Be An Owner of Something Vs. Being Owned By Someone Grinding and Gigging
In the past two weeks, three close colleagues in the “big” corporate world sent the dreaded email to me — “Wayne, I wanted to reach out to see how you might be able to help with my next job search and contacts as my job was just eliminated?” Their roles were Chief Financial Officer, Chief Marketing Officer and VP Sales (Pharma, Manufacturing and Banking industries). Downsizing, slow business growth and wage costs were the reasons for their new job searches.
There are benefits to working as an employee for an organization as we all know, but time and time again the downsizing trends of the late 1980’s are more impactful today than ever before. Job security is never guaranteed. The world of learning a new skill is easy to do with online courses, online learning sites, free ebooks, and just goggling the topic; many individuals (young and old) can build Gigging skills. However many individuals will follow the “old route path” and go back to school and get an MBA degree. In many cases the MBA program will prepare you for running someone else’s company/organization vs. your own — unless it incorporates an entrepreneurial focus.
We continue to hear about the You Economy and Thank You Economy as covered by Social Media and serial entrepreneur — Gary Vaynerchuk and recently Success Magazine. “The You Economy is all about creating opportunities instead of “finding a job”, Success Magazine.
If there ever was a time to consider Grinding and Gigging it’s now. The barriers to entry are very small and not much money. Moving the mindset from W-2 to 1099 requires continuous commitment and Grinding. It’s not easy of course but for many individuals when they look back after a few years it was the best decision they have made with their career.
Recently, while in Chicago I met a Grinding and Gigging Uber driver. He mentioned that he wanted more control of his time vs. 9 to 5 work along with personal ownership vs. being an employee. He replaced 100% of his income (previously worked in a marketing department of a manufacturing company) by driving for Uber — renting out his flat through Air BNB, and doing a handful of 1099 monthly contract marketing gigs through various online sites. His wife is full time with her own Gig — Direct Selling for a women’s cosmetic company. The total time to replace his after tax income (tax deduction benefits while being and entrepreneur and 1099 income) was 9 months. He mentioned his total costs to set up his personal Wordpress website (outlining his business skills) was $1,500 and $200 per month to an outsourced company to provide marketing support and evaluation parameters of various gigs. You probably have some skills that are in demand and it does not matter if you have a degree in the specific field.
If you’re fully employed at an organization and you think you’re not subject to a downsizing it’s time to think about Grinding and Gigging.
Need a Grinding and Gigging Plan? We can help you. Start with the “10 Steps to Grinding And Gigging Guide”