Solutions In The Age Of Job Security Decline

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This is an unpublished piece I wrote back in May 2017

Today we are living during an extraordinary time where technology is advancing at an exponential pace. The growth of the internet and powerful emerging technologies like Artificial Intelligence are disrupting industries and jobs that were once considered safe. It seems to me that the traditional Industrial Age job seeker 9-5 modal of working and job security are in decline. Replacing this is the rise of the precarious gig economy of job scraps with zero hour contracts.

Any job where the work is repetitive and/or is work where there are patterns in the tasks is most certainly at risk from potential automation. In fact the whole notion of ‘a job’ is changing. Restricting yourself to the mindset of solely looking for work is restricting yourself to a periodically shrinking pool of increasingly scarce opportunities. On the other hand, if you can move away from the mindset of a job seeker to one of a job creator or entrepreneur than you have already prepared yourself. That is the new job security.

 

Solutions for Workers in low paid Unskilled Jobs

Low paid jobs such retail and bank clerk jobs, cleaning jobs, transportation driver jobs, factory workers and all kinds of call centre and admin work etc are the most at risk from automation. In fact many of the jobs in these industries have already been automated. It is important that people in these jobs take a moment to retreat and try to understand a bit more about themselves. What are your interests and passions? What inspires you? If you have a passion, say for example, for cooking or gardening, you could start a blog and connect with people and impart some unique and sought after tips and extend this into offering a paid service like cooking or gardening classes/workshops. There are also more potential revenue streams like providing advertising space on your website especially if you have lots of subscribers and followers. You could also focus on a more specialised form of something that you are passionate about which would make you stand out if the market of the area you are focusing on is overly saturated.

 

Solutions for Professionals

Professionals in the medical, legal and financial services require more skills than people in low paid unskilled work yet it does not mean that their jobs are not immune from the potential threat of automation. As I already mentioned, it is important to understand and know what interests and inspires you as it can potentially be translated into a successful online business or project. Alternatively, if you are, for example, a lawyer working for a large law firm and you want to remain in the industry, you could start your own online law business in an area of law you are most interested in. In a way, AI will be very beneficial to the legal industry since super intelligent deep learning systems will be able to (and already are to a degree) crunch through reams of dry data and documents in far less time than a human can. This will have the added benefit of freeing up more time to work on more cases and more interesting aspects of law. Furthermore, all these new technologies will make running your own business easier, saving you both time and money.

 

Solutions for Creatives

If you are an artist, musician, writer or fashion designer etc, the most important thing is finding and connecting with your biggest and most loyal fans since they are the ones who will always willingly fund what you do whenever you try to sell your products and services. With the rapid growth of the internet and social network sites this is easier to do than ever before. All this enables creatives to potentially bypass middle agents and deal directly with their fans, meaning all profits go directly to you without any middle people taking a cut. Twitter is an indispensable social networking site for constantly networking, connecting and keeping your fans up to date with all your developments. Instagram was made for creatives and is a very powerful platform to network and showcase your uniqueness.

If you are a creative that is shy and feels uncomfortable with networking and are inexperienced in the business side of things then my advice is to find a trustworthy and experienced manager to do all the networking, promoting, funding and sales on your behalf in exchange for an agreed percentage of your net revenues.

It is very important that you are constantly connecting with your fans and making them feel a part of your creative journey, since if you ever wanted to raise funds for your projects via crowdfunding platforms such as Kickstarter, you will stand a higher chance of reaching your financial targets.

 

By Nicholas Peart

©All Rights Reserved

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A World Where Everybody Is An Entrepreneur Doing Something They Love

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This is an article I originally posted on Elixtacy on July 10th 2017

 

We are currently living in a time of great technological transformations. The internet has created enormous opportunities for individuals, entrepreneurs and businesses. The most clear game changer with the internet is the direct peer to peer contact it offers with all kinds of people from all around the world. It creates a fabulous opportunity to develop an online business or project in something you truly love and enjoy. In the process, you get to directly connect with many different people finding potential fans and clients who appreciate, love and value what you are doing.

