Millions of people, throughout the world are embracing a new way of working and developing non-traditional income streams. Their purpose: Enhance the quality of their personal lives and the quality of life for families and loved ones who depend upon their efforts. Those embracing flexible work opportunities in any of its formats, and those who are becoming the new breed of microentrepreneur, are in pursuit of becoming the architects of their personal destiny. They are leveraging, or seeking to leverage, all or some of their assets in additional to engaging traditional income earning opportunities. Assets can be tangible or intangible. Assets can be physical such as homes, cars, tools, space that you own or control. Time, knowledge, education, skills, experience, and personality traits such as attitude, kindness and a desire to serve others can also be assets. Those who are taking advantage of new possibilities and opportunities to develop new income streams by leveraging underutilized assets to gain more control of their lives and their income represent a new breed of micro entrepreneur.  

When underutilized assets are leveraged to create new income, we refer to this type of activity as LEVERAGE. When LEVERAGE is embraced, it becomes an accelerator toward goal achievement such as being able to save more or invest more. LEVERAGE can also be used as an equalizer when current income needs to be complimented by other income to offset inflation. LEVERAGE is also a process of understanding that we are not confined to “one thing” in our pursuit of work, career, happiness, and peace of mind. LEVERAGE is a possibility for everyone regardless of age, past experience or inexperience.

Gig workers and micro entrepreneurs have decided to bet on themselves. They are incorporating the concepts of LEVERAGE. As we have researched and studied the gig economy over the past four years, we find it interesting that 69% of those participating in the gig economy now work multiple gigs (results from primary research first conducted in October 2021). Technology and its effectiveness enable the ability to work more than one gig if one desires to diversify how they invest underutilized time. Gig providing companies use technology effectively. The digital platform negates the need to depend upon a physical facility. Those who freelance their underutilized assets are not constrained by geography or time zone because the digital platform is open 24/7. Therefore, those who engage gigs can usually work from anywhere or engage work that they schedule in accordance with their personal schedules. Flexibility and freedom in how the work can be done is decided by the worker/new micro entrepreneur.

For more information on the gig economy, you may find our book to be a valuable asset.

Article contributed by
John T. Fleming,
Author — Ultimate Gig

John T Fleming, a white man in his 60s or 70s wearing glasses and a dark blazer jacket