work.
If you maintain discipline in doing this, you might end up being among the top percentage of freelancers earning more than $100,000 per year.
Finances
Stay on top of your finances to ensure that you stay on top of things when it’s time to pay the tax.
Differentiate between your business and personal accounts, pay your taxes, save up for retirement, and track all your expenses versus the income you get.
Healthcare Plan
Being a freelancer does not come with the healthcare plans that a corporate job will have; you should acquire healthcare coverage.
Research the various options available to you and find the best one for you. If you have a spouse, you might qualify for their coverage, so consider that option too.
Socialization
This line of work is characterized by hours of work where one is alone; researchers have established that they are repercussions to isolating yourself for so long.
You should find a group of peers that you can share experiences with. You could even have a group of people you hang around to ensure that you are not always alone. Being alone might have adverse mental effects on you.
Redefining Success
In traditional careers, success comes with a level of job security that you cannot equate to in the gig economy, so you should redefine what you term success.
You could consider a successful career as one that has a balance between predictability and possibility. One that promises continued work and allows one to feel alive, present, and authentic in their work.
The benefit of working in the gig economy is that you will still overcome the struggle no matter what happens.
How To Prepare Your Portfolio As A Freelancer?
Your portfolio is your digital shopfront, and you need to get it right. If you’re an aspiring graphic designer, writer, web developer, or consultant, whatever the field, your portfolio represents your work and what you can do.
So, how can you make sure it stands out in the gig economy?
Choose What’s Best
Don’t show all the projects you have done. Show only the works which will portray your potential and strength. Put yourself in their shoes. If you were to hire someone, what would you like to see? It’s about quality not quantity.
Create Your Art (…If You Have Nothing to Show)
Sometimes, people just need to see it to believe it. If you’ve been working in the background for a while and don’t have much of a portfolio yet, create examples of your work or do some pro bono projects so people can take a peek at what you’re capable of.
Show them Results
It’s good to talk about your skills, but it would be better if you could talk about their impact too. Use testimonials or statistics. Did your work bring in new clients?
By how much did you increase traffic? Did revenue soar after your project launch? The statement “I designed a website” suddenly becomes “I increased traffic by 35% in three months”. Which one is more likely to attract attention?
Keep It Updated
A stale portfolio can leave a bad taste in an art director’s mouth. Commit to reaching out and refreshing your portfolio every quarter with new projects you have completed.
Humanize Your Portfolio
Be personable. Make a connection. Introduce yourself as if we were sitting across from one another at a coffee shop.
Clients want to connect with the person behind the work. Include a short bio to share your journey and your approach. Even a fun fact or two can help potential clients feel more connected to you, making your portfolio stand out from the rest.
Make It Easy To Contact You
Your portfolio needs to have clear contact options. Link to a form, your email, or social media.
Ensure people can get in touch with you easily to hire you. You’d be surprised at how many great portfolios I’ve seen with no contact information that just leaves me wondering “HOW DO I HIRE THIS PERSON!?”.
So, do not make the same mistake!
Are You Ready For Gig Economy?
The gig economy is vast and keeps growing each day, but there is one thing that never changes about it: the fact that you are the one who defines everything.
So, before you switch from your traditional employment career, make sure you can handle all these aspects on your own first.
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