 

Moving away from old Industrial Age model jobs

Currently many people are still stuck in Industrial Age jobs. These jobs are often of a repetitive nature even if, for now, they may provide a stable income and job security. And it could be argued that many people who do these kind of jobs don’t enjoy them (even if they may pretend that they do) and do them purely for the money. Yet these are the jobs most at risk from automation. These are not just jobs in the retail, manufacturing, construction, transport and basic service industries but also high skilled jobs in the legal, financial and, ironically, even tech industries (there will come a time when AI will be able to do most of the programming/data analysing jobs and create better software than humans can).

 

Tapping into your creativity 100%

When the above scenario occurs, instead of the dystopian reality that many predict, people will have a great opportunity to develop a business or project doing something they truly love. They will be using their creativity 100%. They will have to. They will have no other choice. It will be the most important “commodity” we have to offer. The alternative option is to be part of a society of “useless people” (a most disempowering term) who constantly lament about how they used to have a solid job and no longer have it due to automation. These are people who sadly haven’t tapped into their creative resources and the immense power within themselves. Instead they fail to change/adapt and are constantly stuck in the past. A very sad state of affairs but it doesn’t have to be like this!

 

The importance of using your initiative

In our current society only a small segment of the population use their initiative. Most people are crippled by fear, anxiety and low levels of self esteem to take the initiative to start their own business or project. They are more comfortable applying for a limited and dwindling supply of jobs. But one day in the future everyone may be forced to use their initiative. Yet it will be by utilising their creative gifts to their fullest capacity. After automation has made obsolete many jobs in existence our creativity will be king and the entire global economy will be full of individual entrepreneurs and startups all utilising their creativity and operating in something they love, which even benefits and contributes to society in a meaningful way. It will be a truly pure and direct sharing economy of people interacting and transacting with their unique services.

 

By Nicholas Peart

(c)All Rights Reserved

How 3D Printing Could Be The Biggest Thing To Affect Our Lives Since The Internet

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I’ve been very interested in 3D Printing for a few years now. What fascinates me the most about this technology is the awesome and unlimited potential it has. Currently it is still at a very embryonic stage in terms of its development but, like the internet before it, its potential is enormous. 3D Printing has the power to transform and effect many different industries. I am listing a few of these industries below.

 

The Manufacturing Industry

This is the industry which I think will be most affected by 3D Printing. Already large segments of the global mass manufacturing industry are automated via Robotics and AI. As 3D Printing develops and evolves more and more, it will be able to greatly increase the productivity of this industry and even contribute towards automating it to even greater levels than robotics. In fact, 3D Printing may even have the power to completely disrupt the entire mass manufacturing industry. This is especially true after this technology has become truly mainstream and every home not just has a basic 3D printer, but one that is capable of printing almost any kind of 3D object imaginable using just the basic raw materials. Once 3D Printing has got to this stage of development and has matured as an important consumer technology, then one could say that every household is a factory. People would be able to create and customise any physical good they want through simply taking the designs of the products and applying them to the 3D printer. This could severely disrupt businesses whose business model is based mostly on manufacturing goods, especially at the mass level.

 

The Construction Industry

The construction industry is the next obvious industry to be affected by 3D Printing after the manufacturing industry. As with the manufacturing industry, it has the potential to increase efficiency and productivity as well as save costs and time. The construction industry is also a potentially dangerous industry for human labour and any building physically constructed by humans will always be vulnerable to flaws and errors. Yet 3D Printing with a double dose of robotics and strong AI has the potential to create buildings more robust and in less time than humans can and without the labour costs involved. And as these technologies develop further, it will be possible to 3D print entire cities. And why stop at building on dry land? Perhaps one day in the distant future when these technologies are at a level far greater than our comprehension, it may even be possible to 3D print domed cities under water. A crazy notion but with out of this world technology anything is possible.

