I would induct Jerry Seinfeld into the income making hall of fame. After all, he made millions through many seasons of a sitcom “about nothing”. Jerry once joked that people are more scared of public speaking than of death. So to the average person, if you go to a funeral, you're better off in the casket than doing the eulogy. Well, recent studies have also shown that people are also more scared of running out of money than of dying. So it seems that at the anxiety Olympics, death will be lucky to win a bronze medal.
Unless you plan to become a comedian like Jerry, public speaking is for the most part avoidable. But, the thought of not being able to afford to live the life you crave is likely an unceasing daily fear. If you can’t relate to this, I give you permission to stop reading, close this page and switch to Facebook.
Recent studies have shown that people are more scared of running out of money than of dying.
Traditional approaches to improving your financial position.
So you are still reading. Let’s explore your best options for financial security.
- You could stop being so lazy and work harder at your current job to make more money.
- But you may already be working 50 hour weeks.
- You could try finding a new permanent job.
- But finding a new job may take months and is unlikely to give you the big jump in income that you are looking for.
- You could start your own business.
- But 92% of all startups fail, so you need some gumption to do so if you don't have significant savings in your bank account. I applaud you if you have the bravery to do so, but ensure you have a solid business plan and understand the risks.
- You could stop splashing the cash.
- But if you are already living a frugal lifestyle, I am not going to tell you to start eating your cereal with a fork to save milk. If not, then budgeting is a good idea but its benefits on your bank account are limited.
- You could visit a financial advisor. Don't they have all the answers?
- But they can only assist in telling you how to invest money that you do have. If you have no disposable income, a financial advisor will be as useful to you as a cup of decaffeinated coffee before a 7am meeting
All these old world solutions have their merits. But you need and deserve something more transformative, a truly better way.
You need and deserve something more transformative, a truly better way.
Money is “a medium that can be exchanged for goods and services and is used as a measure of their values on the market”. Or as Donald Trump puts it money is a good way to keep score. Running out of money is essentially a point at which you have derived more value from others than you have managed to provide. To make more money you need to provide more value to others. The way to do this is either to find more valued goods and services to offer or more people to offer them to.
The new way
Thanks to recent exponential technology advancements like the internet, the world has become a small town. You are able to connect with people on the other end of the world while years ago this would have been unheard of. The number of services or goods you could offer has also exploded. People are turning to peers for help rather than institutions. For example:
- Airbnb has turned your home into a hotel
- Uber has turned you car into a taxi
- Zilok has turned your assets into merchandise
- EatWith has turned you into a chef
- Udemy has turned you into a professional teacher
- Threadless has turned you into a fashion designer
This new stream of income opportunities could superpower your income generating capacity. Clark K could be a mild mannered reporter by day, earning an underwhelming basic salary. But, in his spare time he could get paid to give people superfast help through Taskrabbit. He could even rent out a blue costume, red underwear and a red cape to others on Zilok. His buddy Bruce W, a charismatic business man, could use Blablacar to give people lifts on his way home from work to help pay off his batmobile. He could get paid to go to a movie with Robin through Rentafriend or charge $500 per hour to give expert advice how to run a crime fighting startup on Clarity.
Being part of the crowd has never been so profitable. Millions of people are today looking to access labor, skills and assets from the crowd.
George Burns said “Don’t stay in bed, unless you can make money in bed”. Well, with technological advancements you truly can make lots of money from your bed. All you need is a computer, an internet connection and a pulse.
So find the right platforms to assist you with monetizing your unique assets and skills. If that fails, and if you don’t have superpowers, you can offer your time and efforts through sites like:
- Amazon Mechanical Turk, where you get paid for mechanical tasks
- Cambly, where you get paid to talk
- Slice the pie, where you get paid to review music
- And many, many more
Income providers like these have put money at your fingertips. There is no risk of losing money, total work flexibility and great income diversification. The money you can make is only limited by your willingness to engage.
There is no risk of losing money, total work flexibility and great income diversification. The money you can make is only limited by your willingness to engage.
With the wide variety of income making opportunities available, the world is your oyster. It is time to start collecting the pearls.