The Covid-19 pandemic, with its limitations on movement and forced isolation, has only confirmed what a lot of experts have been saying in the past several years. The gig economy is here and it is not going anywhere anytime soon. Between 20 and 30% of all workforce in the United States and the European Union is a part of it. More than 160 million workers in some of the most developed countries in the world work in the gig economy. In the United Kingdom alone, there were 4.7 million people involved in some form of the gig economy in 2019, more than double compared to 2016. The number of independent workers in the EU, also known as freelancers, increased by almost a quarter from 2008 to 2015. There are 24% more of them now, reaching 9.6 million. With the recent changes imposed by the outbreak, that number will probably be much higher, once the 2020 statistics are in. so, how do you become a part of it?
Advantages of Side Gig
One of the biggest advantages side gigs offer is that you can determine the number of hours you put in. Your level of involvement is entirely up to you, and you can dedicate as much or as little of your time to it as you are comfortable with. That means that you don’t have to quit your regular 9 to 5 job to get a side gig. You can keep doing both until you are certain that your side gig is a viable option for full-time employment. Even if you decide that you don’t want to do it on those terms, a side gig is an excellent source of extra income, something most of us sorely need these days. There is little risk involved, unlike the decision to start your own business. That is why a lot of people see side gigs as an excellent opportunity.
Do Your Research
Often, even side gigs require some initial investment. Before committing to it, make sure you have done your research. For instance, if you decide to start a casino affiliate side gig, make sure you are familiar with all the programs out there. Imagine discovering after a year or two that you could have made twice the money you did by simply choosing a more lucrative network. No matter how successful you are, that discovery will sting. The worst part will be that the mistake could have been avoided easily, had you just spent a little more time researching your options.
Choose Your Field Carefully
Many people make the mistake of choosing a field that offers the biggest profit opportunities, as opposed to the one that they are passionate about. In the short term, that may work out, but the day will come when you will regret it. Yes, the money is important and ultimately it is your goal to earn as much as you can, but not at the price of hating the work. It won’t be long before your motivation starts waning and you end up procrastinating because the idea of working repulses you. On the other hand, if you choose something you actually enjoy doing, even if it pays less initially, you will earn more as you will be able to do it longer. You won’t see it as a chore and you will be much more comfortable with it. The best way to develop your side gig is to turn your hobby into an income source. You will be doing something you love and get paid for it, which is an ideal combination.
Decide on Your Goals
It is perfectly OK to see a side gig as something temporarily, a way to earn some cash for a short period of time or a set goal, like saving for a house down payment or your dream vacation. However, it can be important to think long term when side gigs are concerned. Laying down some groundwork early on can help you immensely later on in your pursuits. Getting to know the ins and outs of your chosen profession will be extremely beneficial in the future. If that means you will have to accept less money in the beginning, don’t shy away from opportunities that will help you learn and grow. All that will pay off very soon.
Eventually, the time will come when you won’t be able to handle all the aspects of your side gig yourself. Many people try to ignore this and try to push through, ending up doing sloppy work and missing deadlines, destroying their hard-earned reputation, and losing clients in the process. Don’t make that mistake. For starters, hire an assistant, somebody who will handle correspondence and other mundane tasks, while you focus on the important stuff. It may cost you a little, but you will be able to take on more work and more than pay off that expense.