That Gig Economy Life: 5 Tips To Survive & Thrive As Your Own Boss
When I left an awesome full-time job to become a consultant, I felt both terrified and exuberant. I wanted a change in my life that would not only challenge me mentally and spiritually, but would afford me a life where I could call the shots and be in total control of how I spent my time. I also wanted to travel more and really live. I'd dedicated the first 10 years of my career to mostly work, and had never even really had an adult vacation or visited the places I'd written down in my journal as a child.
I took a leap of faith, built a steady roster of clients, faced failures, and accomplished major wins. I made and lost money. I traveled the world—some trips with clients, others solo.
Then reality hit. During slow months, I found myself among other professionals participating in what experts call the "gig economy", taking on work I never thought I'd even be open to doing. (Hey, when you have a dream but still have bills to pay, you gotta do what you gotta do, right?)
Whether it's about gaining financial freedom, having independence, reaching a savings goal, or getting out of a money jam, jumping into the gig economy—that 1099 life as I like to call it—can be a liberating way to become the boss you always wanted to be. The gig economy involves freelance work or side jobs you can do for quick cash, such as website design from a successful Upwork contract, a short-term blog writing gig from a Craigslist post, or Uber or Lyft driving during a holiday or game season. There are so many companies and opportunities to choose from if you're open-minded, willing to do the legwork, and are a bonafide self-starter.
Here's the real deal on surviving and thriving in the gig economy:
Know yourself and your limits:
GiphyI once signed up with a popular food delivery company, and it was actually an exciting and eye-opening experience. As an introvert, I knew I just wasn't comfortable driving strangers around. Transporting take-out was a better option because it was safer and involved less interpersonal encounters. I got to travel to different areas and places, learn about restaurant culture and customer service, and enjoy the convenience of weekly checks directly deposited into my account. Cons?
I spent lots of time waiting in my car for a delivery alert; the market was saturated in the area I worked, so I often only got delivers during unsavory hours or in areas that are not quite popular. (Oh, and there was that one time that involved a gravel-filled country road, several pitbulls, and a huge heavy box full of chicken and fixings that led me to take a few weeks off and reconsider ever delivering again.) Be sure you're taking on gigs that are a fit for your personality and skills.
Consider the return on investment:
Your skills and time are valuable. Be sure that whatever gig you're taking on is actually worth it in terms of time and value of the service you're offering. If you're designing a website, for example, calculate the cost per hour based on your experience and how much time it will take to complete. How does the project or gig enrich your life experience, career, portfolio, or resume? Do you feel safe, productive, and fulfilled? Will you earn enough funds to reach your goal or adequately pay your bills? Take these factors seriously, and consider them before pursuing or continuing to pursue a gig.
Closely consider and take care of your finances—especially taxes:
If you're in an industry that requires receipts for tax breaks, keep those receipts. Utilize apps where you can record, organize, and monitor things like receipts, time, mileage, food and other expenses related to the gig. Also, get tax help from a free resource offered by the base city where you work or hire a tax accountant or preparer. You'll need to be well-informed on properly filing taxes and managing your finances as a gig worker, otherwise it's just not worth the trouble.
Become super-OK with having to pivot and change activities and mindsets, sometimes at a moment’s notice:
At one point, I was doing deliveries, taking on editing gigs, and doing short-term consulting projects all at the same time. I was literally wearing three different hats, and I had to be able to shift in a way that was professional, fluid, and flexible. The gig economy can be very fast-paced and competitive, so having the ability to quickly transition into a different career mode or activity was key.
Keep balance at the forefront:
GiphyThriving in the gig economy involves lots of hustling and mental tenacity. Be sure that you are incorporating self-care in your schedule and that you are avoiding burnout by not taking on more gigs than you can handle. I had to deliberately schedule morning meditation and workouts at least three times a week simply to protect my sanity. I also needed to be in top mental and physical shape to do well at multitasking the gigs I'd get per month. It's awesome getting checks from more than one source but you have to maintain integrity, do quality work, and still take care of yourself.
Being your own boss and having multiple sources of income can be rewarding. Just know exactly what you're getting into and how it will benefit you in the long run. If you can focus, know your why, and get a great return on investment, the gig economy might be the ideal place for you!
