What is a “gigpreneur”? In simple English, a “gig” is a freelance job. A gigpreneur is a freelancer who makes money doing contracted jobs for other people or businesses. According to Forbes magazine, the gig economy is expanding three times faster than the US workforce as a whole. Several reasons contribute to this growth. Gig workers seem to prefer freelancing over full-time employment due to the flexibility and independence, and ease of finding business from across the globe.
- What makes a gigpreneur a distinct type of solopreneur
- The outstanding benefits to enjoy by being a gigpreneur
- The downsides to contend with in being a gigpreneur
- The challenges of a gigpreneur business to anticipate
- The solutions to success for a gigpreneur business
- Planning your gigpreneur work space for productivity
- Business ideas and opportunity-scoping for gigpreneurs
- Time management tips for multi-project gigpreneurs
- Money management tips for budget-conscious gigpreneurs
- Outsource management tips for overloaded gigpreneurs
- Great books that can help gigpreneur businesses
- Great courses for gigpreneurs on a learning curve
- Great blogs with valuable content for gigpreneurs
- Great Facebook Groups that gigpreneurs can join
- Great tools to increase gigpreneur efficiency
- Great outsourcing platforms for gigpreneurs to sign up
- High-flying gigpreneurs: some terrific examples
- Growing and scaling tips for gigpreneur businesses
VIDEO: Watch Steve Young of AppMasters talk in this video about “The Gig Economy: The Future Is Unlimited Services” (Must watch: 7:16 minutes)
Steve Young explains who gigpreneurs are and how many different services they may offer. He stresses that to be a successful gigpreneur, you have to occupy a small niche and provide complete services to people who need those niche services. “One inch wide and one mile deep” is the philosophy to success here. Watch this video for inspiration.
1. What makes a gigpreneur a distinct type of solopreneur
Like all solopreneurs, gigpreneurs have the freedom and flexibility to work from wherever they choose and whenever they choose. But there are some distinct characteristics of gigpreneurship worth noting:
- Gigpreneurs work for clients, and during the short or long durations of the contract, the client is the boss. Every gigpreneur has to do his client’s bidding. He cannot veer away from the specifications of the assigned job. He gets evaluated by how close his work is to what’s asked of him, with no other inputs from his side to “try and innovate”.
- A gigpreneur can choose to go for jobs with short or extended relationships. Long-duration contracts with clients don’t suit all gigpreneurs. Many gigpreneurs may not have the patience to sustain long-term relationships, especially f the projects are very mundane. They may prefer jobs where they take few orders, execute, collect their money, and move on.
- Despite the competitive environment, “freelancer platforms” are where the business is. Many gigpreneurs do have their websites, but as a trade, gigpreneurship succeeds best when you have your account on an existing “freelance platform” â like Upwork, Freelancer, or Fiverr. Such platforms are where the customers with ready assignments to hand are searching for freelancers – and where freelancers too have the option to choose what they’d like to take up.
- The two most essential elements in a gigpreneur’s resume are the portfolio and the testimonials. The work you’ve done before helps clients first evaluate you. The next thing they look for is past customer reviews and ratings. Without a great and versatile portfolio and high testimonials and ratings, the competition on the freelancer platforms can be brutal to fight off.
- A gigpreneur can be good at many lateral things, so don’t stick to any one narrow part of your talents. The more versatility you showcase in your talent the more chances of your earning higher. If you are a writer, say you’ll do blogs, ebooks, video scripts, emails, whitepapers, social updates, and website copy. Aim for multiple income streams.
2. The outstanding benefits to enjoy by being a gigpreneur
Being a gigpreneur has its upsides and downsides. But the perks of being a gigpreneur are many. Here are just a few of the benefits:
- Your work hours are flexible: No clock or “office hours” can keep you chained to the desk for a fixed duration. Your work time scheduling is your responsibility. While you have the leeway to plan your convenience and productivity times, remember that you have promises of deadlines made that you have to keep. So pace yourself well, and you’ll enjoy the freedom of owning your time.
