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How To Profit From And Cash In On The Economy Of Ideas

How To Profit From And Cash In On The Economy Of Ideas

If you’re like most people, you’re interested in leading an enjoyable life. If you share even more in common with most people, you’re interested in making more money. Let’s face it: Money problems are something the majority of people face, and even when you’re making enough to survive, there’s always the allure of being able to accomplish something even more fulfilling, with a bit more dough.

However, it can seem like making money or starting a business is even more difficult than it used to be. And on one level, this is kind of true. But on another level, it’s never been easier (or more worthwhile) to get a business started. But in order to stay in the game long enough to truly be a business, change lives and make some cash, the new economy of ideas must be embraced.

Old Versus New

Let’s back up for just one second before we dive into the meaty stuff. The idea economy isn’t exactly “new”, but for the majority of people who have the desire and ambition to get a business going, it’s definitely still fresh. Exchanging ideas as goods and services, instead of the thousands of other products the world has known for much longer, is an enthralling opportunity.

Over the past 100-150 years, most of the developed world has been used to the “industrial revolution economy” – in other words, an employment system where individuals are monetarily compensated in exchange for their time as they produce some kind of service, product or task for a company. The world has seen large firms and small businesses, but one thing has been increasingly pervasive: The scarcity of time and money has thrust its way into the working class.

Little by little, growing numbers of people have become discontent with this scarcity, and rightly so. Before 1971, money in the United States was real money. In other words, all printed money was backed by gold, giving it real value. When you spent money and exchanged it for another good or service, this was as close as it got to real bartering.

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Money Changed In 1971

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    When Nixon took U.S. money off the gold standard in 1971, money became a currency, and its value has steadily dropped ever since then, because more and more has been produced. Any time more of something is produced, the value plummets. Just look at cars, many homes and pieces of artwork. Hundreds of examples of rare or exclusive (and therefore highly valuable) items in all three aforementioned categories can be found, because given examples in each category are regularly produced with value aforethought.

    When people grow dissatisfied enough with something, they typically look for or build a new solution. If you can create primarily intangible products and services and enact a new economy on them, you can in many ways leave the old one behind. Enter the new economy of ideas. (Remember; “new” is relative here, because certain individuals and groups have been engaged in the new economy for years.)

    For the typical American that relies on a job for their paycheck, it can be daunting and downright painful at times to learn about how to approach the new idea economy. This article seeks to break down the fundamentals of the idea economy, and how anyone can figuratively and literally profit from it.

    Ideas Are The New Economy

    Alright, we’ve talked enough about the changing pace of things; let’s dive into what ideas actually are, and how they can improve the lives of humans. An idea is a nugget of possibility. There are good ideas and bad ideas.

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    Obviously the good ideas are what improve the world, and that’s what you should be aiming for. Ultimately, the best ideas are translated into action, and receive enough reinforcement to bring about better results in the world.

    Ideas can be used as “currency” in the new economy, because ideas can be productized and applied to other businesses. In other words, one business or venture can benefit from the ideas of another. Ideas are ways to help other people (and occasionally yourself) patch up broken spots.

    Most importantly, ideas provide opportunity for freedom and expression. The light bulb was a new way to increase productivity and time for enjoyment. The Internet was a new way to bring people together, store information, disseminate information and deliver products and services. There are hundreds of new ideas around the corner; all we need to do as a global society is enact the discipline necessary to bring about good results from them.

    Information Products Are The Future

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      Info products are, in many ways, hybrids of two types of economic vehicles: The desire for info from an expert, and a commodity that is easily transferable and readily consumable. Hundreds of information products are already being made and thousands more purchased every day, and this trend will only swing upward.

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      An info product is convenient because it can be highly customized to the end user’s experience. Examples of info products are eBooks, audio recordings, online courses, videos, membership sites, interviews and podcasts.

      Now Is The Time To Become An Expert

      All of that being said, there’s no better time than today to become an expert. The best part is, you likely already are! But hold on. You’re probably saying something like, “Hey Brad, my friends have never labeled me an expert, and I certainly don’t consider myself one!” The truth is a bit more gray.

      When taking the concept “expert” at public face value, most people equate that with a college professor, an esteemed medical professional or perhaps a popular entrepreneur. In other words, someone who has spent the vast majority of their life pursuing one corner of the world, so to speak. Reality tells a different story. In truth, everyone’s an expert, because expertise is relative.

