How to Evaluate Your Work in the Gig Economy

The Gig Economy: it’s sexy, liberating, and scary. So how do you know if you’re doing it right?

I recently went through this three-step exercise with a client to create a clear understanding of how she is currently spending her time and effort and shift to spending if more effectively.

1 – Establish Clear Career Objectives.
We have to identify objectives for so much of our traditional full-time work; don’t give that up when you transition to Gig work. Some Career Objectives that may have you shifting to Gig Work could be location independence, work you are passionate about, additional income while starting your business, or reduction of hours working.

Keep these objectives front and center through this exercise.

2 – Create a List of each Gig with your pay information.
Pay. Your pay may be a flat fee or hourly rate.
Time. How much time do you actually spend to earn this money? Consider unpaid travel time, how often you wake up in the middle of the night with racing thoughts, preparation time before a meeting, completing time sheets or invoices. My former manager in my agency life would ask, “If you weren’t on this project, what would still be doing this (driving, prepping, etc)?” Consider how much time you are spending if this is ongoing work. While you can include any upfront costs of sales efforts to get this Gig or administrative work; I generally look at those at sunk costs. I consider them in my annual analysis but not in this snapshot.
Actual Hourly Rate. Divide Your Pay by your Time.

3 – Identify a Value for each Gig.
Value. On a scale of 0-10, how much value do you receive from this work? Your cost is the more qualitative side of your Gig. Value can come from your passion for the job, whether you are building foundational content that can be resold or reused if this Gig gets you closer to your goals, and any other considerations while thinking of value?
Considerations. Is there anything else you can to note about this Gig? All the factors will roll up into the score you select for value, but this is a pause point for you to get out anything else that is on your mind about this Gig.

4 – Visualize Your Gigs on a Scatterplot
Whether you use excel or paper and pen, see where your Gigs land.
The X-axis: Your Actual Hourly Rate
The Y-axis: Your Value Score
This Scatterplot will show you your High Pay, High-Value Gigs. How do you do more of that? Should you stop any of the Low Pay, Low-Value Gigs? Can you adjust your expectations and stress for the Low Pay, Low-Value Gigs to remind yourself these are temporary and helping pay the bills for now while making your energy is going to grow your High Pay, High-Value Gigs.

The Gig Economy is varied and messy. There’s not one path where you are solely doing your High Pay, High-Value Gigs. Having clarity and awareness of your current situation is essential. And be deliberate in moving towards your goals in the future. If you are stuck on this exercise and want to complete it together or if you finished this exercise and want to create a plan to move forward, contact me for a 1:1 Coaching Session.

Photo: SELF Journal by Best Self Co.  Check out their amazing tools.  Use code BGSDSelf to get 15% off your order!

4 Lessons from a High Performing Team

“Teamwork doesn’t seem like work.” Early on in my career, a friend used to say this all the time usually while playing teams in Halo. But it has become one of my top 5 sayings while working on teams. Probably because people find is so cheesy they can’t help but smile when they hear it.

It seems almost everyone is on a team at work. I’ve had the great fortune to be part of several great teams. There is one team that has stood out for me in my career. We were a high performing team, and it was fun. Years ago, I was in a focus group on high performing teams. While the facilitator was asking questions, I was able to reflect on how special it is to be a part of a top performing team. Here are a few things that I learned.

Respect: when developing a team, start with the confidence that every team member is here for a reason. There is something you can learn from them, and they can add value to the team.

Shared Goal: our shared goal was always more important than personal goals or roles. We were four people working together to solve X. We all had valuable skills and knowledge to contribute to the shared goal.

Listen & Pause: we did more listening than talking and we were comfortable in the silence. Sometimes we needed to pause and allow an idea or perspective to settle. We respect each other to listen to everyone’s opinions and created a safe space for people to speak up and be heard.

Effective Communications: we provided clear status reports and action items. We didn’t spend hours on conference calls or holed up in a conference room. We connected when we needed to but gave each other time to complete action items.

What are some of the key lessons you’ve learned while being on teams?

How will you pay it forward for someone else’s career?

Who do you wish you had in your career – a mentor, an influencer, a teacher, a networker, a challenger? Be that person for someone else!

Consider a few points in your career where some gave you advice or took a risk on you. Who were they? What did the do for you? Are there people you see in your professional circles that could benefit from something similar?

Professional Women: This is a particular call out to you. How are you going to help another professional woman break the glass ceiling or get off the sticky floor?