- You have control over the clients and jobs to take: Before you take on clients and assignments, you have 100% choice. It’s after you’ve accepted a client and his project that you get bound by its conditions. Fully exploit your freedom to choose whom to work with and what to work on. Don’t fear that if you forgo jobs, you won’t get any.
- You can work from wherever you want: Freelancers are the ones always taking selfies of the charming places they work from â a cozy dining table, a corner window sill, a hammock on a beach, a cafe table on the pavement, or a breezy park bench. It’s the romantic joy of a freelancer’s life that he needn’t be bound by where he works from.
- You’re the boss of your work process: While clients may tell you what deliverables they want, the process of how to tackle the work assignment is your choice. You can state to your client your preferred stages of work. If clients were doing the job themselves, they could do it how they want â in whatever order of tasks makes sense to them. But if you are handling the work for them, the least they can allow you is flexibility in your work process.
- You get money security by being on “freelancer platforms”: The beauty of working off a “freelancer platform” is that the platform will support your money security. They will make the client pay an advance amount to you to start the work, and then they will make the client also pay the full balance, which they will keep in their escrow account till you’ve satisfactorily delivered the job. The agreed balance amount will be paid to you by the platform after the client “approves” the job. This money security is terrific to any freelancer and worth paying a small fee â a percentage of the job fee â to the platform for the protection they give in ensuring you get paid.
3. The downsides to contend with in being a gigpreneur
While there are many advantages to gigpreneurship, it helps to know â and be ready for â the downsides to this business model. Gigpreneurs who leap into businesses without thinking about the possible negatives will rue their hastiness. So hereâs what to look out for:
- The work you get may not be steady and reliable: There are likely to be many dry months, just as there may be months when you struggle to cope with the queued-up jobs. Money is never as sure as a salary. Unless you are extremely frugal with your money and stash away substantial savings on days when money comes in, you cannot hope to tide over tough times.
- It can be hard to distinguish between work and personal time: If you take on too little work, you will lose the momentum of working. If you take on too many jobs, your personal life will go for a toss. Itâs a delicate balance that is your responsibility to maintain between your work organization and your work-life balance.
- You need tremendous negotiation skills without which youâll get the most inadequate pay: Unless you are a clever negotiator, you will always get paid less than you deserve. You donât have to be harsh or over-assertive or, worse, aggressive. You have to be intelligent, canny, and savvy. You must know clearly what you will give in to and what you will not give in to.
- Clients are often reluctant to give the final âapprovalâ and may delay: The biggest downside of a freelancerâs life is that clients tend to want to delay when the time comes for the final approval. They almost always feel that closing the job will make it impossible to get a few more alterations done by you. This behavior is part of human nature, so be very wary of âclosure pointsâ.
- You donât get employer benefits as a gigpreneur: Health benefits are expensive for gigpreneurs to bear on their own. Also, starting your own gigpreneur business means you no longer have paid sick days or vacation time guaranteed. Every day you donât work is a day you wonât get paid. Are you prepared for that?
4. The challenges of a gigpreneur business to anticipate
No two days in a gigpreneur’s life will be alike. But you can handle the roller-coaster. It’s essential to know your challenges, anticipate having regular trouble with them, and be forearmed with solutions to success. Plan to climb in business, despite the forces that seem to pull you down:
- Every job will require some research time that most gigpreneurs never plan for: Your talent could be writing, gardening, or voiceovers. But you will not be a subject-matter expert in the client’s business or know the context in which he is assigning the task. Research time is therefore critical before beginning a job. Many gigpreneurs forget to calculate this time into their schedules.
- Estimating time needed for tasks needs only comes with experience: Many newbie gigpreneurs will be poor at assessing the time needs for the various functions of an assignment. So cut yourself some slack and know that you will have strict deadlines of your own making in your early days. With experience, you will learn the critical art of time estimation with enough buffer.
- Understanding a client’s idea of quality is very important and challenging: In any gig, it’s not your idea of perfection, delight, or satisfaction that matters. It’s what your client sees as “perfect”. Get clients to clarify expectations, discuss nuances, or go over options. Ask clients to show you examples of what they think are excellent jobs, so you know where they are coming from.
