Opportunity Exists… Today And Tomorrow
If you read this blog, you know I’m incredibly bearish on the U.S. economy as a whole moving forward. If you don’t typically read this blog, then go through some of the other posts to read why. I feel it is important to say amidst all this bearish talk that there are definite opportunities available today and in the future despite this bleak macroeconomic view. This is your motivation to keep moving forward.
It’s important to realize that even when the macro economy as a whole is struggling, there are still plenty of people making significant money, plenty of businesses releasing innovative products and plenty of opportunities available for the hard-working, creative, entrepreneurial types. If the overall economy is weak, these opportunities will not be revealing themselves with bright, flashing lights; instead, you will need to search them out.
So, where does the opportunity exist? I don’t believe you need to invent something or create a new product in order to have significant opportunity. As always, there is amazing opportunity in being able to add value to a previously existing product, service or process. Nowdays, this value is often added through technology.
The “Platform” Model
I believe one of the best ways to find massive opportunity is by creating a platform that services other businesses. Rather than being the business that provides a service or sells a product, you can create a platform that you can offer to those businesses. By enabling businesses to cut costs, increase productivity, and do more with less, you can do very well.
I realize I’m speaking in pretty broad terms so if you’re not a techie like me, let me provide an example. Amazon.com is a great example of a platform. Their retail strategy is important, but what has made Amazon enormous is the fact that they provided an incredible platform for existing retailers to sell their own products through. By building the platform that connects retailers and customers, Amazon is able to make a cut of a millions of sales without having any part in inventory or shipping. Their technology or their platform handles everything on their end. Talk about a scalable and profitable business model!
While Amazon is a very large example, you can think of smaller examples as well. Maybe you are in an industry that uses a lot of part time employees. You could create a platform that handles the scheduling of these employees and offer the companies in that industry the ability to outsource this function to you via your technology or your platform?
Understanding The Big & Small Picture
I do believe that it is important to understand the economic realities moving forward. And these realities are that the economy will struggle and many people will struggle as a result. By understanding this tough environment, you will know not to sit around and wait for opportunities to come to you. You need to go find them.
It’s important not to get discouraged about the economic future, because there is still plenty of opportunity for those who are willing to grab it and work hard for it.
What has your last year looked like? Have you just been sitting back complaining that you’re not making as much money as you used to or that your career has slowed down? For me, I’ve been able to keep my main income from my job stable and also create a pretty stable income stream from online resources that is now ranging between $600-800 a month.
What will your next year look like? What about the next 5 years? It’s time to start moving forward. I enjoy discussing this topic with ambitious individuals. If you have any ideas or questions or comments you’d like to bounce off me, leave a comment or send me an email.