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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

nixon

    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

    notepad

      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 December 9, 2019

        How to Become Smarter: 21 Things You Can Do Daily

        How to Become Smarter: 21 Things You Can Do Daily

        Although many people believe intelligence is limited to those with high I.Q.s, there are a number of potential methods to boost one’s cognitive abilities and become more effective at various professional and personal pursuits.

        With enough motivation and determination, anyone can expand their mental capabilities and become smarter. Integrating new habits into your regular routine and providing proper stimulation can sharpen your intellect quickly and leave you inspired to take on new challenges each day.

        So how to become smarter?

        Brain health is an important key in complete physical health. The list below includes the best brain-engaging activities in daily life.

        Inviting Novelty

        To create new neural pathways and strengthen the brain, it’s critical for people to continually incorporate new experiences and information into their lives. At first, these moments might feel useless, but eventually, you will find yourself looking forward to quiet moments alone.

        1. Visit New Places

        Whether this means studying in a new coffee shop, taking a different route to work, or traveling to a different country, displacement is good for the brain. This might be difficult to recognize in the moment since it usually feels rather awkward – at least initially. At the coffee shop, you can’t order the “usual.” You have to study a new menu, pick something you have never tried before, and make a decision.

        While this seems simple, people enjoy the comfort of habit. We like to know what to expect at all times. When you travel to a new country, the language is strange, the customs are unfamiliar, and the culture presents a strange new rhythm of life. Adjusting to these new elements forces the brain to tackle new, unexpected challenges.

        Learning how to communicate through a language barrier forces the brain to develop creative ways to express needs and emotions. Listening to new music, trying new foods, and navigating foreign streets all work to challenge your brain’s capacity to adapt to new situations.

        2. Continue Your Education

        Adult education is one of the best investments of time, money, and energy you can make. While education is valuable throughout childhood and adolescence, adults often underestimate their ability to learn new concepts and skills.

        Challenge yourself to take a class, academic or creative. Voluntarily choosing to continue education provides a perfect opportunity for your brain to create new connections and build higher intelligence.

        Also check out these 15 Ways to Cultivate Continuous Learning for a Sharper Brain.

        3. Read and Watch the News

        This is one activity that maintains the appearance of habit while nurturing healthy brain waves. Setting aside half an hour every morning or evening to read a newspaper or watch the news will help your brain stay active.

        Digesting new information is a good daily habit. The news introduces interesting topics to consider, and will leave your brain churning with new information.

        4. Read

        Reading is the most basic way to facilitate brain activity, but it often presents some of the most diverse opportunities for stretching brain capacity.

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        Reading provides practical assistance by introducing new vocabulary, presenting examples of proper grammar usage, and showing the elegance of a well-written sentence. However, this is only half of the magic of reading.

        Whether you choose fiction, non-fiction, historical literature, or poetry, reading offers an opportunity for the reader to make big-picture connections between the literature and real life. In this way, reading is an alternative way to make your brain travel to a new place.

        As your imagination works to create tangible people, places, and experiences from the words on the page, your brain is rewiring to understand all the new information.

        Here’re some great books to read:

        5. Approach Work in New Ways

        The workplace is a canvas for new experiences. Regardless of what type of job you might hold, everyone is at one time or another presented with opportunities to think outside the box, problem solve in a creative way, and contribute fresh ideas to the team.

        Instead of stressing over each new problem, it’s important to relax and starting imagining alternatives for reaching an end goal.


        Challenging Yourself

        Like a weightlifter who develops muscles, one must exercise the brain on a daily basis, pushing it just beyond its current capabilities. As Albert Einstein once said,

        “One should not pursue goals that are easily achieved. One must develop an instinct for what one can just barely achieve through one’s greatest efforts.”

        This quote encapsulates what I believe about the brain. With enough focus and stretching, the brain can truly surprise people.

        Underestimating yourself holds you back from success. When people begin believing in their abilities, they often go beyond what they thought was possible.

        6. Do Brain Training

        Organizations like Lumosity offer fantastic daily brain training. With puzzles and games designed to increase neuroplasticity, Lumosity was created to challenge the brain to make new connections.