- Logicality has to precede emotionality in every situation: There’s absolutely no room for ego and emotion in a freelance gig. A gigpreneur’s life has to be entirely impersonal, logical, and rational. You cannot take to heart every rejection of your work or fault-finding by the client. It’s all par for the course. If things become untenable, do the best you can to finish the given work, and then cut your losses and walk away from the client forever. But never leave a job midway.
- Your quality control systems have to be ruthless before any stage of delivery: One thing gigpreneurs must etch into their minds – clients don’t know that evolving work will be sometimes raw looking and need finishing. They expect that every time they see the work-in-progress, that work will be “perfectly finished”. For example, if you show a client about two paragraphs of your article written for him as a sampler of Stage 1 iteration, make sure those two paras are grammar, spelling, and punctuation perfect. If you have to tell a client, “Forget the spellos, for now, just tell me if the tone is okay overall,” he will not be able to do so. The “mistakes” will hit his eye, making him unable to get over them to see the “tone”. Whatever you show the client at any stage has to be quality-controlled.
5. The solutions to success for a gigpreneur business
Taking lessons from some of the most successful gigpreneurs, you can apply some of the ideas given below to your business. Success is more about planning to succeed and taking the actions needed – rather than getting lucky:
- Always keep building your pipeline of clients and projects: Job assignments for freelancers need some marketing legwork. You have to develop clients and projects in your pipeline and see that the queue doesn’t dry up. Allocate regular time every week for expanding your contacts, looking for opportunities, and building up relationships.
- Don’t be shy to ask for testimonials and referrals: When projects end satisfactorily, never be too tentative about asking for good testimonials and referrals. Social proof is essential for a gigpreneur and counts for a lot. The word of a satisfied client is worth its weight in gold. If you’ve done a great job, ask for a referral and some good words with total confidence.
- Fill your portfolio with both work and case studies: Since your portfolio is so crucial to your evaluation as a candidate for a gig, see that you fill it not just with completed work but also with case studies. For instance, if you are a photographer, it would help show your final shots and the many extra shots you took as part of the whole exercise. Also, add a bit of the case history to bring the project and its nuances alive to potential clients. Also, see that your professional handling of the case is showcased.
- Have documents ready that clarify your work process, quality process, and mandate for excellence:
Many clients worry about freelancers’ experience with the business world. They think, “What can this chap do for us if he’s never worked in a business before?”. That’s why it helps to have a couple of business-like documents handy to give the client. You could detail your work process, quality process, a mandate for ethics and professional conduct, and your charter for excellence. This “language of business” will put the client at ease that you haven’t become a gigpreneur after dropping out of high school without knowing the insides of an actual office or company anywhere.
6. Planning your gigpreneur work space for productivity
There is a lot of romance in the thought that gigpreneurs can work off the dining table, and need nothing more than a laptop – but ideally, this doesn’t work at all. Working off the dining table is the worst kind of idea, and there are reasons for this:
- Your gigpreneur workspace needs to be a designated corner of your home so you know it’s your “office”. Your family too must know it’s “where you should not be disturbed”. This is the bare minimum boundary you need to set.
- Designing a separate working corner as a “home office space” puts you in the work mood. Even if the work corner is in a larger room where the family hangs out, you can keep an eye on the goings-on and yet switch to a work frame of mind when you cast your eye back to your working space.
- You need ergonomic comfort when you work, and a writing table and chair are of a different height and design than a dining table and chair. Besides your mobile phones, tablets, and laptops – and other electronic gadgets of all models – need a multi-charging station nearby, which no dining table allows. You need to work without wires hanging askew all over the place.
- You need good lighting that lets you work at your workspace early in the morning or late into the evening without affecting the family’s sleep. You also need enough shelf-and-storage space that is easy to declutter, and can house all your “office” needs and money, separate from the other items in your home.
- A clock and calendar must have a place in your “office”, to keep you on track. If there’s also space for a bit of greenery around you, and a wall plaque that holds your business mission, that would be wonderfully uplifting.
The layout below is a perfect one for a home workspace for gigpreneurs. You can fit the pieces of it into any corner or niche of your home. Make it “your own space to think, write, be creative or do business from”.
