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Apr
04

7 Tips To Help You Succeed In The current Gig Economy

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7 Tips To Help You Succeed In The Gig Economy

 

Small businesses and sharing economy are ruling Australia today. You can become successful in this new economy – the gig economy if you are armed with the right information.

 

People generally refer to this new business model as sharing economy. There is really nothing altruistic about it. The fact is that; people need services and are ready to pay to get them. You are the service provider, the place where you meet clients is the platform, and they usually charge a fee for each transaction. Those searching for these services are the customers, and they are willing to pay for quality services.

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If you’re thinking of getting involved in the gig economy, then below are seven tips that can help you succeed;

 

  1. Be realistic

 

The truth is that you’ll earn a lot less than most platforms say you would. They’ll always be some expenses. For example, if you intend to offer rides, you’ll need to spend money on gas and maintenance.

 

  1. Always keep track of your money

 

Always remember to keep track of your income and expenses. You can set up a different bank account for your business. Use just one credit card specifically for your business expenses. You’ll still have to pay taxes as a self-employed citizen; so set aside money for that monthly.

 

  1. Get insured

 

Examine all insurance options offered to the platform you are interested in and find out what it covers and doesn’t cover.

 

  1. Get health care cover

 

If you do not have a day job, you will need to care for your health on your own. Healthcare is usually affordable in Australia so that you can get health insurance as an individual.

 

  1. Provide a little extra

 

You don’t always need to stick strictly to your services. You can always offer people a little extra help. If you’re running a taxi service, offering clients bottled water would help increase your ratings.

 

  1. Create a customer database

 

Although customers find you through the platform, it’s more profitable if they return to you directly. Make sure they can access your business card, email address, and social media pages. You can request for a satisfied customer’s’ contact information so you would be able to keep in touch.

 

  1. Be careful

 

This is the most important part. Yes, you’re trying to make some money, but you shouldn’t be careless about it. Don’t be desperate to make money, because you may end up getting into trouble.

 

The gig economy always involves strangers; you’ll have contact with strangers on a daily basis. Some platforms may run background checks on you and other services providers. However, no platform runs background checks on customers. This is why you shouldn’t rely on them for protection. Run your background checks on each client, especially when things seem funny. Always be cautious and ready to back out as soon as you feel unsafe.

 

You can make money in the Australian gig economy, but you should know exactly what you’re getting into before you start.