February 24, 2021
NEW MARKET... KINDA
The Microsoft-owned networking app is doubling down on what works with a marketplace for white-collar gig workers. App developers, consultants, and content creators included. And they’ve named it, uh, Marketplace.
So, the name needs some work. But the new feature is slated to replace the app’s current freelance offering (ProFinder) this fall. And in a piping hot gig economy, no less!
By December, 42M Americans are projected to be working gigs instead of full-time jobs, per Deloitte. AKA triple what it was in 2017.
Couple the rising demand with LinkedIn’s massive network (roughly 740M professionals). And Marketplace is about to take gig-work by storm.
Last year, freelancer sites Fiverr and Upwork brought home a combined $550M in revenue by taking a cut of each landed job (usually about 20%). Meanwhile, LinkedIn earned $8.8B, thanks to memberships and job ads. Not a cut of each job.
So, bets are good that we'll see freelancers flocking to Marketplace when it opens. (Meaning, more memberships, more job ads, and a lot more money heading Microsoft’s way.)
SPEAKING OF GIGS
You don't just throw your full-time employees into their role. Instead, you probably spend the first few months onboarding your new hires until they're fully aligned with your company goals and values. And then, you start them on projects.
But the freelancers don't get the same leisure. Instead, they're typically thrown into a project on Day 1 and told to sink or swim. They know little to nothing about your company. And the results can be a total disaster.
Even if everything goes fine, chances are good that your freelancer still isn't all-in on what your company is doing. That's because there's a few things they need from you, like:
PayPal CEO Dan Schulman claims consumers only really want “8 to 10 apps.” And while we're not convinced, he's dead-set on creating the first fintech super app. AKA all your money-related apps, rolled up into one. Plus, a few more benefits like:
But they already have some pretty steep competition. Namely:
That's not to say that a super app can't be done. But it's going to take a lot more than a few pennies saved to get people to delete basically all their apps.
THE REAL DEAL
Ironically enough, there’s no official SOP for writing standard operating procedures. And a lot of the time, small business leaders overcomplicate how they go about it.
But at Trainual, we like to keep things as simple as possible. So, we’ve trademarked our very own 4-step process for SOP writing that anyone (and we mean anyone) can put to use.
We’ve dubbed it: “Do it. Document it. Delegate it!” And in less than 5 minutes, here's how it works:
👉 Plus, get a full breakdown of each step (complete with checkpoints).