The Vital Components of Thriving in the Gig Economy

22 March 2021

Freelancers, independent consultants and contractors, side hustlers, and part-timers all form a part of the global phenomenon known as the Gig economy. With the coronavirus disrupting the employment world in 2020, there has been an increase in the number of people joining the Gig economy in 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.

For individuals considering joining such work, several things are critical for your survival. They include:

Understanding What Your Purpose Is:

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 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 work 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:

The majority of people do not join the Gig Economy because of this type of work’s uncertainty. While starting, income will likely fluctuate, 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:

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 in 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. 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 that 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:

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 on 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 for you and get the best. 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 there are repercussions towards 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 as a 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.

Conclusion:

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. Be great.

Read Also:

Ariana Smith

I enjoy writing and I write quality guest posts on topics of my interest and passion. I have been doing this since my college days. My special interests are in health, fitness, food and following the latest trends in these areas. I am an editor at Content Rally.

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10 Lucrative Online Gigs You Should Try Now

Need work? Don't have a good-paying job? What if you have a job but just can't make ends meet? In most cases, working a single job might not be enough for those who need the cash or those who are in debt. Although your job might be paying good, the odds might be stacked against you, which is why you should look for excellent online gigs to help you earn more. Of course, online gigs are only part-time jobs, so you get to have a say on when you work it. Having a flexible schedule means you don't have to part ways with your full-time job. As long as it's paying good, and your body can handle it, then go for it. Although most consider online jobs as part-time, some posts can offer full-time slots, which makes it more lucrative. With that said, here are 10 Lucrative Online Gigs that you should give a go to earn extra money: Disclaimer: The majority of the figures used in this article are estimates and come from this reference. A lot of factors can influence how a person earns — for example, skill, age, experience, knowledge, etc. 10 Lucrative Online Gigs You Should Try Now: 1. Virtual Assistant: There are lots of businesses that work online and heavily rely on VAs or Virtual Assistants to do administrative tasks. The tasks VAs do can depend on the company's transactions. Typical functions for VAs include responding to emails, making appointments, scheduling meetings, distribution of documents, etc. Rate: $15-$75 per hour 2. Freelance Writer: Writers often come up with articles, ideas, blog posts, and other necessary content for a project or client. The demand for writers is high, as most clients and jobs often look for excellent writers to create unique, high-quality work. Rate: $150-$1500 per article or content created 3. Teacher for Online Courses: Although this job may require you some certifications to proceed, teaching online can be an excellent way to earn money. Specific fields often need people online to impart knowledge to students. The most common teaching jobs often involve language subjects. Read more: Online Schools The Only Source For Personalized Education Rate: $1500-$2500 per semester 4. Greeting Card Designer: Everyone can do this job easily. Even if you don't know how to draw, some programs can help you design stuff with ease. You also don't need to draw well to write greetings, slogans, mottos, etc. Rate: $275-$500 per accepted illustration 5. Online Reseller: Being a reseller means you have to have some capital before you start. Don't worry, though, the money you'll need isn't that big. You can sell items such as USB cables, memory cards, mobile phone screen protectors, etc. Rate: Depends on your overall profit 6. House Sitting: Some families don't feel secure when they're on vacation. This is where online house sitters come in. As the name suggests, you just watch their house while the owners are gone. Aside from being extra attentive with everything going on, that's just it. Rate: $25-$45 per day 7. Social Media Manager: As social media is a crucial part of a business to succeed, some of them rely on social media managers to take care of their social media profiles. These people are responsible for posting timely content, managing messages, requests, shares, views, likes, etc. Rate: $16.68 per hour (average rate in the U.S.) 8. Medical Transcriptionist: Some agencies or clients may need certifications for this job. Medical Transcriptionists transcribe orders from a patient's chart, transcribe any orders that come through the phone, medication orders, etc. You need a computer, a suitable earpiece, good hearing, and keen attention to detail for this job. Rate: $17.17 per hour 9. Web Developer: Web Devs are in demand because they have the know-how on managing websites, creating one, and all the other technical, demanding stuff such as coding. Businesses who want to get online always get in touch with web dev. Rate: $119,550 annually or depending on the project 10. Translator: If you're fluent in two or more languages, then you can perfectly work as a translator. Industries that need translators are numerous. Some of your clients can come from hospitals, educational institutions, technical services, government sectors, etc. Rate: $30 per hour (average rate in the U.S.) Takeaway: If working a single job can't make ends meet for you, then you can try the jobs mentioned above to help you earn extra cash. Remember, work hard enough, and you'll soon reap the rewards. Read Also: 5 Places To Get Fast Cash 5 Ways To Make Money From Home 5 Reasons Why You Need To Hire A Career Coach

