Ugh, I'm so annoyed that some people still want to work for a "great Company" and eventually retire. While some may be able to have that life. That is becoming quickly outdated.
Jobs are disappearing very quickly. Because technology is moving forward. Becoming an Entrepreneur now can get you ahead of the game!
We have the best opportunities these days
We have fewer gatekeepers than ever before. We truly can become whatever we want! You can publish a book without a publisher. You can make money on youtube sharing tips, Or even travel. Your life is in your hands!
What is Entrepreneurship?
It's the ability to create, connect systems.
While a job is something that someone else created.
Should I get a college degree?
Even though college costs have risen, The ability to get funding like Pell grants, etc. have become easier. As more and more people have college degrees, The value in them has gone down.
We see a lot of college students Unemployed, Drowning in debt. Or Many of them aren't even working in a career in which they got their degree.
Why Information Smarts Won't help you
Education is geared more towards being information smart!
This doesn't matter anymore. We don't need to be information smart When we have Google in front of us. Things are changing. Our educational system is not keeping up.
This is another reason that college education is dropping in value.
Like James Altucher has said, We are transitioning into an idea Economy.
The Economies
This timeline was taken from the "End of Jobs" book that I reference at the end.
The Agricultural Economy 1300-1700
The Industrial Economy 1700-1900
Banks became the power groups
The Knowledge Economy 1900-2000
The economy didn't have enough knowledge to grow. Banks lost their power, and it went to corporations
Entrepreneurial 2000-
The limit has shifted from Knowledge to Entrepreneurship.
The Entrepreneur Economy
Because of Globalization, We have more competitors, As well as customers.
The Entrepreneur Skill set is more valuable now, And it can be acquired. Jobs are becoming less profitable everyday! And more competitive, As fewer people have an Entrepreneur skill set.
Entrepreneurship is safer than a job!
A lot of people tease me for being self-employed.
I am still learning everyday. But I do occasionally go through "rough times." Which do people like to comment "Wouldn't you rather have a job? It's safer".
They are wrong!
As an Entrepreneur, I am building Systems (businesses) That don't require much hands-on work, As they grow. I can outsource them to employees.
I am also able to create other things, Such as books. That are like assets that generate a regular stream of passive income.
With a job, You are trading your most value resource "Time." For a set amount of cash.
That work you just did, Will make the flat rate amount of whatever your employer pays you. You get nothing more.
My assets continue to generate revenue after weeks, Months, Years.
One book that took me less than 7 hours to write Has generated over 1,000 and it's still making money. It's not even a best seller. Right now I'm at 142 "Per Hour" on that one book.
What sounds safer to you?
With your job, I don't care if your in a union. The business could go under, Or you could get laid off. And you will be left with nothing.
Do you trust yourself, or your company more with YOUR future?
Entrepreneurship Is risky and random
A job is more known. You take less risks at a job. You may work comfortably for years and years and never have an issue.
Everyday as an Entrepreneur I have to make tough decisions that could eventually screw me over.
6 Months from now, Is unknown to me. I could be a millionaire I could be homeless.
We are taught that the unknown and risk is scary. But It keeps you on your toes, and it keeps you Learning.
But the moment you are "Most confident in your security is the moment you are most likely to be endangered.
- When We stay put we are often put on silent risk. "
This goes for Entrepreneurs too. If they get too comfortable with one source of income, They could lose it and have nothing. That is why no matter what you are doing, You need to diversify.
I had this happen to me. I was about to quit my job. I was making over 2,000 a month from just ONE source of income. I got news one day that they are making changes in the platform, Guess what? I lost that 2,000 a month in ONE DAY! This can happen to anyone.
"The longer the market goes without having correction the larger the correction will be when it happens. The longer we go in our careers and businesses without variation or randomness the larger the amount of underlying risk we accumulate. "
Some people lose their jobs, And because they never gained the skillset of creating systems, They are so used to following orders. They cannot sustain themselves. These people sometimes have more monthly expenses because they believe that steady paycheck will keep coming. They've made life decisions based on that.