        A group of neuroscientists at University of California Berkeley developed this program to provide stimuli for the brain to push it to adapt and re-train itself in uncharted territory. Success stories abound concerning the results of this public experiment.

        You can also try these 11 Brain Training Apps to Train Your Mind and Improve Memory.

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        7. Ask 5 Whys When Encountering Problems

        One of the most standard problem solving solutions, the 5 whys still provide a solid start to uncovering the root of a problem.

        Asking a question gets the brain working to find an answer. Instead of worrying about the problem, always start by asking why.

        Learn more about this problem solving framework here: How to Solve Any Problem Efficiently with 5 Whys (Step-By-Step Guide)

        8. Eschew Technology to Keep the Brain in Shape

        Technology does wonders for the modern world, but in some ways, technological dependence stunts the brain’s capacity for problem solving, adapting to new environments, and being a reliable resource for practical things like simple mathematics and navigation.

        Try going on a trip without a GPS. Work a few algebra problems without a calculator. Make your brain work for you; you’ll see the results.

        9. Foster Creativity

        Finger-painting in preschool was not only a fun activity; it helped open up the mind to new possibilities and ways of solving problems. An artistic mindset creates new opportunities to find new solutions, fresh inspiration, and peaceful confidence.

        The blend of these elements in both personal and professional environments allows ordinary people to shine by becoming an innovative thinker and inventive leader. Find ways to incorporate creativity into the dull grind of daily tasks.

        Take a look at these 30 Tips to Rejuvenate Your Creativity.

        10. Draw

        You don’t have to be an artist to appreciate the benefits of drawing, which cultivates brain activity in a unique way. In addition to nurturing basic hand-eye coordination, it sends synapses to neurotransmitters to help more permanently and vividly store your memories.

        From doodles on a piece of scrap paper to charcoal portraits, drawing is a healthy brain activity for everyone.

        11. Paint

        Painting is an extension of drawing. It feeds the same areas of the brain; but unlike drawing, painting often introduces new and unfamiliar textures and colors to stimulate the brain.

        Painters often have a keen sense of awareness towards their surroundings. Engaging in painting encourages people to notice minute details of the world around them. Focusing the brain in this manner brings a heightened state of alertness.

        12. Play an Instrument

        Learning to play an instrument also has outstanding benefits for the brain. Hand-eye coordination, memory, concentration, and mathematic skills all improve through playing an instrument. While some are more challenging to learn than others, any instrument facilitates increased and improved cognitive functioning.

        From training your fingers to master complex musical passages on the piano to counting the beats in a musical measure, instruments force various regions of the brain to work together to create music.

        13. Write

        Like reading, writing encourages vocabulary growth, grammar skills, and use of proper syntax. Writing helps the brain store information more effectively and fosters better memory skills. Studies show that students who regularly take handwritten notes during college classes consistently score better on tests.[1]

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        Writing forces a person to pay attention to their memories, experiences, and internal dialogues – a combination that increases brain function altogether.

        Learn more about the benefits of writing: 5 Benefits of Writing: Why You Should Write Every Day

        14. Role-Play

        Put yourself in someone else’s shoes, and your brain starts to rewire to help you think like a different person.

        For those struggling to form creative ideas, role-playing can help the wheels start turning in the brain to help develop unique solutions for difficult problems.


        Working with Others

        Although logical intelligence is important, emotional intelligence plays an equally vital part in overall success. Interacting with others helps people expand beyond their own limited thinking, gain new ideas, and see things from a different perspective.

        People are challenging. Smart people often enjoy isolation because it protects them from being critical of others. However, this discomfort is necessary for truly smart people because it pushes them outside their bubble.

        When you start to believe you have all the right answers, start collaborating with others to expand perspective.

        15. Teach and Share Information with Others

        Whether this is achieved virtually or face-to-face, pursue colleagues and peers to share experience and wisdom. Fresh faces and new ideas spur inspiration and create an amplified learning environment for the brain.

        By creating a network for sharing ideas, your brain starts developing a new network for formulating and executing innovative concepts.

