Why is my economy bad? I went to school. Got a job. Left my job. Got another job. Left my job. Got another job. Got laid off. Working two part time jobs. That sucks. It’s reality.
Gads! It’s an uphill battle. There is loads of unemployment, jobs that don’t pay very well and no money to borrow to start your own business.
I’ve seen first hand how the economy has evolved since I started out in a career as a CPA in 1978. I want to share some insights that may help you.
It’s not really all that bad. You’ll have to change in order to improve. Let’s look at ways to improve your future.
There are 4 primary ways to make money:
- You can work for someone else (employee).
- You can work for yourself (solo entrepreneur).
- You can work like a big business (leverage assets and people), or
- You can own assets that make you money (investor).
Let’s explore each of the four categories and how to make more money:
- EMPLOYEE It will be the most challenging to actually make more while working for someone else. When I say more, I mean the type of money that will pay for your big dreams. But it can be done. First, you have to be better than those you work with. You’ll have to improve your skills and be so valuable to your employer that you’ll get paid more. Second, you can work more hours. However in the new Evolved Economy employers will begin to pay you based on the value you deliver and not on how long you work. Therefore working more hours may actually not earn you more money. In the new Evolved Economy employers that pay you based on the value you deliver still have their own bottom lines and if you start to deliver more value the employer will only pay you more once or twice at the higher rate. Then they will reset your value standard because they will see that you are costing them more. While they want to keep you, they realize that they probably can find another you for less. Plus with so much unemployment, there are a lot more people to choose from. They will let you go and find someone else. I left this category because of these reasons. I was valuable but no employer was going to pay me what I was really worth. Plus I enjoy freedom to much and hated the Sunday night knot in my stomach to stay as an employee.
- SOLO ENTREPRENEUR You can make more by owning your own business. The reason you can make more is because you are taking more risk. You’ve heard of the risk/reward factor? The more risk you take the greater the reward. I actually think this is a much better way than number one. I owned two of my own businesses. I did earn more but I didn’t have more time to enjoy it. I actually had less time. I had payroll to make and employee relations to deal with. I was placed doing things I was not good at like looking at details. I was good in front of clients but I had to do everything else too like paying bills, marketing and advertising. If you are really good at your skills then this way is better than being an employee. Yet, you are NOW in the Evolved Economy and this way is being phased out. More on the Evolved Economy later.
- BIG BUSINESS; LEVERAGE ASSETS AND PEOPLE Being in the big business setting is where it’s at! This is where you create leverage; you get paid on how much other people produce. Instead of you working longer you work smarter. The cool part of this structure is that there are models set up to slot you in the exact same position as the CEO at the top all the while you’re still working for someone else. How cool is that? In your spare time you start working like a CEO to create leverage. This is really a great opportunity in the Evolved Economy.
- INVESTOR Finally you can invest in assets that make you money like real estate, stock market, bonds or other entrepreneur’s concepts in the Evolved Economy.
After you read this you may be disappointed that I didn’t give you some earth shattering information that you could really use. I’m not done yet. You have to understand what the Evolved Economy is. In fact if you’re reading this from your smart phone you’re a part of the Evolved Economy.
You really have two choices. You can sit back and pray to survive in the new Evolved Economy, keeping your head in the sand and being controlled by others while working in the Traditional Economy. Or you can be wise and get over the fact that the world has changed. The Evolved Economy doesn’t care you worked for 28 years and have no pension.
For me, I’d rather benefit from participating as an owner in the Evolved Economy instead of as an employee/consumer.
I hope you feel a sense of urgency. I know I did and now I’m fully engaged and a part of the Evolved Economy, I’m not only surviving, I’m thriving! I believe you can too.
Oh yea, why is the stock market going up in a bad economy? I’ll write more about that soon. For now its going up because some people’s economy is rocking and they have earnings. Earnings drive the stock market. Earnings will drive your future too.