Gig Work – Yay or Nay?

As someone who’s been working remotely in the gig industry for a few years now, I can definitely say that it has its pros and its cons. There are long, busy days and weeks where you get hardly any income. It’s a nonstop grind just so you can cut yourself the tiniest of paychecks. Yet having only yourself to answer to is an amazing, freeing feeling like no other.

Yet I bet that with so many still at home, people are wondering if the upsides of working gigs outweigh the downsides.

By no means do I have decades of experience, but as a younger Millennial with a few years of remote entrepreneurship under her belt, I have been able to see quite a few differences between gig work and 9-to-5 jobs. Here’s what I’ve learned so far!

It’s great to have a side business

If you’re not happy with the money you’re getting from your day job, starting a side business from home can help add to your monthly income.

Being able to make money from home is also highly desirable, with the world still locked down and social distancing. The pandemic is affecting everyone differently – some have to work in dangerous environments, others cut their hours, while still others have lost their jobs altogether. Having money coming on the side can give some peace of mind, and can even flourish into a business that you can work on full-time.

Work/life balance is almost nonexistent

One downside is that, as with any entrepreneurship, you’re busy all the time. Searching for clients, chatting with investors, marketing the business, bookkeeping… you must wear many hats as a business owner, and your job is never done.

It will likely be years before you can make a livable income off your business and have a regular schedule. Until then, you’ll have days that fluctuate between being incredibly slow and incredibly fast-paced and busy. You’ll have to roll with the punches and simply understand that your work will take up a giant chunk of your day.

Perfect for people stuck at home

If you’re on layoff or have even been let go, working a side hustle from home is an excellent supplement to unemployment income. When you’re living paycheck to paycheck, every extra penny can help.

If you’re a stay-at-home spouse looking to make some side money, working gigs while the kids are napping or after chores are done can keep you feeling productive.

Money is tight

Don’t expect to be able to quit your day job any time soon. As I mention above, you’ll be making peanuts for a long while. You’ll most likely have to land a few big, long-term clients before you can make a living wage off your business – which won’t happen without getting years of experience and building up your portfolio.

All in all, being a business owner is amazing. Becoming your own boss and calling all the shots while being able to work where you please is something most people don’t ever get to experience. But the journey to become fully established is hard – I’m not even there yet! There are cons with gig work and remote entrepreneurship, but the end goal is worth it.