Set your own hours. Do as much, or as little, as you want. Get paid for the effort you put in. Be your own boss. Have businessmen ride in your backseat take annoying conference calls on speaker phone while you navigate rush-hour traffic? All potential benefits (and a possible downside) of the gig economy, where a series of short-term tasks replace the 9-to-5 grind. Through smart phones and sophisticated apps, you can get paid doing just about anything. But are all gigs as appealing as they seem? Can it (or should it) replace your steady income? If you lost your job, could it help pay the bills? Below, I try to break it all down into the Good, the Bad, and the Ugly.
The Good
First, it's worth stating that the "gig economy" did not start with Uber in the last decade. It existed in the earliest civilizations, and remains common in many professions today. Most electricians, plumbers, accountants and even doctors are paid by completing tasks. The true evolution of the gig economy is the technology that gives employers the ability to seek, select, and pay individuals for services rendered in a quick, clean and repeatable manner. If you have a specialized skill to offer, you could find avenues to market your ability to interested parties through several websites. If you're curious, check out a site like Upwork. They're not paying me for the plug - I used them recently on a project and was impressed with the caliber of talent and results. You can search for a skill (e.g. proofreading), and you will see dozens of individuals that advertise proofreading as a service. Most sites allow would-be hiring parties to post work for free, and charge the person performing the work a transaction fee for creating the market and forum for conducting business. True free-market principles are at play, so you need to price your services in line with competitors, and be prepared to negotiate when taking on projects. This is also an efficient way for small businesses to find skilled labor in a global economy for duties outside of their expertise. If you're willing to put yourself out there, it's a great way to supplement income or perhaps offset a furlough or layoff.
The Bad
While I don't think it's necessarily bad across the board, there are "gig" jobs that require manual tasks that don't require much skill or ability. Please don't read this as some socioeconomic commentary on white-collar jobs being "good" and blue-collar jobs being "bad". I have a great admiration for the men and women who use their hands (and brains) to do the physical work necessary to make our society thrive. What I'm talking about are the apps/websites that offer "big paydays" for going to a stranger's house to do glamorous tasks like "clean up" after a dog. While I certainly will not discourage anyone from a good, honest income, why not put your time and talent towards something you actually enjoy?
The Ugly
While you can credit them for popularizing the gig economy movement, ride-share services are my least-recommended gigs. Don't get me wrong, I think they're a fantastic service that enables users to quickly and efficiently get from Point A to Point B at a reasonable cost. Plus, I think the concept is brilliant, as it allows almost anyone to capitalize on an otherwise under-utilized asset (vehicle) with a little free time to make money. My beef is with the expense, effort and frustration you have to endure. Walk through this scenario with me. First, you have to spend time and money to get your vehicle certified by the ride-share company (clean, damage-free, etc.). Then, you have to maintain its pristine condition while working ($30/month car wash subscription perhaps?). With your shiny Toyota Camry ready to go, now you have to strategically position yourself in a location where riders need to be picked up. Success! Two tweens hop in needing a ride to the mall. To ensure a good rating, you offer them mints and bottled water while blaring Post Malone from your car speakers to appease their taste in music. Drop-off complete. Woo-hoo, a five-star rating and a $2 tip! While you patiently wait for the next ride, you swing over to the nearby gas station to fill up the tank and snag some Cheez-Its. Half an hour goes by without any work. Losing faith in the prospect of additional riders and fighting boredom, you head home. Drivers certainly won't always have this experience, but what I'm trying to illustrate is the true costs (and frustrations) in making money at this line of work. And if my anecdote didn't convince you, research shows that many drivers - after factoring in all costs and total time spent - don't even make their state's minimum wage!
The Verdict
The gig economy is growing and, especially with our current unemployment rates, projects to continue in popularity as a second job or alternative career path. Do some research. Factoring in your costs, how much money will you net per hour? Is this truly just a side hustle, or can you scale up to make a living solely off of it? And, especially if this just for some fun money, do you enjoy it and is it worth your time and effort? My final verdict is there are a lot of ways to make money these days, and while you have to pay the bills somehow, choose the work that best suits your skills, desired income and enjoyment. And tip your drivers!
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