Week of July 19, 2021

The term "Gig Economy" encompasses approximately 60 million workers in the US alone ranging from Uber drivers to interim executives. The vast majority of media and research is focused on lighter skillset gig workers often through a lens of what it means for the hiring companies.

This weekly newsletter is different for two reasons... First, it focuses on higher skillset independent workers defined as 15+ years career experience with target earnings of at least $80,000 per year. Second (and most important) it focuses on the WORKER'S perspective.

It is my firm belief that as we move into the "Future of Work" more and more control moves to the talent's side of the ledger vs. the employer or intermediate parties. I seek to empower you, the worker, with the tools, knowledge, frameworks and ideas to THRIVE in your careers as independent professionals.

Welcome to the Independent Professional Weekly!

Market News

Each week I will share relevant articles and my thoughts on why they are important for independent professionals.

Pandemic have you wondering about a long-term career as a freelancer? Here are some things to consider. (click for article)

Thoughts:?A timely article as we move further away from the shock of the pandemic into a newer normal from a work perspective. I especially love the idea of asking "why" you are doing independent consulting work. In my experience, if you are doing anything for reasons outside yourself, it is going to be a short lived, low fulfillment venture. Taking time to understand what drives YOU (not the recruiter/company calling/convincing you) before moving forward full force is a must for all workers. The balance of this article highlights some of the basics of going independent (setting rates, benefits, bench time, etc) which are all important items to consider when going independent. At the end of the day, the two reasons people LOVE going independent are 1) Flexibility and 2) Variety. Something often left unsaid is careers are longer than one thinks or articles may lead you to believe. If you go independent today for lifestyle reasons, you are always going to be able to get back in the permanent employment game down the line if absolutely determined. Take time to find your "why" and move forward accordingly.

Freelance lawyers offer small law firms a way to scale up (click for article)

Thoughts:?Psssst... I am going to let you in on a little secret... This phenomenon has been happening for a while now in: Finance, HR, Accounting, IT circles where solo practitioners leverage contract workers to scale their businesses until they can afford to bring on permanent workers if that's the path they choose. I love this strategy if your personal goals as an independent are to eventually build a firm. This article has a great interview with a solo practitioner who built a bench of independents over time to meet client needs. A key thing he states is "I am not gunning for the biggest kinds of projects, like a high-profile IPO,” which is good because no client would hire them for this. You need to understand how your skillset interfaces with the market to understand your target engagements if you really want to make it as an independent. Great article!

Business Development Tip of the Week

The biggest fear of independent professionals is finding the?NEXT?gig. In this section I will share a tip of the week to help you find your next gig FASTER.

"You don't get fired for hiring IBM"

This statement is quite common in big company water cooler talk and sheds a light on a topic independents should think hard about. Clients are coming to the talent market for independent talent to solve their immediate needs. Two projects can be similar from a complexity perspective and you may be able to solve both clients' issues, but if one of those projects has higher risk as perceived by the company or hiring manager, don't be surprised if you lose to a big name firm even though you could save the client thousands of dollars. When your hiring manager is thinking about their career, they will often go with a bigger name firm to mitigate the downside risk to themselves if something goes sideways... Their boss/board will ask "Who helped you with this?" to which they can say "Big name firm" and offload the risk... If they say "Joe & Jane Freelance Co" the hiring manager is going to risk losing credibility and even their employment. It is KEY to quickly understand where your hiring manager sits on this risk spectrum before spending unnecessary time pitching on a project.

Fulfilling story of the week

The world needs more positive stories and these have an independent flair...

More Americans Now Consider Themselves to be ‘Thriving’ Than at Any Point in 13 Years: Gallop (click for article)

Thoughts:?I am an amateur stat nerd and love to see some positive trends in the news related to living a full life. With so many ups and downs over the past year on a human level, it is my hope that it gave humanity a bit of time to slow down and challenge the way we were living making long overdue adjustments to align more with a fulfilled life. Hopefully this trend continues!

See you next week!

Roger Lumpp?spends his working hours hunting opportunities for independent workers in the Chicago market. He is the creator and host of?The Next Pro Gig Podcast?which empowers independent/freelance workers of all disciplines with the tools, frameworks, knowledge and ideas to help them thrive in their careers as independent prof.?He firmly believes WORKERS will gain more and more control over the independent employment conversation as we move into the “future of work” and is fully committed to helping aspiring, new and tenured independents maximize their go to market strategies to find their next gig, FASTER.

Opinions expressed are my own, all rights reserved.