Don’t Get a Second Job: 10 Unconventional Ways to Make Money

Merriam-Webster dictionary has listed the term "side-hustle" as one of the words/terms to watch because of the huge increase in popularity of the term. So, what is a side-hustle? A side-hustle is something separate from the main job that can earn you money, recognition, clout, and more. It can be a part-time job, or it can be something extra you do, well, on the side. Not everyone has time to dedicate to a part-time job, but that doesn't mean those people don't need extra money to supplement their income. In fact, an estimated 37% of Americans have a side-hustle to help them with bills, loans, and general costs of living. But if you don't have time for a part-time job, what can you do? Well, it turns out there are a lot of things you can do to earn some extra cash. Here are 10 unconventional ways to make money on the side from home. 1. Sell Your Stuff: This is pretty simple stuff that everyone from adults with stores to kids with lemonade stands knows: goods can be sold in exchange for money. So why not sell stuff you already have in your possession that you don't want or need to get some extra money? Let's go over some of the best stuff you can sell for the biggest profit. Electronics: Old TVs and VCRs need not apply since these can be found by the truckload at any thrift store. But selling new and lightly used modern electronics like laptops, the newest phones, and headphones can make you a nice wad of money. Try selling these things at pawn shops, on Craigslist, or electronic selling websites like Swappa. Clothes: Nice and lightly worn (or never worn!) clothes can be sold for fast cash. You can sell nice brand name clothes online for serious money (this Supreme shirt sold for fifteen thousand dollars!) or you can hit up consignment shops. Precious Metals and Gems: Gold, silver, platinum and other precious metals consistently sell for a large amount. Sell old jewelry, watches, and more at pawn shops or jewelers to make some extra money. You can also sell gemstone jewelry like rings, necklaces, and bracelets. Diamonds will sell for the most money, but any gemstone will be valuable on resale. Gift Cards: Have you ever gotten a gift card from your distant relative on Christmas that you know is going to lay forgotten in a drawer, sad and unused? Well, you can sell those gift cards for cash on websites like Cardpool.com. Textbooks: Every student in the world knows that the cost of textbooks closely rivals that of student loans and tuition. If you have textbooks from school leftover, sell them for a nice profit. Blood and Plasma: Besides material goods, you can sell your body, for science and medicine that is. Between selling your blood, plasma, and bone marrow a bone marrow along with participating in paid medical research studies, you can use your body to your advantage. 2.Become an Egg Donor: Speaking of selling parts of your body, if you have eggs, you can sell them to egg donation and surrogacy agencies for some serious money. This is a serious decision that will take a lot of evaluation, medical testing, large needles, and more. However, you can make tens of thousands of dollars doing this, so it's something to consider if you need the money. Be sure to learn about it before you dive in, though. 3. Rent Out Your Home: Have an extra room that never gets used? What about a guest house or an extra property? Rent them out to tenants for some consistent passive income. You can also put them up on sites like Airbnb if you don't want to become a landlord. 4. Give Your Opinion: Online surveys, in-person focus groups, and paid college research studies are all willing to give you cash in exchange for your opinions. Join survey sites to get daily surveys that can earn you quick cash for 10-15 minute surveys or large sums for long-term focus groups! 