We are in the midst of a job revolution due to industry change and rapid development of technology. Exponential technologies like AI, robotics and automation are predicted to replace many jobs and new inventions will make old technology obsolete. The McKinsey report states that 15-30% of jobs could be displaced by 2030.
However, this does not mean that jobs will disappear completely; They will be replaced by new jobs in new industries. In addition, the structure of “work” will change. Actually, it has already started. With “gig economy” jobs, such as driving for Uber or delivering for Instacart, traditional full-time employment is becoming less of a norm for both employers and employees.
This means that regardless of the industry you currently work in, it would be prudent to pay attention to changes in the market and where your industry is headed. Many will need re-equipment to transfer their skills to new industries as the old ones fade away.
No need to panic though; We’ve been here before. And with each new wave of innovation, outdated technologies and industries have collapsed. But every time industries have died, new ones are born.
Electric refrigerators disrupted the ice industry. The gasoline automobile replaced the horse and buggy. In the same way, robotics are automating jobs that people once had, and smartphones have replaced the need for CDs, newspapers, books, magazines, cameras, calculators, GPS, and more.
Our grandparents’ generation tried to hold 1 job in their lifetime. Our parents probably changed jobs several times. Today, it is unusual to hold a job for more than 10 years. For our kids, they are much more likely to hold multiple jobs or gigs at once than in a full-time, long-term position.
So what does this mean for you?
We believe this means that no matter who you are, now is the best time to start learning how to play the entrepreneurship game.
In fact, we believe that self-employment is the ultimate form of empowerment!
“Entrepreneurship is about turning what excites you in life into capital, so that you can do more of it and move forward with it.” – Richard Branson
Even if you don’t aspire to become a full-fledged, self-employed business owner, starting a side hustle is one of the best ways to capitalize on the opportunities of the growing gig economy and new trends in the market, An industry that is disrupted while minimizing your risk.
Take your financial security into your own hands. In an uncertain economy, the worst-case scenario depends on a paycheck from a company that could quickly become obsolete. Sure, you can adapt to a new industry or situation, but a better way to protect yourself is to find a way to make money on your own.
- No matter what happens in the broader economy, you have a stream of income that you have control over.
- More importantly, you have the knowledge within yourself that you are capable of making an income yourself.
- Live life on your own terms. Even without the risk of rapid disruption in the industry, being a side hustle can give you more control over your time, your money, and your quality of life.
- With being self-employed comes stress and a lot of responsibility, but it also gives you the power to set your own schedule and determine how you spend your time.
- Creating your own income stream means you are no longer limited by how much someone else feels is worth your time. The extra money can be used to enjoy life more or invest in your future.
- Even if your work is mundane and not fulfilling, a side hustle can help you earn money doing what you love.
There are many reasons to develop a side hustle:
- take back your power
- increase your income
- protect your future
- Get Paid to Do What You Love
But there are many reasons why people oppose entrepreneurship. The Internet is full of business “gurus” and talks about business startups, ways to raise capital and make money. Unfortunately, a lot of the tips are bogus or don’t apply. Plus, with so many options and so much pressure, it can seem complicated and overwhelming, not to mention expensive and time-consuming!
The good news is that earning money on your own terms doesn’t have to be difficult or overwhelming. In fact, there are hundreds of ways you can start earning money from tomorrow in your spare time using easily accessible information and tools.
technologyTechnology has made it easier to plug into existing money-making gigs. Whether you want to build an online store or become a service provider for a gig employer like Uber, all it takes is downloading an app or signing up for a website platform.
InformationGoogle, YouTube, and online courses are easily accessible and free or low-cost making the strategies and steps needed to get started, so you don’t have to figure it out on your own. Learn from a mentor who has done what you want to do.
independent: Regardless of your experience or skills (whether it is designing, bookkeeping, writing, research, administrative support, or any kind of expertise, there are websites like Upwork, Fiverr and many others where you can take on side projects or contract positions. Can get. .
local gigs: You can serve your local community and earn extra cash by providing services like tutoring, pet sitting, cleaning, yard car, or repair.
infopreneurshipIf online businesses are more appealing to you, there are many ways to make money from information products. You can start a blog, become an affiliate, create online courses or write an eBook.
Monetize your content or space: There are dozens of apps that allow you to rent or sell your stuff:
- AirBNB. Rent a room in your home through
- Rent your lawn equipment through MyEquipment4Rent or rent sports equipment through Sinlister
- Sell your designer clothes on ThredUp or Poshmark
- Deliver food through Uber or Instacart or to people using your car
There has never been a better time to become an entrepreneur, both because of the security it offers in a rapidly changing world and because the tools and resources are at your fingertips.
Whether you want to earn an extra hundred bucks a month or sow the seeds of a business that could one day replace your job all at once, know that your future is in your hands. You can do this!