Do you know someone who left their job in search of more freedom, started a business and now works harder than ever with less time than they had before? It happens to a lot of people. In search of their dream they’ve traded time for money again and it’s their own money that’s at risk now. In addition to being in a more financially precarious situation than when they were employed, they’ve also lost benefits which may include medical insurance, disability and retirement plans. Had they done their homework thoroughly, they would have found that the key to unlocking the secret of working smarter isn’t merely starting your own business. It lies in starting the right business.
WHAT IS THE RIGHT BUSINESS?
One business does not fit all. The right profession is the one that resonates with you and your personality. Have you taken the time to consider what that is?
Analyzing your strengths and weaknesses along with your likes and dislikes is the first step to finding the perfect match. Once you’ve identified what these are you can narrow down the industries, businesses, products or services that will bring out the best in you and offer the highest value to the market.
RESEARCH THE JOB MARKET
Spend time researching labor trends and you will find that many traditional jobs are disappearing.
According to several job reporting agencies, including the Bureau of Labor Statistics, many occupations will be obsolete by the year 2020. If you own any kind of smart gadget or have the latest home technology you understand the reason for this forecast. The demise of many traditional careers is a result of automation, innovation and self-utilization.
Consider some of the following professions and why, like the door-to-door vacuum salesman, they may go the way of the dinosaur in the next few years.
Postal workers, sorters and carriers
Switch board operators
Word Processors and typists
News and street vendors
Door to door sales people
Electrical and electronic equipment assemblers
The list goes on. I’ve listed only a few. Let’s take a look at a couple of these professions.
Travel Agent –
When was the last time you used one? With Expedia, Trip Advisor, Priceline and hundreds of other online booking travel sites I may be one of the last people on earth loyal to a travel agent. It’s not that I don’t know how shop for the perfect luxury resort or the most direct and economical flight online, I simply hate shopping. I’m the person that waits until the day of an event to buy something new to wear that evening.
Newspaper reporters –
Seriously? Have they not heard of live streaming? With a smart gadget in just about every person’s hand, the need for site reporters seems unnecessary. The public wants to view and hear live situations, not day-old news nor information that has been filtered by a reporting agency.
As for newspapers… sorry to break the news but print media is dying. With our growing awareness that we must conserve and be environmentally friendly, the idea of slaughtering millions of trees every year for a potential shelf life that a newspaper has of a few hours, it seems completely insensitive and irresponsible to continue printing.
You get the idea. Don’t go after a profession or start a business that will be obsolete in the next few years. Combine your passion with emerging industries. So what are they?
There are a number of emerging sectors that will define the 21st century. Here are just a few.
Corporate America sometimes forgets that its most valuable asset is its human capital. Supporting new ideas is smart, timely and long overdue. We’ve only just begun tapping into the brain’s capabilities. Non-verbal human communication, by way of telepathy and concentration, is possible for everyone but not many have explored this potential.
Our capabilities are only as limited as our thoughts. Perceived limitations are constantly being challenged by individuals without limits. In 1954 Roger Bannister broke the record when he ran the first 4 minute mile. Since that time there have been over 1,300 runners to break and improve that achievement.
BIO FUELS AND NEW FORMS OF ENERGY
Biofuels produce less greenhouse gases than fossil fuels when they are burned. As such, they are a more environmentally friendly alternative. It’s also an option for countries with little or no oil reserves.
We can reduce the demand for fossil fuels used in the making of tires, gasoline and other products through inventions like Japan’s Maglev train which uses magnetic levitation. We have all the resources we just need to invest in them.
The trend for healing the whole person, that is, body, mind and spirit as well as preventitive methods is growing by leaps and bounds. As we learn more about the advantages and benefits of herbs and plants over pharmaceuticals, these companies will be forced to consider alternatives or transition into more natural products such as the ones used in Ayurveda.
SPACE INDUSTRY AND TRAVEL
As we become more sensitive and educated about the needs of keeping balance with nature, it makes sense to cut back on harvesting timber to make newspapers and magazines, especially when we have up to the minute digital information.
The world is online 24/7/365 days a year. Internet technology has changed how we live. We consume everything from our steaks to our homes to our lovers online. We receive the news, shop for homes, book vacations and watch programs when we want to, on our schedule, using digital gadgets. The Internet is where we turn to find answers to medical questions.
With time freedom growing in demand, professionals are leaving corporate jobs in favor of starting their own businesses. But what many don’t realize is that not all entrepreneurial ventures are the same. In fact, some people end up working harder than ever, making less money and having less time for personal interests. So what is the secret to starting the right business? You need to have leverage.
Leverage means using something to its maximum advantage employing the least amount of effort. If your goal is to have more free time and money, your business has to allow you to do that. Here are some examples of leveraging:
1. Find a business that requires low entry investment capital. A lot of entrepreneurs take out loans for their startups only to find that their businesses cannot make enough revenue to service the debt or that all the money that comes in goes to pay down the loan. The smaller the initial investment, the lower the risk. If you don’t have the assets, find investors to help you finance your venture.
2. Automate your business so it works for you while you sleep, while you’re on vacation or while you’re out on personal activities. Use systems that will do most of the work for you. This is working smarter.
3. Provide value to your market and you will secure repeat customers. When you offer something of value, customers are more likely to trust you and return. This means you won’t be continuously spending time looking for new business.
4. Work with high ticket items or services. It takes just as much effort to sell one $500,000 house as it does a $5million dollar one. Would you rather work to close two properties per year or 20? Leverage your time and energy by focusing on higher valued offerings.
5. Duplicate, use templates and systems that you don’t have to reinvent all the time. Follow a track that has been successful for others. This is what I do, what my mentors have done and what all successful entrepreneurs in my digital community do. None of us are reinventing the wheel.
6. Cast the widest net possible, which in digital marketing is easy because you have global reach. With an internet connection and a laptop the world is your audience.
7. Share excitement about your business. When others see your success, they will want to follow. Teaching your skills to others is valuable and another way to leverage and monetize your business.
If you want to stop trading time for money, now is the perfect time to unlock the secret to working smarter. Find a business, as I have with digital marketing, that allows you to leverage your time, your income and your freedom.
Author, Agapanthus Rising