Creating your Own Economy – Things You Can Do Now

Creating your Own Economy – Things You Can Do Now

If you don’t want to read it, you can watch this video.

I’m going to lead you down a path that led me to come to some conclusions maybe three years ago. We have something that no one is talking about. We have the largest educated underclass group of people that we’ve ever had. That’s right. It’s the new lower class who are highly educated and poorly paid. This trend will not reverse itself.

People who work in the fields they get their degree in, on average, do make more than high school graduates. But when you pull out those select degrees, and there are just a few dozen of them, the difference between a high school graduate and a college graduate is very marginal. This is stuff you see every day.

When you go to Starbucks and Walmart and you speak to that well-spoken person that makes $8.50 per hour, they have a degree. They were taught a few things that are just not relevant in this new economy.

There was this documentary on educated Canadians who are going through tough times finding work. Understand, Canada has a bigger social net than the USA does. This group is extremely educated and frustrated. This is where the sharing economy is beginning. There are some winners in this group of people who got a degree and they just can’t seem to find a job that rewards them for their efforts.

So, what these educated people are doing is creating their own things. They’re using their talents and networks to create other networks out of necessity. If these people were allowed to participate in the economy as it is now, they would not be motivated to start their own things. Out of necessity, they are creating this other economy.

There is the traditional economy. There is the underground economy. There is the secondary market which is the exchange of used items, which includes eBay, Craigslist and garage sales. Now there is the sharing economy.

The sharing economy is really hot right now. It strikes at the core of what I’ve been preaching for years. Create your own economy. A person in a town of 20,000 people that comes up with a service for 4000 of those people in that town could become a millionaire.

What you’re seeing here is when you create the sharing economy or your own economy, you don’t have to have hundreds of thousands or millions of customers to be extraordinarily successful. The reason is because you are getting more of the pie.

Let’s use the example of being an author. Imagine in your mind a pie chart. Fifty percent of the pie is gone; that’s going to the retailer. Twenty seven percent of what is left is going to the publisher. So, seventy-seven percent is gone before you even get paid. The, you have to take out another seven percent for their attorney or agent. So, the writer is left with 16%.

That’s why it is so hard for authors to make a living. Other people are making 77% before they get paid in the traditional economy. That’s why people think you have to have these huge networks to make any money. It’s based on where you are in the food chain. If you create the food chain, you get more of what’s going through the assembly line. If you’re just a cog in the machinery, you get what you can get.

Essentially, you can create a small company and maintain great margins and make more money in outback USA than someone who has mainstream exposure. For example, as a self- published author myself, I make more money selling significantly less books than authors published by mainstream companies. I know this to be true because I am living that life. My first 14 months as a self-published author, I made $62K which is a living wage. No, you’re not getting rich off of $62K, but there’s a lot of people who would like to make $62K.

A lot of people are suffering. There are many people who are suicidal because they don’t know what they are going to do. I am not happy that I am right about college degrees becoming worthless. I’m not happy at all.

To be really clear, education is extremely important to your success. Getting a degree is only one form of education. It is touted as the holy grail of all education even though it has significantly lost its luster and earning power for most people.

The narrative is so powerful in favor of getting a degree that people will support your decision to get one, even though the empirical evidence does not support that decision in most cases. People are finally waking up, and they are waking up to a very ugly nightmare.

Here’s a website I want you to check out. It is sharable.net. You will find all kinds of crazy stuff here. There are some great ideas. You might find some information that will help you move some items you’ve had a hard time moving. There is some good information on some real issues that I think you should read.

This is very exciting. It is not something to be afraid of if you have the right knowledge. If you are a sheep with your head in the sand, this could be scary. For those of you paying attention and who know what’s going on, this is going to be an incredibly lucrative period of time for you.

I predict that in the next thirty years or so, the “sharing economy” is going to be the way and it’s going to continue to grow. I think we’re just coasting now compared to what’s going to happen in five to eight years. There is something brewing in some kid’s mind that I already know is going to make me money.

You can sell services. You can rent out your car or your house today. There are so many new ways to earn money in the “sharing” economy. This woman on Zaarly is coaching people on how to have conversations. You could sign up now and start selling something.

The opportunities are everywhere.

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