7. Business ideas and opportunity-scoping for gigpreneurs
There are some effortless ways for gigpreneurs to discover new business ideas. If you’re on any of the “freelancer platforms,” you’ll find a detailed list of all the areas where customers may like to hire your services. These platforms like Upwork, Freelancer, or Fiverr have done extensive research of their databases, and segregated many types of projects by the tasks they want to get done and the talents needed. That makes it easy for you to see where you can fit as a talent-seller.
Here are some more fine points to note and act on to increase business opportunities:
- If you have many talents, choose any one area as your forte to be the best at, and orient your brand in that direction: Maybe you have many different talents. You still have to emphasize one strong forte clearly, or your brand will sound like “Jack Of All Trades And Master Of None”. For example, maybe you are primarily “a writer”, but you can also do voiceovers, animations, singing, etc. You have to promote writing as your No. #1 area of strength. You can make money off the other talents you have, but be sure to give each of your other skills a separate branding. Avoid diluting the strength of your primary talent. You don’t want people to refer to you as “… that writer who also sings”.
- Identify the most lucrative projects in the area of your forte and notice the clients’ requirements: In your area of deep strength, do a lot of researching on the “freelancer platforms”. See how people ask for project workers, word their requirements, express their needs, price their project budgets, and set their deadlines. Get to know the market intensively and extensively.
- Shape your portfolio, customer testimonials, and brand marketing as the solution for identified requirements: Depending on how the majority of clients in your space make job demands or word their needs, use your insights after research to shape your portfolio, customer testimonials, and your marketing messages. The more you research your audiences and their pain points, the better your grip will be on what will “sell” with your intended target audiences.
- Be quick in replying to projects that come up in your forte area â and do what it takes to bag them: In your area of strength, if you want to grow your business fast, you need to do two things. One, respond with speed when someone posts a job that matches your forte. Secondly, don’t lose an opportunity to bag the order. Negotiate if you must, but bag the order. Rack up the number of jobs you take on so that quality-showcasing opportunities will increase. It may be tempting to take on projects in other talent areas you have, but do that only when there are no jobs to be had in your forte area. You have to build your niche area into an unassailable strength.
8. Time management tips for multi-project gigpreneurs
Gigpreneurs are multi-taskers by instinct. But the successful ones don’t do two things at the same time, which is “simultaneous-tasking”. They slot activities one after another, and they can switch between the two in a blink. I would also recommend three top time management tactics because I know they work like a breeze …
a. Make a schedule and stick to it
This is such essential advice, but yet, people wander away from it. Once you’ve made a schedule, it can be so easy to get distracted. The next time you get an email or phone call asking for your attention amid other scheduled work, spend just a second to see how important it is to your business to attend this email or call. Can’t it be replied to later? It’s called on-the-spot-prioritizing, and it can save you from spending precious time on things that don’t earn you money.
b. Keep similar projects together
Once you’ve got a schedule in mind, try to keep the closely related items together. This is called task-batching. Different parts of your brain activity are involved in various types of tasks. So batching together similar jobs makes it all easier on the brain to focus and get things done. For example, I try to schedule as many SEO tasks as I can together, so I am not writing a bit of content and doing SEO in-between â both in bits and pieces.
c. Work in an environment that helps your time usage
Have you noticed that some people like to work in a silent space, while others like a bit of background noise when they work? Again, some people like having a stopwatch or alarm that goes off every 30 seconds to stop work and take a break. Others prefer to finish a block of work before they get up, never mind what the clock says. If you have such “idiosyncrasies”, respect them, and set up your working time to allow room for what you prefer.
