What 90% Of The Population Don’t Know About How We Earn Our Income

Just like the politicians can’t work out why we don’t like them anymore – most people have no idea how quickly the changes to how we earn our income are happening.

Check this out:

1 37% of the workforce are now making significantly more than they used to by… “freelancing”. Now they do what they used to do for a corporation – for themselves. They mostly choose to work a 4 day week.When asked if they would go back – 87% of them said not even for double the cash because they value that free day per week more highly than the money.
2 Robots are making cars, flying planes, lawyering, doctoring, stacking shelves, vacuuming floors and – once the drones get going – delivering pizzas.
(if you are wondering if drones have a future… farmers are already using them to check stock and crops. One dude with a drone can cover the territory it takes ten people on bikes or utes)
3 Singapore has 16 driverless taxi’s on a six month trial as we speak. Seven weeks into the trial and guess what? No crashes, no wrong destinations, no missed pickups, no departures when passengers are half aboard… Whats the future of the 100,000 taxi drivers in Oz?
(Uber knows the answer and it isn’t pretty)
4 The Australian Mint has predicted its own future to be less than ten years. They see no role for cash going forward and expect to be producing only collectors and commemorative items by 2024.
5 Jobs are vanishing because entire industries are going belly up. Today you can totally custom design your new house with the aid of an electronic Architect, have it made in the factory and delivered to your block on a truck in several pieces that bolt together.
(seriously – would you advise a kid to get a bricklaying apprenticeship?)
6 Starting a new business if you had no idea but plenty of go factor used to be restricted to taking up Amway, Nutrimetics etc. Today you can start with zero dollars, launch an Amazon store selling other peoples products that you’ve never seen because they are delivered straight to the end user. You just collect money. It’s highly likely that your business advice will come from others who have succeeded – via youtube. That Amazon store might be eBay, Alibaba or a host of others.
7 The cyber currencies (bitcoin and host of others) are on the march. The Bank of England issued their version in June 2016. Cyber currencies allow for traceless transactions. Of course organised crime and the porn industry have been using them to avoid tax and sleuths for years.
(What does it mean when your government has no idea how much or when or if you got paid? How is tax calculated?)
8 Every business that knows how the heck to do it is pushing the work towards the consumer of its products. Already the airlines have us tagging and loading our own bags, Woolies and Coles have us doing our own check outs… Even the tax dept has us collecting tax (GST) on its behalf. This can only accelerate.

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What does it all mean for us mere mortals?

The chances are pretty high that your current income source will cease to be viable over the next 5 to 8 years.

Because the current vanishing rate is propelled by industries experiencing total collapse – more jobs cannot be created than are disappearing. That’s a net loss of jobs on a scale unimagined (unimaginable?) in our history.

Check this photo out:

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It’s what used to be the largest trading floor in the world. Those thousands of brokers have been replaced by a couple of algorithms that do their thing from a hard drive no bigger than your phone.

In my (albeit limited) view there is only one alternative.

It’s a matter of urgency that you get into your own business.

Jobs are no longer the safe haven they once were – in fact they are more like the holding yards at an abattoir. The future is short and ugly.

Fortunately, its faster, easier, cheaper and quicker than at any other time in history.

You could be an Architect if you had $250,000 for education, 7 years without need for any income and the desire to spend all day (and evening?) studying. On graduation your knowledge will be 50% redundant and need upgrading so you’ll need to invest a day a week staying up to date.

Or you could be like my friend Daniel who draws (sketches) houses for selected clients at $25,000 a pop.
(if you have pencil – you can start now)

The old economy is about learning in order to do.

The new economy is about doing in order to learn.

There are literally hundreds of thousands of people out there who want to know what you have learned over the years.

They don’t want to do a course that takes three years – they want it finished in three months. (tops)

Why?

Because they just want bit they want now.

The moment you start valuing your life knowledge is the day you step into the new economy.