BBC NewsBorrowing was £17.4bn last month, the second highest October figure since monthly records began in 1993.
Stuart Thomson looks at the growing trend of the gig economy
There can often be an emphasis, especially at the start of a career, on getting a job. That role is seen as a foundation stone for building networks and experience. But is that right for everyone? Is there an alternative? Is a more flexible, freelance approach something to think about?
My own experience is of having worked for large legal and PR consultancies for my entire career until a few years back when I was made redundant. I am not the first and certainly not the last to find the whole experience shocking and, at times, distressing. It does lead to a period of reflection.
The obvious choice would be to simply look for a new role but there are alternatives. I chose to consider those in more detail. Choices about potential next steps do not exist in a vacuum. There are always financial requirements to consider potentially alongside caring responsibilities and other commitments. Those could be to spend time traveling or exercising, issues much more focused on personal needs. There are no right or wrong approaches. It is all down to the individual, but it is always considering what your priorities are.
I already had a company set-up for the communications training I deliver so I chose to go down a freelance and consultancy route. The aim is not to build a business and employ people but instead to engage in challenging projects and work with people I like. That means my ‘gig’ approach is a mix of short-term projects, longer-term consultancy, and membership of an in-house team. Alongside this I also hold voluntary positions for a Board and delivering mentoring which is very important to me.
This could be considered a ‘portfolio’ approach with a range of different projects on the go. That is not without its complications. Balancing the needs of clients and projects means that there is no typical working day and there are no fixed hours.
If you are considering making a similar career move, based on my two years as a freelancer, I would suggest the following:
1) Talk to others who have already made the move to freelancing and chat to them about their experiences. Otherwise, it will always seem like a hugely daunting prospect. People are always willing to chat because they remember what it was like for them.
2) Get some professional advice – for me that was getting an accountant who could help me get the fundamentals of my business right.
3) Spend time getting your ‘credentials’ in place – it might be easy to try and crack on with reaching out to connections for work, but do you know what you are really saying to them? What is it that makes you different from others?
4) Materials – another important foundation would be to get a website up and running and for it to feature those clear ‘credentials’. Employers, customers etc need to see that you are serious.
5) Join networks – there are professional and work-related networks to join across sectors, nationally and internationally. Being a freelancer isn’t just about generating your own work, it can also mean working in partnership with others to deliver for a client or project. Those opportunities often come through networks.
The danger with being a freelancer is that you can sometimes feel quite isolated. When you engage with your network do not think of it as solely being about trying to generate new work, but also as time chat and not think about work. That is valuable time.
Being part of the great gig economy is not a panacea and it is not for everyone, but it is an option and maybe provides the flexibility that many are looking for. Think about the option.
See other articles by Stuart Thomson here:
Stuart Thomson on the importance of personalising your job role