9. Money management tips for budget-conscious gigpreneurs
What are you in business for if you have no money goals? Most gigpreneurs love the idea of making money, but very few can name the sum they are aiming to earn. So for starters, set your business money goals. Having said that, there are three areas of money management that are critical to gigpreneurs, so let’s get to those:
a. Always work out a budget – for your business and your home separately
You cannot afford not to know exactly how much you have coming in and going out each month. You have to get a clear and complete fix on what your business costs are likely to be each month. You don’t need an elaborate money-planner, just an Excel sheet is good enough. Don’t spend what you haven’t planned for, as far as possible. For emergencies, you should have a separate stash of money – which we’ll come to.
b. Keep building your emergency funds – call them savings if you wish
There’s a rule that my grandmother lived with, which she followed all her life. When she died, we were aghast to find she had stashed away hundreds of thousands of dollars from my grandfather’s meager pittance of a salary. What did she do to create so much out of almost nothing? Simple. When my grandfather gave her $200 for the home supplies, she put away 40% into an “emergency fund” (aka her stash), and then lived within the 60%. Can you do that regularly and with every bit of money coming in, without cheating yourself of that 40% put-away rule?
c. Always separate your home finances from your business finances
If you allow business money and home money to intermingle, life will get extremely complicated – especially at tax-filing time. You’ll have to spend days untangling everything you’ve spent or earned, to separate the home and business strands of money all knotted up. And do remember to keep separate bank accounts for your business and personal finances.
10. Outsource management tips for overloaded gigpreneurs
You may wonder why I have included a section here called “outsource for gigpreneurs”. Did you know that many gigpreneurs who are overloaded with work often sub-contract a lot of work to other gigpreneurs? They become the clients who dish out work projects (or parts of work projects) to other gigpreneurs they have screened and “empaneled” as their “go-to” unofficial team. If you too are overloaded with work as a gigpreneur, here are some rules to help you outsource some of your workload:
a. Outsourcing your creative workload
If you find blogging and content marketing projects too consuming, or if your work needs a lot of imaginative sketching or creation of infographics and other forms of specialized drawings, you could look at freelance writers and artists. It’s also a very good idea to have a couple of techies on hand for the times when your site gets stuck and you are all stymied for help.
b. If you find business management heavy, you can outsource that
Most often gigpreneurs like to go for the all-rounder Virtual Assistant who can help with a variety of work projects – rather than to find specialists for one or two areas of work. Those who prefer to create products themselves may find this option very attractive to have a person to hand to manage everything else.
c. Outsourcing tedious or repetitive tasks
Some tasks involved in gigpreneurship are plain boring, mundane or repetitive – for example, research work, blogger outreach, backlinks outreach, proof-reading and editing, or social media posts scheduling. If you have such areas that bore you to death or tire out your mind, by all means outsource them. With clear rules you can get one or two other freelancers trained to do exactly what you want them to do. Once you’ve trained your sub-contract outsource workers though, don’t let them run away from you. Pay them well, and give them enough work, to stay loyal.
11. Great books that can help gigpreneur businesses
The ebooks below (available from Amazon) have scored high on buyer ratings …
12. Great courses for gigpreneurs on a learning curve
The Udemy courses below are eminently affordable and great value for money …
13. Great blogs with valuable content for gigpreneurs
The blogs on infopreneurship that I’ve picked here are great on content, style, differentiation …
a. Double Your Freelancing: Owned by Brennan Dunn, this blog promises to give you”fluff-free”, straightforward advice on how to start or grow a freelancing business.
b. Make A Living Writing: Founded by six-figure freelancer Carol Tice, this blog shows you gen next-level secrets to earning a healthy, recession-proof income as a freelancer online.
c. Freelancers Union: This is the ultimate blog to read regularly as they’re promoting the interests of independent workers through advocacy, education, and services.
14. Great Facebook Groups that gigpreneurs can join
These Facebook Groups on gigpreneurship are ones that I’ve heard of as the best in the business:
a. GuavaBean + Profitable Freelancer Community:This is a group with 19.9K members – a professional and positive place for freelancers to connect and share support around our shared mission.
b. Digital Nomad Jobs: This group is a place solely dedicated to legitimate remote jobs, where job opportunities are vetted and hand-picked by the digital nomad community.
c. Remote Jobs Anywhere – Inventive Hub:The purpose of this group is to give all a daily place to check in with their colleagues, participate in group discussion, ask questions, seek positive support, share real work opportunities and connect with companies offering remote jobs.
