Saturday, August 6, 2011 Post By: Grayne Wetzky

The new economy

It might be hard to be excited about the future of the economy these days. Every day sees a new series of bad news. Unemployment is sky high, the housing market is collapsing, politicians are unable and unwilling to do anything. States and countries are buckling under huge amounts of debt.

The stress caused by this economic uncertainty is sky high. People are so stressed about the economy and their own finances that it is becoming a health problem for many. Worst of all, there is no sign of any politicians doing much to address the issues. To many it seems like the whole system is falling apart.

I don't think it is reasonable to say the world economy is falling apart, but it is clear that we are seeing a historic transformation of the global economy. When future generations look back at history I think the shifts we are seeing the beginning of right now will be considered just as fundamental as the industrial revolution. We are seeing the fragmenting of markets and extremely fast changes. This might sound scary, but in reality it presents unlimited opportunity.

The traditional economy is changing. The days of getting a job out of school and working your way up in the company are disappearing. We are already seeing job security eroded, and the workforce is moving around more than ever before. Both companies and employees move a lot faster than they did just a decade ago.

The marketplace has changed dramatically in the last 5 or 10 years. With the internet connecting the world in brand new ways, the old rules of business no longer apply. With cloud computing and logistics handled electronically, it is now possible for very small companies, even individuals, to be competitive in selected markets. It is no longer necessary to have a huge cash flow to sell and buy products from China.

Today it is possible for an individual to do business in a global market with minimum investment. This has never before been possible in the history of the world, and we are just starting to see the effects this will have on the economy. There are already an army of freelancers that are taking advantage of these opportunities. Start ups and entrepreneurs are popping up like toadstools. People are starting to realize their creative potential and bringing their products into the world.

Many home based entrepreneurs rely on their own minds and skills to sell their products .There is also a growing trend of large corporations leveraging this new entrepreneurial spirit. Apple has generated a great platform for individuals to do business with their App store. There are a multitude of companies that let people publish their writing and reach massive audiences. As well as services targeted directly to people who want to do business.

This blog is an example of what is possible today. My startup costs for running this blog were exactly $0. By leveraging the blogger service I have been able to reach thousands of people in almost 100 countries. I've even been able to make a little bit of money from my work on this blog. Just a few years ago it would have been impossible for me to spread my writings like this without going through a publisher and spend a lot of money.

The new economy has already overtaken the publishing industry. Writing is now more democratic than ever and the trend will only escalate. The individualization of business is already reaching music and even broadcasting. Before too long we will see the same trend in all types of creative businesses. The day when regular people can easily produce their own movies are not far in the future.

So where does this leave you? You have an unprecedented opportunity right now to take control of your own work. Rather than being tied to being employed it is now possible for anyone to develop a good idea and build a profitable micro business around it. The world is out there and reachable, if your ideas are good you will find a market. The ultimate act of self reliance: being self employed and self sustained is once again attainable for anyone.

It doesn't matter what you are good at or what you really feel like working with. If you are willing to commit time and effort the chances of succeeding on your own have never been better. I say go forth and seize the opportunity!

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