Imagine if your work were aligned with your social life instead of having to adapt your personal life to your work. Live and work wherever you want has many benefits, especially in today’s environment. With many people preferring to stay home rather than risk possible health consequences, a digital economy is a pragmatic approach to earning a living. Not only does it make sense from a health standpoint, but working from home can also provide a type of freedom many people in the traditional workforce are not granted.
The Digital vs. Traditional Economy: What Does It Mean?
To better understand the benefits of working online, knowing the differences between the traditional and digital economy is key.
What Is A Traditional Economy?
A traditional economy relies on time-honoured beliefs. Because something worked historically, it will most likely continue to work. This is the common belief that is held by most people who pur their faith in the traditional economy. While this may work for some industries, such as agriculture and distribution, it does not have to be the only (or even the best way) to make a living in our current economy.
Traditional economies can happen in various different societies. Socialism, capitalism and communism have all relied on their own type of traditional economy. Typically, what happens in one economy will impact another. When one large economy does poorly, other economies around the world can feel the effects.
“There is no alternative to digital transformation. Visionary companies will carve out new strategic options for themselves — those that don’t adapt, will fail.”
— Jeff Bezos, Amazon
Is A Digital Economy Real?
A digital economy is primarily based around computer technology. The internet economy can be utilized in many different ways depending on what is most needed at the time. Because the online world has become increasingly intertwined with the “real” world, digital and traditional economies often work together. A key aspect is that you can offer value to others on a much larger scale than in a traditional economy. Making money online can be done in a variety of ways.
One of the most common e-commerce options is through online business. Websites like eBay or Amazon other platforms where buying and selling can be done from one individual to another has become increasingly popular since more people have started shopping through the web. Online bidding is another way in which the economy can vary slightly from digital and traditional sales.
Other online jobs include affiliate marketing programs, working remotely from previous traditional jobs and even making virtual promotional videos. It is estimated that approximately 30% of the S&P (Forbes) is made up of the digital economy. Retail and marketing are some of the top industries for online jobs. Thanks to Bitcoin, the internet can even have its own currency.
Does Digital Economy Work?
A large part of life is moving online. Magazine publications, newspapers, banking, retail, call centers and even some medical check-ups have the possibility to move online. The digital economy has happened at lightspeed and while some of us haven’t caught up, many have.
Making money online seems to be something that can be done relatively easy these days and does not require a large startup fee or specialized expensive equipment. By eliminating a physical space, the digital economy can potentially be cheaper for businesses.
For instance, restaurants that are online-only can deliver food without necessarily needing an in-person restaurant. Even businesses that used to only require an office like a personalized accountant or even a hardware store can now offer their services online. Without monthly rent, office furniture and maintenance fees, online businesses can save almost as much as they can make.
Time does not have to equal money in a digital economy which is one of the reasons I’m interested in it. Because marketing ideas can be duplicated in multiple areas of the internet, creating and recreating specific ideas and material is not required. There are many ways to capitalize on time so that you do not need to focus on working for an hourly wage.
Here Is Why I Want to Work Online
I believe all those years of studies and hard work we deserve more than just a salary in return. It’s not possible to achieve that in the traditional economy. In the corporate world (where I’m from) it’s important to count the hours. In the digital landscape, the same amount of hours can produce a service or product that can be used over and over again, which means you can remove the “time is money” philosophy. I never liked the idea of being forced to commute every day and being told what to do. I desire the freedom to work wherever I want, Whenever I want.
As long as I know my own goals, I like to be my own boss. Working online would also allow me to take an extended vacation whenever I want which is very appealing since I want to spend quality time with my daughter and girlfriend. If I had to work, I want to be able to just bring my laptop along with me. Because I wouldn’t be tethered to a physical location, I could experience the world in a way that I can’t do when I work in an office.
When I work as an employer in a large company, I often feel like a number. Too often I am asked to do work that ultimately doesn’t benefit me, and I feel more like “hard work”. If I were to work online, I would know why I’m working and could benefit directly, no matter where I am.
Can you relate?
When I am older, I want to know that I have made a difference for other people. I want my daughter to see that there are more ways to working and living in society it doesn’t always mean you have to do what everybody else is doing. By working in the digital economy, I can focus on what interests me. Certain skills are not prioritized in most of the traditional economy.
Thinking for yourself, knowing how to make the most out of life and helping others even if it doesn’t include the “bottom line” mentality, are all skills that might be learned better when working outside a traditional economy. By following my own guidelines and personal ethics, I want to be the kind of leader that I have truly always desired to be. It is the creation of my own business that that would give me the opportunity to form an identity that I’m proud of. The digital landscape makes it much easier to serve more people which will benefit the world in general.
The digital landscape is here, are you ready?
The digital economy offers a freedom that is hard for me to ignore. I can recommend that anyone who wants to become the best version of themselves and build something that you can be passionate about should consider this transition.
There was a time in my life I was comfortable miserable until I discover other ways to make a living. If you are anything like me and you are tired of selling your time to a company. You had enough of convincing yourself to work every morning and sacrifice your time with people you love and your own goals and dreams for a paycheck.
Then I can truly recommend you to join community thousands and an education platform that changed everything for me. Many people have to change their lives. Never underestimate your inner potential of what you can accomplish.
Looking forward to seeing you on the other side, if not I wish you all the best wherever you are.