How to earn extra income using the internet in the freelance economy

There is no easy path to making money. You have to work extremely hard and even engage in additional jobs that can sometimes be stressful to earn a living. However, with the gig economy becoming ever more popular, you can still keep your 9 to 5 job and still earn some extra income without sweating. You only need a good internet connection.

In Nigerian parlance, it is often referred to as a side hustle.

A gig economy is a free market system in which temporary positions are common and organisations contract with independent workers for short-term engagements. Since they are short-term engagements, you can easily perform the given task at your convenience.

In fact, the gig economy has been scaled to a whole new level where you can simply advertise your skills, talent and what you can offer to prospective clients. If the client likes your profile, you will be contacted. In this case, you do not need to glide from one website to another in search of gigs.

Today, there are thousands of sites where you can find short-term gigs or advertise your skills. They include Fiverr, Freelancer.com etc.

The opportunities in the gig economy are endless. But, there are some strategies you need to know or have at your fingertips to be successful in the gig economy. We share some of these strategies.

Show versatility

The gig economy is very competitive and only the best will be contacted. While it is important to know your areas of strength, the gig economy requires that you also show utility and versatility. The days of "I only do this" has past. It is important to display your ability to flex within your field of expertise and embrace changes in technology or the evolution of the way clients utilise your services.

Focus on personal branding

Thriving in the gig economy requires more than just your subject matter expertise. The key to standing out in a crowded marketplace is to communicate your core values and benefits persistently. In other words, you need to have a solid personal branding strategy in place. To unearth your strategy, ask yourself what it is that you are particularly good at. What do you want to be known for?

Build on referrals

If you're in a heavily saturated industry, it can be hard to market and sell your gig. On the other hand, it is often difficult for consumers to determine who to buy from when the market is saturated. Encourage clients to offer referrals and testimonials to help get other clients. Typically, their referrals will have some background information about you and will be easier to work with.

Take deadlines seriously

Deadlines are sacred. Failure to deliver jobs on deadline can be very fatal to being a success in the gig economy. Clients do not want to deal with someone that disregard deadlines. If you cannot meet the deadline, ensure you inform your clients and they may be magnanimous enough to extend it for you. Ensure that this deadline extension does not become a trend.

Don't allow it to affect your 9-5

The gig economy is quite flexible and as a result, many get carried away that it begins to affect their 9-5. If you do not want to make your freelance job your main source of income, do not allow it to affect your full-time job. Ensure you find a balance.