Millions of people are drawn to the gig economy because it represents efficient income without a lot of extras. There’s no need to go to the annual office barbecue or get mired in your colleague’s takeover of the department when you can punch in, do your work and move on to something else. This is as true for businesses as it is for gig workers. But surprisingly, there are many aspects of the gig economy that can slow you down. Here’s a few tips to cut down on the waste, so you can enjoy more of your profits.
Prioritize Cash Flow
Money makes the gig economy world go ‘round, that’s for sure. Gig workers brought in an estimated $1.4 trillion in 2018. Since everyone has to keep the lights on and the coffee bar stocked, paying attention to cash flow is possibly the most important part of the process. Talking about money is a big taboo for lots of people, but your work can’t progress without it. Set a plan for payments in advance, and you’ll reap the benefits of a predictable schedule.
- Businesses: Manage your cash flow so that your favorite freelancer isn’t waiting on you.
- Gig Workers: Remember to invoice in a timely manner, and spread out income if you can.
Simplify Administrative Tasks
With practically any business, there’s a distinct difference between the work you complete for money and the extra tasks that you have to do that are necessary but don’t produce a dime. Updating a profile, building a creative brief and the all-important payroll–these are things that help you get what you need, but may not give you the satisfaction of a job well done. Set aside time to manage them regularly, and you won’t get snared in bureaucracy’s web.
- Businesses: Keep instructions and guidelines easy to read and remember. Freelancers will be able to stick to them more accurately.
- Gig Workers: Set a schedule to keep track of orders, communication and payments. Try to avoid putting it off until it becomes overwhelming.
Schedule Your Workflow
Some people are motivated by deadlines, procrastinating until the last possible moment. But you really don’t want your doctor or lawyer to operate on that kind of timeline. Flexibility is a frame of mind that you don’t always have the luxury to use. Being able to set your own timeline or work without an office often requires buy-in from customers and freelancers. Start with your deadline and obligations, and count backwards to the best time to place or take an order.
- Businesses: Plan your content needs well in advance, so you can give your writer plenty of time to cultivate a masterpiece.
- Gig Workers: Build in blocks of time for productivity and leisure time. Spending too much time “at work” can make it harder to get things done in an efficient fashion.
Balance Immediate Responsibilities With Big Goals
That old adage about being wise about pennies and foolish for pounds is meant to remind you to keep an eye on the big picture. An on-demand industry like the gig economy focuses on what you can get now, now, now. Sir, this is an Arby’s drive-thru. Why are you asking about training methods and experience?
These days, it’s a balance between the immediate and the future. Make sure you’re satisfying your current obligations without leaving your counterpart hanging on the line.
- Businesses: Separate project-level plans with immediate goals for the moment. If you need to change your order, take a step out of line while you decide.
- Gig Workers: Don’t get lost in research rabbit-holes that drain your brain and kill your productivity.
Avoid Spreading Yourself Too Thin
No one wants to have all of their eggs in one basket. But splitting your eggs into way too many baskets can also get very messy.
- Businesses: Form a small team of gig workers that you can easily manage. You’ll know you have the right number if you can respond to all of their questions and orders in a timely manner.
- Gig Workers: Don’t put too much stock in one platform or customer, but also try to avoid taking responsibility for too many. Keep your projects at a level you can complete without missing deadlines or asking for regular extensions.
The gig economy presents efficiency and excellency side-by-side on a glittering platter. If you want it to work for you, you’ve got to put in some effort. When you’re ready to learn how it works, contact WriterAccess today.
Holly S has over a decade of experience writing in the fields of communication, journalism and history. She obtained a master’s degree in a writing-intensive discipline and possesses years of academic, professional and non-profit experience in editing and arranging for distribution the written works of herself and others. As a professional writer, she has written hundreds of articles and blog posts on topics including technology, finance, home and garden, health and wellness, food and beverage, travel, and education. She has a campy wit and writes well in a variety of voices, from professional to humorous. She has built an extensive understanding of SEO and content marketing tactics to ensure that her writing will reach prospective readers in the right demographics.