Be flexible!
The Sharing Economy!
This is one of my favorite things about being alive today! We can share everything. Uber and Lyft drivers share their cars with you.
You can "rent" more stuff, and You don't have to buy it on your own!
Not only is this great for the environment but we save money. And those behind the "Sharing." Can make money by loaning their stuff to others. Like Airbnb. You can make money off your apartment when you leave out of town.
We also can share knowledge and books!
NEW Markets are being created everyday!
Don't be scared! With the new markets being created it's easier to get into things that you love!
Conclusion
Wow, this post is over 1,000 words now. So I'm going to cut it off.
Don't rely so heavily on your job income. Try starting a side hustle and move from there. Read all that you can! Don't rely too heavily on your paycheck! It can be extremely dangerous.
Jobs won't be very profitable in the future, And relying on someone else to make money is very scary.
For those of you who haven't read the book "The End of Jobs" By
Taylor Pearson
I highly recommend it; This blog post covers what I learned from this book, As well as my thoughts and insight into the subject.
Thank you @elyaque for the awesome Badges!
OK, allow me to play Devil's advocate and critically analyze your thesis here.
There is a lot that goes into running a business and it does not seem very realistic to compete in the market without any skills or knowledge that is usually attained through college and business schools.
The experience you gain when working for a company and learning from everything that goes on there can be critical when it comes to running your own business later on.
Running a business costs lots of money, especially if you really intend on competing with everyone else in your marketplace. Larger companies and corporations are well known to outpace and overwhelm small business owners rather easily.
Mr. Wonderful says it on Shark Tank nearly every episode... "They will crush you like the cockroaches you are."
So while I can appreciate the positive feel you are presenting here, I would still recommend that all children go to school. Plan for college, save for college, and get it done with as fast as possible to get that piece of paper in hand. Don't shoot for expensive, challenging degrees that you think might pay well. Just get a degree, any degree, as fast as possible.
After graduation you will most likely find that many successful small business owners have had a business in the family for generations, they often have lots of money to start with and other resources that most common folks just don't have.
Mr. Wonderful is known for being brutally honest on Shark Tank, hence the nick name, and he sees self starting, small business entrepreneurs every day for a living. When he sees someone who is just getting table scraps, and they are not really competing in the marketplace... He calls it a hobby.
Now it does happen, Shark Tank is full of entrepreneurship that works. However, I still feel that it is rather rare where a hobby can become a career as such. The folks on the show that stand out have a serious passion to master their business. They live in closets and work 24-7 for years before they are able to create a business that is even somewhat enticing to an investor.
However, there is still a difference between a hobby and a career.
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I agree that college can benefit some people . But I personally learned nothing, Most of the information was outdated and I was able to educate myself on my own. That is why I dropped out. Because the piece of paper really meant nothing to me.
I agree that it can be hard to compete with those bigger people. Especially those who have a business already in the family.
I love that you are referencing Shark tank. And that there is a difference between a hobby and a career. I feel like as time goes by, That distinction will shrink a little bit, As there are more opportunities.
I never said it was easy. I know what you mean about "Living in closets working 24-7 for years" because thats what I've been doing. After 1 year of that, I was able to sustain myself without a job. And I hope one day to grow bigger so I look "enticing to an investor"
Thanks for playing Devils Advocate I really liked your insights on this.
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You eco a lot of sentiments I have about entrepreneurship I have discovered also . Entrepreneur now 5.5 years and counting. Everyday is like the first day. Terrified and amazingly happy at the same time.
One thing I did realize was Nike was kinda right with their "Just Do it" meme. Not that I work for, own or like Nike more than any other shoe. But they should have added "Just do it better everytime and keep doing it", but I think a lot of people got the gist of that.
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I agree!! Nike has a great slogan! Even though it's scary you absolutely have to "just Do it".