5. Rent Out Your Vehicle: Similar to renting out rooms in your home, you can also use apps and websites to offer your vehicle up for rent. This could be a secondary vehicle you have or even your main vehicle that you aren't using for certain hours or days. One of the best ways to do this is through the service Turo. This provides you with liability insurance while letting you set up your own costs and rates for your car. 6. Save Up Some Change: Remember your childhood piggy bank? The service "Acorns" is the adult version of this. Acorns automatically round every purchase you make with a debit or credit card to the nearest dollar. It then automatically saves this change for you. While a few pennies and dimes here and there doesn't seem like much, it will add up in the long run just like your piggy bank did. 7. Start Investing: Investing in stocks, companies, and specialty bank accounts might seem daunting, and it is at first. Brush up on investment strategies and information before investing any of your money so you feel safe and secure doing so. Once you feel ready, you can start putting the money you already have into stocks, savings accounts, money markets, and more. This will make money from the money you already have. There are even apps and websites for beginner investors to help you out. 8. Take Advantage of Your Hobbies: Certain hobbies can prove to be lucrative if you play your cards right. Writing: If you love to write, why not write a book? If you write a book and get published, this is a great way to make some passive income while also feeling creatively fulfilled doing something you love! You can also write articles for magazines, newspapers, and online websites. This won't technically be a job since you're doing it for fun as a hobby, but you might as well make some money off of it if you can! Blogging: Speaking of writing for online websites, you could start writing for your own blog. If you're able to build up an audience, you can make great money with advertisements, views, guest posts, and affiliate marketing. Photography: Do you love taking photos? Are you pretty good at it? You can sell your images to stock photo sights, journals, and newspapers for some great money. Art and Crafts: If you make are like drawings, prints, paintings, sculpture, jewelry, woodwork, or anything else crafty and interesting, you should try to sell it for some extra money. You're already creating these beautiful items, so you might as well sell them for a profit while you're at it. Try selling these things online, on websites like Etsy, or at art/craft fairs in your local area. 9. Contests and Giveaways: Search the web for free contests and giveaways that you can enter. These types of contests can reward you with money, technology, travel, and other valuable prizes without you having to do anything except fill out an entry form. If you don't win any cash in a contest, you might win items that you can sell for cash. 10. Advertise On Your Car: If you have a car, you should consider renting it out like we suggested earlier. But if you're a bit nervous about doing that, you can still use your car to make some extra money by teaming up with a company or business. They'll outfit your car with stickers, wrapping, or other advertising tools so that your car will be a 24/7 advertisement for them. How much you make will depend on: The size of your car Where you drive How much you drive per day The company you work with While this does significantly change the appearance of your car, it can make you hundreds of dollars per month. Unconventional Ways to Make Money: Final Thoughts: While this list does give you 10 great unconventional ways to make money, it's far from a comprehensive guide. Take the first point, for example. You can sell almost anything in your home for money, not just the things we listed. Hopefully, these 10 things spark an idea in your mind that will help you make some extra money without having to commit to a part-time job on top of everything else you're juggling. Looking for more finance tips? Check out the finance section of our blog to learn about everything from investment tips to how to save money for retirement. Read Also: 7 Simple Tips To Pay Off Your Loans Faster Quit The Rat Race: 5 Tips For Becoming An Online Entrepreneur

