The trend in recent decades has been to ever-more flexible working contracts – be it gig economy, independent consultants or the freelancing/project-based work that sits in between. Gig-ers have a company app to engage and pay and indies a company around them. Freelancing et al have always been challenging to administer for both the buyer or seller of labour. However Fintech is changing all this and Underpinned is leading the charge.
Naturally in a world where governments continue to destroy businesses when the CDC data shows that the fatality rate of covid19 is nothing out of the ordinary it is highly likely that you or someone you know may have to take up smaller chunks of work than they ever would in the past.
Equally it’s likely that your Company or one you know will have to engage folks on ever-shorter projects.
The key to facilitating a more flexible labour-market is to smooth the whole process.
All these topics and many more are discussed including:
- Albert’s name and complex heritage
- Albert’s focus from age of 3 to Royal Ballet School to entrepreneur
- how the idea for underpinned emerged – solving known problems for emerging artists – the most creative people who have great problems with their admin
- what does “The Science” mean, Albert happening to have done a dissertation on the topic
- modelling FS to viruses – the mismatch between it and reality which is all too often completely forgotten to disastrous effect, 2008 and 2020 being prime examples
- 15% of the economy is self-employed – 30% of it in the creative sectors who will work project to project – generally much less than 6mts at a time
- examples of a documentary project on butterflies of the Hindu Kush where you need a whole bunch of folks just for the project and trying to wrap all that in a company is far too much trouble for a couple of weeks work say
- journalism a prime example – most MSM journalists in UK newspapers are freelancers paid per article – very complex admin
- huge overhead as a percentage of the $value – for both the sellers and buyers of such labour
- micro-businesses as another example that falls into this segment
- agencies use a lot of freelancers
- companies who are furloughing staff are looking to freelancers to fill in gaps left by their permie staff
- how does the market work connecting supply and demand?
- fiverr as a marketplace
- need to build networks for both sellers and buyers – the (1) “Find work” part of underpinned
- the necessity to reduce friction around project-based work
- underpinned’s educational resources to help folks understand the admin process
- (2) underpinned’s “manage” the process – pitching, contracts, IP – all challenges
- (3) “getting paid” – super laborious to pay dozens of freelancers for tiny pieces of work as that in a normal company is a cross-silo activity involving accounts, legal, line manager etc etc
- how new businesses will cross various xTech sectors – “pure” Fintechs will get less standard as Fintech will become a part of overall offerings
- businesses looking for more flexible forms of working and more employees forced into different forms of working
- trend to using workflow tools
- Underpinned offers a single-subscription virtual environment where you can manage the whole process
- for freelancers it’s a virtual office
- for clients similar including payments
- releasing invoice service as an app – with magic links and QR codes
And much much more 🙂
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