by Courtney Rosenfeld, gigspark.biz
Though once considered the fringe of employment, 16.5 million people work in the gig economy in the United States, a figure that’s set to grow as more and more companies outsource projects and professionals discover the freedom and flexibility of being their own boss, setting their own hours and often working from home.
This could be a golden opportunity for you, whether you’re tired of trudging to the office every day or looking for an extra source of income in retirement. Opportunity abounds in a number of specialties, from writing to designing to pet care to housecleaning. However, it’s easy to get overwhelmed by the responsibility of running your own show and finding enough contracts to pay the bills, so here are some tips to keep things on track.
Set Goals
You need goals to stay motivated, move forward and be successful, says an entrepreneur writing for the Balance Small Business, who provides a list of resources that help you set realistic targets for your enterprise, whether they’re financial or related to finding new clients. Remember to divide them up into long-term and short-term goals so you have something to aim for every day when you start work. There’s no point in just saying, “I want to be a millionaire.” If that’s the dream, you have to make a plan for it.
Create a Cozy Home Office
You’ll be spending a lot of time in your office, so make sure you’re well equipped in a space that’s dedicated to work and nothing else. It will serve you well if you have a spare room you can devote to your enterprise, but setting aside a quiet corner in the basement or attic would also suffice. A natural source of light does wonders to keep up your spirits, especially when the sun is shining, while an ergonomic chair provides the comfort you need for long hours at the computer. If your home is lacking space, you could convert part of your garage into an office. If you don’t have a garage on your property, consider building a prefab steel garage and using it as office space. Steel structures are inexpensive and easy to maintain.
Stay Organized
According to a startup expert with Forbes, successful entrepreneurs all “batch” their tasks. This refers to grouping everything you need to do into categories, then doing one of those all at once. For example, set aside one morning for writing emails and the afternoon for developing a business plan, but keeping in mind priorities that need to get done that day, of course. This technique helps you avoid floundering in a jumble of random activities.
Manage Your Finances
One of the cardinal rules of running your own business is separating your business from your personal life, and the easiest way is by setting up separate bank accounts. Once that’s done, create a budget for expenses based on an average of what you make from month to month, as that varies. Remember that you are one of those expenses, so pay yourself on a regular basis by transferring money to your personal account. Be sure you have enough to keep up with loan payments, and use a home cost calculator to determine how much you can spend on property if you’re on the market.
Keep Marketing
The nature of freelance work means bouncing from contract to contract or project to project, so you can never cease promoting your services, or your revenue streams may dry up. With little cash to spend on advertising, choose a few inexpensive means of getting the word out, and batch them into your schedule. Social media channels are on your side, so make daily or weekly posts that include a link to your blog or website, and don’t be timid in asking for referrals from past and current customers.
Watch Your Health
When striking out on your own with a new business, you need to be at your best mentally and physically, so this is not the time to neglect your diet and fitness routine no matter how much you want to tap away at your laptop. Turn it off, put on your sneakers and head out for a jog, cycle or power walk. When it’s time to eat, load up on vegetables, lean proteins and whole grains while keeping sugar and fat intake at a minimum.
Starting up your own business may be a bit nerve-wracking at first, but once the revenue starts flowing in, you’ll begin to appreciate the freedom of being your own boss. It’s truly liberating, so enjoy it.
Image via Pexels.
Courtney Rosenfield started her career in the gig economy after several years of enviously watching others do the same thing. She started Gigspark to be a resource and a first step for people who are looking to join the gig economy, either to supplement their income or as a way to fulfill their dreams of becoming an entrepreneur.
