Whether you want side income or are dreaming of quitting your day job in favor of more flexible work, the gig economy is an attractive option. With promises of setting your own schedule and deciding for yourself how much you earn, the gig economy offers perks that office workers dream of. However, getting started in the gig economy is more complicated than logging into an app and earning cash. If you want to make the gig economy work for you, here's what you need to do.

Find an entry point

There are several ways to work in the gig economy. One popular option is to sign up with an on-demand service such as Lyft, TaskRabbit or Shipt. On-demand services are the fastest way to get started in the gig economy because the app helps find clients for you. However, some services charge considerable fees in exchange for that convenience, which quickly eat into your earnings. Freelance job sites are another avenue for finding gig economy work, especially if you prefer desk work over working on the go. Upwork, Fiverr and Freelancer are just a few of the many websites you can use to find freelance gigs online. Because clients have their pick of freelancers on these sites, expect to start small and increase your earnings as you build your portfolio. If you have an established skill set and the resume to back it up, you may be able to skip the middleman and recruit clients directly. This is the hardest path to finding work in the gig economy because you have to do your own outreach and marketing, but it has the potential to be the most lucrative .

Find a place to work

Unless your gig keeps you on the go, you need a place to perform your business. Rented office space is expensive and the novelty of camping out at coffee shops wears off fast. If you have the space, create a home office instead. When setting up your home office, don't just set a desk in your living room and call it good. You need a space that's free from distraction, and if you're seeing clients at home, it needs to look professional, too. Find an area away from the main living spaces to minimize outside noise. A
room in a finished basement or detached garage are great options, especially if they have a separate entrance. Furnish your space with a desk, an ergonomic office chair and storage solutions for business files. Depending on the nature of your work, you may want to set up a separate phone line for your business. If you take business calls through your cell phone, set up a Google Voice number so you're not handing out your personal phone number to customers. Lifewire explains how it works.

Find a system

Ditching the 9-to-5 for gig economy work gives you a lot of freedom, but you still need structure if you're going to make it work. It's important to establish working hours for yourself, both so clients know when they can contact you and you can meet income goals without scrambling at the last minute. You also need a system for tracking income and expenses related to your work. When you work in the gig economy, you're responsible for reporting and paying your own taxes. If you fail to do so, or report your income incorrectly, you could be hit with a hefty bill when the IRS catches on. Keep track of how much you're earning so you can remit tax payments quarterly and track receipts so you can deduct expenses when filing taxes at the end of the year. The Balance recommends some apps to simplify your business accounting. It takes time to get everything set up for your gig-based business. If you're currently employed, resist the urge to quit your job and dive headfirst into the gig economy. By starting your gig-based business while you're still holding down a job, you can get set up right and build slowly, thereby eliminating much of the risk associated with gig economy work. And, if you don't have another job? Go ahead and dive in to see what the gig economy can offer you.

Article Submitted by Lucy Reed