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Due to various technological developments, it is now easier than ever to earn money online. Known as the gig economy, there is a massive free-market system for independent workers looking to earn an extra buck. Monetizing one’s expertise can remain a challenge, however.
What is the Gig Economy?
For those unfamiliar with the gig economy concept, a short explanation is in order. This “business model” revolves around temporary and flexible jobs. Freelancers are offering their services at competitive rates to any company in the world looking for a specific, and temporary need. Through this approach, companies will be able to hire independent contractors, rather than focusing solely on full-time employees.
At its core, the gig economy works for everyone involved. Workers, businesses, and consumers will benefit from the more flexible nature of work. Any type of job can be modeled to suit a specific need at a specific time. It also highlights the appeal of flexible lifestyles, where workers can set their working hours, and companies have a large pool of talented individuals to choose from.
As more people try to offer their expertise to potential clients, competition emerges in this free-market model. In the end, services will become cheaper, but also more efficient. Competing in the price department can sometimes be difficult, as there is always someone willing to work cheaper than you do.
Don’t Ignore the Critics
As appealing as the gig economy may sound on paper, there are also potential drawbacks. Existing full-time employees may find it more difficult to develop in their career. Temporary workforces are often cheaper and more flexible, which can hinder growth of those with extensive commitments.
Moreover, some people tend to “over commit” to the flexible nature of the gig economy. It would not be the first time a gig economy worker notices a severe impact on their mental and physical health. Flexibility is good, but one needs to impose personal limits as well. Hopping from one gig to the next is a great way to annihilate one’s work-life balance.
There is also a severe lack of job security when participating in the gig economy. Finding a short-term job is the easy part, but generating a stable income is something else entirely. There is no guarantee of regular pay, benefits, insurance, or anything like that. It can be a drawback to some, but others see this as a great way to approach the overall job sector.
Monetizing One’s Expertise
For those willing to take the plunge, there are many different ways to explore the gig economy. Creating a profile on all of the popular freelancer platforms should be the first order of business. Both workers and companies frequent these platforms to get jobs completed quickly and efficiently as possible.
A wide variety of jobs can be done without much effort. Those include working for on-demand delivery services, ride-sharing, cleaning, and walking people’s dogs, for example. All of these jobs are easy, can be done by anyone, and tend to pay a decent sum of money.
Exploring the online space cannot be overlooked either. Content creators may want to explore options such as the Brave browser, Coil, and decentralized content creation platforms such as LBRY. Those are just a few examples of the power of blockchain and cryptocurrency in the gig economy.
Creating a revenue stream on the web has never been easier. Anyone with a passion can make this approach work, either as a full-time job or as a secondary income after work hours. Demand for web content in any format will only keep increasing.
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