Business Magazine

Entrepreneurs Can Capitalize On The New Gig Economy

Posted on the 20 May 2018 by Martin Zwilling @StartupPro

gig-economy-entrepreneurThe era of stable lifetime jobs for business professionals within a single company are gone. Companies are rightsized quickly now as markets change rapidly, and business professionals are quick to jump to new opportunities for growth and survival, with no ties to special benefits or pension plans. Thus smart business professionals are rapidly becoming the new entrepreneurs.

As a mentor to startups, I see more startups that are really an individual professional, marketing themselves as a consultant or freelancer in this new gig economy. This is a positive in uncoupling them from a dependency on a single company or boss, but the downside is that they have to suddenly manage all facets of a business, including finances, strategy, and savings for the future.

Of course, entrepreneurs delivering services have existed for some time, including business consultant, independent contractor, and freelancer titles. But these titles are not descriptive of specific roles or skills, and have always had marginal credibility in the business community. I suggest that new entrepreneurs lead with their “professional” title, which suggests their focus and specialized skill, and can be applied to almost any role. Here are some examples:

  • Marketing Professional. Every company and startups needs marketing experts, who are skilled and knowledgeable in the development of marketing programs, content creation, lead generation, and the utilization of social media. This world changes rapidly, and needs a professional with experience in digital and conventional media to keep up.
  • Software Development Professional. Even big companies I know find it hard to keep their in-house programmers up to speed on the latest technologies, including mobile devices, the latest Web technologies, and multi-tenant applications in the Cloud. More and more are scouring LinkedIn for specialists willing to do short-term relationships.
  • Staffing Professional. Staffing requirements come and go in every company, big or small. One of the harsh realities for most product entrepreneurs is that they have deal with hiring and firing as their company grows, and they have no experience or idea where to start. For existing trained professionals, it’s an opportunity to become an entrepreneur.
  • Administrative Professional. Long ago, these were called secretaries, often starting in the typing pool, with the best aligning themselves with an advancing executive, leading to a long career. Now the new breed of these is a self-managed entrepreneur, working remotely, with real expertise on the administrative tools and ways of business today.
  • Sales Professional. The best sales people in any company are highly focused, and self-motivated by the commissions they can earn by closing a few big deals. They know how to capitalize on social media, viral marketing, events, and the new tools of the trade. They are always ready to move on to the next big opportunity as markets change.

I’m sure you can think of a dozen more examples today. Tomorrow you may be looking for a Personal Finance Professional, Health-Care Professional, or even a Startup Professional. We are becoming a society of entrepreneurs. Even the education system is starting to recognize this, with entrepreneurial courses and majors springing up in every university across the world.

Thus you don’t need to invent an innovative product or technology to be a real entrepreneur. The cost of entry as a services professional is at an all-time low, with powerful free tools to create your own website, cheap incorporation of yourself as a Limited Liability Corporation (LLC) via the Internet, and community colleges offering courses for anyone in the new technologies.

The challenge is that not everyone is ready and willing to take on the responsibility for their own skills, lifestyle management, and financial stability. Many of these new entrepreneurs come to me looking for an angel investor or crowdfunding, which will never happen. Investors don’t fund entrepreneurs offering services, since these don’t scale, don’t have large margins, and need just a customer contract to start.


You Might Also Like :

Back to Featured Articles on Logo Paperblog

These articles might interest you :

  • Skinny Creamy Italian Vanilla Gelato / Fior Di Latte Gelato - Made with Minimal...

    Skinny Creamy Italian Vanilla Gelato Fior Latte Made with Minimal Sugar Cream

    version; Today, I will be sharing a fantastic gelato recipe!Is gelato the same as ice cream?Although gelato is the Italian word for ice cream, both are... Read more

    The 21 October 2018 by   Zoebakeforhappykids
    FOOD & DRINK, RECIPES
  • How To Make Your Boyfriend Give You Money Without Asking Him

    Money has always been a sensitive issue in a relationship. Women like it when their boyfriend pays for dinner, movie ticket, and other dating expenses. Read more

    The 21 October 2018 by   Naijapary
    SOCIETY, A-CLASSER
  • Discover the Nature and Beauty of the High Mountain Environments in the Valle...

    Discover Nature Beauty High Mountain Environments Valle d'Aosta.

    Aosta Valley is the smallest region in Italy; in its northwest, it is located between France and Switzerland. At its core are its majestic peaks (the region... Read more

    The 21 October 2018 by   Hugor
    DESTINATIONS
  • The Autumn 100 - My Ultra Comeback

    I thought I made pretty good time getting to the turnaround point. Now I was pleased it was downhill all the way to Goring, except there still seemed to be load... Read more

    The 21 October 2018 by   Jamesrichardadams
    FITNESS, OTHER SPORTS, SPORTS
  • When You Should Come In To Net

    When Should Come

    One of the main goals in doubles tennis is to take the net, as it decreases the likelihood of hitting the ball into the net and gives you better angles to put... Read more

    The 21 October 2018 by   Jen Campbell
  • …Root, Root, Root

    …Root, Root, Root

    As the end of October comes into view so too does the beginning of the 2018 World Series. This year sees the Boston Red Sox take on the LA Dodgers in a battle o... Read more

    The 21 October 2018 by   Zer
    SELF EXPRESSION
  • Loneliness Limited

    Loneliness Limited

    Is anyone here a fan of the writings of the American author Kurt Vonnegut? He was quite fashionable in the 1960s and early 1970s but I think his cachet is not... Read more

    The 21 October 2018 by   Ashleylister
    BOOKS, CREATIVITY, CULTURE, SELF EXPRESSION

Magazines