Guest blogger Angie Nelson has been a virtual assistant and serial blogger since 2007 when she took her future into her own hands and found a way to escape the corporate cubicle farm. Today she shares her passion for making money from home on her blog The Work at Home Wife. Visit her site for a list of virtual services you can offer to others.
According to McKinsey’s Global Institute, as much as 30% of the adult workforce is involved in some type of independent work today. Many of those are contracting in what we now call the “gig economy” in that they are not exclusively working for one employer or on a set schedule but can instead pick and choose the work they perform and when.
What started out as a necessity for many displaced workers, the gig economy has become more and more appealing to the masses as it provides the flexibility and profit potential so many seek. It’s only expected to grow in the new year. Here are a few ways you can up your earnings in 2017.
Diversify Your Offerings
Every freelancer and independent contractor knows the importance of diversification. If you put all of your eggs in one basket – or one gig in this case – you are putting your income at risk. Workflows in every industry experience natural ebb and flow which means you will have some downtime regardless of your availability if you are working with a limited service list.
You can protect yourself (and hopefully increase your earnings) by diversifying your offerings. And, the beginning of the year is also a great time to analyze your gigs for popularity and profitability going forward.
As an example, a few years back Gigs like blog commenting and forum posting were popular offerings on Fiverr. Today, the landscape is changing. One of the most in-demand social marketing activities for 2017 will likely be audio and video. What skills do you have that will allow you to get in on the action? Additionally, increasing your Fiverr Gig portfolio with complementary services can expand your presence on the platform and increase sales through customer loyalty.
Work Smarter Not Harder
With all of these opportunities to keep us busy – or at least glued to our computers or smartphones trying to pick up gigs first – it’s easy to overlook our real time investment and return. In 2017, make it a point to find out how much time you are spending on administrative tasks like scheduling gigs and bookkeeping versus the time you are actually behind the wheel, keyboard, or dog leash.
Once you have those hours logged, divide our earnings by your hours worked to see how much you are actually earning per hour. Maybe you need to make some changes in your efficiency or focus on better-paying gigs. The most important thing to remember in the freelance world is to not let yourself be taken advantage of and that responsibility falls on your shoulders.
If This Then That, IFTTT, is an awesome free service utilized by many self-employed individuals. Applets allow you to link common services, apps and devices to trigger specific actions when rules are met. As an example, there is an Applet that will add a task to your Google Calendar when you receive a Fiverr order. There is also one that will send out a tweet when you receive a positive review from a Buyer.
Every independent contractor knows the importance of maximizing every dollar and every hour. A few small tweaks can help make 2017 your best side hustle year yet.
Have tips for adding to your Gig Economy income in 2017? Add them below!