THE GIG ECONOMY

 


The Gig Economy, On-demand Economy, Sharing Economy, Side Hustle, and Freelance are among the terms used for short-term and flexible jobs often delivered through digital platforms or apps away from a centralized office space for a determined compensation. This engagement is quite a novel means by which many people earn a living; being full-time workers, the unemployed, or even students across various fields and sectors. This is how fast the world of work has evolved over the century.

In this week’s content, we are generally discussing the ecosystem of this labor market and drawing out a few strategies that individuals who are chasing and intend to get some extra income can benefit from. So, we expand a little more on how this economy works, share some tips on how to land a ‘gig’, and a few notes on excelling in the space. Why don’t you grab your notepad and come along with us?

Before we get busy, we want to thank all who have made time to read and share our other works. We appreciate it. If you haven’t checked out our previous works, kindly take a moment after this to look over the other nuggets we have published. Thank you.

So, the gig economy - the emerging newest feature on the labor market is characterized by short-term, flexible, technology-based jobs for job seekers. Though it comes across as a low-lying fruit, there are some downsides as well. Unlike the traditional employment system which seeks to engage employees formally for a probable full-time job defined by an appointment letter after a tall list of measures to scrutinize candidates, the gig jobs are a faster means of grabbing a job without much hustle.

This space offers jobs from across every single sector from Accounting to Zoonotics on various online platforms or apps with descriptions of the task and the respective requirements of any prospective applicant. They are usually put up with the financial value to be awarded when the job is done.  These platforms host the offers from employers for all kinds of offerees to bid for the jobs advertised. They make use of algorithms to match applicants to suitable offers on their profile content.

To start, each applicant is required to register by creating an account and building a profile that showcases their expertise and skills and also indicates their areas of interest for jobs. This involves the indication of how much the worker is worth per a specific time frame, usually an hour. After this, some platforms show a range of offers for the gig worker to bid and await acceptance. Once acceptance is made after the bidding, execution of the task is next after which payment comes. You don’t only get to finish the job and take your money; both the client and the gig worker may rate their experience with each other and this can boost the chances of each of them in another business deal.


WHY CONSIDER THE GIG ECONOMY?

1.      Source of extra income generation. Are you looking to raise enough money to meet your expenditure and get to save some and invest? This is for you.

2.      Flexibility and autonomy in carrying out jobs. Unlike your 8-5 job, you determine your work times for these jobs so long as you can deliver within the timeline.

3.      Harnessing entrepreneurial skills. Some people have business plans while others have plans to become self-employed, this is the starting point for you to have a similar experience of entrepreneurship and make all your mistakes but most importantly improve upon them before you venture into your long-desired enterprise.

4.      Diverse job opportunities. Many in the African space do find themselves in a job that allows them to survive but not what they were trained for or have passion for, but just because the economic environment dictates so. This is a fine opportunity to experience what it feels like to do a job that you have passion for.

5.      Skill development and portfolio building. You can choose to develop your hobby into an income-generating venture or use this platform to excel at what you already are being paid to do in your main job.

6.      Global opportunities. Fortunately, this economy allows parties to transact business from across continents in a very convenient way. In this encounter, you begin to appreciate what it means to work across different cultures and experiences. 

7.      Monetizing talents and latent abilities. In an age where many things sell, even the ‘silliest’ things ever, you don’t want to shelve a very sellable skill while there is a market for it. Get on a good platform, study the dynamics, and start earning.

8.      Work-life integration. If you are the kind who cherishes family time and seeks opportunities to share what you earn from the time you spend away from them, this is it.

9.      Job diversification opportunities. In the gig economy, you can strategically become a data scientist even if you are trained to beat drums.


HOW TO LAND A GIG JOB

1.      Get a cool day to self-evaluate your life (formal and informal engagements plus family life)

2.      Make a list of your strengths, skills, and expertise even those outside of your formal training

3.      Select one or two which you can engage easily

4.      Search the most secured and highly rated platforms about your chosen fields

5.      Get assistance to create a good profile through webinars, a course, or get a coach

6.      Create time to visit the platform(s) to bid and start from gigs you have done before

 

SOME PLATFORMS TO LOOKOUT

The following are some platforms and apps thriving in the new job space and can be looked at. This is by no means replacing due diligence with each of the platforms. Take time to research more and for your information, some of these have restrictions on the location of users. They have been categorized into specific job areas.

Writing, Programming, Designing, Marketing, Data Entry, Virtual Assistantships

1.      Upwork.com

2.      Fiverr.com

3.      Freelancer.com

4.      Gengo

5.      Blend Express

6.      Usertesting.com

Surveys

7.      Swagbucks

8.      Survey junkie

Photography

9.      SmugMug

10.  500px

11.  Photoshelter

  

Teaching

12.  Craigslist

13.  Tutor.com

14.  Care.com

Mystery Shopping

15.  IntelliShop

16.  BestMark

17.  Sinclair Customer Metrics

 

INCREASING YOUR VISIBILITY AND EXCELLENCE IN THIS ECONOMY

1.      Narrow your niche.     

2.      Deliver excellently on your gigs, no visibility beats a recommendation

3.      Be honest in your dealings with your clients

4.      Regularly update your profile and portfolio with recent successes

5.      Make time to study what the market trends are and adjust your pricing appropriately

6.      Invest in continuous learning

7.      Grow your network of gig workers

8.      Manage your time effectively

 

STEPS OF CAUTION

1.      Beware of fraudsters

2.      Verify the Pay Terms

3.      Limited Legal Protections

4.      Lookout for tax implications

5.      Watch out for burnout

6.      Work-life imbalance

We are hopeful this piece of work may find you or someone you know a decent extra or even mainstream income to live a more abundant life fluffing your desires and goals. Please do share your thoughts with us in the comment section. Your feedback makes us serve you better.

 

THE COLLEGE BUSINESS CONSULT

thecollegebc@gmail.com

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