For the past couple years, the gig economy has been largely synonymous with drivers, pet sitters and handymen for hire. However, that is poised to change in 2018.
“We’re going to see a shift away from the focus on Uber and Lyft to the higher end of the market,” says Arun Sundararajan, a business professor at New York University and author of “The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism.”
While there will still be a place for unskilled work on demand, the gig economy is evolving to offer opportunities to professionals who, in the past, seemed unlikely candidates for a side hustle. Consider these seven gigs that could be big in 2018.
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Data analysis. Marion McGovern, author of “Thriving in the Gig Economy: How to Capitalize and Compete in the New World of Work,” expects to see major growth in the websites and apps available to place specialized workers into gig assignments. “My money is on the niche players,” McGovern says. Niche sites like Experfy connect businesses with on-demand services related to big data, analytics and artificial intelligence. Thanks to these platforms, data scientists and those with experience in emerging technologies will likely see plenty of opportunity to sell their services in the gig economy this year.
Lawyers on demand. Lawyers are another group being afforded the chance to make money on the side thanks to the gig economy. “I think a lot of people are surprised when I say law,” Sundararajan says. “You think of this as a staid, full-time profession.” However, online platforms like UpCounsel allow lawyers to provide a variety of legal services on demand. Sundararajan sees the gig economy heading in a direction to allow professionals to create their own businesses and market them entirely online.
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Executive coaches. McGovern says businesses being run by millennials and young executive teams may be lacking the institutional knowledge and skills that come with more senior workers. “We might see the notion of seeding some of this expertise back,” McGovern says. She expects seasoned business professionals to find positions serving as executive coaches or consultants for young managers.
Accountant consultants. Accounting doesn’t traditionally get associated with the gig economy. “It doesn’t necessarily conjure up images of forward thinking and entrepreneurialism, but it really is,” says Jeff Thomson, president and CEO of the Institute of Management Accountants. He says that’s particularly true for management accountants who are often involved in strategic planning and forecasting.
Freelance public relations. Not every business can afford to hire top public relations firms such as Edelman or Ogilvy. However, smaller businesses and entrepreneurs still need to cut through the noise of a crowded marketplace. That means the market is ripe for PR professionals to enter the gig economy. Offering PR services as a side hustle can be a win for professionals who feel burnt out by the fast pace of big firms. “They want a different model of work,” Sundararajan says. Watch for new gig economy platforms for PR professionals to debut this year.
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Online tutorials and classes. Many online tools are a natural fit for teaching, such as video chat applications and multimedia software. Sites like Udemy and Skillshare have emerged to let people sell their expertise. Look for more to enter the field as people discover they can sell their knowledge as a side hustle.
Virtual assistants. People have long looked to outsource daily tasks to others, whether that means cleaning their house or delivering their groceries. The next big side hustle could involve managing more personal tasks. “Individuals are the biggest purchasers of gig services,” McGovern says, and virtual assistants are among the workers providing on-demand assistance. They are employed to sort emails, make phone calls, set up appointments and do other tasks remotely. The demand for virtual assistants could be even greater as people look for more ways to free up time in their busy lives.
The upcoming year will continue to see demand for Uber drivers and the like, but you don’t have to chauffeur strangers if you’re looking to make some extra money. The next big side hustles are likely to be those that make use of professional skills and education — no commute required.
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7 Side Hustles That Could Be Big in 2018 originally appeared on usnews.com
