Winapster Logo


World Economy

World Economy – What Is the Free Economy of $1.2 Trillion

29% of employees say they will resign if forced to return to the office. But the World Economy is a deeper force than remote working that you need to know the independent and independent economy. Over the next 5 years, more than half of your talent will choose self-employment. Of those who remain dependent, a good amount will be side-independent. Are you ready for an independent and independent economy?

Freelance World Economy

An independent economy is a technological revolution in how we do the work. In 2011 Marc Andreessen stated that Software eats the world. An independent economy is the result of people eating software, agencies, and independent contracts. As a term, the free economy is grouped into the concert, passion economy, creator economy, and more, but at its core, the independent economy is independent contract work facilitated through digital tools and the transition to the cloud. The free economy is fueled by three interruptions in technology.

  1. The internet has made it possible to connect with anyone in the world.
  2. Remote tools made it possible to work with anyone in the world.
  3. Workflow tools (contracts, payments, project management) have enabled freelancers to perform scalable and profitable tasks for one person.

The Main Stop Is to Connect Directly With the Talent

Outsourcing is nothing new. Big tech companies like Google are already largely “Contingent.” but historically, outsourcing has come in handy for consulting firms and consulting firms. The break in the free economy is that you as a leader can go straight to talent. Instead of going through an intermediary (agency, staffing company), you can connect, communicate, collaborate, and collaborate directly with a freelancer anywhere in the world at the touch of a button.

As Hansell Shook, executive and venture capitalist, told me, group training is essential for companies. Hiring talent for specialized parts of the team makes sense. But wasted money and time Getting a bad hire can make outsourcing not worth it. Especially on major projects. However, if you can see the whites of their eyes working directly with them, you can reduce the chance of poor intake.

Resolving this dynamic verification and relationship will guide the company’s transition to modular work, which I think is the future. For example, do you need to connect better with your customer? You can start working with Kemal Avdovic. In seconds. It can help you with the placement of your brand and your presence on the web. Kemal is based in Bosnia but works with clients around the world.

With billing software such as FreshBooks, contract software such as PandaDoc, email, and Google Drive, Kemal can escalate its sole proprietorship to compete directly with your traditional partner company (in most scenarios it will be faster and more economic).

The Independent Economy Moves From Concert Work to Big Work

The free economy in its current form began around 1998 when the alliance was founded. Elance merged with Desk in 2013 and became Up work in 2015. Since then, the independent World Economy has had significant results:

  • IPO Up work (UPWK, NASDAQ) in 2018.
  • Microsoft has created the Microsoft 365 freelance toolkit to allow customers to hire freelancers on a large scale in 2018.
  • (FVRR, NYSE) IPO in 2019.
  • Freelancers contributed $ 1.2 trillion during the Covid pandemic.

But the biggest change that is underway is the transition from the Concert project, which is based on transactions to large Core to business. Tim Sanders, Upwork’s VP of customer insights called it the transition from concert to big business. Human cloud has highlighted a North American motorcycle maker working with more than 25 freelancers to digitally transform the rider experience. Independent product managers, designers, developers, and Bluetooth engineers are distributed and collaborated worldwide on a multi-year project that has led to a mobile application with more than 150,000 downloads and a 5-star rating (with more than 8,000 reviews).

Jesse Chambers, former global premium content strategy leader at Verizon Media and VP of monetization at AOL, told me how freelancers allowed his new workforce handbook to start with 100+ pieces of original content thanks to hiring 20+ freelance writers and 10+ freelance writers. Copy authors.

  • For Jesse, hiring freelancers allowed efficiency, flexibility, and access to specialized skills.
  • As he said, Efficiency has been real for us and freelancers provide a durable, adaptive conveyor belt for content production.
  • More than quantity, the self-employed also provided a quality advantage as he told me hiring freelancers helps us find people with specific areas of expertise. For example, Sarah Archer a digital nomad who created our own remote books.

Independent Finances Will Not Be the Future

In 5 years, we may stop using the word Freelancer and refer to freelancers like any other employee. As Jon Younger pointed out, the gap between traditional employees and the self-employed is shrinking rapidly. Similarly, the ability to hire freelancers is expanding rapidly. Freelancers do not replace employees.

They enhance the impact that the employee can have. Thus, instead of being a freelancer or employee, the development of the independent World Economy leads to the mix of employees and freelancers doing the job. We can call it a hybrid workforce. What begs the last question, how will you perform in the hybrid workforce Stay tuned In the coming weeks, we will learn how to integrate freelancers into the restart program, as well as learn from top freelancers how to work with them.

Leave a Comment

Your email address will not be published. Required fields are marked *