 

The Medical Industry

The medical industry and our lives and health have the power to be greatly augmented by 3D printing. Already the technology has the ability to print prosthetic arms and legs. Yet 3D printed bones and organs are a real possibility. 3D printed organs will already reduce the enormous waiting list of patients waiting for organ transplants, especially for kidneys and livers. And what if the 3D printed organs were more developed and healthy than the healthiest of donated organs? 3D Printing combined with other groundbreaking emerging technologies in the biotech sector like stem cell technology, genetic engineering and nanotechnology have the power to achieve this.

 

I am looking forward to experiencing how 3D Printing will further develop and more importantly how it will greatly assist and make our lives easier as well as being an amazing resource to make our lives more efficient and aid us in reaching greater heights. Already there are a number of growing 3D Printing start ups and businesses all trying to further develop this amazing technology.

What is becoming increasingly clear with the way emerging technologies are developing, and will develop, is that our ideas and creativity will be our greatest assets. These technologies will help us expand our ideas and creativity and realise them to the greatest levels possible.

 

By Nicholas Peart

©All Rights Reserved

Is Now A Good Time To Buy Gold?

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This is something I’ve been thinking about a lot these last few months. Looking at all the current global events including the upcoming US elections and the sense that the world is becoming increasingly unhinged, could gold (and by extension other precious metals such as silver) be a good place to put some of your savings/hard earned cash into?

Gold has traditionally been the place to put your money into during times of global unrest. Out of all the world currencies, the US dollar is often seen as the main currency. If you live in a country where the local currency is notoriously unstable, it is often seen as a smart idea to have any cash savings in US dollars. Especially since, unlike other major currencies such as the Euro or British Pound, the US dollar is accepted absolutely everywhere. Yet what happens when even the US dollar becomes unstable? This is where gold comes in.

All paper currencies, whether you have US dollars or Zambian Kwacha, are all just that; paper currencies. Furthermore, if the government wanted to, it could print more and more of its currency thus increasing the money supply and triggering inflation which reduces the value of a country’s currency against other currencies. Unlike paper money, gold is highly prized for its scarcity.

Gold can be seen more as a security to protect your money as opposed to making money. Of course if you buy gold at $1,300 an ounce and the price a few months later is $1,600, you would have made a nice profit if you ever decided to convert some of your gold back into cash (and conversely, if the gold price went down to $1000 and you needed cash you would be selling your gold at a loss).

There are also of course digital currencies out there with Bitcoin being the the most well known, established and traded of all the global digital currencies. Even if digital currencies may be seen as the future of money especially with the Bitcoin (which was once the pariah of the financial world) becoming increasingly accepted and recognised as a legitimate global currency, this is a world where my expertise is limited. I am also scared by the high chance of wild fluctuations and the whole intangibility of it all. Gold just seems less complicated. It is a precious tangible metal with a limited supply and that is all I need to know.

Looking at the gold price chart of the last twenty years, gold has already had a hell of a run going from a low of just $252 an ounce in 1999 to a high of $1889 an ounce in 2011. The current gold price as I write this article is $1307 an ounce; still several multiples of its 1999 low yet a good chunk lower than its 2011 high. Some say that the gold price could surpass its 2011 high and breach the $2000 an ounce mark if the world really did begin to tilt off its axis and spin in some crazy time signature. Yet predicting the future price of gold is a fool’s game. What I can say with ‘certainty’ though is that during times of ‘uncertainty’, gold is a good thing to have.

 

How To Purchase Gold

Gold can be purchased physically in the forms of established gold coins and gold bars. It can be good to personally own some bits of physical gold and keep them in a safety box (or dig a deep hole somewhere in your garden to hide and store them – just make sure you don’t forget where you put them!). On the other hand having lots of physical gold in the house can create a feeling of insecurity. If you are lucky enough to have a big gold pile, it would be best to keep it in a robust security vault by an established and reputable firm. Below I am listing some useful contacts…

Apmex based in Oklahoma, USA, is the world’s largest online retailer of precious metals selling more than 10,000 gold, silver, platinum and palladium products in the form of bars, coins, bullion, rare collectible editions etc.

