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Here’s How Google Defines The Gig Economy
Per Google search – A gig economy is a free market system in which temporary positions are common and businesses contract with independent workers for short-term engagements. The term “gig” is a slang word meaning “a job for a specified period of time”.
Here’s a fun fact about Google and the gig economy – Google now has more gig workers on their payroll than full-time employees.
But wait, there’s more. Back in 2017, the CEO of Intuit said “the gig economy is now estimated to be 34% of the workforce and expected to be 43% by the year 2020”. Furthermore, it’s predicted that the “gig economy” will simply become “the economy”, as hundreds of millions of micro-businesses will replace hundreds of millions of 9-5 jobs.
If you look around, you’ll notice that there are gig workers everywhere. They shop for people, deliver food to people, drive people around and do just about anything else you can imagine.
And here’s an even stranger truth: these days you can become a complete hermit and literally never leave your home. Live ever. And you can do that because gig workers are available to do everything you need.
Here’s My Definition of The Gig Economy
You do small, short-term jobs (gigs) for businesses. The gigs are profitable for you. And when you finish a gig, you forget about it and move onto something else.
You are not married to anything. You don’t deal with an idiot boss, annoying co-workers, annoying customers, company politics, stupid meetings, off-shoring, salary-pruning, cost-cutting or any of the other typical business drudge.
You do a gig. You get paid. You walk away. And you do it all on your own schedule, at your own pace and your own way.
It’s NOT a full-time endeavor, second job, part-time job or any other type of employment.
It’s a gig. You only do the gigs you want. You always get paid what you want. And when the gig is done, you move onto the next one…whenever you want.
In the gig life, you and only you decide what work you’ll do, when you do it and how much you’ll be paid for it. It’s freedom 101.
Here’s The #1 Reason Why You Should Be Doing Gigs:
You Never Know When You’ll Have To Rely On Them
Look, I don’t need to do gigs. I have well-established businesses online and have been earning my living from them for over 20 years.
But since 2005, I’ve regularly done gigs too.
Why?
Because you never know when you’ll have to rely on them.
Jobs get lost. Products stop selling. Businesses close. Traffic disappears. Divorces happen. Medical bills popup. And the list goes on of how your income can suddenly disappear or dramatically be reduced.
When that happens, panic sets in and stress begins.
But if you’ve been regularly earning gig money, it doesn’t. You know that you have gigs to fall back on. Gigs that are a proven and reliable way to generate just about any amount of income you need.
Gigs are like a financial security blanket. A backup plan that you can tap into on-demand.
Doing Gigs Is Waaaayyy Easier Than Selling Stuff Online
and You Can Keep Your Full-Time Job Too
Selling any type of product online, whether it be physical or digital, is hard. There’s a lot of stuff you need and even more you need to know.
Graphics, video, copywriting, payment processors, email services, web design, sales funnels, organic traffic, paid traffic and on it goes. Those are just some of the things you’ll need to have (and know how to use) to sell products online.
But the gig life doesn’t require any of that stuff. In fact, most of the time gigs are landed, completed and paid using nothing more than regular email and PayPal.
And let me say it again: gigs are not a full-time endeavor, second job, part-time job or any other type of employment.
You do them because you enjoy doing them in your free time. It just so happens that you’re getting paid for them as well.
With gigs, you don’t have the stress, urgency or expense of “starting a business”. You’re just doing small, short-term gigs for others. Gigs that start to add up. And gigs that typically bring in income far faster than “starting a business from scratch”.
Get Paid For Figuring Out What You Want To Do
Here’s something I hear on almost a daily basis. Someone hates their job, is bored with their job or has no job and wants to start making money online, but they have no clue what they want to do or sell.
Do gigs instead.
First, it’s a way easier and faster way to start making money online. And that’s an important step. Because once you taste your first online dollar, your insecurities fade and you become hungry for more.
And second, you’ll find out in a hurry what you love doing and what you hate doing. If you’re looking for direction for what to do “full-time” online, gigs will be your compass.
For example, maybe you’re thinking about being some type of coach or mentor. Do some gigs first, where you coach or mentor people over the phone. Maybe you find out this is what you were born to do. Or maybe you find out that people suck and you hate talking to them.
Either way, by using gigs, you’ve been paid to find out what you’d love to do or will want to avoid when it comes running a business online.
Use Gig Money To Finance Anything
What you do with your gig money is up to you.
You might earn $25 for a gig, $250, $2,500 or more. It all depends on you, the gig and what it entails. There are plenty of people out there earning 6-figures a year doing gigs. But to me, that’s when the gig life becomes more like a job and not something you’re doing because you enjoy it.
I typically use gig money to finance equipment purchases. For example, I’m typing this right now on a 2019 iMac bought and paid for with gig money. My previous iMac was 7 years old and I needed a new one. But iMacs are expensive. So I did some gigs and used the money to buy a new one.
Maybe you want to use gig money to pay off bills, invest in something, take a vacation, buy a camera or cover your mortgage…again, what you do with your gig money is up to you. They key point to remember is that it’s there for you…and you earned it doing something you enjoy.
Oh, just to show you that I’m not full of crap about this gig life stuff, here’s a look at the payments I’ve received for some recent gigs I’ve done:
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Nick Morton – Supplyant Consultancy Course – Foundation Level
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