Are You Cashing In On the Gig Economy

Having a side-hustle has never been easier. In what’s known as the ‘gig economy’, people are earning extra money on the side, or in some cases, enough money to pursue these gigs full-time. Is the gig economy something you could cash-in on?

The gig economy is a market where short-term jobs are passed on to freelancers all around the world. Paid by the job, instead of one steady employer, these side-hustles could come from Uber, Upwork, Airtasker and even Etsy to name a few. These side-hustles are a great way to earn extra money on the side, try a new skill or chase the dream of a better work/life balance.

With the gig-economy becoming increasingly popular, here’s what you should think about before you get started.

1. Your passion

If you enjoy what you offer in the gig-economy, then the rest should sort itself out. To be successful, you need to enjoy what you do and have a passion for it. Without this, the grind ahead – which we’ll talk about shortly – will be a long and tiring journey. The side-hustle, while being a great way to earn some extra money, needs to be a passion of yours.

So…

What is it then? A new career you genuinely enjoy awaits.

2. A specific skill

The people who are most successful in the gig-economy offer one specific skill. Instead of offering a broad range of services, successful ‘gigers’ focus on their niche and become the best at it in that space. The same rule often applies to business and most things we do.

Instead of trying to please everyone and not doing so well at it, do one thing well for a select group of people.

3. It’s still a grind.

Don’t expect to set up an Upwork account and receive a mountain of high-paying jobs overnight. It takes time to get the ball rolling, you need to assume the first few months to be slow, and often you might need to do your first job for a price below your typical price-point to get a foot in the door.

It’s this part of the process where most people come unstuck. Persistence is the key, and if you can survive this tough first few months, then you have already done better than most. Building an online reputation takes time, and so does earning consistent work. But if you’re willing to stick it out with persistence, then you should reap the rewards down the line.

Before you look into the best way for you to earn a side-income, you must know what you’re passionate about, what your specific skill is, and that you’re determined to be successful.

If you’re going to put time into something, why not do something that you’re passionate about?

Instead of pleasing everyone, find your niche!

And, be ready for the grind. A steady side-income of work that you love doing won’t be handed to you on a platter. But it’s also never been more achievable.

BFX Team

 

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