15. Great tools to increase gigpreneur efficiency
Scheduling meetings with clients, managing clients and managing projects are the three client-facing areas of gigpreneurs that could the best tools. Here are my picks:
a. Calendly: Prospects, clients, and collaborators can then choose a time youâre free that works for them, too â in a single touch.
b. Streak: Streak, for Gmail, is a free Chrome extension that helps you manage projects, leads and partners from your inbox.
c. Trello: Itâs the perfect project management software to use to keep clients aware of project progress.
16. Great outsourcing platforms for gigpreneurs to sign up
I’ve graded three of the best workload outsourcing platforms in order of earning potential and work quality freelancers can get. Remember, most f these platforms not only help our get gigs for good money, they also train you to be a smarter freelancer.
a. Upwork: Browse jobs posted on Upwork, or jump right in and create a free profile to find the work that you love to do.
b. Freelancer: Lift your profile to the next level by becoming Verified by Freelancer. Get the blue badge.
c. Fiverr: You bring the skill. They’ll make earning easy. On Fiverr, freelancers earn anywhere between $5 – $10,000.
17. High-flying gigpreneurs: some terrific examples
There are hundreds upon thousands of gigpreneurs inching so close to the 6-figure revenue mark in their businesses. The gigpreneurs I have picked here as my best examples have all grown business from very simple ideas. Hear their stories:
a. JOEL YOUNG: The Pastor Who Rose From Deep Debt To Earn Millions From Voiceovers
Joel Young was a pastor who was deeply in debt and not really making it rich, despite many tries in many different towns and cities. One day he changed to hire a voiceover artist from Fiverr for a church function when the idea hit him. Why not sell voiceovers? He had a good voice, but no formal speaking training. But that didn’t stop him for the money was badly needed. After just 18 months of offering freelance voiceover services on Fiverr, Joel has made more than $1.5 million in income as a gigpreneur. He then looked at the market demand and also started animation video creation services.
One thing Joel Young emphasizes to all newbie gigpreneurs is to not underrate the talents they have. You’ll never know your true worth unless you’ve put yourself on the market and found buyers. He also says that if you’re in the game you’ll notice new opportunities in new areas where you can learn and earn. Listen to him here:
âIn the early days, when my work was not as great, I was serving a different client base, I was adding value to them because my prices were so much cheaper. I was adding value to them at the level I could. Now, Iâm adding different value at a different level. But the reality is, if I hadnât started at the first step, I wouldnât have gotten to the step Iâm on today.
Donât think you have to get to the ideal level before you start. Because thatâs how people end up sedentary, wasting their whole life doing something they hate, because they never started when they never tried.
Finally, keep your eyes open to trends and whatâs happening in your marketplace, and listen to what your customers wantâ
What do you think is the secret sauce Joel has used to convert his business idea into millions? Joel now believes that most people don’t even recognize they may have talents that others could buy from them. They put themselves down or ignore what they think they have as average or even mediocre. But the secret is that unless you try earning from talent, you’d hardly have an incentive to try and improve it. And once you start marketing yourself, and are willing to learn new tricks, there’s no limit to how much you can earn.
b. ALEX FASULO: She went from a humdrum PR job to a healthy $387,000 a year
Alex Fasulo hated her 9-5 public relations joban quit. She’d hardly used her Fiverr account she had opened ages ago on a whim. But now its value seemed urgently in need of use. She listed nine services she could offer including writing. The next morning she opened her computer to find a queue of orders and she’s never looked back. Alex first raked in $33,000 for $5 gigs and raised her rates to $15. That increased her income to $81,000. Now she’s in the 6-figure territory, making $151,000.
Typically, like any 28 year old with a lot of money, she is in a bind on how she’s going to use all the money she makes. Read this … and you’ll see the meaning of true success as a gigpreneur:
“The newfound financial success still feels so new to me. I donât even know what to do with the money. That sounds really silly, but I call up my mom and Iâm like, âWhat should I do with this money?â A lot of it is sitting in my bank account, Iâm definitely a saver, so I donât blow it or anything like that.
My new income has enabled me to move into my âdream apartmentâ in Brooklyn Heights. Looking at the sun streaming through the floor-to-ceiling windows, I canât help but smile.
