Why I started a Digital Business (and maybe you should too)

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.

digital economy

Source: Forbes

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.

5 Biggest Myths of Starting An Online Business From Home

If you are looking to start your first business from home, you may feel confused with many questions. How long will it take? Do I need formation to start my own business? Is it risky?

The potential of creating a business from home is so different from traditional job careers that it is easy to feel confused with these opportunities. You may think: I want to start my own business, but I don’t feel ready yet. 

At least, that is what people try to make you believe. Friends, family, and coworkers may have the best intentions to help you succeed, but they cannot guide you to make a change that they never did. Here are five limiting beliefs that you have heard over and over again and how to overcome them.

You Need Experience And Skills

People know that entrepreneurship requires a lot of initial work which can be easily confused with formation and training. Entrepreneurs work more than normal professionals because they control their results and want to reach their destination faster. 

Now, If I want to start my own business, I don’t need to be an expert at everything. All that is necessary is focusing on your strengths and hiring others to do what you don’t know. Does your idea require coding, copy-writing, advertising, or market research? Hire a freelancer to work on it while working on your business from home. It’s also possible to learn that skill as well with all the training that is available today.

The only objective of the entrepreneur is to solve problems and give value to others. That involves managing your resources and present the solution to the public. You may be surprised at how many digital entrepreneurs sell online courses and hired other people to create their content.

You don’t need technical skills as an entrepreneur, but having enough problem-solving and creativity skills to add value to others.

You Need A Lot Of Money To Start

Who would ever start a business from home without money?

Of course, you need some funding to get started but far from the same amount as you would have in a traditional business.

That is a myth that comes from traditional businesses, not online businesses. Real businesses need to hire people for each department, deal with random expenses, product creation, logistics, and whatnot. 

The best way to start my own business is to use the Internet to make others take care of those costs. There are programs such as Amazon FBA where the company lends you their customer base and delivery service for free. Some businesses require almost no money to start, such as affiliate marketing.

You may not need any investment at first, but you should eventually invest in the business to scale and grow it faster.

When I start my own business, I’ll have absolute freedom

When people start a business from home to be their own boss, they usually do it to escape from their 9-to-5 jobs. To their surprise, the initial work of an entrepreneur requires much more sacrifice and commitment than being an employee.

Again, entrepreneurs don’t run away from problems but solve them. You cannot become successful with an Escape mentality.

The degree of freedom than you get is relative to the business model that you choose. If you start a business from home, it will generate passive income and give you freedom at some point. The part that people don’t get is the enormous work required at the beginning.

Of course, freedom is one of the objectives to start a business from home. Everybody can start a business, but only people who understand the process can win. You should only commit to these projects if you can understand and deal with the compromise. 

It Is Too Risky

The biggest shift from 9-to-5 jobs to entrepreneurship is the perception of risk. As a worker, there are many things out of your control: your boss, the economy, your health, your paycheck, or your coworkers.
Any mistake that you make as an employee can lead to terrible scenarios.

If I start my own business, things change. You increase your success chance with every mistake because you get experience, new things, and condition your mindset.

Successful employees need to do everything right without mistakes for forty years. Successful entrepreneurs only need to get it right once to win in business. Which one would you take?

I can start my own business and chase money regardless of value

Some people never understand the way businesses work because they only use consumer mentality. The producer mentality is about creating value with a product or service and make money with it. Value is about helping people by solving THEIR problems and giving THEM benefits.

That is right. People give money when they get something, regardless of their own interests and passions. If you want to do what you love, you should make sure that your passion has enough demand first. The priority is thinking about others, so you can eventually have enough freedom to do what you love.

If you want to learn more about the digital landscape and how to build your own business online you can get started here.

5 Simple Hacks to Work Smarter and Be More Effective

There are plenty of people who deeply underestimate the ability to work smarter and not harder. While hard work is its own reward, it’s better to exert it in situations that require it. In many situations within the workplace, you just need to become more strategic and smart about the way you approach your work.

When you do this, you’ll become even more effective. If you’ve found yourself in a rut where you struggle to complete tasks to the best of your ability, it’s time to examine your workflow and consider a different approach. With the following five hacks, you can implement a strategic plan that’ll help you become more effective, confident in your abilities and productive. 

