Business Book Summaries

With the American economy still recovering from the recent recession, many people feel trapped in unstable employment with shrinking prospects. The search for financial security and deeper meaning has created a rising interest in side-gigging, the practice of developing second ventures in addition to regular employment. With the Internet, social media, and digital solutions creating new and varied opportunities to connect with potential clients around the globe, side-giggers are living in a golden age of low costs, high potential, and incredible impact. In The Economy of You, Kimberly Palmer explores the phenomenon of side-gigging by analyzing its popularity and demonstrating its vast appeal and potential for success. Weaving her own personal story together with the testimonies of other passionate side-giggers, Palmer offers a roadmap to building a successful side venture and taking control of “the economy of you.”

Palmer presents several tips and tricks to unravel the mystery of a successful side-gig, including:

• Giving a compelling reason for creating a side-gig. Many successful side-giggers have a single event, experience, or motivation that drives them toward alternate and additional employment. Having an overarching theme creates energy and clarity of focus.
• Having a plan. As with any major effort, plans are incredibly important for a potential side-gig. Palmer advocates breaking down the processes of creation, formation, and operation into small, manageable steps that follow logically after one another.
• Taking advantage of the wonders of technology to cut costs and raise funds. The Internet allows potential side-giggers to accomplish a lot for relatively little. Additionally, expanding the reach of an idea and tapping into different forums can create allies and uncover potential funding sources.
• Connecting with like-minded people. Allies are important, especially in the fluid and often confusing world of the side-gig. Palmer recommends that people establish connections and meaningful relationships with others who are engaged in the same pursuits and passions to channel inspiration and receive helpful advice.
• Building a brand. A powerful personal brand is a must for successful side-giggers. They must build strong reputations to better promote their side-gigs to wider audiences.
• Remembering that “time is money.” Successful side-giggers balance the demands of multiple jobs and their family and personal lives by actively creating time for each activity. Waking up early, consolidating activities, and creating space in between scheduled events can greatly increase productivity.
• Keep trying. In a new and uncertain side-gig environment, failure is a rite of passage to greater experience and stability. The key to success in the side-gig economy lies in how proponents respond to failure.
• Giving back. Many side-giggers derive a great sense of satisfaction from hiring others like themselves or devoting their energies to social causes. Participating in meaningful activities creates a “ripple effect” of positive outcomes.

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