Largely due to the Great Recession of 2008 and the role of the internet, the gig economy has been steadily expanding over recent years. More people are taking a shot at doing various types of short-term, temporary, or freelance work, as well as starting businesses from their home. While working in the gig economy comes with many advantages, it also takes a lot of hard work and persistence. If you want to start your own gig-based business, writer Lucy Reed provides some tips that will help you be successful.
Spend small at the beginning
When you’re passionate about an idea and eager to get your business going, it’s easy to want to throw all kinds of money into it. However, it’s usually best not to spend a lot in the beginning. Plus, if your endeavor requires a hefty investment up front, it could be an indicator that the endeavor is too risky. Try to build a following through word of mouth, social media, blogs, newsletters, and other self-marketing tactics. You may need to spend some money to get your ideas off the ground, but use caution and know that it will ultimately make it easier for your business to thrive if you spend less money in the early stages.
Learn to manage your energy
While managing your time is important, managing your energy may be more important. If you’re starting your business as a side gig, you’ll want to do the bulk of your work during your most productive hours of the day. For some, that means waking up earlier; for others, it means working at night. Look for ways to fit some work into your lunch hour and other moments of the day. If you’re aiming to grow your side gig into a full-time deal, don’t rush it. Keeping the security of a traditional job can help you build your business until it’s ready to become your primary income.
Run with your uniqueness
Most people who start their own business have a unique vision of what they want to build—something that wouldn’t fit in with the operation of other companies. Most successful entrepreneurs and trailblazing business minds start with bold ideas that may sound crazy or undoable to conventional thinkers. If you have ideas that have been born out of your own experience, build your strategy around them and run with them. You may have to make some practical tweaks here and there, but allowing your passion and creativity to fuel you will help carry you to success.
Create an adequate workspace
Another important part of beginning your gig business is creating a workspace at home that encourages productivity, enhances creativity, and meets your individual lifestyle. Making your own workspace can be thoroughly rewarding in and of itself, and there are several ways to make it functional and personal. You want a comfortable chair and desk that allow your elbows to be bent at 90 degrees. Make sure the temperature is comfortable and that you have access to either windows or vitamin D lighting. Also, don’t forget to keep your space organized and to put your personal touch on the design elements.
Set goals, and follow through
Working from home comes with many conveniences. However, you want to make sure you don’t get so comfortable that you don’t get any work done. Being your own boss means making your own schedule, setting your own goals, and putting yourself in a position to accomplish them. You want to set realistic long-term, short-term, and daily goals, as well as learn how to deal with distractions. Without the daily demands of a boss, setting goals for yourself is essential for keeping you motivated and providing a timeline for completing tasks.
While there’s a lot that goes in to starting your own gig-based business, it can be thoroughly rewarding. To give yourself the best chance at success, remember to spend small at the start, manage your energy, run with your unique ideas, create an adequate workspace, and set good goals. If approached the right way, a business in the gig economy could be the path to fulfilling your dreams.