5 Ways to Make Money from Home

Life is full of surprises and good things come with a price. When students go to colleges and universities, all they think about is how they could earn money during their free time. For the employed ones, they look for ways to earn money during their free time. Either way, the money we earn does not get enough because even if you are highly paid in the workplace, you’ll still need to buy something and when you get it, you desire to buy something even better. Besides, if you are looking for extra money to pay off debts, boost your monthly income, support your family, or save for your retirement, there are a thousand and one ways to make money. Based on your expertise, schedule, skills, and situation, money-making opportunities are all over you such as taking various gigs on the side or looking for a new job. With the current technology, you can make extra money at the comfort of your home using a smartphone, laptop, or computers. If your current salary is too little for you and your family, here are some of the best ways to make extra money. 1. Freelancing : If you are so passionate about writing and doing graphic designs, there are so many freelancing jobs you can land on and get good money out of it. Some of them don’t require technical skills but simple skills and time that someone else don’t. The best thing about freelancing is that it has everything for everyone and you can work for clients from all over the world. For beginners, skyword.com is the best place to establish themselves. You sign up for free, create an account and add the best writing samples. A team at Skyword will review the sample and assign you stories depending on your portfolio and at the end of the day, you will make good money. As a freelancer, you don’t need to quit your job because, with a stable internet connection, you can work after work and during the weekends. 2. Online surveys : The online survey is increasing in popularity as one of the best money-making opportunities, especially among the students. If looking for a side job, you can opt to fill out online surveys during your free time and get paid. There are many research companies across the world that hire new members to test new products and answer surveys, and you could be one of them. Filling a form takes a few minutes and some of them are paid as much a $5. For starter, you can make extra money on these online surveys; i-Say, The Opinion Panel, MySurvey, YouGov, Hiving, Panel Opinion, Branded Surveys, Harris Poll, New Vista, PanelBase, among others. 3. Virtual assistant : If you possess exceptional communication skills and a good computer, its time you start making good money with what you have, and it could be no better than becoming a virtual assistant. As a virtual assistant, your work could be typing out emails, setting up appointments, or even buying supplies. The benefit of becoming a virtual assistant is that you work from the comfort of your home and the work can be done outside normal business hours making it a perfect side job to earn extra money. If you are still wondering how to get started, sites like VirtualAssistants.com and Zirtual are there at your service to help you find an executive in need of flexible assistance. Craigslist is also a perfect platform for you to find virtual assistant jobs and on a good day, you can get as much as $100 per hour, but even when you get $25 per hour, it's better than none. 4. Start a blog : If you have an interest in politics, nature, relationships, technology, animals or any other thing that directly affect human beings, you can turn your passion into a money-making opportunity by starting a blog. When starting a blog, you need a tool that can help you to get your content on the web. This tool is commonly referred to as a blogging platform. There are many blogging platforms around, and whether you are an IT expert or not, choose a clear and simple platform such as WordPress.org. Select a perfect domain name that focuses on the brand perspective, human perspective, SEO perspective, and legal perspective. Set up your blog and then configure and design your blog. By designing a blog, you give your blog a good face that can attract people to your site and make them stay. Finally, start creating great content that people may be interested to read. Go a step further and upload your content on the web and share it through your social media platforms. After sharing, engage your readers by reaching out to them personally, responding to their comments or doing any other thing that could make them come back. With the readership you have, you can start making money through one or more income streams such as advertising income, affiliate income, events, recurring income, and promoting a business. With continued work and experimentation, you can make good money out of blogging. 5. Tutor online : If you are good at any subject especially in the technical areas, you can monetize your expertise by teaching high school students or adults with less knowledge or experience than you in those particular areas. You do not have to fix your schedule and meet every interested person because you can teach them through online tutoring. In layman’s language, online tutoring is teaching in a virtual or networked environment whereby, learners and teacher are separated by space and time. All you need is a computer or laptop and a stable network and enjoy making money by teaching the subject you love most. Read Also : How To Make Money On Youtube Easy Ways To Make Money Without Doing Much Online Gaming Websites That Make Money

The Vital Components of Thriving in the Gig Economy

Understanding What Your Purpose Is:

The Uncertain Nature of Work:

Time Management:

Set Up a Productive Work Environment:

Establishing a Routine:

Communicate Your Worth:

Finances:

Healthcare Plan:

Socialization:

Redefining Success:

Conclusion:

10 Lucrative Online Gigs You Should Try Now

Creative Ideas To Make Money Through Photography

Tags

Ariana Smith

I enjoy writing and I write quality guest posts on topics of my interest and passion. I have been doing this since my college days. My special interests are in health, fitness, food and following the latest trends in these areas. I am an editor at Content Rally.

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Related

10 Lucrative Online Gigs You Should Try Now

Don’t Get a Second Job: 10 Unconventional Ways to Make Money

5 Ways to Make Money from Home

The Vital Components of Thriving in the Gig Economy

Understanding What Your Purpose Is:

The Uncertain Nature of Work:

Time Management:

Set Up a Productive Work Environment:

Establishing a Routine:

Communicate Your Worth:

Finances:

Healthcare Plan:

Socialization:

Redefining Success:

Conclusion:

Share this Article

10 Lucrative Online Gigs You Should Try Now

Creative Ideas To Make Money Through Photography

Tags

I enjoy writing and I write quality guest posts on topics of my interest and passion. I have been doing this since my college days. My special interests are in health, fitness, food and following the latest trends in these areas. I am an editor at Content Rally.

Leave a Reply Cancel reply

Popular

Follow Us

Recent

Related