If you’re looking to make extra money, you’ve probably considered the gig economy, in which independent contractors can connect with customers and make money online. Although there are no strict rules, the gig economy is often associated with short-term, online businesses that are used for entertainment purposes. Services like Fiverr allow entrepreneurs to get started with just $5 while offering thousands of gig opportunities. While the gig economy has certainly generated a following, it’s not for everyone.
Is It For You?
Let’s get honest here. Working for someone else isn’t for everyone. If you’re looking for a stable career with benefits, the traditional workplace might be a better option. However, if you’re passionate about something, you might be able to find success in the gig economy too. Here are a few things to consider if you’re interested in exploring this side of the digital nomad lifestyle:
One of the things that makes the gig economy so attractive is that you have more flexibility. Most employers want you to be available to work overtime and take time off when needed. In the gig economy, you’re typically expected to work as much as you can to earn as much as you can. This approach can be very rewarding, but it also has its downsides. Being your own boss and having flexibility over your schedule means that life can sometimes feel like a juggling act. You might find that despite your best efforts, you don’t always have the time to finish everything you’ve started. The key is to find ways to maximize your productivity so you can make the most of your available time. If you keep overtime to a minimum, you’ll be making more money in your spare time than you would if you were working a full schedule. This, in turn, could lead to you being able to work remotely for longer periods of time.
One of the biggest draws of the gig economy is that it gives you independence. You don’t have to answer to anyone if you don’t want to, and you wouldn’t have to show up to a workplace if you hate doing that. Traditional jobs give you the security of knowing you’ll have a steady income, but they also limit your freedom. There are certainly disadvantages to working independently, but for some people, the benefits outweigh the risks. The key is to find the right opportunity that gives you independence without limiting your choices. Before you make any decisions, you’ll know exactly what you’re getting into. In the meantime, however, be certain that you’re not selling yourself short. There are plenty of opportunities out there for independent contractors, and you might be able to find the one that’s right for you.
3. Potential For Growth
One of the biggest draws of the gig economy is that it has the potential for growth. You don’t technically need to make a lot of money to succeed in the gig economy. In fact, sometimes it’s preferable if you don’t. The key is to find a way to make money online while being your own boss. The more you make, the more you can make. The only real limit is your imagination. If you put in the time and effort to learn how to make money online, you’ll be able to create your own opportunities and achieve the lifestyle you desire. Plus, all it takes is a little bit of ingenuity to find ways to make money online without breaking the bank.
4. Earnings Can Vary
It’s important to understand that earnings can vary in the gig economy. Just because you made a certain amount of money teaching English in Japan doesn’t mean you’ll make the same amount teaching English in Thailand. The key is to find the right opportunity for you based on your skills and experience. If teaching English in Thailand sounds like a cool way to travel and see the world, but you’re looking for a steady income, you might decide to skip this gig and look for something more stable. On the other hand, if you’re passionate about teaching and want to travel the world, you might find that there are opportunities out there that fit your skill set. The only way to determine for sure is by reaching out to the company directly and asking questions.
5. Remote Work
Another great thing about the gig economy is that it allows for remote work. If you’d prefer to work remotely, you don’t have to be limited to working in a certain place. You can work remotely for as long as you want, as much as you want. This is especially beneficial if you’re looking for flexibility in your schedule. Instead of worrying about what station you’ll be at when a certain project is completed, you can focus on growing your business. Plus, you’ll have the peace and quiet of your own home or apartment to yourself.
6. No Bosses
Another important thing about the gig economy is that it has no bosses. You might be used to having bosses, but these are the individuals who are ultimately in charge of giving you work and paying you. In the gig economy, you’re in charge of your own work and get paid what you’re worth. This can be a very liberating feeling, especially if you’ve been in a job where you weren’t compensated fairly. Finding your own clients and getting paid what you’re worth is a great way to build a business; it removes the stress of having to negotiate your pay. Plus, there are no bosses to answer to, which can be very soothing if you’ve been experiencing stressful work situations. The key is to find a way to make money online that you enjoy and that allows you to grow your business while not having to deal with any bosses. Working remotely for a bossless company may seem appealing, but it can also feel a little bit impersonal. Just be careful not to overextend yourself.
7. You Don’t Need To Have A Degree
Many employers, especially in the tech world, will expect you to have a degree. However, in the gig economy, you don’t necessarily need to have a degree to be successful. It just depends on what you’re applying for. If you don’t have a degree and you’re trying to enter the field, you can use your professional networks to get a job. Don’t be afraid to reach out to people you know and trust for help. In most cases, employers will accept applications from individuals who are currently working remotely. Having a job isn’t the only way to prove your value, either. You can also create your own projects and showcase your talents. Just make sure that you have a way to measure and track your progress. You can use sites like Upwork to find freelance projects that match your skills. Alternatively, you can use platforms like Fiverr and freelancing platforms like Etsy to connect with clients. Just make sure that you keep your expectations in check and that you’re not getting talked into anything that you don’t want to do. Remember, you’re selling your skills, not your time. While it’s great to want to help people, you have to be careful not to overextend yourself.
More Than Meets The Eye
The more you know, the more you realize that there’s more than one side to the gig economy. If you’re looking for flexibility, you don’t have to limit yourself to finding online gigs. There are plenty of opportunities in the gig economy that are almost too good to be true. If you have a specific skill set, like marketing or sales, you can use that to your advantage. On one hand, you might be able to find work in a traditional role while still having the flexibility to work remotely and make extra money online. On the other hand, you could use your existing networks to start up your own business. The key is to find the right fit for you and make the most out of wherever you are. Don’t be afraid to try new things or take risks if they’re what you want out of life. The more you realize there’s more than one side to the story, the more you’ll be able to stand out among the crowd and make the most out of your uniqueness.