      Where Are You An Expert?

      lightbulb

        For example, if you love gardening and have been recreationally growing fruits and vegetables in your backyard for even five years, you know tons more than someone who shows passionate interest but is just starting. Obviously, this is even more true if you’ve been gardening 10 years or longer.

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        Utilizing this knowledge, everyone (in accordance with their hands-on experience and longevity in their given field) is an expert to most other people in the world. As another example, I’ve been drumming for close to 17 years now (most of my life). I’ve taught drums in formal and non-formal settings, as I’m able to provide reliable information for people who are presently dipping their toe into music. I’m positive the same scenario is true for you, give or take a distinct field of expertise.

        There Are No Excuses For Following Your Dreams

        There is more opportunity today than there ever has been in the history of the world combined. If you want to profit from and cash in on the new economy of ideas, you must start today. It’s true that seemingly every year there are more business opportunities than the last year, but this is no excuse to get lazy. Those who succeed are those who give themselves no other option.

        Grandparents of today could have only dreamed of the freedom, fluidity and empowerment that comes from today’s entrepreneurial and technological landscape. You have to utilize the freedom you’ve been given, or it will pass you by unannounced.

        Begin Developing Your Ideas And Creating Products Today

        The time to act is today. Those who live the life of their dreams are the ones who recognize that today is the only day they’ve got. So how do you actually make money from the new economy of ideas?

        Simply begin creating info products about what you’re already an expert on. As long as you’re passionate about it and committed to seeing it through, you will be able to reap the harvest of what you’ve already planted.

        Sometimes it takes longer than expected, but if you commit to the long haul, there’s always an opportunity to use what you’ve already created. Once you’ve built some products that can serve a market, start bringing it to them. Share what you’ve done with your niche and openly receive feedback.

        Get out there and make your dreams happen!

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        Brad Johnson

        Top 5 Kindle Author | Author of 10 Books

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        Last Updated on August 16, 2019

        15 Smart Ways to Approach Interpersonal Relationships at Work

        15 Smart Ways to Approach Interpersonal Relationships at Work

        Once you have embarked on your professional life, whether it is after college or high school, you will be making a transition to the workplace. If possible, it is good to find an employer that is flexible. In other words, one that possesses a culture that is diverse and tailors to the needs of its employees as a bottom line.

        But, even if you don’t land your dream job right away, there are many ways to improve your experiences within the workplace as you climb the career ladder.

        In the subsequent sections will be looking over ways to engage your relationships at work, including 15 ways to effectively approach interpersonal relationships at the workplace.

        1. Open Up Cautiously

        Depending on if its a startup, a small business, enterprise or corporation it’s important to be aware of your surroundings.

        Be mindful of how much you open up about yourself, specifically regarding your personal life. You do not want to give the wrong impression, so be careful how much or what details you divulge about being in a relationship or having children.

        You have to reach a certain comfort level and rapport with the rest of the staff to be able to engage in transparent conversations. A good general guideline is to stick to small talk.

        2. Observe Your Surroundings

        There will be times when we are summoned to have a leadership role or to undertake a project to lead a team.

        Try not to be too bold or overcompensate at every turn when there is a meeting or an interaction among other staff or employees. The last thing you want to do is to be the person who wants to monopolize every conversation and every interaction.

        Be a passive observer at first, and more often than not, you will learn a lot by letting others talk a lot about themselves.

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        3. Listen Actively

        It may seem redundant, but it is essential to practice the art of really listening to the other person.

        Developing interpersonal skills and connections with others at work comes down to listening. It is not just paraphrasing what your superiors or colleagues are trying to communicate; it is about understanding what is at the core and reading between the lines.

        Phrases like “I can see what you are saying” or “I can acknowledge your insight” are just some examples. Learn to empathize and relate with people with whom you have a genuine connection.

        4. Consolidate All Feedback

        When you learn to listen to others and to allow them to finish their thoughts you are on your way to be being a great communicator.

        One of the toughest tasks to accomplish is to include everyone’s voice. Don’t rely on shout-outs or trying to come up with the best answer. Including everyone’s voice is about listening to all suggestions and putting together an entire picture. When everyone feels part of the process there is great cohesion.

        5. Never Make Sweeping Judgements

        As person and a human being with compassion never make any assumptions about anyone.