When I first moved to New York City, I lived in really crummy apartments because I had no money. So to finally be living in this nice apartment blows my mind when I wake up every day, like, âOh my gosh, I have an elevator and I can see the sun.”
What do you think is the secret sauce that makes Alex run such a successful online venture? Alex seems like a very organized and balanced gigpreneur who knows her priorities. She typically works Monday to Friday (about 9 hours per day). She tends to take on larger projects, with each gig priced at $100. Sheâs a quick writer and tackles about six or seven orders per day. She know her profits are maximum from website content creation and working with big-name brands, so she focuses on such clients.
c. MICHELLE JACKSON: She Her Eggs In Many Baskets To Get 9 Different Income Streams
Michelle Jackson was fed up with her student services job when she got attracted to making money online. Instead of waiting like many others to find the one “perfect” idea, she decided to use her writing skills to create 9 different income streams from it … because she hates putting all her eggs in one basket. Her earnings come from affiliate income, writing gigs, creating her own ebook and course, her podcast and many other forms of expression. She now earns $7000- $9000 per month per income stream. She calls her website “Michelle Is Money Hungry”.
Gill Mailinsky, who has written about Michelle Jackson on the CNBC.comsite says this of her:
“Jackson also makes money from entrepreneurship coaching, creating sponsored content, working on creative partnerships with brands, and doing speaking engagements.
Now that sheâs built up diversified sources of income, she says, she feels more financially resilient than ever. She doesnât have to worry about a layoff or a significant income drop, even when she was having a tough time during the pandemic.
Jackson cautions that anyone hoping to diversify their income streams may not make money right away. âWhen I began diversifying my income, my income dropped initially,â she says. But because losing one or even two income streams at a time no longer makes a huge dent, 2020 was not an issue at all.â
What do you think is the secret sauce that helped Michelle turn her passion into a richly-rewarding infopreneur business? While everybody these days wants to start an online business, many take a long time to decide what they want to do. Michelle seems to be a mentally clear person. She decided not to waste time thinking but to try her hand at various things she could do with the talent she had. This is indeed a novel way to approach a business. If Plan A fails, there’s always a back up, and another back up, and another one. Michelle can ride any wave of setbacks with aplomb because she has defrayed her risks across many income streams.
18. Growing and scaling tips for gigpreneur businesses
Most gigpreneur businesses follow one of four business models for scaling and growth. One, they may gradually increase their talent-application variety and range and venture into offering project assistance in new formats. Two, they may increase their clients by offering new talents for newer segments. Three, they may increase market visibility and exposure by marketing themselves in new ways and on new platforms to expand reach. Four, they may increase their fees per project to earn more for the same effort.
Whatever your chosen growth model, there are three tenets to keep in mind:
- If some clients are good, and they have a lot of work to offer over the long run, build relationships: Occasionally, you may come across clients who are golden finds. They may have a series of ongoing projects to give, and their working methods and the respect and rewards they give you may satisfy you. In such cases, try to build relationships with these clients and work out bulk deals. It is said in marketing that it costs six times more in the effort, time, and money to get new clients, whereas retaining old clients and getting repeat purchases saves you this cost.
- Most freelancing platforms upgrade you to a higher fee potential when you have performed consistently well: If you are on one of the freelancing platforms, youâll find they have an auto-upgrade system to reward gigpreneurs who perform exceedingly well. When past client ratings and reviews are consistently high, you become eligible to be called a âProâ talent. The platform will usually show you high-value projects they wonât reveal to unproven freelancers. Raising your grade fast should be one of your aims because you get many perks and better clients and projects with it.
- Aim for a âclient-get-clientâ strategy or a âgigpreneur-get-clientâ strategy: There are two sources you can tap to reduce your marketing effort in catching new clients. One is the âclient-get-clientâ referral method. Ask your past satisfied clients to recommend others. The second way is to get other gigpreneurs (maybe your most prominent competitors) to sub-contract part of their workload to you. This way, again, you have no marketing effort to put in if you have steady relationships with other more busy gigpreneurs who do the client-acquisition legwork. In such cases, you convert âcompetitionâ into âco-petitionâ.
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