With talks of saturated markets and robots taking over our jobs, there’s a lot fear surrounding the future of how people will be earning a living in the future. Are there threats to our money? Yes, constant ones. However, there are things you can do to ensure you’ll always make money.
The reality is that economies changing is nothing new. It’s been happening since the beginning of human history. However, there are some things that have always remained constant. Here’s how to make sure you’ll always make money even when everything changes.
Find your spot in one of three essential niches.
I used to jokingly say that if someone’s business involved either food, money or sex then they would be set for the rest of their lives. It turns out I wasn’t that far off.
The reality is that there are three basic human necessities that ensure our survival and quality of life – wealth, health and relationships. Everything somehow goes back to these three things. Your job, therefore, is to find where your business fits into one of these three categories so that you can always make money.
For example, I’m moving into digital marketing and brand consulting. That fits into wealth because I teach people how to increase their income.
Now let’s look at something less obvious, like eco consulting for homes and businesses. This can technically fit into health and wealth. It’s health because eco-friendly spaces are better for our health. It’s also wealth because saving money on energy costs means more money in our pockets.
Establish yourself as an expert.
A robot can take over any skill. And I literally mean any skill. Take writing as an example. Something that is seen as difficult by many can be mimicked with software.
So where does that leave us, writers? Up the creek without a paddle that’s where.
But do you know what a robot or some software can never take? Your brain. That’s why I make the argument that people should position themselves as knowledgeable experts in their field.
If you establish yourself as a go-to person, people will keep wanting to give you their money just for the chance to work with you. There’s no way technology can replicate that, which is why this ensures you’ll always make money.
Create multiple streams of income.
I feel like I’m beating a dead horse here, but it needs to be said. If you want to ensure that you’re always making money you need to build multiple streams of income. That way when one stream goes through a rough spot you still have money coming from somewhere else.
Make it easy for people to pay you.
On a more technical note, you’ll always make money if you make it easy for people to pay you.
The reality is a lot of people make getting paid more complicated than it actually has to be. Because of this, I often coach clients through the process of creating better systems for receiving payments in an effort to increase cash flow. With the proper systems, they can ensure they’ll always make money because they’ve made it easy and convenient.
There will always be fears about changing economies. While some of the fears are valid, you can mitigate the potentially negative impact by following the steps laid out in this article.