What Is a Gig? Your Complete Guide to Succeeding in the Gig Economy

By Ashutosh Jha → Last Updated on Monday, February 25, 2019
Is your current job a gig or a traditional job?

Well, if you aren’t one of the over 54 million Americans who’re part of the gig economy, you might be wondering, “What is a gig?” And even if you’re already part of this economy, you could be yet to develop a clear understanding of what it means to have a gig instead of a traditional job.

Worry not, though.

In this article, we’re settling the question of what a gig is. You’ll also find a couple of tips on how to thrive in the gig economy.

Let’s get into it.

What is a Gig?

A gig is a temporary task or job. A company or project owner hires you to perform a specified task for a certain period of time. For instance, if you’re a graphic designer and a company hires you to design a logo, that’s a gig.

Bear in mind, not all gigs are short-term engagements. Some can run for several years, as long as the company has that specific need. However, no matter how long a gig runs, it still remains a temporary job.

Also, people who do gigs are known as freelancers or independent contractors.

On the other hand, a traditional job is a salaried position. When you hold a job, you’re remunerated on regular basis, and your employer withholds things like payroll taxes. Freelancers are in charge of their own taxes.

As an employee, you’ve workplace rights, such as the right to fair compensation. And if you’re fired, you can challenge the decision in a labor court. Freelancers have no such right.

How to Succeed in the Gig Economy

Gigs enable you to be your own boss. Although your temporary employer can technically boss you, you’ve greater control over your schedule.

Freelancing can also be very lucrative, but you have to know how to set up yourself for success. Here are some tips.


Embrace the Temporary Nature of Gigs

If you’re a newbie in the gig economy, it’s easy to fall into a comfort zone once you land a gig that meets your needs. This is a recipe for disaster because your client can pull the plug on your gig at any time, regardless of whether they had said it’ll be a long-term project. And just like that, you’ll be left without an income.

To avoid such a scenario, learn to embrace the temporary or uncertain nature of gigs. This way, you’ll always have a plan B and C should your gig come to an end unexpectedly.


Create a Financial Plan

What’s worse than losing a gig? Losing it when you don’t have enough money saved up.

When freelancing, there are times when gigs will come in bundles and there are times when they’ll dry up. Creating a financial plan enables you to make the most of the feast and have enough to keep you going during the famine.

Remember to track your income. Use an online paycheck stub generator to record your earnings. Also, you can use the pay stubs as proof of income when applying for a loan or renting an apartment.

The Future of Work Is Here

So, what is a gig?

It’s usually a short-term, temporary job, but can also be long-term depending on company/project needs. Gigs are becoming more preferable by the day, so much that the gig economy is now forecast to be the future of work. Here are some of the areas where majorly freelancers work-

All the best in your gigs and be sure to explore our blog for tips on how to make money online.
Ashutosh Jha

Ashutosh Jha is a professional blogger, Blog and IT Consultant. He writes about Blogging, SEO, Making Money, Internet Marketing and Web Design.
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