Chapter 7
Who Is In The Gig Economy?
Michael’s description of this chapter:
Give yourself permission to say YES to side jobs, gigs, projects, and part-time work
The gig economy is growing faster and faster every day. Sometimes growth comes out of intention, and sometimes it comes out of necessity. According to the International Monetary Fund, the yearly unemployment rate from 2019 to 2020 has changed. I have many friends who have been let go from long-standing jobs—jobs they thought they would retire from. I know business owners who have seen their businesses flushed down the COVID-19 toilet along with their dreams and savings. In the United States, the unemployment rate jumped from 3.7 to 8.9 per cent. From where we are in Canada, the unemployment rate jumped from 5.7 percent to a whopping 9.7 percent. That’s a lot of unemployed people. So the question is, who is in the gig economy and why?
This pandemic has caused drastic and accelerated change. As unemployment rates increase, the standard of living increases. There is a demand for some to “keep up with the Joneses” or simply stay afloat, as cash flow becomes more and more uncertain. I have a friend of mine who drives a fancy luxury car to maintain appearances for his executive job while driving Uber at night. The gig economy welcomes essentially anyone regardless of what your motive is. Companies, gig workers, and consumers all make up the gig economy.
In this chapter I dive deeper into some of the opportunities presenting themselves during this pandemic and beyond. I discuss how you can participate in the gig economy to generate additional income as well as benefit from other freelancers around the world who can work for you at a fraction of the cost.
- Pivot and expand at a fraction of the cost – Virtual Assistants
- How I pivoted: Troy Assoignon, International Brand Positioning Expert and Conversion Rate Specialist, Troy Assoignon International
- How I pivoted: Ken Doll, CFP, CLU, TEP, Certified Financial Planner at Objective Wealth Partners Inc.
Contributing Author:
Certified Financial Planner at Objective Wealth Inc.
Ken has been providing financial and estate planning solutions for over 20 years. He has worked with high net worth and ultra high net worth clients, including prominent families, NHL hockey players, executives, business owners, professionals, and farmers. He has experience with Canadians that live and own property in the US as well as Canadian residents departing Canada to become expats and Americans residing in Canada.
His industry education includes the Certified Financial Planner (CFP), Chartered Life Underwriter (CLU), and Trust and Estate Practitioner (TEP) designations, along with having completed the Canadian Securities Course (CSC) and the Canadian Investment Funds Course (CIFC). He holds three degrees from the University of Alberta in business, economics, and political science, and has completed the Institute of Corporate Directors designation (ICD.D). Ken has also served as an expert witness on life insurance matters, and conducted presentations on investments, insurance, estate planning, and philanthropy.
Ken works closely with clients and their professional advisors to identify unique financial and estate planning solutions that help them build and protect their wealth while minimizing tax. He is an advocate of holistic financial and estate planning that not only encompasses a client’s financial situation, but also considers the importance of family dynamics and sensitive issues around wealth transfer.
Ken resides in Calgary and enjoys spending time in the foothills and mountains of Alberta.
Facebook: Ken Doll | Financial Planning Advice | StickHandlingWealth
LinkedIn: Ken Doll
Twitter: @DollKenneth | @WealthCalgary | @StickHandWealth
Instagram: KennethDoll | StickHandlingWealth
Pinterest: Ken Doll
Companies: Wealth Architects Inc. | WealthArchitects.ca | Ken@WealthArchitcts.ca
Contributing Author:
International Brand Positioning Expert and Conversion Rate Specialist at Troy Assoignon International
Troy Assoignon is a rare breed of marketing and branding professionals. He not only has the technical skills to execute on your brand strategy, but also understands how to get results and make you money. His diverse skill set allows him to take on any project with ease, no matter what industry your company operates in.
He’s been in the online space since 2015, and previously ran a construction service business prior to that for 10+ years. Troy focuses on brand positioning, consulting and high budget PPC campaigns.
Troy has created various successful campaigns that have grossed millions of dollars for his clients, and has also participated in the creation of pitch decks and worked on capital raises that have generated over $4.5 million.