BullionByPost based in Birmingham, UK is the UKs largest online gold dealer and a good contact to have if you are a UK resident.

For Australian residents, The Perth Mint is a good contact.

Other established global gold/precious metals dealers include the Canadian company Kitco and the Indian company RiddiSiddhi Bullion Limited.

The London based company BullionVault is an online peer to peer gold and silver bullion exchange. Since its founding in 2005, the company has been very successful. This is also a great place to trade gold and silver if you don’t have much money at your disposal since there is no minimum amount of gold or silver you can trade. BullionVault charges a flat 0.5% – 0.05% fee per trade depending on the amount of gold or silver you buy or sell. The other additional costs are the annual fees for storing and insuring the gold and silver you purchase which are 0.12% (0.01% per month – $4 minimum) of the value of your gold and 0.48% (0.04% per month – $8 minimum) of the value of your silver

 

By Nicholas Peart

5th November 2016

(All rights reserved)

 

image source: http://www.therealasset.co.uk 

Who Moved My Cheese? Dealing With Change

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Who Moved My Cheese? by Dr Spencer Johnson is a fantastic little book, originally released almost 20 years ago, about how one can successfully deal with change. The story features four characters; two mice called Sniff and Scurry and two little people named Hem and Haw. The mice represent the simple parts of ourselves and Hem and Haw the complex parts. Sniff ‘sniffs’ out changes early and Scurry ‘scurries’ into action. Hem blocks and fears change and as a result remains stagnant whereas Haw is more open and willing to adapt to change as he sees change leading to something better. Haw is prepared to ‘move with the cheese’ whilst Hem perpetually moans ‘who moved my cheese?’.

For Haw it’s not just about acquiring more cheese. He is just as excited by the journey, challenge and adventure of finding it. So even if he failed in his quest to find more cheese, the buzz of trying to find more is more satisfying than simply complaining about having no cheese left whilst feeling trapped and always remaining at the same station without ever moving.

Initially, I assumed the book to be more of a manual to achieve success professionally. A book for businesses. But it is much more than that. The story is timeless and up there with the greats like The Prophet and Aesop’s Fables.

In my life I have played the roles of all of these characters. Yet it has been the character of Hem who I’ve played the most. Those times of fear, procrastination, denial and sabotaging my happiness, which have affected my life. These emotions have always anchored me to the same station and very soon I become trapped. And even when there’s cheese remaining, it’s taste is different and it’s just not satisfying anymore. Clawing at this remaining cheese doesn’t pump my heart or nourish my soul or spice up my life.

Sometimes I want to ask ‘who put this brain inside of me?’ Some may sniff (no pun intended!) at the brain of a mouse and how it lacks the complexity of a human brain but precisely! It deals in simplicity and basic instincts and doesn’t have any of this crazy emotional baggage which wrecks havoc on our lives. Their skills to move on and adapt are more advanced than ours. They don’t waste time unnecessarily overanalysing things.

Expanding on this short story, is it enough to settle on finding just any cheese station? It is one thing setting off and finding more cheese, but more specifically, are you after a particular kind of cheese? Cheese is a metaphor for all kinds of things. This could be money, a certain possession, a fulfilling job, a certain type of partner, a new experience, excellent health, happiness, inner peace etc. – it can be anything you want.

What is my cheese? Perhaps for me the best type of cheese is the one called Self-Discovery or Self-Knowledge. The more I get to know myself the more of this cheese gets accumulated. Even if at times the journey is painful, as I navigate the maze to find more of this type of cheese, I invariably get hopelessly lost, demoralised and insecure that I will never find more of this Self-Knowledge cheese on the less travelled roads of the maze. It is much easier and less painful to search through the more accessible routes of the maze of life and look for more ordinary cheese. A station containing enormous slabs of mass produced mild bland cheddar may be enough for some and there is nothing wrong with that – each to their own. But what a thing it would be to find a cheese station containing some of the rarest, most exotic and tastiest cheeses. Rich and irresistibly creamy and tangy flavoured French and Italian cheeses for example.

