They can't fire you...YOU QUIT!
Congratulations and welcome to YouEconomy, the growing movement of enthusiasts, time framers, dignity advocates and moneymakers. At a time when the relationship between employer and employee has evolved from paternal to transactional, those who embrace the YouEconomy are ahead of the game.
Related: Introducing YouEconomy
As SUCCESS defined these bold pioneers in our 2016 special report, the YouEconomy is the growing global network of people who are taking the future of work into their own hands. They share resources and technology, perform gigs on job boards, start independent businesses, and innovate ways to generate income. The people of YouEconomy apply their experience in new ways, learning new skills and tapping into endless resources for training and support. They design their life, make time for family and building professions according to their individual goals. Along the way, the friends they make, the people they meet, and the places they see enrich their lives beyond what they thought possible.
They live the way they want, do the things they want and make as much money as they want.
So it was time SUCCESS dedicated a column to you in every issue – a column written by someone from YouEconomy, for someone from YouEconomy and about YouEconomy. Come back to each issue, as we'll break down everything you need to know to succeed soloing, here.
But first, for anyone still on the fence, sticking to what feels familiar and comfortable (at least for the moment), let's see if I can convince you to take the plunge.
Decentralization and you
If you've been watching the economic news lately, you might have heard the term "decentralization." Basically, this term applies to the transfer of decision-making power from a central authority to local or individual authorities. This means that instead of a large organization or government making a decision for smaller organizations, smaller organizations have the power to make their own choices.
So how does this apply to your opportunities in YouEconomy?
YouEconomy is made up of the growing global network of people who are taking the future of work into their own hands.
The YouEconomy can be seen as a form of decentralization. Individuals, rather than being tied to a single business or corporation for 25 years and dependent on the financial responsibility and liability of the organization, can now exercise decision-making power themselves – and with much greater ease. than ever. Imagine you are your own business. Just like any multinational conglomerate with multiple revenue streams, many of which build on each other, you can build your personal business in a way that works for you. In fact, your approach to YouEconomy should be varied, as it reflects your personality and interests, which are surely also varied.
Of course, that doesn't mean you have to quit your job altogether to have decision-making power. In fact, part of the beauty of YouEconomy is the flexibility to create the kind of income diversity that works for you and your family.
For some, it feels like a full-time job with a business and shop Etsy next door. For others, it feels like multitasking with Uber, Lyft, and TaskRabbit, while working part-time at a restaurant. And for still others, it looks like a home business in social selling (also known as direct selling or network marketing) that allows them to grow financially and provide opportunities for others. Social selling can be a great option for people who already have established networks, such as church membership or community groups, or for people looking to expand their social circles.
YouEconomy is empowering, individual and flexible. It can be centered around your own philosophies and goals.
Creating Recurring Income
Let's discuss one of the biggest fears that holds many people back from taking the plunge and joining the YouEconomy:the fear that business dries up or they face long periods without income.
This is a justified fear, as it could certainly happen if the proper processes to create stable work are not put in place. Freelancers, coaches and consultants love the freedom and flexibility they find in YouEconomy. But a common complaint is the tendency to feast or starve when it comes to projects. One day you land three new clients and the next you are staring at a barren pipeline. So how do you create stability in the midst of the unknown? Here are some ideas for the innovative solopreneur:
Recurring Service Packages:If you're a graphic design freelancer for hire, consider a recurring service you can offer clients at a lower price. A coach may offer monthly check-in calls with a discount for clients unable to afford the more expensive coaching schedules. And a consultant could create a bundle of commonly requested services at a price slightly lower than their individual price. The idea is to reduce the package slightly as an incentive for customers who will see the value of a long-term commitment, and to make the term commitment part of the deal so customers only receive the package only if they agree in advance to respect it. for months at a time.
Memberships:This concept offers a slightly different approach to the recurring service package, where you offer customers regular services and information on a monthly basis for a flat fee. Your service offerings and information delivery happen on an online content platform like Kajabi or Rozuku, so you don't have to build an elaborate website. And the energy and time you spend building resources for one person benefits all members, giving you a scalable and predictable revenue stream.
Schedule Request:Most clients have a schedule in mind for their projects. The problem is that they often wait until the last minute to seek help and are ready to start now! To offset this feast-or-famine trend, try publishing your schedule and sharing it publicly when you've booked well in advance. That way, when your customers start seeing your calendar booked two, three, or even six months in advance, they're booking your time sooner. This translates to a project deposit paid further ahead of the work you do and a more evenly distributed revenue stream.
Innovating small ways to create predictable income may not seem to have much of an impact on your profits at first, but during times of famine these little bits will add much more peace of mind.
So, are you you ready to start the YouEconomy? There's nothing to hold you back.
Related: YouEconomy:the movement that is changing the way we work and live
This article originally appeared in the Winter 2018 issue of LadiesBelle I/O magazine.