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This is exactly right! I work with teachers and they are just now realizing that even their job isn't safe, and they keep looking for a safe job. Ugh!
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Yes! UGH! It makes me sad though. I have an enormous amount of respect for teachers. But sadly with online courses they are in trouble. Why aren't THEY making courses? Thats good income right there.
Half of my high school education was taking online courses.
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Exactly, @kaylinart. Now we can be our own “Company Inc.” :)
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We can! And it's amazing :)
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I really think freelance is the future, and you got a headstart.
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I agree!! I already hire lots of freelancers to help me with my businesses. I can't wait to hire more and more qualified people.
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Nice :) if you ever need a creative writer, let me know.
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I love this! Entrepreneurs are what drive innovation! The blockchain is going to allow more and more entrepreneurs to create blue oceans out of red oceans.
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Thank you! I'm way excited about the blockchain helping us as well.
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Honestly I think we are transitioning into a neo-agricultural economy. The new farm land is computation resources and the new farms are intelligent machines. Owning AI is like owning cattle or chickens which produce eggs. AI are productive assets which do economic labor on behalf of their owners.
So we are transitioning back to a lifestyle where it's about what productive assets you own rather than what jobs you have because for the most part the majority of the work will be done by machines. Corporations are just economic machines and can be automated.
Reference
https://en.wikipedia.org/wiki/Ownership_society
http://financialuproar.com/2014/08/21/difference-productive-non-productive-assets/
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Wow! I didn't think of it that way! I love it!
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Not if everyone is an entrepreneur.
There's plenty of room for entrepreneurship, but it's not the be-all-end-all. Those business systems you're connecting at some level are going to be people working. There are plenty of skill sets that aren't particularly useful on their own, but critical when running an organization.
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The goal should be to be an owner not an entrepreneur. If you own businesses you can do better financially than if you run them. Automation favors the owners not the runners of businesses. Founder and owner is a better title than CEO. Shareholder is better than employee. Owning the farm is better than working on it.
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You are so smart @Dana-edwards
You always blow my mind with your comments! haha
I agree with that completely. When you own it you can step back easier and watch everyone else run it! This is something I hope to eventually transition to as I grow my businesses large enough. But of course I'd have to find someone who is "qualified" to run the whole thing.
I think for those of us with less income, It's easier to step into an Entrepreneurs shoes rather than an Owners. Because sometimes having that money to buy out the company can be difficult. So first growing as an Entrepreneur can help us work our way up to owner.
@telos
True! I wouldn't be able to have employees. But maybe I could hire a someone who creates software, To make me a program that will do the work for me. Similar to an employee but it's all automated.
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You actually already are an owner. The Steemit platform gives you a taste of what being an owner feels like because you own a digital stake in Steemit. There are many opportunities even better than Steemit in the crypto-sphere which you should be on the look out for. You have great skills for writing and have an audience, so at least some of these projects may be willing to offer you a stake in exchange for you writing about your experiences using their platform, or to explain the benefits (philosophically). I think you and I are both better off as owners because I think we have more to offer the world.
For traditional businesses you are pretty much correct that you do need to pay a human being to be your CEO. If you reach a point however where you've got enough saved that you can begin investing then you can look into REITs (real estate investment trusts) and other dividend paying stocks, along with crypto-assets, so you can get the benefits and income of the owner without even having to hire anyone or do anything but hold shares. In the case of crypto-tokens it might be the case that you just have to hold the token to get the dividends.
Time will tell I suppose. The idea to hire someone to create software is excellent thinking, that is what the ICOs are about, but you can also do your own ICO if you have a good idea and can get someone technical to help you launch it. There are companies set up to handle ICO launches even so even that has become a service so all you actually need is a good idea, to have a good reputation, to be trustworthy, then an Ethereum smart contract collects funds which go straight to a multi-signature wallet which you and your team access to hire the necessary programmers. If you ever decide to launch an ICO let me know.
