Tag: upwork

GIG RIGGED THE NEW PROFITABLE NORM IF DONE RIGHT

I will keep saying this and shouting it to the top of my lungs, but we’re living in the best of times as independent contractors, self-employed, giggers, side-hustlers, small business owners, etc. It is as if this time was created specifically for us all and though this time of opportunity is abundant it does come at a cost and readjustments.

For well over a year or two I have been speaking of the importance of gig workers establishing LLC’s. of their own and building a “gig business” of their own. I foreseen the need of the gig economy growing immensely. Some times thinking my calculations may be wrong I always ended up back to the the reality that the gig economy is here to stay and will be the new norm! Now, with Covid-19 my predictions reigns even more true!

So what is the cost of all this? The cost is moreso of an internal one causing for a mental shift and acceptance of this type of work life. As a gig strategist and gig coach the biggest thing that get in the way of most giggers is their need for immediate gratifications and lack of creativity on the platforms. They don’t see all the various aspects of the gig economy that can make them even more profitable, the great thing about this is many of them are exiting the gig economy in droves! This great exodus will become another profitable factor for those of us that do see the massive opportunities within this sector of work. We will begin to see a massive infusion of the professional turned gigger!

In many of my other writings I spoke of mainstream traditional employers embracing the template of the gig economy here’s how/why:

  1. Contracting / Outsourcing employees (in high demand).
  2. Less financial risk with contracted employees.
  3. On-boarding process is quicker.
  4. Doesn’t have to provide traditional incentives for employment.
  5. Serves as a trial run for potential hiring on employees full-time.

Why many contractors are taking advantage of the gig economy:

  1. Flexibility! This is a major one,
  2. Less commitment.
  3. Earn more upfront and use the money to pay into outlets of their choice i.e. retirement, assets, healthcare, etc.
  4. Many can work from home or remotely in the field.
  5. Less demand from authorities and oversight.
  6. Work freely.

The gig economy is not to be limited to delivery services of food and goods, nor limited to rideshare. The gig economy is made up of software engineers, truckers, administratives, virtual assistants, bookkeepers, etc. Covid season has proven this. With the majority of employees working remotely from home this proves to be true. So with this being the case why wouldn’t a business or corporation take this opportunity to minimize costs such as overhead, pay employees more, but as independent contractors? Is this possible? I think it is and know it is! Though with traditional employees still wanting employers to offer great health care options, 401k, and retirement types, that incentive is dying out massively; and employees are preferring their money upfront with the choice of purchasing their own options.

There will be a learning curve and many adjustments as this progress, but I believe if one educates themselves on these options and embrace the gig economy right, they can become highly profitable and more in control of their lives and earnings. The gig economy has a sexiness about it that can catapult you into abundance or serve as a great destruction. What is key is discipline, money management, and creating safe holdings of finances for unexpected issues.

side gigs the new permanent employer

“THE GIG LIFE IS REAL LIFE MONEY”

The gig economy has gotten the recognition and promotion it so desperately needed, it wasn’t a matter of when but how it would come about. So many ups and downs, lawsuits, and confusing legislations “giggers” were left in limbo until this covid-19 season awaken the lack of identity and purpose in the gig world. One minute you’re classified as just some Uber driven, next you’re an essential worker! What, well how I see it we’ve always been essential, no we do not have a fancy title, no we’re not like our awesome military and law enforcement officers guarding our communities, no we’re not like the nurses working endless days under stressed filled hospitals, but we are serving in an odd capacity that awards some appreciation.

Now, I am no way trying to glorify and gas up us as rideshare drivers, delivery persons, and freelanced digital nomads, by no means, but more-so wanting to highlight how the gig economy worker contributes to society in an unprecedented way. The state of gig work is woven now into our lexicon or way of life; it’s a real thing a real task, so real that well over 57 million individuals partake in the gig economy on some level in the United States, that’s massive, that is over 1/3 of our current workforce. We now see the importance of a virtual workforce, a workforce I seen long ago emerging out of the shadows. With this unfortunate event employers are going to jump on this opportunity to taking their business virtual in every capacity we will see a digitalized brick and mortar and they’re justified to do so.

Now, why do I say side gigs are the new permanent employer I tell you why, because if you do not mind the risk, the ability to manage yourself as a gigger, and be open to temporary assignments then your’ ability to virtually be employed be-it for yourself as an independent contractor or employee, it will be endless. With this said, I warn of those within the gig economy getting to comfortable with 1 or 2 gigs, my philosophy is to incorporate and build a rapport with as many as possible (gig platforms that is). You do not want to get trapped as the employee, spread yourself thin and diversify outside of rideshare and deliveries as gigs.

More employers are seeing the added benefit cost wise in outsourcing various tasks that once would require staff, even teams of staff. A virtual assistant, virtual bookkeeper, software engineer that can remotely handle IT issues is a sure win! Less cost in overhead and expenses, mind you often not having to pay into various payroll taxes and incentives. Both sides has its losses, but for many it’s a win win!

There’s nothing really knew about the gig economy, it has been around for decades, but what it new is how its viewed and what exactly it entells. People like myself see endless opportunities and possibilities within it. From Lyft drivers to Doordash delivery person, to virtual handymen, to online medical services the gig economy takes the win for years to come!

The photos you see are from my ebook written earlier this year titled GIG ALERT, whereas I dive in deep on the various aspects of the gig economy and especially a chapter dedicated to businesses to see its ability to maximize its earnings as well as savings by incorporating the gig business model. For purchase be sure to visit my website at https://www.ceodriveher.shop click on the ebooks tab and purchase among many of my other reads.