[Fin Talk] Freelance & Entrepreneurship Revolution
By Arlyn Tan
A year and a half had passed since the March 2020 community quarantine started. It has posed a lot of cash flow challenges to individuals and families because Covid had displaced and created work and enterprises. Freelance work and entrepreneurship became popular alternatives for the new grads and those displaced from work.
At this time, I hope that many have pivoted because the definition of the new norm may be constantly changing because of the economic disruption secondary to the mutations of the virus.
The acceptance of remote work because of tech, preference and data sharing capabilities has led to the popularity of freelance work. Upwork, Remotasks and Freelancers are examples of sites that match the demand of talent and supply of resources.
Based on the Freelancing Hacks, these jobs had been allowing individuals to earn the most in the freelancing industry.
1. Programming and Software Development
2. Social Video Marketing
3. Web Design and Development
4. Content Marketing and Writing
5. Graphic Design
7. Video Editors
8. Social Media Managers
Upwork is an American marketplace which aligns the goals of clients with that of the talents. The global platform enables businesses to get distributed expertise, and savings from this new way of sourcing talents. Its value also lies on the rating of clients and talents. The sectors that Upwork specialises include development and IT, design and creative, sales and marketing, writing and translation, admin and customer support, finance, and accounting.
The pay for the skills is on an hourly basis.
For the non-digital natives, entrepreneurship can be the way to go.
These are examples of entrepreneurship :
1. Create Content for YouTube. Youtube pays you based on the number of views the videos received. To be accepted in the YouTube Partner Program, one needs to reach a balance of $100. The rate of one view ranges from $0.01 to $0.03. A Youtuber can make $18 per 1000 views.
2. Create Products and Sell. Baking and cooking which started as hobbies can become entrepreneurial activities. Through the viber chat groups, you can target the community and the neighborhood.
The resourceful business owner can earn through great product, customer service, high volume and loyal customers.
3. Buy and Sell. This is the traditional trading activity where you make products accessible to the manufacturer’s target market. The service level of the middleman will create loyalty and lead to profitability. Social media has become enablers to increase the reach of your product.
The entrepreneur earns by adding margins to its cost for developing relationships and efficient logistics.
4. Earn via Affiliate Marketing. This type of marketing allows the affiliate to earn commission for marketing another person’s or company’s products. The affiliate incorporates links in a blog , youtube channel, website, email list, social media page. An affiliate can either be paid per sale, per lead, or per click. The common types of affiliate marketing channels are influencers, paid search focused microsites, email lists, and large media websites.
People are always finding ways to get rich in the shortest time. This is because of the hype on entrepreneurs who make millions in a short time. Behind these stories is the hidden message that hard work is an essential ingredient to reach the pinnacle of success.
Don’t try to chase careers because of the story that you hear. If you want to build a regular income either through employment, free-lance work, consultancy, or entrepreneurship, choose to do work that makes you wake up early in the morning and excited throughout the day. These will allow you to reach your full potential as a freelancer and entrepreneur.
Arlyn Tan is a Strategic Wealth Consultant. She helps individuals and organizations on how to maximize the value of their money through risk, health & wealth management. Her mission lies in making sure that clients achieve 3 things. First, they reach their milestones on time with sufficient resources. Second, they protect them from the impact of economic losses secondary to unexpected events. The third and most important is that they enjoy meaningful and balanced lives.
LinkedIn/Twitter: Arlyn Tan