Note on Aragon: It doesn't let you avoid any legal obligations or registrations for starting a company but it might make running one decentralized easier.
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What the fuck is an ICO?
Anyway, I wouldn't equate stock ownership to company ownership. You have very little control, you're just hoping to soak up dividends. I'm moving towards real estate now where I'll actually be owning, along with founding a software company where I'll also have actual control compared to shareholders.
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An ICO is a fundraiser where people give you crypto tokens worth money to create a dAPP or smart contract. It is similar to Kickstarter.
The smart contract can earn a profit and pass it through dividends for token holders or through increased valuation of the token. ICO really has nothing to do with companies or firms as legally registered entities but is ownership in a completely automated piece of software which exists distributed on a blockchain. So in the case of an ICO, ownership means control.
If you're asking about my opinions of real estate, I would say REITs are better for me because I like liquidity. I also see REITs as a lot less risk. If you just want the dividends why do you care about control of the company?
Owning the rights to the profit is the path to financial independence not owning control and voting power.
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@telos
The goal and intent behind my posts was to show that you can automate profit generation using "bots" which exist as smart contracts on Ethereum, or other future blockchains. That is the game, that is the ultimate productive asset, just so long as your bot is creating something of value which other humans are willing to pay for then it can make a profit for you indefinitely.
A bot would be a fully autonomous profit generating machine for whomever owns it or holds shares in it. This is different from a company, as a company exists legally while a bot exists digitally written in code, and interacts digitally, as humans must communicate with it using it's token only. In the case of Steem you need Steem, in the case of Ethereum you need ETH, in the case of Bitshares you need BTS, and so on. A token sale is a way to buy these currencies, but also act as a way to communicate such as to vote.
If Kaylin, or you, or I, can come together to get an idea for a smart contract funded, then we will be founders. We could reserve for ourselves some percentage of the token supply, and design the system to pay dividends to holders, as proof of stake. The ICO being a fundraising mechanism sells or pre-sells the tokens to others who want to buy their seats on the deck so they too can get whatever benefits. Then all stakeholders work together to bring value and raise the price of their tokens.
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I'm a software engineer. It's not as simple as that. :P
First off, we can write good maintainable code or we can write bad obfuscated code. The former is more likely when I know I'm the same person who will be maintaining the system for years, the latter is more likely when I know you'll keep bidding to change who codes the next changes. Not to mention the possibilities of putting in unethical backdoors, let alone the need for a team of people to create anything worthwhile.
Software is often outsourced, and many companies have ended up wishing they didn't because the quality is lower compared to that generated by employees.
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Steemit is my "side hustle." I hope my endeavors here someday finance my entrepreneurship. I hope to start my business debt-free, rather than on lent money like many startups.
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Debt-free is the way to go!
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Absolutely. If we have debt, we are in service to money. I don't think God wants us to live that way.
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Thanks for the book recommendation. I will check it out in the library. In the long run, big companies don't have competitive advantages. Still, people have inertia to keep in their current status. I myself need to be pushed!
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I agree with everything you said. Sometimes bigger businesses can struggle to compete because they are less flexible and it can be hard for them to make quick changes. While smaller businesses can often do that.
I also feel you on that! Humans really don't like change. We can slowly change habits overtime. But big changes often overwhelm us and we quickly go back to what we were doing before.
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Well done! I'm ghost writing a book on this very topic right now, for those transitioning into the contingent work force. We are going to be the majority very soon .
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LOVE it! Although I'm kinda scared about being the majority to be honest.
The competition is going to get fierce!
How long do you think it's going to take for us to be the majority? Do you think there will be more freelancers or Entrepreneurs.
I would love your insight on this!
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Good post, thanks for sharing
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This is very encouraging, thank you kaylinart.
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No problem.
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FREEDOM!!!!!!
REsteemed
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Thank you :)
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Amen
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Thanks ; )
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Great, as always!
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