1. Avoid the temptation to multi-task.

There’s a term called decision fatigue. It’s when people struggle to make the right decisions because they’ve made so many throughout the day. Decision fatigue tends to happen closer toward the end of the day. In order to eliminate decision fatigue, notable figures like President Barack Obama and Mark Zuckerburg of Facebook tend to wear the same look each day. That’s one less decision they need to make. This frees their brain to focus on the most important decisions of the day. 

If your brain needs space to focus on one singular task at a time, it’s a terrible idea to get into the habit of multi-tasking. Too often, people see multitasking as a sign of efficiency and productivity. Truthfully, your brain can only comprehend so much at a time. Knowing this, it’s best to work smarter and focus on one task at a time when you’re ready to work.

If you’re taking a conference call, focus your attention on taking the call. Don’t try to write a full-fledged email while you’re on the call. You can make a costly mistake that way. Once you focus on the task in front of you, it’ll be easier to process what’s happening. You’ll also get through each task in a shorter amount of time. 

2. Eliminate distractions.

One of the biggest distractions of this generation is technology. More specifically, tons of people waste a lot of time on social media platforms. They mindlessly scroll for hours on end. As a result, they look up, three hours have passed and they’ve missed the opportunity to work smarter. This is the time you can’t get back. Knowing this, it’s best to create a schedule for the scrolling. If you don’t want to give it up cold turkey, you don’t have to.

However, place your phone in an area where you can’t reach it. Then, be mindful of how often you go to check it. Set a timer that shows you how much time you’re actually scrolling. Work on decreasing that time by fifteen minutes each week. You can reward yourself by designating a few minutes each evening to scroll through all that you missed during the day.

However, it’s important to recognize when you’ve been using social media as a coping mechanism or an escape route from your actual life. Instead, work smarter by making your life better so that you don’t feel the strong urge to get lost in your phone. 

3. Get comfortable.

A supportive chair is golden when you have to sit for hours on end. Instead of sitting uncomfortably for hours, make sure to invest in a supportive chair that cushions your back well. If you prefer to keep your feet up as you work, find a footrest that you can use at your desk. If you’d prefer to stop sitting so much, this is a positive habit to consider as many studies suggest that sitting is the new smoking.

Many manufacturers have created efficient standing desks. You can use the standing desk to remain mobile while you’re getting lots of circulation and movement. When you’re comfortable, it’ll be easier to do your job well. If you tend to be hot at your desk, get a desk fan. Create the necessary environment in order to be as efficient as you need to be. 

4. Create time limits.

Since you’re not a robot, it’s going to be very challenging to sit up straight and type for eight hours straight. Instead of killing yourself with this type of rigid structure, create time limits for all of the tasks you need to take care of. It’s best to do the most challenging task first so that it’s out of the way. Plus, it can be a confidence booster when you tackle the challenging task. That momentum can spill over to the next task. Use a concept like the Pomodoro Method to keep track of your time as you work on longer projects. As you’re able to gradually build the time between breaks, you’ll increase your capacity to be effective for a sustained period of time. 

5. Take breaks.

When you’d like to work smarter, you need to consider breaks. You’ll be the most effective when you learn how to relax and take breaks. If you’re constantly working without recharging, you’re going to burn yourself out. In order to avoid this, schedule breaks for five to ten minutes at a time. Take a longer break at lunchtime. As you take breaks, step away from your desk to get a sip of water, walk around the building or run to the local coffeehouse. As you take the time to refuel yourself with breaks, you’ll work smarter, be more focused, more effective and sustain yourself for the long haul. 

As you work toward developing your expertise in these areas, recognize that it won’t happen overnight. As you’re working to change and shift your mindset in regards to work, you’ll need to unlearn a lot of habits that you’ve developed over the years. This can become a potentially frustrating experience.

The key is to be gentle with yourself. As you take it one step at a time and remember that the process is a gradual yet permanent change you’d like to make, you’ll be able to maintain a consistent rhythm towards becoming more effective and efficient within the workplace.