19 Jun 5 Keys To Help Your Gig Thrive
The gig economy is here to stay. One report suggests that it will change traditional employer/employee roles. Employers use technology, work-from-home, and other cultural shifts to maintain their staff. Right-sizing the workforce is part of expense management.
However, workers are taking a stand and creating opportunities on their terms. They want control over their schedules and work products.
Freelancers should set up their business operations. Review the below best practices for freelancers and the like:
Plan. Ideas that disrupt industries have been making a lot of money. Brainstorming and “it would be nice to have this” acumens have expanded the creativity within the United States of America (U.S.). An asset to these great ideas is a business plan and operating agreement.
Saleable service/product. The retail and service industries have added jobs consistently. Review reports by the U. S. Bureau of Labor Statistics. Do your research on what customers need and want. If your business sells products, expand your online presence. If your company provides services, treat your customers well. Use your marketing strategy to speak to your customers. The goals of your marketing and sales team should align.
Accounting/legal/regulatory. One popular business truism is to partner with a certified public accountant, lawyer, financial advisor, and banker. Add to this team an insurance agent. Vet the professionals who assist you. It is best to be proactive versus reactive as you maintain your compliance workflows.
Manage expectations. Each industry has its ups and downs. Contracts may be signed or could fall through. Know the average profit margin within your industry. Profits often vary from month to month. Cashflow is a key to business success. Understand that business is complex. Be a realistic and adaptable leader.
Happiness. For many, being involved in activities that they enjoy is fulfilling. Let this be your case. Discovering your dream job or career is not always obvious. Try engaging in assignments such as volunteering, internships, or the employment probation period to expose yourself to various work environments. Discover what work-life healthiness means to you.
The economy appears to be welcoming “gig” entrepreneurs. With looming reports of the underfunding of the federal Old Age, Survivors, and Disability Insurance program (e.g., Social Security), working multiple jobs and freelancing is very common. Thus, use the above action items to establish sound business operations. Review the blog 4 Moves Game-Changers Use In A Growing City.
Contact Pierce, CPA & Advisors at (205) 370-4508, welisten@AuthenticCPA.com or https://Calendly.com/authenticcpa/15min today! The business strategy partner solution (starting at $900 US) is for businesses who do not have a Certified Public Accountant and Certified Bookkeeper and have business and accounting challenges.
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