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Ask the Entrepreneurs: 11 Noteworthy Businesses Monetizing the Shared Economy

Ask the Entrepreneurs: 11 Noteworthy Businesses Monetizing the Shared Economy

Ask The Entrepreneurs is a regular series where members of those involved in the Young Entrepreneur Council are asked a single question that aims to help Lifehack readers level up their own lives, whether in a area of management, communication, business or life in general.

Here’s the question posed in this edition of Ask The Entrepreneurs:

Shared economy is big business. Name one sharing service that’s catching a buzz among your fellow business owners for making life easier.

1. SittingAround for Mompreneurs

    Babysitting coops is a concept that many mompreneurs find interesting in the early stages of startup when you can’t justify paying a babysitter or nanny, but you also can’t justify not. Sharing the responsibility with other trusted parents is a great way to work around the expense of childcare while building your business. Services like SittingAround makes it easier to manage!

    Jennifer Donogh, Young Female Entrepreneurs

    2. Soar With SurfAir

      SurfAir

      is getting a lot of buzz, despite not having launched or owning any planes yet. The concept is simple — “all you can fly” short-haul routes on small, private planes for a flat monthly fee, without all the hassles of big airports or the TSA. I’m hoping they succeed; it’s a great and very disruptive idea.
      Matt Mickiewicz, Flippa and 99designs

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      3. Exec Offers Assistant

        Exec

        , a new startup, allows you to hire an assistant for $25 per hour. A few of my startup friends use the service when they need to quickly increase temporary staff (i.e. during a big sales day). Another uses Exec staff to run personal errands, thereby freeing up the entrepreneur’s time to run her business. Sharing an hourly assistant provides incredible flexibility for startups.

        Aaron Schwartz, Modify Watches

        4. Carpool Through Ridejoy

          Collaborative consumption meets carpooling with Ridejoy, an awesome service that helps you find and share rides with friendly people across the country. Sounds scary, maybe, but it disrupts a market that too many people trust to Craigslist and opens up an entirely new one.

          Derek Flanzraich, Greatist

          5. TaskRabbit Gets It Done

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            TaskRabbit

            , the site that helps you get tasks done efficiently, is part of the collaborative consumption economy. Anyone can post a task that needs completion, and other people on the platform can bid to complete the task. Whether someone needs a courier, an editor, or someone to help set up IKEA furniture for the office, TaskRabbit is used a lot by business owners.

            Doreen Bloch, Poshly Inc.

            6. Overnight With Airbnb

              Business owners today are more mobile than ever, and sometimes we feel like we don’t have a home when going from hotel to hotel. Airbnb still allows us to stay in a home in the cities we’re traveling to and do it for rates that often trump the best deals you can get in a hotel. In the next few months, I’ll be in NYC a lot, and I’ll use Airbnb and the reviews there to locate where I’ll stay.

              Shaun King, HopeMob

              7. Coworking With Regus

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                Shared office space is great for small business owners who don’t have the money for an actual office, or for those who simply don’t need one. I used a shared space via Regus for several meetings with local clients. Also, sharing office space can provide you with a professional network, as you work side-by-side with like-minded individuals.

                Andrew Schrage, Money Crashers Personal Finance

                8. Settle Down via DeskWanted

                  DeskWanted

                  helps you find coworking spaces all around the world, which is fantastic for us entrepreneurs who are always en route. It helps you find coworking spaces that you can work at for the day, or meeting spaces to meet with clients or partners in the city you’re in.

                  Natalie MacNeil, She Takes on the World

                  9. Drive Anywhere Wtih Zipcar

                    Owning a car can be expensive for an entrepreneur trying to save money and stay lean. With Zipcar, I don’t have to worry about parking, gas, insurance, or maintenance! I can get to all my meetings and save money!

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                    Bhavin Parikh, Magoosh Test Prep

                    10. SnapGoods for Gadgets

                      SnapGoods

                      allows you to easy and safely rent/borrow gear or gadgets for as short as a day. It’s a great way to try out a product before buying it or rent a bike for the day.

                      Josh Weiss, Bluegala

                      11. Hire Help Through Zirtual

                        My Zirtual assistant saves me a ton of time each day. Given the excess demand for the service, you can’t sign up unless a current client invites you. If you message me, I’ll gladly help!

                        Kevon Saber, Fig

                         

                        (Photo credit: US Dollars with Coins in Front via Shutterstock)

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                        Last Updated on March 29, 2021

                        Life Insurance: A Secure Way To Protect Your Future.

                        Life Insurance: A Secure Way To Protect Your Future.

                        Life is a journey full of ups and downs. No one can actually predict what might happen the next moment; there are times where the happiest moments do not even take a second to turn into the gravest. Planning for your future can help you face such unwelcomed but irrepressible situations with much ease. We all want to make every memorable event of our life more special and to cherish all those moments happily and worry less, you must financially plan your future. But no one has control over life and death. Who would wish to see his family suffer in his absence? Insurance hands over the financial jeopardy of life’s happenings to an insurance company.

                        Importance of getting a life insurance

                        No one has control over life and death. Nobody would like to see their family suffering in an absence, and that’s why many people recommend life insurance. A life insurance plan is one of the best ways to secure the future of your family, even against those financial troubles after an untimely demise. These plans are safe and credible, and you could trust them for your family’s better future.

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                        On the other hand, a life insurance policy is a contract between a company (insurance provider) and policyholder in which the insurance provider ensures to pay a certain amount of money to the nominated beneficiary in case of the policyholder’s death during the term of the agreement. There are different types of insurance plans, and it is important for you to know the benefits of those plans such as a funeral, medical or some life expenses provided they are mentioned in the agreement.

                        Choosing the right insurance plan

                        If you’re about to select an insurance plan, you should consider some important factors:

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                        • The time at which you start investing in a program and the number of family members you want to get insured. Obviously, a married man with two children has different needs compared to a single one. The number of persons who are dependent on an individual also varies from person to person.
                        • The next thing you need to consider is you and your family needs. What are your child’s dream, your retirement plans, for how long would your dependents need financial support, any personal injury, etc. And do not forget those events or situations that will surely demand a huge sum of money.
                        • The next thing one must consider is your current income. You should preferably choose a plan which you can afford.

                        Now you must be having a pretty clear idea of how to choose the best plan for you. Further, you should also compare various plans offered by different companies and numerous sites available online that help will you to compare them.

                        Differences between life insurance plans

                        Here’s a short brief of some plan categories you can choose according to your needs:

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                        • Term Insurance Plan – You have to pay once, and your nominee gets the paid money under your misfortune demise. It ensures a person for a fixed time. If you survive the policy period, you do not get your premiums back.
                        • Whole Life Policy – This plan continues for your lifetime. Under this, the policyholder has to pay regular premiums, until their death.
                        • Endowment Policy –  In case the individual dies during the tenure, the beneficiary gets the amount assured. If the person survives the policy tenure, they gets back the premiums paid with other investment returns along with several other benefits.
                        • Money Back Policy – In this a portion of the money invested is returned to the investor at regular intervals. If you survive the insurance term you get the entire amount back; else the beneficiary receives the entire sum assured.
                        • ULIPs – These are the life insurance plans that offer you future security plus wealth creation options.

                        Many people do not opt for whole life policy and endowment policy because of the high amount of money you need to pay, while others may prefer to opt for these if they have a high life expectancy. Surely you will find the best one for you.

                        So what are you waiting for? Plan for your future and live a happier and carefree life today.

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                        Featured photo credit: aryehsampson.com via aryehsampson.com

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