The gig economy is dying
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The gig economy is showing signs of slowing down. Transactions on food delivery apps have declined slightly in recent years, and companies like WeWork and Uber have seen slowing revenue growth. However, increased spending on home goods and streaming services during the pandemic has offset some of the slowdown. As we move into 2020, the forecast is for less business for gig economy platforms and more small startups focused on niche markets. To start a successful first company, entrepreneurs should build on their expertise, thoroughly research the competition, and ensure they have adequate funding.
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The gig economy is dying
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- 3. 3 Get Your Free Business Consultation at paulbarrongroup.com/contact
- 4. The Gig Economy Is Dying
- 5. The Signs Of A Downturn
- 6. Slowing Consumer Spending in luxury items
- 7. Consumption Is Holding - But New Signs Of Slowing Transactions In Food Delivery -0.07 -0.053 -0.035 -0.018 0 0.018 0.035 0.053 0.07 2016 2017 2018 2019 2020 -5.1%-6.4% 5.1%4.9% 6.5% -1.9%-0.12% 0.3% 1.7% 2.3% Restaurant Transactions On Demand Transactions Source: Foodable Labs
- 8. The Affect Of Trump - Holding Up A Declining Economy? Source: CNBC Nobel-prize winning economist Robert Shiller believes a recession may be years away due to a bullish Trump effect in the market.
- 9. The Gig Economy Begins To Slow
- 10. Food Delivery Is A Bad Business Model Model has never and will never work for operators Costs vs Benefits Control Of The Data Costs Of The System Consumer Fees Consumer Safety Concerns
- 11. WeWork Fail Slowing Revenue Growth At Uber Grub Hub Slowing Transactions So Why Is The Gig Economy Dying?
- 12. Increased Home & Grocery Transactions Mobile Streaming Penetration - 73% Ghost Kitchens Growth Less Gig Business More Small Startups What Will Be The Forecast Of 2020
- 13. If Your Looking For Strategy, Execution and Results make sure and visit paulbarrongroup.com We will be right back!
- 14. How To Start Your First Company
- 15. 15 How To Start Your First Company •Build On What You Know •Be Ready With Capital •Recon Your Competition For more Information email paul@pbg2.com
- 16. 16 Build On What You Know 1 •Be passionate about what you do •Be prepared to fail •Don't go it alone •Build traction
- 17. 17 Build On What You Know 1 •Write your business plan •Know your competition •Bring in the pros •Get the money lined up
- 18. Get Your Money Lined Up 2 •Make sure as you create your new startup you do it right way with the correct business structure (LLC or Corp) •Delaware is the place •Should you use Legal Zoom
- 19. 19 What Is a Reg D? 2 https://www.wealthforge.com/insights/regulation-d-cheat-sheet/ https://www.wealthforge.com/understanding-regulation-d
- 20. 20 What Is a Reg D? 2 To claim accredited investor status, you must meet at least one of the following requirements: • Have a net worth exceeding $1 million individually or combined with a spouse (excluding value of primary residence). • Have earned income exceeding $200,000 ($300,000 if combined with a spouse) during each of the last two calendar years. The individual must also demonstrate credibility he or she will at least maintain these income thresholds during the current year.
- 21. 21 •Make sure you have a product market fit •Understand what the real problem is •Don’t fall in love with the solution - fall in love with the problem 3 Recon The Competition
- 22. 22 • Read This Book - Competitive Strategy by Michael Porter • Know the newbies • Power of Supply • Power of Customers • Threat of Substitutes 3 Recon The Competition
- 23. If Your Looking For Strategy, Execution and Results Visit paulbarrongroup.com
- 25. 25 •Always developing •E-commerce Ready •Plugin Ready •Mobile Responsive •Build it beautiful Get Your Website Up To Speed
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