Within the last week, most major U.S. companies, restaurants, bars and other small businesses closed their doors (at least temporarily) with the onset and spread of the coronavirus (COVID-19). What this means for the U.S. economy as a whole is unnerving and uncertain, but one thing that seems certain: the growth of direct sellers in the already strong gig economy may soon be on the rise.
KEY POINTS OF THE GIG ECONOMY
- The gig economy is now composed of 60 million workers, and it is now an ever-bigger slice of the American workforce.
- By 2027, the majority of workers in the U.S. will be contract workers.1
No matter what they’re called—freelancers, independent contractors, business owners, or flex workers—the people who make up the gig economy now total nearly 60 million, and they are becoming an ever-bigger slice of the American workforce.
The rise is owed to these four main trends: blockchain systems, F500 utilizing more contract employees, an uptick in fully remote companies and more robust networking among freelancers.
In fact, a recent survey commissioned by online freelancing platform Upwork and Freelancers Union shows that the freelance workforce is growing three times faster than the overall U.S. workforce and that the majority of people will be working independently by 2027.
This change has major implications for how the American workforce will look in the years ahead, the role corporations will play in this new landscape, and the technologies that are helping to drive the marketplace shift.
So, for those gig workers who are a part of the direct selling market, what impact will the recent COVID-19 have on their business? Although daily life changing for all of us right now, direct sellers have a distinct advantage to keep their businesses going strong.
The good news for gig workers, says Trinia Hoefling, author of “Working Virtually: Transforming the Mobile Workplace” (2nd edition). Is that they are no longer are they constrained by their location—they can access opportunities that fit their skills and interests anywhere in the world.
Pros of Working in the Gig Economy
The gig economy offers an abundance of opportunities to earn extra cash or a full-time living. It can open the door to your creativity or provide a way to achieve your financial goals. Here are some other pros of working in the gig economy.
Working in the gig economy provides freedom and flexibility that other income opportunities may not. Those who choose to pursue gig economy employment and make a career out of freelancing have the luxury to determine their own hours, work location, clients and sometimes even rates. They’re able to shape their entire professional career around their personal preferences which enables them to pursue some of the aspects of their lives that may not provide fiscal reward. From mothers who want more time with their children to individuals who want to travel the world and maintain enough income to foot the bill, freelancing enables many professionals to pursue their passions and accommodate their preferred lifestyle.
Working in the gig economy allows you to become your own boss and live by your own rules. With the advancements to technology, you can connect to clients around your city or even the world. No longer do you have to punch in and out. With this type of employment, you can simply complete a task on your own time or log into an app to market your skills to clients. You’re in complete control of your time clock and the tasks you wish to complete.
Harry Campbell, founder of The Rideshare Guy and author of The Rideshare Guide , says, “The flexibility is by far the best part about working in the gig economy since you can literally work as much or as little as you want. I’ve worked all sorts of jobs over the years but it wasn’t until I started driving with Uber and Lyft that I realized just how flexible the gig can be.”
Alternative Career Choice
When Washington D.C resident Charlie Heck lost her government job, she turned to the gig economy for supplemental income. Instead of heading back to work, she started pet sitting and walking dogs for high-end clients in Washington D.C. during her downtime. She established clients for her multimedia freelancing gig, which lead to a full-blown small business. She adds, “It was quite a balancing act in the beginning but through the trust I established with my pet clients, a few eventually became multimedia clients and connections as well.”
Like Heck, many professionals are choosing to transform their part-time gigs into full-time sources of income. According to MBO Partners State of Independence In America 2018, 3.3 million independent workers made over six figures. Depending on your skill set and the side gig you choose to pursue, working independently can offer significant monetary rewards.
Variety of Work
Working in the gig economy gives professionals the opportunity to work on a broad spectrum of projects and clientele. Instead of working with one boss on a regular basis, your projects require you to juggle multiple clients and deadlines and often encourage your creativity. This gives gig workers the ability to enhance their skills and continue to stay current with the industry they work in.
If you enjoy tasks and projects that’ll challenge your creativity and problem-solving skills, the gig economy may be the best place to exercise your talents.
Working in the gig economy also gives you the ability to build your portfolio and resume. It allows you to connect with people you may not have otherwise connected with in your professional community. It opens the door to endless possibilities you may not have been aware were available.
The PURE Difference
Now may be the time to turn your focus toward a life with an enriching side hustle. Working in the gig economy can be a great way to earn some extra cash or even create the career of your dreams.
At PURE, we believe in you, and in a concept called Whole Health. Our passion is helping people achieve Whole Health so that every man, woman and child can enjoy a lifetime of head-to-toe health and happiness. Find out how you can deliver Whole Health to others through nutrient–rich products while earning income and other rewards. It’s all up to you—visit livepure.comto join us today!