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3 Essentials for Joining the Gig Economy Despite the Pandemic

 In the latter part of 2020, about 6 months into the pandemic, I shared via YouTube some insights into making changes in your life and kick off some new ventures in the remainder of 2020. It was befitting for Coffee & Chat with Rev Bruce because the overall theme of the livestream is to inspire people with information and interviews that help dreamers become doers.

Today I cover 3 essentials for joining the gig economy despite the pandemic. Why do I say "despite the pandemic?" In ties like these, people operate differently. They see things differently and they respond to things differently. 

For many people, the common factor boils down to fear. So, as I talk about taking a leap or pushing forward with a launch, fear has no place in the equation. Push fear aside. Allow yourself to think and act boldly rather than to sit back and cringe in a corner based upon fear.

3 Essentials for Joining the Gig Economy

Here it is:

• Competency
• Capacity
• Confidence

That's what you need. Those are essentials for joining the gig economy. Those are necessities for developing and doing your side hustle with success and for sustainability.

Competency

Competency has various meanings and definitions based upon what we are talking about at any particular time. Don't get caught up in semantics. Consider competency in the context of your side hustle. In this case, competency is your skills, know-how, and hands-on knowledge. 

In a gig economy, the greater amount of competency that you are able to develop and distribute within that economy means that you have a higher degree of leverage. If your competency includes highly specialized skills that are in demand and few people can actually do on their own, then you have high value competency that can allow you to charge a premium in fees for your services.

During this pandemic, whether you have lost your job or you simply want to supplement your income, you need to increase your levels of competency to create more opportunities for you within the gig economy. Driving for a rideshare service like Uber or Lyft or delivering food for Postmates or DoorDash do not require a high degree of competency. But teaching others how to invest in real estate, flip houses, and employ the BRRR method will require you to have some experience or track record with real estate and some proven methods or strategies for implementing and capitalizing on real estate investments. 

To increase your competency, you should consider:

• e-courses or email courses
• webinars/ virtual trainings
• niche coaching
• college degree programs
• certificate programs/ licensing

Additionally, increase your competency by spending additional time reading books on both personal development and business or entrepreneurship as well as watching YouTube or Vimeo videos that offer how-to and tutorial information in bite-sized proportions.

By increasing your level of competency, you naturally increase your potential opportunities within the gig economy and provide yourself with the possibility of side hustle success and sustainability.

Capacity

Capacity is defined as how much you are able to handle. In essence, your capacity comes in different forms. In many cases, you find people arguing that they do not have enough time or money. 

Many people see themselves "at capacity," and that just is not true. Too many people limit themselves based upon both assumptions and excuses that do not merit attention. Capacity can be expanded based upon the maximum utilization of what you already have under your control.

For many people, capacity seems finite. However, I dare you to follow me in the example of a daily time audit. There are 24 hours in a day. You currently work 8 hours or one-third of the day. You sleep another 6 to 8 hours per day. at maximum, that is 16 of your 24 hours. Let's say your exercise about an hour per day and your meals amount to 2 hours per day. That is another 3 hours. By simple calculation, you should at least have 5 additional hours to your day. Now, armed with this information from your daily time audit, you can begin to strategically and systematically identify how you will utilize those additional hours for your side hustle.

To increase your own level of capacity, you need to consider incorporating and implementing:

• daily time audit
• daily time allocation budget
• time and stress management apps
• daily journaling or diary writing
• morning meditation
• weekly self check-ins
• monthly money budget
• money bucket system
• monthly money envelope system

Start taking a different type of approach towards the very things that others say are limited. Broaden your own scope in regards to the possibilities of increasing your own capacity. By increasing your capacity, your increase your ability to handle opportunities presented for you within the gig economy. With increased capacity, you can withstand the highs and lows of the pandemic and still experience side hustle success.

Confidence

Here is a simple warning about confidence. You can build your own self confidence without the kudos or accolades of others, but you need to be sure to not let anything get to you. Romans 12:3 warns us to not think too highly of ourselves. It does not say for us to not have self confidence, so we need to be sure to keep a level head about us and keep our feet on the ground as we move forward with our side hustle in this gig economy.

Confidence is believing in yourself, your skills, your talents, and your abilities. You need self confidence to network and promote, even market and brand yourself, within this side gig economy. Nobody is going to toot your horn for you and nobody should be a bigger cheerleader for you than you. You need to make the most noise about what you have to offer than anyone else. 

I know one of my holy and saintly friends will pop up and clap back with the words from Proverbs that say for us to let another man praise us and not ourselves. Marketing and promotion is not self praise. They're part of a formula of building brand awareness that any business needs to undertake. If you do not share what you have to offer, how will someone know that you have the talent, skills or know-how to do a job for them or someone else who they know?

Combine These 3 Essentials for Success and Sustainability

Your increased levels of competency and capacity will help to feed your self confidence. This will fuel you to withstand the storms of the pandemic and its aftermath. You can still develop and launch a side hustle in the midst of all of this mess. your confidence will carry you through the closed doors in your face and emails and DMs without any reply. Allow your self confidence to give you the drive to share your skills and know-how.

By combining your competency, capacity, and confidence, you will see new opportunities and even older opportunities in a new light. You will have armed yourself with assets that make you more than marketable. Your resume and portfolio of skills and know-how will stand out as your polished confidence speaks volumes with every presentation and meeting.

This gig economy is growing. If you are not doing the essentials to take the leap and jump in, then you are limited yourself and your opportunities. In fact, you might be setting yourself up to do one of two things. You might be setting yourself to hire someone else who is engaged in the gig economy with skills and know-how that you need in the form of services and products. Or, you might just be setting yourself up to work for one of the people who is in the gig economy and has expanded and enhanced their services to the point where they need additional hired help.

Tune in for more on this topic. . .