Market Problems
The current market dynamics aren’t sustainable and individuals are taking action and leaving the soulless rat-race. It’s estimated that by 2027, over 50% of the US workforce will be freelance (here). As an emerging trend, 58% of Gen Z are freelancing (Upwork). This has been catalysed by the recent global pandemic. The top people have realised office work restrains their freedom and makes them ineffective. In 2021 a record breaking 5.4m businesses were formed in the US (NPR). Billion dollar companies can be built from a beach in Bali, a home office in Delaware or a co-working space in Lisbon. Driven entrepreneurs and freelancers are joining forces to build the next wave of startups.
The fact that top talent are taking control of their lives by becoming freelancers neatly fits into a proven model for taking new ideas to market in the startup world. Startups need creative strategists to navigate the early stages of product-market fit. Then a team of specialists to scale up the commercial model and find new channels to market. Various experts and skillsets are often needed along the way, for project-based work. It no longer makes sense for founders to employ these people full-time. It makes sense to work with a collective of people as and when needed. But you still need to incentivise them to do a good job and commit to the cause.
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