How to Turn Your Passion and Skills Into a Gig-Based Business
Saturday, August 4, 2018, 6:00 AM | Leave Comment
We all have something we are exceptionally good at. Perhaps you have a knack for graphic design, writing, painting, childcare, or organization.
No matter what your passion or interest is, chances are you can tap into the gig economy and turn it into a gig-based business.
The gig economy is becoming more and more popular, and Wonolo defines it as a “general workforce environment in which short-term engagements, temporary contracts, and independent contracting is commonplace,” giving you the unique opportunity to do what you love and be your own boss.
So, how do you get started?
Photo By: Pixabay
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Create Your Image
Every small business has to start somewhere, and yours is no different. Before you start marketing and reaching out to clients, create an image for yourself.
For starters, you’ll need a business name. It can be straightforward or unique so long as you back it up with marketing.
Ideally, the name you choose should tell clients or customers what your business is to avoid confusion, but don’t let this deter you from getting a little creative – a name with a backstory is interesting too. However, be sure that the name you choose can be paired with a clean, eye-catching logo to set yourself apart.
Creating a business logo can feel like one of the most challenging parts of starting a new business – not to mention expensive, if you hire a graphic designer – so try starting out using a free online business logo generator tool to walk you through the process. You can experiment with how your business name fits in with the image and adjust it accordingly.
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Get Noticed
It took you weeks to come up with the perfect business name and even longer to get that logo looking just right, so don’t let all that hard work go to waste by not marketing yourself properly.
As a start-up business, you probably don’t have the funds to launch a full-scale marketing campaign, so take advantage of free services such as social media.
Create a Facebook and Instagram page dedicated solely to your business, but don’t forget to update it frequently.
Create a polished website and link to a blog or YouTube channel where you can update followers and clients on what projects you are currently working on.
There are plenty of websites dedicated solely to giggers and freelancers where you can offer up your services for sale and build clientele. Some of the most popular sites include Fiverr, TaskRabbit, and UpWork.
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Don’t Forget Taxes
Once the request for work and projects start coming in, the excitement is overwhelming. However, you are self-employed, and with this comes different tax obligations.
For example, if you make more than $400 a year from your gig-based business, you’ll have to pay the self-employment tax. Unlike a regular job where taxes are automatically deducted from your paycheck, you’ll be responsible for making estimated tax payments.
Your tax preparer can set you up with these payments, which are made four times a year and based on your estimated income.
To better keep track of your income and expenses, set up a separate bank account. If ever you feel like something isn’t right, don’t hesitate to give your bank or tax preparer a call – you might just catch a potential headache before it happens.
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Go with the Flow
When you enter the gig economy, you have to expect setbacks. Learn from them rather than let them discourage you.
Until your business gets off the ground, you’ll likely keep your regular job, so if you find that a certain gig just isn’t working, you are free to change it up.
It’s highly likely you’ll experience criticism from clients as well. Some might be nasty, but others can be a learning experience and a chance to better meet and exceed your client’s needs and expectations.
Customer feedback is important, and if you are hearing a particular suggestion or complaint often, it’s worth looking into.
The gig economy is exciting to explore. It is filled with possibilities and opportunities, but don’t let that distract you from putting in the work to get your business up and running. Create an image for yourself, employ marketing strategies, keep track of finances, and enjoy the ride!
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