Archive for December 2017

The new gigconomy: more opportunities, less benefits, but more flexibility

I know a friend who has no real job. At least not in the traditional sense of the word, you know, the 9-5 one. But if you are talking gigs, then he has 3 of them going on at once. Maybe even 4 at times.

Let us call him Mr. Gigsmith (name changed for the friend’s privacy) . Gigsmith is making a living from the following 3 different sources:

-Google Adsense (money from adverting banners and links on his websites)
-AirBnB: money from renting his downtown condo to tourists and other visitors, by days, weeks or even months.
-Uber: as if all of the above is not enough, he also drives for the popular ride-sharing program ‘Uber’.

the gig economy: you can’t resist it so may as well join it.

What is the common or dominant theme between these 3 is the independence and flexibility it gives Gigsmith. It ties him to no schedule nor does it require he has to be on a desk from a certain time to another. In fact, he can choose to work or take a vacation at anytime he likes.

According to various reports, more and more people are resorting to the gig economy for one reason or another. But the top reasons include:

-Flexibility it provides
-Ones’ belief that they can make more money in the gig economy
-Inability to find other jobs
-Some form of psychical or time limitation (i.e have FT school)
-Millennials: they embrace technology and are less traditional and loyal when it comes to their careers.

I think a lot of us can benefit from one of these gigs, even if we already have a full time job. Since you can’t resist it, you may as well join it and make some money from it.