The World of Work is changing

Yes, the world of work is truly changing, and in an accelarating pace!

Only in the U.S. the gig economy  predicts to rise from 15.5 million people in 2015, to 60 millon people (43% of the US Workforce!) in 2020 (Nasdaq). If you ask me, that’s a large increase in just five years. And this is only in the U.S. This is happening all over the world (in different paces of course).

“Projections show that by 2020 43% of the U.S. workforce will be freelancers” 

According to the World Economic Forum, this rapid change is maninly due to four major trends:

  1. Shifting demographics, dynamic workforces
  2. The rise of the indivual choice
  3. The technological revolution
  4. Client sophistication and the dawn of data

Since there is those major changes going on I would like to share Sara Hinawi’s TedTalk with you: “How to succed in the gig economy”. Hopefully it will help you in your future success in the gig economy.

The 10 best paid gigs of 2018

The BBC defines the ‘Gig Economy’ as “a labor market characterized by the prevalence of short-term contracts or freelance work, as opposed to permanent jobs”.

On-demand hiring promises lower costs, but it also creates more competition for talent where traditional workers’ career paths are phased out and are now replaced with temporary jobs focused on skill. Don’t only think of gigs as side-jobs or short term assignements. For the right person there’s a variety of cool and nice gigs out there. Just take a look at this list of the highest paid gigs of 2018 (Source):

1. Deep Learning/Artificial Intelligence: $115.06/hr

2. Blockchain Architecture: $87.05/hr

3. Robotics: $77.46/hr

4. Ethical Hacking: $66.63/hr

5. Cryptocurrency: $65.37/hr

6. Amazon Web Services, Lambda Coding: $51/hr

7. Virtual Reality: $50.18/hr

8. ReactJS Developers: $40.75/hr

9. Final Cut Pro Editor: $37.12/hr

10. Instagram Marketing: $31.23/hr

Are you doing any of these gigs? If not, which one would you like to try? #shareyourstory #gigspiration,

Are Robots, AI reshaping our lives?

The tech revolution are moving in very fast pace. Who knows it will brings, and when it hits us with a full effect. According to the World economic forum, approximately 800 millions of the labor force might loose their jobs due to automation.

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The gig economy, and new generations entering the labor market has already reshaped the way we want to work, hence the rise of the gig economy. Hopefully the the automation that smart AI-algortithms and and robots will brings, will increase productivity in goods and services, and mots important of all improve our lives.

And of course new job will be created as well, so don’t you worry. But prepare yourself to increase your own learnability, meaning you have to be ready to learn new things to adapt to the future of work.

Have you started to feel the automation in your field of business? How has this affected you and your job? Did force you robots to start gigging? #shareyourstory

PS. A movie for the weekend: “Do you trust this computer“.
Do you trust this computer

Consider a few things before you start gigging

Maybe you’ll already started without consider these tips, and ended up well anyway. Great!

This post is in no way a rule of thumb, more some extra steps/inspiration to consider before pursuing your dream. I truly still want this to be your dream.

My own success loop: trying ➡️failing➡️learning

Don’t be afraid to try out different things, learn from your mistakes, and avoid doing them again. What to consider:

Are you really ready for gigging?

Take a look at yourself in the mirror, and ask yourself “I’m a ready?”. It takes a lot of hard work, your income may fluctuate, and your benefits from your full-time job will vanish. Have you consider this? Do you have a back-up plan?

Is the market ready for you?

Before entering your boss office and hand in your letter of resignation, are you sure you have the right skills to fulfill the market needs? Hopefully for more than just one gig. Do you already have some potential clients? Start doing some research on the demand of your skills, before doing something drastic. Maybe your first gig is a side-gig, which will not effect your day job.

Set up goals

Goals are used to measure for instance your success. How well are you moving towards them? Is there any skills you need to develop to reach your goal etc. Examples could be:

  1. I want a turnover of €100k my first year
  2. I want to expand my network by 5% each month
  3. I want to…

You get it right? Think about what you need to do to fulfill those goals

Build your brand

Your reputation matters for your future success. Therefor, make sure to build your brand smart. Examples on how to build it:

  • Sharing content in your competence area in social media’s/ blogs (remember this is knowledge sharing and not sales pitches)
  • Ask your clients to describe why they hired you (ego boost for your next sales pitch to a similar client)
  • Ask your clients for referrals and if you could use them as references
  • Ask for endorsements on LinkedIn
  • Always act professional
  • Continue to grow your network. My best advice on LinkedIn is to give without expecting anything in return. This will pay off after a while. Have patience.

Price yourself correctly

Maybe your eager landing your first, and is so happy that you tend to price yourself to cheap. Remember, you need to earn enoug to at least cover your fixed costs (rent, food etc).

It’s very hard to get a rice in the price once you set your price level low, your client thinks that this is the reasonable price for this task. Imagine what happens when you start to receive some referrals, and all wants your low price service. Be proud and charge according to your expertise/experience and market conditions. Let your client understand the value you bring to the table.

And of course, don’t forget to pay your taxes!