Yet the paths of the maze to reach the stations containing these cheeses can be emotionally treacherous and many have lost their heads and their minds, and simply given up. The roads on this maze are not well paved and well lit 10 lane highways where one can idly cruise and be off their guard. Oh no sir! If only!! These roads are more like narrow hazardous Himalayan passes at least 5000 metres above sea level where just one minor slip could be fatal. It is challenging and demands full concentration but what a buzz to travel on those roads! Once you’ve travelled on those roads travelling on all other roads is a piece of old piss. In fact, after having successfully navigated those roads, travelling on those well lit 10 lane highways becomes an insufferably dull experience. You then almost become allergic to Hem!! Hem is fearful of change but you become fearful of ever ending up like Hem. You begin to embrace change like most people walk through their front door.

This is an indispensable book. Short, concise, to the point and it may even change your life and your ways of thinking for the better.

 

by Nicholas Peart

2nd June 2016

(All rights reserved)

 

The Curve

The Curve is an innovative and groundbreaking concept by Nicholas Lovell. His excellent book The Curve (2014) explains how one can survive and be succesful in what they do in the context of the current Digital Age where many things are free. This is especially true if you are a creative person such as a musician or a writer struggling to make ends meet in a world saturated with Free Content.

The video below is a presentation by Lovell where he explains the Curve model and the significance and relevance of it today…

 

Nicholas Lovell explains The Curve

 

The Curve is split into three parts;

  1. Use Free to find an audience
  2. Use Technology to be able to talk to your audience again
  3. Use Technology to understand what your audience wants

 

The model of The Curve focuses on two groups of people; Freeloaders and Superfans. Freeloaders make up the bulk of your potential audience. They want something for nothing but that doesn’t mean that they should be ignored or treated with contempt. On the contrary, they should be viewed as ‘potential converts’ rather than unscrupulous pirates. They may not always remain Freeloaders and may at some point down the line spend some money on your products and services.

Then you have your Superfans which represent a small fraction of your audience (perhaps 10%). They are the most important part of your audience since they are the ones who love what you do so much that they are prepared to spend serious money on your products and services. This is the part of your audience you should care for the most since it is through them you’ll be making the bulk of your revenues.

To further explain how the Curve model can be applied today lets take the example of a band trying to raise funds to make their next album. The fundraising sites KickStarter and Crowdfunding really take the Curve model to their bosom. A potential Curve model the band can use could be as follows;

1. FREE : Free download of new album.

2. $2-5: Live clips of the making of the album streamed directly from the studio

3. $10: CD copy of the album

4.$30: Vinyl copy of the album limited to 5000 copies

5.$50: Red coloured vinyl copy of the album limited to 1000 copies

6.$100: White coloured vinyl copy of the album limited to 500 copies

7.$250: Gold coloured vinyl copy of the album in a luxury box-set with booklet limited to 100 copies

8.$2000: Private acoustic gig anywhere – the buyer pays for all transportation. One hour slot. 10 slots

9.$5000: Private electric gig anywhere – the buyer pays for all transportation. One hour slot. 10 slots

10. $10,000: Private electric gig anywhere where the band play NAKED – the buyer pays for all transportation. One hour slot. 5 slots.

 

This is just a rough model I drafted up which is far from perfect (and maybe some of the prices need some reconsideration – hehe) yet the most important thing is that it very much embraces a ‘Curve’ model. The old way of making money through selling ‘units’ of your album at the same price worked perfectly well in the pre-Internet age but sadly not today.

by Nicholas Peart

14th May 2016

(All rights reserved)

 

 

 

You can download a free e-book by Nicholas Lovell entitled ’10 Ways To Make Money In A Free World’ by clicking on the following link…

 

Or you can buy The Curve by Nicholas Lovell by clicking on the link below…