Being your own boss and having multiple sources of income can be rewarding. Just know exactly what you're getting into and how it will benefit you in the long run. If you can focus, know your why, and get a great return on investment, the gig economy might be the ideal place for you!
Featured image by Shutterstock
Want more stories like this? Sign up for our newsletter here and check out the related reads below:
How 3 Career Women Manage Their Successful Side Hustles
The Art Of Side Hustling: 10 Part-Time Paychecks That Aren't Uber
I Spent An Hour On My Side Hustle Every Day For A Month
Angela Yee Shares How To Master The Art Of Side Hustling
- How to Succeed in the Gig Economy - ProjectManager.com ›
- How to survive—and succeed—in the gig economy ›
- Gig Economy: Pros and Cons of Gig Work - ZING Blog by Quicken ... ›
- Working in the Gig Economy ›
- How To Succeed As A Millennial In The Gig Economy ›
- These 4 Skills Are Essential To Succeeding In The Gig Economy ›
- Introducing: Working in The Gig Economy: How to Thrive And ... ›
- Succeeding in the Gig Economy | SCORE ›
- The 4 Things You Need to Thrive in the Gig Economy ›
- Working in the Gig Economy: How to Thrive and Succeed When You ... ›
ItGirl 100 Honors Black Women Who Create Culture & Put On For Their Cities
As they say, create the change you want to see in this world, besties. That’s why xoNecole linked up with Hyundai for the inaugural ItGirl 100 List, a celebration of 100 Genzennial women who aren’t afraid to pull up their own seats to the table. Across regions and industries, these women embody the essence of discovering self-value through purpose, honey! They're fierce, they’re ultra-creative, and we know they make their cities proud.
VIEW THE FULL ITGIRL 100 LIST HERE.
Don’t forget to also check out the ItGirl Directory, featuring 50 Black-woman-owned marketing and branding agencies, photographers and videographers, publicists, and more.
THE ITGIRL MEMO
I. An ItGirl puts on for her city and masters her self-worth through purpose.
II. An ItGirl celebrates all the things that make her unique.
III. An ItGirl empowers others to become the best versions of themselves.
IV. An ItGirl leads by example, inspiring others through her actions and integrity.
V. An ItGirl paves the way for authenticity and diversity in all aspects of life.
VI. An ItGirl uses the power of her voice to advocate for positive change in the world.
Let’s make things inbox official! Sign up for the xoNecole newsletter for daily love, wellness, career, and exclusive content delivered straight to your inbox.
Tyler James Williams Explains Why His And Quinta Brunson 'Abbott Elementary' Characters Should Remain Friends
While Abbott Elementary fans are hoping that Janine and Gregory end up together, the show’s star has another take. Tyler James Williams plays Gregory on the Emmy award-winning sitcom, and he recently stopped by The Jennifer Hudson Show to share his point of view on his storyline with Janine, which Quinta Brunson plays.
“I hate to say it. I know that everybody’s always mad at me for this. I don’t necessarily want to see them together,” he revealed. “It’s partially an actor’s choice, but also somebody who, like, I read a lot of scripts all the time. I watch a lot of TV, a lot of film. I don’t think that we see displays of platonic love between two people often. I think it’s really easy to go right to they have feelings for each other, therefore they should be together. I like this dynamic of exploring withholding that and just actively loving each other where they are. That I like to see more.”
If you recall, they were co-workers who became friends but were secretly crushing on each other. They’ve had many awkward run-ins during and after school, like the unforgettable club scene where they were dancing nervously with each other in season one, and in season two, they finally kiss. However, it only made things even more awkward, and they decided to just be friends. Tyler further explained why he thinks it’s important to showcase that type of relationship on screen.
“I think it’s time for that. I think TV allows people to see things that could be their lives for the first time, and I think seeing a healthy friendship that is deeply caring about one another in a work atmosphere needs to be shown more than the relationship,” he concluded.
Abbott Elementary comes on every Wednesday at 9 p.m. EST on ABC.
Let’s make things inbox official! Sign up for the xoNecole newsletter for daily love, wellness, career, and exclusive content delivered straight to your inbox.
Feature image by Kevin Mazur/Getty Images