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'Gigging' in the new economy

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    Dr. Michael 'Woody' Woodward on why freelancing can be a career cornerstone

  • Duration 8:54
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And welcome back to foxnews.com live let's talk about the job picture and for that we're joined right now by a doctor would -- doctor Michael what we're thank you so much for joining us.

Get to -- -- that Ian and -- topic today and you have an article about it on foxnews.com.

Is about freelancing and the fact that this isn't just an option that a few people take like waitresses -- -- -- -- Artists are etc.

but -- that its actual 83%.

Of millennia holes which are those between eighteen and thirty.

Say that freelancing or digging as it's called is actually a cornerstone.

Of their career strategy.

-- and -- a look at the facts.

Right now a recent Rasmussen poll found that 89% of adults believe that college kids are gonna have a really hard time finding -- job and on top of that.

One every two recent grads under the age of 25.

Is either jobless.

Or on underemployed so that's a real issue that we have to face and so what's happening is they're turning to this idea of digging or doing freelance work.

In order to cobble together -- kind of career.

And a way of generating some solid -- so they can make ends meet so it's definitely a new trend and I think it's been coming on the last five years -- -- -- -- though you don't have any stability and all sort of benefits issue is difficult.

It's -- not easy and think of it this way essentially what this idea of digging in the new economy.

Is really about doing freelance work which is something that's been around for quite a long time.

Simply not a new idea it's just that it's becoming -- trend for kids to consider coming right out of school.

Now -- -- -- -- a lot of people for it is a 1099 contractor for tax reasons basically being an independent contractor who is going out there and soliciting.

People to use your services so anything from being.

A virtual assistant part time for someone.

To being a graphic designer the -- -- or whatever the case is -- someone is going out there and independently getting contracts.

From a lot of either individuals.

Or companies who need your service.

-- -- you have -- outlined the pros and cons for us of freelancing or digging and we're gonna talk about some of those now what -- the biggest zero.

Well it if you really truly want to have control -- really destiny that's one way to do it.

-- being a freelance individual out there and doing contract work allows you to pick and choose the type or -- wanted you typically.

But it depends on what -- Castro looks like you may not always have the choices you wanna have.

But it does give you some control over your own destiny and certainly a lot of flexibility.

In your schedule and how you want to schedule your leisure time which is important from -- now -- your work time.

The other part of it is is earning potential you really have the ability to decide.

What -- rate you're gonna set how much you wanna work as long as the work is available out there so.

Doesn't you pros and I think it can be attracted depending on your personality and if he can your willingness to get out there.

-- yeah you do have to be able to market yourself you have to be comfortable with that or it's just too hard to stand out in that crowd of freelancers.

And let's go into the kinds now you have several of those as well unfortunately.

Yes and and like I said you do it thinks it can be approach can become the first thing you mentioned as you have to get out there and market yourself so you do have to Wear many hats.

Doing freelance work means that you may not always get the opportunity to be a practitioner of your craft all the time.

-- you've got to do the marketing you've got to do the sales you've got to do your own finances a lot of times.

-- that -- stuff isn't always easy for someone who truly is a practitioner of their craft and wants to focus on doing that.

So that can be a drawback but some people also like that side -- it too.

The other -- is certainly the unpredictability.

So.

Even -- you may have controller here and destiny and -- did the stuff you enjoy when you want to the fact is when work comes in and when there's opportunities are there.

Is not always gonna be in your control so that's going to be a tough thing and it.

It's -- you -- losing you have to get used to that uncertainty that you lived through and not knowing when that next paycheck is gonna come.

And that's another part of it also is the financial.

Quote instability you don't have that regular paycheck coming in every two weeks are getting deposited.

In your account so.

That -- -- a little stressful I consider it depends on your personality in -- -- however is really you really are.

And how important is it if here -- gonna go into this fielded it on that this type of employment I should say.

Two and get on the social networking or I should say career networking sites like Linkedin.

Or Craig's list verses just maybe advertising in local Paper.

Yeah -- and you're absolutely right the big challenge is getting yourself out there and one of the assets that a lot of young folks especially the millennial generation has they really have a good grasp and understanding of social media.

Now what's really interesting there was a recent tweet my job survey found.

That a lot of young people although they love using social media for personal stuff tend to shy away from using it for.

Business purposes or for self promotion for the type of work that they're doing -- -- if they're independent contractors.

So that's a little bit of I think I hope that they got to have to get over because if you're really gonna put yourself out there.

There's a tremendous power particular -- linked in to Facebook and to Twitter.

More so I think Linkedin and Twitter if you really want to promote your services and what you do.

And get it out there because remember if nobody knows about you -- no one knows what you're doing -- what you offer.

That it doesn't matter you're not gonna get -- business so those are very powerful and certainly cost effective ways to get out.

And when it comes to things like Linkedin that one of the most important things is references.

You have to be able -- feel comfortable asking people.

To write one on your behalf you're going to posted on your -- and also -- an off day if your cell worried you have one bad day you're not gonna lose your job.

But you have to be really on your game every time you do a job so that that word of mouth is always gonna be positive and you get those references.

What -- -- doesn't -- it's really important it's that notion of word of mouth or personal referral remember.

The job market will whether it's a freelance work whether it's consulting work or -- or getting a full time job.

Hasn't always been about who you know it's always been about who you know.

So the key is using social media extends that sort of who you know network.

Beyond just your -- circles and -- people that you're in regular contact with so it's important to solidify that like you say with references to make sure that.

People are kind of working that chain of folks you know you through social media so they feel more comfortable and they say -- -- I -- patty and threw another friend of mine and I can refer them -- link them together and I believe that friend of mine itself.

I think you're right it's very important to use it -- very effectively.

On the other hand you have a lot of people who I feel uncomfortable.

With linked in for example if somebody says oh hi you know I want to I wanna list you as a connection and you have to accept or reject them.

Hard.

To actually reject someone so you could have saying tell all right -- I'll recommend you are right down that that your connection which means I endorse you and and you don't really.

Well first a lot of every problem rejecting people now and you know -- -- -- -- of those things don't worry about it it's.

They're solid they're gonna tracking down -- -- you but here's -- thing.

And it is.

-- more of an issue with FaceBook is FaceBook tends to be more personal connections and more for your own personal use so.

Think people tend to be more restrictive in their use of FaceBook -- Linkedin.

You're trying to broaden and develop a larger network.

I don't think it just because your link to someone you necessarily endorsing that individual.

And I would hope that isn't the case because -- -- if you have a lot of connections on Linkedin you don't necessarily know what everyone's doing.

Couldn't do it to the table work you're doing -- how they're doing -- or whatever so they get to be careful about that I wouldn't say that it's an endorsement but at the same time.

It is a connection usually you're only just a couple degrees separated from a lot of people that are trying to connect you see you want to do your research and make sure that.

They're connecting with the right kind of folks and monitor the stuff that they're posting this if they're posting things that are weirder how dirty your brain when you believe -- you might want to.

Jettison them from your from your world of connections if you will.

Wow we're seeing is what you had a limited.

I.

Doctor Michael Woodward thank you so much for joining us as always and again if you want to check out his article it is on foxnews.com and it's called digging which is another word for free -- In the new economy is it for you he's got the pros and the cons so thank you again for joining us.

Thanks so much.

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