The Definitive Guide on the Sharing Economy
What’s the buzz about the sharing economy? Well, in simple words, it refers to sharing ideas, values, and materials through the Internet. Freelancing is a form of sharing economy that fits well within the preferred work structure of the future, with 34 percent of the American workforce working in the freelancing industry and the figure is rising speedily. Statistics reveal that more than 50 percent of Americans would choose sharing economy by 2020.
Of course, with the freedom to pursue your dream career without committing too heavily to a client, freelancing economy is slowly becoming the charm of the job market. From renting cars to babysitting to car renting to skill-based gigs and what not, peer economy is taking everyone by storm.
No doubt, it is here to stay, expand, and become bigger, with a larger workforce willing to commit to the gig economy.
Sharing Economy Jobs — A More Lucrative Alternative to Fixed Price Gigs
With the promise of work and workplace flexibility, sharing economy seems to be the magic wand for professionals to supplement their stable income. A vast majority are even ready to take the plunge into making a full-time job out of their part-time gigs.
Not a bad idea.
I, too, joined the freelancing bandwagon a few years back after quitting my steady job and have never looked back. Yes, I have no regrets whatsoever!
The flexibility and freedom to be my own boss while pursuing my dream career has kept me going! The work satisfaction you get from working for yourself does not have a match.
So now you must be wondering what’s so special about collaborative consumption that every other person seems interested in today.
Well, a freelancer enjoys the freedom to set their own work hours, choose their place of work, enjoy more off days, spend ample time with family, and still make a reasonable income. Yes, independent contractors can do pretty much whatever they want outside of work, and it is this work flexibility that is attracting skilled and non-skilled workforce to the sharing economy.
Peer to Peer Lending
As technology makes it easier for people to connect with each other and share ideas, values, and items, sharing economy is evolving at a fast pace. Collaborative consumption ensures that people are open to renting or sharing their stuff with others, which may be tangible or intangible.
Receiving someone’s services, with no product involvement, is an intangible form of sharing. For example, guest blogging, freelance web designing, and working as a virtual assistant are all forms of peer economy. Simultaneously, you have the opportunity to divulge in different arenas.
It’s time for independent-minded workers to steer the new marketplace, which seems to be becoming a top choice for work opportunities for professionals and non-professional workforce.
According to the American Psychological Association, a quarter of Americans does not trust their employers and seeks the right opportunity to make the switch to a more fulfilling career. Another report states that there has been a significant increase in the number of independent workers since 2011, which only points toward the rising popularity of sharing economy among the masses.
Since a number of people aren’t happy with the current system, collaborative economy could prove to be a better model for such people, including those looking for a job transition, the unemployed, part-time workers, and stay-at-home parents and even those in their retiring years.
Working in a sharing economy affords the best opportunity to baby boomers, who do not have enough to do, to stay engaged while making some income as well and the aspiring millennial generation to pursue more entrepreneurial paths and live their dream careers.
Additionally, the new collaborative economy allows people to share their underused assets to make some money. According to a Forbes report, the sharing economy revenue will grow by 25 percent to surpass $3.5 billion this year.
Collaborative Consumption — Way to Go
The gig economy is an interesting way to challenge the way we live and work. There isn’t anything better than working for yourself under your own banner, unlike a full-time job where you work like an ass and are always under the scrutinizing eyes of your boss. Gig-based work gives you the freedom to craft your own schedule and liberate yourself from the burden of the stable job responsibilities.
Collaborative marketplaces allow people to monetize their assets, skills, and time, and enjoy the life they have always dreamed. It also provides the platform to connect with like-minded people, who share common interests.
Sharing economy is revolutionizing the way people think about entrepreneurship and ownership, and a lot many are waiting for the right opportunity to get their share in the new economic system. Independent contractors are seizing all opportunities to reach customers and clients that were once thought inaccessible. In doing so, they are adding value to the nation’s economy as well as local communities while increasing their work satisfaction experience.
The sharing economy isn’t just a way to supplement sagging paychecks; it’s much more than that. A good number of people are using peer-to-peer platforms, such as Peer Hustle, to live their dream careers and turn them into their primary sources of income.
Today, freelancers are in almost every industry. They are micro-entrepreneurs, powering the sharing economy and building brands and small businesses. They are turning garages into craft manufacturing units, apartments into hotels, and what not! A string of small gigs is the new normal. And an increasing number of people are happy to switch over to gig-based work to earn work satisfaction and contribute to a sustainable peer economy.
Research predicts that the ranks of freelancers will rise to 40% of the American workforce by the end of the decade.
The Changing Working Landscape
Self-employment is not new, though it is getting widely recognized as a lucrative work opportunity by a wider audience. Moreover, as organizations continue to cut jobs, replacing permanent staff by freelancers, the entire job landscape is undergoing a dramatic shift. The new contract between an employer and worker is in the form of a series of transactions and not an “enduring relationship.”
The growth of technology platforms and on-demand marketplaces, such as Peer Hustle, has given the much needed support for independent-minded workers to switch over to their dream careers. As a result, self-employment has undergone a technological makeover, giving a new lexicon to freelancing — the sharing economy.
With the emergence of gig economy, the very notion of what freelancing is all about is undergoing a change. In the new economic landscape, freelancing is no longer gig-based; rather, the peer economy is transforming it to become more diversified, flexible, and anchored. Now freelancers offer more diversified services, not only in their professional fields, but also in other areas. Renting space, furniture, or digital equipment are a few examples.
The concept of shared workspace is also raising its head with the growth of peer economy. In today’s fragile economic situation, there isn’t anything like a job for life, since there is a high risk of redundancy in steady jobs. With a high risk of growing unemployment, concepts like sharing economy promise to power new job creation. Gradually, this new work concept is taking the world by storm.
Trust is critical for all peer-to-peer businesses. With the growth of sharing economy, the focus is now on online reputation and identification. All those involved in this new form of economy need to trust the people they are connecting to work with and the online platform they are using. Using reliable and reputable peer-to-peer platforms is critical to the growth of the peer economy. An increasing number of sharing economy platforms are strengthening their security to stay in demand.
Peer Economy is Here To Stay
Creative entrepreneurship, solopreneurship, sharepreneurship, and disruptive innovation are the key features of the sharing economy, with freelancers being at the heart of the gig economy. Sharing is a form of caring, and it supports people to deeply engage in communities and become active citizens
As digital innovation creates exciting ways to connect and do business, the future of sharing economy is bright. Collaborative consumption platforms are unlocking a new generation of solopreneurs, who are willing to make money with their skills and assets. Obviously, the route to self-employment was never so simple.
The new array of sharing economy platforms are easily accessible digitally, which makes it easier for freelancers and independent contractors to connect through like-minded people online or through smartphone apps.
True, sharing economy is transforming different sectors and changing the way we do business. It allows you to share things you own with people you have never met but are connected with online. A number of people are happy to embrace the shift and be part of the growing gig economy. After all, self employment is liberating.
Who would mind connecting to a trusted marketplace that can offer the best prices for their services? Yes, sharing economy gives you this freedom!
About Peer Hustle
Peer Hustle is a local on-demand freelancer marketplace. Download our app and start monetizing your unique skills today.
Originally published at peerhustle.com on October 3, 2015.