Essential Tips for Gig Economy Entrepreneurs

From the advancements and innovations of technological trends, artificial intelligence has presented a rapid growth trajectory in every aspect of life, leaving nothing behind. It includes every channel through which we are living nowadays.

Until the late 2000s, many people believe that the “gig economy” is just a step ahead of being unemployed. However, from the past few years, the concept of the gig has been revolutionized as more and more people are choosing gig work over conventional employments.

According to Intuit CEO Brad Smith, “The gig economy … is now estimated to be about 34 percent of the workforce [in the US] and expected to be 43 percent by the year 2020. We think self-employed [work] has a lot of opportunity for growth as we look ahead.”

However, just because the gig economy is increasing exponentially, offering fantastic opportunities, that doesn’t mean these jobs are easy to have. Mostly, there are hundreds of qualified and experienced individuals willing for a single chance to grab.

Entrepreneurs are the most contributing pool towards the gig economy. They are more prone to benefit from freelance techniques while waving the pain of policies and excessive workouts. According to Small Biz, “US freelancers contributed $1.28 trillion to the American economy in 2018. If the gig economy keeps growing at its current rate, more than 50% of the US workforce will participate in it by 2027.”

Thus, for those entrepreneurs who want to stay competitive in the current gig economy, below are some tips to stand out and find success in leveraging the gig economy.

1. Explore purpose

For many entrepreneurs, work is not just a paycheck. Their primary reason of leaving a conventional workplace is to pursue their goal and passion that aligns more with their interests and values. Finding a purpose in independence is essential to stay motivated and inspired by the uncertainties of the gig economy. Keep reminding yourself that of your purpose and passion when things get greasy to remain resilient.

2. Prepare for uncertainty

Despite applying several tips and tactics to reduce the risks as an entrepreneur, financial insecurity is the biggest reason why people resist the gig economy. Income may fluctuate when you are first starting with your own work. It is recommended to secure an emergency fund to have coverage for drier months. Get a tracking sheet to help you plan budgets and keep your gig records to find work opportunities better and have the power of the networking community.

Uncertainties can be combated by jumping to every possibly available opportunity that comes to you. However, it is critical to select your gig job wisely. Check for the earning that you will get for investing time and energy doing a job. No work is worth being underpaid and undervalued. Thus, you must have at least paying gigs that can actually afford you good pay for living wages.

3. Get a productive space

The favorite advantage of the gig economy to entrepreneurs is that they can be their own boss, and you can dedicate an office space to look and function as per your comfortibility. You can maximize your workspace to fit you the most. Establish a physical work station to feel connected and dedicated like a home corner, home office, or a café. There are many ways to tackle challenges of modern workforce, however you may find home more peaceful to be productive.

Undoubtedly, the gig economy is not suited for everyone. However, some entrepreneurs thrive better in consistent orderly office space, while others may find it difficult for them to adjust in a hectic office environment. Co-working spaces are most popular among gig economy entrepreneurs to check what fits best.

4. Master time management

Working in a gig economy is like having several bosses with different jobs at a time. That’s why; time management is an essential skill to master. There are many pros and cons of gig economy. Sometimes you have to let personal emails, calls, and texts unanswered unless you can spare a manageable time for them. Consider organizing and scheduling your work as per priorities and put efforts in doing tasks that need attention first. This will help you to get the job done within deadlines and facilitate a gig economy.

5. Market your expertise

Entrepreneurs need to have a sound number of opportunities to get succeeded in the gig economy. You may need to specialize in an industry like assignment writing service or have useful certifications. It is recommended to register several work sites or agencies, including Upwork or People per hour, where you will find every hiring organization. The more profiles you may have, the more chances for you to have opportunities. Select relevant work to look for and keep your profile exceptionally maintained. Showcase previous work examples, recommendations, and client reviews to add authenticity to your work.

6. Make routine

Setting a productive routine can help you to enhance performance and focus. Morning routines signal your brain to work better, which is helpful to keep you motivated when there is no physical office to go. You can get your thoughts composed to make you more equipped to handle everything better. Gig economy needs you to get focused and motivated as there may be times when you feel blues. Thus routine flow facilitates you to get the best out of you.

7. Present your worth

It is not good to put your efforts into something that makes you undercharge from the client. If you don’t present your worth well, you may be working hard day and night to make both ends meet. Thus, this may not seems practical to you, and you have to charge as per your worth to contribute yourself better to the freelancer’s gig economy.

8. Manage finances

Just like managing time and client’s deadlines, you have to manage finances well to master a full-time entrepreneurship gig economy. Make sure to keep professional and personal finances separate and do save for hard times and retirement. Do not scare to invest in reliable passive income sources. Track your income and expenses and claim your appropriate taxations and deductions. This will help you to stay in budget and prevent you from being an empty pocket in the middle of the month.

9. Don’t take anything personally

There is a universal truth for the gig economy that you are not going to have every job you have applied for, and that is perfectly fine. Sometimes you may get hired for a job year-round, or sometimes you may have to sit unemployed for weeks. It all depends upon the fact that not every person is fit for every situation. Keep your mind open and be persistent in maintaining a positive image with your potential employers. The right opportunity will definitely come to your way.

10. Build your reputation

In the world of the gig economy, the thing that matters most is the people you know. Therefore, you need to build meaningful relationships with employers. Drive scorpion jacket developers present a perfect example for this. Positive follow-ups can increase your chances of getting hired again. Maintain your personal brand and be an ideal employee by finishing your job on time with quality delivery.

Take home message

The gig economy is growing exponentially compared to the conventional work forms. The reason is, employees lie to work flexibly from home independently. You just need to establish your purpose for the value of your work so that the world will too. By this, you will get opportunities around.


Claudia Jeffrey

Claudia Jeffrey is qualified in finance and marketing. She is an avid writer and owns a blog named Word Count Jet. Claudia has a rich work experience in research and development. Currently, she is working as Assistant Manager for research and development at Crowd Writer, exclusive coursework writing service providers in the UK.

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