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“Why NOW is the best time to make money”

There has never been a better time in the history of the world for the entrepreneur to make money. If fear of not making enough money is stopping you from going for your Dream Career, you will be interested in this blog post.

So many people I speak with tell me that they would follow their dream if only they could make money doing it. The impression out there is that you either get a good job and earn decent income or follow your dream and struggle financially. However there is a third way (you can have your cake and eat it too) – do what you love and make money doing it.

It is the classic ‘starving artist’ Bohemian image that is embedded in our minds. You no longer have to fit that stereotype. One example of an artist breaking the rule is millionaire Japanese artist, Takashi Murakami, who created an art factory with locations in Tokyo and New York. His company has more than 100 employees working on his paintings and  sculptures. He then  further blurred the lines between “high art” and commercialism by collaborating with Louis Vuitton and rapper Kanye West, to produce handbags & cover artwork and animated videos, respectively.

 Let us go back in history...

For thousands of years, if you had a product or service to sell, you would first have to tell people about it. How you did that began with word-of-mouth marketing because that was all that was available for centuries. And because this kind of marketing could only spread as far as you could travel, it was mainly a local market. If your niche was outside your local area, you either had to move or you didn’t do very well. Imagine if your talent was painting Viking ships but you lived in Western Europe circa 1000 AD. Now that is a dilemma you could overcome if you had access to modern day technology.

It took until the 15th century, when Johannes Gutenberg invented the printing press that enabled people to efficiently print books, pamphlets and marketing materials. The press was refined over the next few hundred years, including the rise of publishing companies, newspapers and advertising in the late 19th century.

In the latter part of the 20th century the digitalization of design replaced the mechanically set media, allowing small businesses to compete in making their products and marketing materials look as good as the big businesses.

And with the advent of the internet and the world wide web, a small business can just as easily market and sell their new skateboard custom t-shirt, self-published book or vintage wine 2,000 kilometers away as well as they can sell them next door. New technologies has given the solo entrepreneur the ability to run a business with few or no employees. And economies of scale has allowed the cost of business to come down to the point where you can start your own company and gain a presence online for a few hundred dollars now when, 15 years ago would have cost you $10,000 and more.

 There are lots of FREE ways to make money

You can begin marketing yourself for free with blogs, social media, participating in other people’s online chats on Twitter™ or Facebook™ or other social media sites. You can get interviews on radio and local TV and even begin your own on-line radio station to get your name out there. You can form alliances with other non-competitive companies who share the same niche market as you, participate in cross-promotions and affiliate marketing campaigns. You can raise funds through crowd sourcing sites. The resources available to you are numerous as the business world has truly become smaller.

You can write a  book on your specific area of expertise and publish it as an ebook for sale in the biggest book store in the world, Amazon, all for FREE! Think of the arduous process of getting your book published a mere 25 years ago when you would need to reprint your manuscript at your cost and send them to publishing companies in the hope that one would accept you. Then for all of your work, most but a lucky few, would have to accept royalties in the low single digit area.

And now many people are FREE themselves to earn income…

In addition, more people around the world have the freedom and rights to begin, own and sell products compared with the eras when religious doctrines or feudal systems with kings and lords or even when monopolies dominated the marketplace before workers understood their rights and before labour unions came into existence. Yes, this is the best time to be an entrepreneur.

 

 And about that starving artist myth: People used to think that it was more noble to be a poor artist. Somehow being poor was supposed to make the artist more creative. I think that was just a rationalization for artists who didn’t know how to market themselves. They would waste precious hours working in a job to bring home some measly wage for sustenance, then they would practice their craft. I don’t see how that made them better. Great art comes from the artist’s feelings, true self-expression and practice. Logic says that if they spent more time expressing their art they would be better at it. (But maybe that’s just me.)

So…If this is the best time in history to make money doing what you love, then why do so many people struggle with making money?… 

I will focus on that in my next blog.

One Response to “Why NOW is the best time to make money”

  • avatar
    Deborah says:

    Very interesting blog. You clearly lay out how the world has changed with the internet and make your point with a lot of interesting ideas. Look forward to your next blog.

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