Mycro is intent on building the best platform and application that it can. We’ve taken you through exactly how we plan to do that. We’ve paid particular attention to the processes that will be going on behind the scenes to ensure we give you the best user experience we can. There is one fundamental part that we haven’t covered to date, the market that Mycro will be operating in.
Examining the gig economy
Mycro is working to build itself into the fastest growing area of the employment market, the gig economy. The gig economy is designed around flexible workers taking small assignments at short notice, workers within the gig economy are traditionally freelancers or self-employed. Although gig work has existed for a considerable amount of time, think work during tourist season in holiday destinations, it hasn’t previously been defined or measured like other employment areas.
A recent survey showed that 20 to 30 percent of workers in the USA and the EU 15 partake of work in the gig economy. Over half of them used this work as a casual second income to supplement a salaried role. The majority pursue this work as they choose and are extremely satisfied with this lifestyle. However, it is important to note that 30 percent of gig economy workers are forced into this line of work due to a lack of alternatives.
Disrupting the gig economy
Many of us would have had contact with the gig economy in some fashion. Uber, Ubereats and Fiverr are just a few examples of companies that create a quick and comfortable user experience in our everyday lives. The worker can expect a flexible work schedule from engaging with this job market although, there is a certain toxification attached to these companies.
Companies like; Uber, TaskRabbit, Fiverr, MyHammer, Foodora and others are a few examples of the centralised companies that cater to a predominately professional lifestyle. None of these companies, however, offer a peer-to-peer solution that assists individuals in enlisting other individuals to complete minor tasks.
While there are blockchain-based decentralised projects within the gig economy, none offer the same solution that Mycro does. Conventional business models do not cater to the just-in-time activities that we all face on a daily basis. People often look to their network for assistance with these tasks.
Mycro aims to digitise and monetise this analogue market utilising blockchain technology. By capturing an already existing labour initiative, Mycro seeks to create a new market that has immutability and transparency at its core.
Mycro potential in the gig economy
The numbers vary on the percentage of freelance workers that make up a countries working population, but a generally accepted average is 30%. The Freelancers Union collaborated with Upwork to produce a study that showed that 35% of the US workforce was engaged in freelance work in some capacity. As the world embraces emerging technology, we can safely presume that most region will have at least 30% of the working population engaging in freelance work.
With this presumption in mind, we can safely calculate the target market Mycro can expect in Europe, the United States and Asia. There are 234.7 million working people in Europe, meaning 70.41 million people will be in the freelance market. The US has a working population of 160.4 million, meaning 48.12 million people will be a part of our target market. In Asia, there are 1.27 billion working people meaning 381 million people engage in freelance work.
This means that in these three regions alone, Mycro has a total target audience of 663.82 million people. This is a phenomenal amount of users that fall into our key demographic!
Think global, work local
Mycro’s success will be grounded in our number of users. This is why we are currently working so hard to cultivate a close-knit, dedicated community. If no-one is using it, the seamless user experience and ease-of-access of our platform will mean nothing. For this reason, we have concentrated early on developing strategies to establish supply and demand.
Mycro is building a platform that will bring two key user groups together; job providers and workers. The usefulness of our platform is directly affected by the amount of each group that we have. As one group grows in size, the platform becomes more attractive to the other group. More job providers means more jobs which will attract more workers. More workers means a need for more jobs which will attract more job providers.
To facilitate the growth of both of these groups, Mycro will launch its platform at a local level in a city that satisfies the required structural conditions. For example, starting the platform in a city with a large number of students will create a vast worker pool that will invariably attract job providers to make use of this pool of workers.
By establishing an initial foothold in one city, Mycro will then be able to build up a pool of workers and job providers along the borders of this city, thereby spilling into neighbouring cities. Essentially, what we will see is an expanding area of operation, flowing outwards from one initial location. This will allow us to capture the entirety of this freelance market easily in one country, in this case, Germany. Once we have established ourselves in Germany, we will then be able to build past its borders into other countries, thanks to the EU’s Freedom of Movement principles.
This model can then be replicated in other regions of the world that observe similar regulations. For example, this method of disruption could be directly applied to both the US and Asia, two regions that we have already identified have a large pool of freelance workers.
To put it simply, the market is already there, and it is waiting to be captured and utilised by Mycro.
Three stage Mycro process
To facilitate the growth of our platform in this manner, Mycro already has a three-stage plan. First, we will actively acquire companies that have a permanent need for temporary workers. By allowing these companies to post jobs on the Mycro network, we will be able to ensure that early on, we will have an abundance of work for the early jobbers on the platform. By actively working with these companies, we will be able to quickly create attractive job offers that are in-line with the Mycro mission statement.
From this point of having a stable workforce, we will then be able to take Mycro to the point of need. By creating an interface for websites of furniture or hardware shops, for example, we will then allow people to create a job on our platform, relevant to purchases that they have just made. For example, someone who has just bought a carpet online will then be able to immediately post a job on our platform for this to be delivered to their house and be fitted.
Finally, Mycro will then run vast local marketing campaigns in cities that we are already active in to engage as many people as possible with our platform. This will create a shift meaning that workers and job providers will start to engage directly with us. Utilising these methods will allow us to capture the majority of freelancers and freelance work within a city.
Mycro is ready to disrupt the freelance market. We are working hard to develop the platform, and as soon as it is ready, we will begin deploying it to bring everyone's time and money into equilibrium. We’re extremely positive about the early engagement that we have seen, and we know it is only going to get better. To get in on the ground floor, follow us on the social media links below to be kept in the know about everything Mycro.