Week of October 18, 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.

How to master the most important skill you need as a freelancer (click for article)

Thoughts:?A great article on negotiation as a freelance consultant. I have a couple of thoughts on this article as it relates to real world application after negotiating and placing hundreds of consultants over the past 10 years. In the freelance space, the client demands can be broken into two buckets: 1) Backfill and 2) Project. When a client needs to backfill a specific role, negotiation is going to be a bit tougher since they are simply thinking in lines of the cost to employ this position. As a result, you should expect the rates to be in line with the position you are filling with a slight premium. For Project roles, there is more room for negotiation and you should be focused on helping the client quantify the return on the investment of bringing you on board. If you can help them see bringing you in will save them $200/hr over the course of the project, going for $125/hr doesn't sound unreasonable. Going for $125/hr off the bat may bring sticker shock and lose you the project. I would bookmark this article for future reference if you are an independent professional.

C-suite agenda: a new paradigm for workforce (click for article)

Thoughts:?I thought I'd share a wonk-ier perspective on what the future of the workforce may look like with the growing acceptance of the freelance economy. This article does a great job of helping the reader see that jobs are a compilation of tasks to be performed and how to assess these tasks through the future of work lens which will include wholesale or partial outsourcing to the independent workforce. If you are a traditional worker reading this article, you may want to think about the core purpose of your role and what ad hoc tasks may be outsourced in the future. I like to think every job should have some slack built into for workers to take on unforeseen demands on the business and it would be a welcome scenario when traditional workers could offload non-essential tasks and stay fresh for when these challenges/opportunities arise. If you are a freelancer reading this article, you may want to think about the core skillsets you bring to the market and how to fit them into organizations that may be looking to outsource in the future. This article is well worth the read.

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.

Keep your channels informed on a frequent basis.

As a refresher, you should have both ACTIVE and PASSIVE business development channels going at all times as an independent contractor. ACTIVE are those under your direct control where you are interacting with clients firsthand or via direct networks PASSIVE channels are through intermediaries such as recruiting/staffing firms, digital marketplaces, or traditional consulting firms.

If you would like to keep a constant flow of work coming your way, it is imperative to keep your channels informed of your availability and what you are doing. By doing so you are helping them position you in the market with future clients and referral partners and will generate a constant flow of work.

Make it a monthly habit to share your current situation with your key channels and watch your system work for you.

Fulfilling story of the week

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

These 30 Life Hacks Have Saved People Up to Four Hours Every Week Around the House (click for article)

Thoughts:?When you dive into the independent worker world you quickly realize your work days can be a bit all over the place and time is your most important asset either for 1) Billing or 2) Catch Up. This article shares some informative (and fun) tips on how to get more hours back in your column. Happy billing... :)

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.