        16. Talk to Interesting People

        No two people share the same life experiences. Everyone interprets information uniquely, stores memories differently, and digests daily life with their own intellectual flare. This makes collaboration a necessity for brain health.

        Although we are all inclined to think our method is the best approach, gaining perspective from another person helps our brain consider new solutions and new techniques for both personal and professional issues.

        Whether the conversation is centered on religion, finances, politics, or diet trends, people should practice being a good listener. Silencing your own thoughts while the other person speaks is often challenging, but the brain needs discipline to stay sharp.

        17. Work in a Team Environment

        Collaborative environments are essential for enhancing brain activity. Some people who enjoy working independently dread the moment when they are forced to participate in a team-focused workplace. However, these independent individuals are highly intelligent and can benefit the most from a little teamwork.

        Author Steve Johnson’s book, Where Good Ideas Come From, focuses on the benefits of collaborating with peers and coworkers to develop original ideas and effective strategies for their execution. The modern workplace continues to shift towards this team-oriented approach.

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        Cultivating Physical Health

        The body feeds the brain, and keeping oneself in top physical condition is crucial to adequate fueling and operation of the brain. Lack of motivation, mental fatigue, and absence of inspiration are typically connected to poor exercise, diet, and focus.

        18. Exercise

        Studies constantly show people who exercise regularly have higher I.Q. scores.[2] In addition to maintaining a strong body, people who exercise regularly actually stimulate brain cell growth. A process called neurogenesis occurs during rigorous exercise, which increases the production of neurotransmitters. With side effects like increased dopamine, active people enjoy less stress, better concentration, and more energy.

        Dr. Michael Nilsson of Sahlgrenska Academy and Sahlgrenska University Hospital in Sweden conducted extensive research on the topic.[3] “Being fit means that you also have a good heart and lung capacity and that your brain gets plenty of oxygen,” the doctor said. His research focused on over a million Swedish military men, and Dr. Nilsson found a direct correlation between physical fitness and high scores on I.Q. tests.

        19. Pursue Athletics

        Multiple studies have shown active children typically do better in school and have a better chance of continuing their education after high school graduation. Although athletic pursuits can feel grueling at the time, the overall benefits of intense physical activity are wise for your future.

        Whether it’s finding one thing you are good at, like basketball, running, or lifting weights, or trying something new every day, maintaining an athletic routine is important for optimal brain health.

        20. Meditate

        Controlling and calming the brain is as powerful as enhancing activity through instruments and puzzles. Doctors have been studying the effects of mediation on the brain for several years, and the results are impressive.

        In one famous study, Dr. Richard Davidson of the University of Wisconsin collaborated with the Dalai Lama to study what happens to the brain during meditation.[4]

        Transcendental Meditation yields impressive results for the brain. People who struggle with fear, anxiety, depression, and other mental ailments should experiment with meditation to calm themselves and develop a stronger sense of focus.

        Here’s a The 5-minute Guide to Meditation: Anywhere, Anytime to help you start meditating.

        21. Maintain a Nutritious Diet

        Children and adults interested in boosting brain activity should begin by transforming their diet. Research from the University of Bristol in England points to a strong connection between unhealthy diet and low I.Q. scores in children.[5] To begin reversing unhealthy tendencies, try cutting out excess fat, sugar, and fast foods, and start adding more vegetables, fruit, and lean meats. These 12 Best Foods That Improve Memory and Brain Health are good for you too.

        There are also a number of unusual drinks proven to help brain function. Matcha green tea, raw cacao hot chocolate, and ginkgo biloba tea all show benefits for the brain. Some scientist claim ginkgo biloba helps pump more blood to the brain, improving circulation.

        The Bottom Line

        Creating daily routines to promote healthy brain activity doesn’t require the advice of a neuroscientist. While plenty of studies provide convincing evidence, increasing brain activity can be accomplished with a few basic steps.

        Be intentional about your time and energy to start working towards a smarter and more fulfilling life.

        More to Boost Your Brain Power

        Featured photo credit: David Iskander via unsplash.com

        Reference

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