        Just because they have a certain skin color, clothes or physical features, never make stereotypical or generalizations about anyone.

        6. Keep Emotions in Check

        Work-related stress is something we all have to deal with at some point or another. Whether you work in the public or private sector you will encounter stressors or stressful co-workers. In this case, it is good to keep open the lines of communications.

        Always ask to clarify how a person feels and where they are coming from. It is better to entertain these conversations before they make a person lash out or have a negative reaction. Ask to speak privately and get feedback. When you do this it really shows you care about what your role is and that you are a true professional.

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        7. Give Help to Others

        Having compassion and empathy for others is a noble attitude to practice.

        Though, do be careful about how much you want to get involved with colleagues at the office; it could jeopardize the nature of your work relationship and the roles you both have.

        It’s best to separate the personal from the professional and lend a hand by using your best judgement.

        8. Broaden Your Horizons

        Once you have worked in a company or an organization, things can get repetitive and dull. Sometimes we need to remember that we are human and need to fulfill certain responsibilities.

        Often we want to try to change things by introducing our best abilities or perhaps our inventions, but we need to be realistic. Change does not happen overnight, rather it is a long process.

        Step back and take a look at the big picture, and, put all your cards on the table to get perspective. Sometimes we approach situations in life from the wrong point-of-view.

        9. Be Optimistic

        This is probably one you have heard time and time again.

        When we suggest to have a positive attitude it does not mean to fake it until you make it, nor to conceal your feelings. This is not the case in this situation. Overall, you want to try to be authentic in how you are feeling, because life will throw curve balls that are beyond our control.

        10. Be Sensitive to Cultural Norms

        Whenever you are around other people within a professional workspace, do not make assumptions in trying to figure people out in an instant.

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        Some cultures discourage physical contact, while others may be inviting. Always be courteous, respectful and ask questions. It will not only make you more aware of others’ needs, but show that you are considerate of the differences.

        You do not want to get off on the wrong foot by being too friendly or too touchy. Just observe how people respond to your approach and let them lead the way of what is a safe practice to meet and greet the first time around.

        11. Show Professionalism

        How you interact and carry yourself around others will be the difference between a job promotion or losing your job. No matter what, always respectful and professional towards others.

        You will have an opportunities in life and at work, so showcase an outpouring of great and positive energy in the face of adversity.

        12. Get Involved with Activities

        When you are part of a company, there are often opportunities for organized activities outside of the office space.

        Sometimes it is worth exploring uncharted terrain and to get to know people in a different environment. Plus, you will have an opportunity to be seeing in a different light.

        Even though you are off the clock, keep your professional tenure and set boundaries. You want to be vulnerable, but not put yourself in a comprising position. Use your intuition and common sense to evaluate these situations.

        13. Get to Know Your Company

        With your smartphone or your laptop, you have at your fingertips a mine of information online. Just as you would do before a job interview, conduct ample research to get familiarized with what your company does and how its branding is perceived via the media or social networks.

        Rather than just focusing on doing your job and fulfilling the duties, see what the business is up to. It is fundamental to really know what organization you belong to. Get educated on what other ventures they are involved with as well as the ones that you are directly in the know about.

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        14. Learn to Problem Solve

        Problem solving is going to be a skill you will acquire with experience and by making mistakes. Furthermore, not only will you make mistakes but you will likely also sometimes fail. This is okay and is part of the natural swing of things!

        Learn to take responsibility for your actions and decisions. At the same time, do not blame others for coming up short. When you come forward with the truth and responsibility, your supervisors or superiors will take notice of your authenticity.

        One of the greatest gifts in life is fail and once you experience you start to get a different perspective on how to move forward at the job.

        15. Do Some Prospecting

        If you have coding, computer, language or other beneficial skills, be sure to pitch these at the right time.

        When you start out new at a company it is best not to show all your cards. It is like poker: don’t let others see if you believe you have the upper hand. Take time to get familiarized with your company and organization before promoting your outside skillset.

        You will know when to put forward your amazing talents, so proceed with caution.

        Conclusion

        Learning to refine your interpersonal skills is a lifelong process. In time, you will also became more effective and skillful after accumulating work-related experiences.

        Exert humility, understanding, compassion, and mindfulness and the rewards will come!

        Featured photo credit: Brooke Cagle via unsplash.com

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