The gig economy is booming these days. Everyone is talking about side hustles, flexible income, and becoming your own boss. According to Forbes, freelancers now make up 35% of the U.S. workforce and that number is growing.

If you’re looking for success in the gig economy, you’re not alone. Most people are after benefits like location independence, flexible hours, and the ability to use your skills to the fullest and develop new skills.

However, earning a solid full-time income is easier said than done. Short task sites may not pay well and even if you have a lot of skills, you may find yourself constantly searching for work since you don’t have the security of an employer and stable paycheck.

I often get questions from people asking how they can go full-time with their side business idea or freelance service. Here are some steps to take if you want to make a living in the gig economy.

Choose an In-Demand Service

There are tons of in-demand services you can try in the gig economy. From babysitting and dog walking to photography, freelance writing, and VA work, you just need to narrow down your interests and skills.

The key is to choose something that people are actually paying for. Sure, this might seem like you’re playing right into the idea of having competition, but there’s often enough business going around for everyone.

Don’t think you’re going to become rich just because you have a unique service to offer. It’s important to make sure there is a market and demand for the service whether online or in your local area.

Ditch Short Task Sites After You’ve Gotten Established

Short task sites can be helpful if you’re looking to make extra money. If you’re trying to make a full-time income, however, short task sites can only take you so far.

You can only take so many surveys or write so many $5 articles on Fiverr. You’ll need to make more money and to do that, you need to offer services independent of any website that’s going to offer low-paying opportunities or charge fees that eat into your profits.

I don’t know anyone who makes a full-time income using sites like Fiverr or Upwork and don’t feel extremely stressed out and overwhelmed. You can make much more money if you set your own prices for your services.

You can use short task sites to network, build up your skills and establish a portfolio. From there, you may want to consider creating your own website where you can create packages for your services and work with higher paying clients.

Set Your Prices For Profit

It’s important to set your own prices for your service in the gig economy. Sure, you can make money testing websites through UserTesting.com, but you can’t scale that income. Therefore, you probably can’t make a living doing that.

You want to have your own independent service and set prices for profit. What does this mean?

Setting prices can be difficult for some people. Either they charge too much or fear no one will work with them and charge too low. You want to price for profit because it ensures you’ll have some money left over to grow your business.

When you’re determining pricing, factor in your skill level along with the benefits clients would have a result of working with you. If you can make someone’s life easier, they’ll be more willing to pay you what you’re with.

Then, consider expenses you may have to cover your overhead, taxes, and unpaid admin tasks needed in order to keep things running smoothly. This will allow you to determine your absolute minimum rate. Then, you can raise it accordingly to ensure there’s room for extra profit.

Pricing for profit is smart because it means you’re not working 24/7 and you’re still making enough money to cover all your expenses and stash something away for the lower earning months if income fluctuates.

Start With One Quality Client

It all starts with one quality client. Make sure you specify who your ideal client is and market well to them. Pitch them your services by doing a discovery call or setting up a trial run so you can demonstrate your skills.

Most people are focused on building fast and obtaining as many clients as possible. If you provide value to your one client, you’ll make a more lasting impression so you can secure their business long-term.

From there, you can ask for referrals from their network so you don’t have to pitch as much. I have a friend who built her entire service-based business thanks to referrals.

It takes a longer time to grow your business in the gig economy this way, but it’s worth it. It took me 18 months to build up my freelance business to start generating a full-time income so I could quit my 9-5 job. Two years later, the business is still rock solid because it was built on a foundation of quality service and clientele.

You can do the same but it all starts with pleasing that first client so you can start to build momentum.

Have you ever thought about taking advantage of the gig economy and building a side business? What actions are you taking to create a full-time income stream?