The World of Work is changing

Yes, the world of work is truly changing, and in an accelerating 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.

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!

Work in the 4IR

This weekend I found a very interesting Podcast from the World economic forum, discussing (amongst many) how it is to work in the 4IR.

It’s totally worth 30 min of your time to trying to understand what’s going on in the global labor market.

Summarizing the “Work in the 4IR”-episode:

  • Bots/Robots will not take all of our jobs
  • Everyone can’t be a Data Scientist
  • Gig economy is on it’s rise
  • Reskilling is necessary to keep up with the demand (take a look at Belgium!)

If I can’t get a job, I’ll create one on my own

Re-skill your skills

 

Today, in the 21st century, we’re seeing the rise of new work models such as freelancing and remote work. In the most advanced companies, teams are learning to be more agile, to work with distributed and remote teams, and to scale up and down to adapt to ever-changing conditions. This is the future of work.

Source

The quote/article above made me really think about how important my current skills are in the future, will I be replaced by a sales bot? Or can I do soemthing on my own to stay relevant? It’s not that I feel threathend now, but given the technology development it woun’t take that much time before I am.

Therfore I decided to develop my own skills, based on my own interests mainly (and not only due to market conditions). For me it’s important to do something I believe in, and have a genuine interest within (sales, marketing, and programming).

My main tools for re-skilling are:

  • Books – Both physical and audio
    • Sales
    • Marketing
    • Programming – Python
  • Udemy My favorite at the moment (video courses)
    • Content marketing courses
    • Social media strategies
    • Learing how to hack/penetrations tests (my favorite so far)
    • Programming

Who knows, this development may lead to my first side-gig. Remember to enjoy your learning journey, and do what you enjoy!

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What’s your advice on re-skilling?