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Important Things to Know About the Revolutionary “Share Economy”

Important Things to Know About the Revolutionary “Share Economy”

When we were kids, one of the first lessons we learned was to share. In a world where business is under increased pressure to be more socially responsible, easier on the environment and take a more active role in social issues, some businesses are getting the message.

The share economy is made up of companies like Airbnb, Elance, VerbalizeIt, Mechanical Turk, co-working spaces and numerous other services that unite those who have available goods and services with the people who need access to them.

The “share economy” is changing the way people access the resources they need. But it’s not all rainbows and puppies, there are downsides. If you are already participating in the new sharing economy or considering it, you need to know these nine things.

1. It requires companies to make better products

When a product is shared by a large number of people instead of just one person or family, a different level of quality is required. It gets passed around more and is subjected to more wear and tear. Cheap, throw-away products are no longer acceptable.

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2. It’s better for the environment

When you aren’t using something you own, you can share it instead of throwing it away. This saves natural resources. For example, we don’t have to manufacture a whole bicycle for each person who uses a bicycle only occasionally. They can use bike sharing to get access to a bike only when they want it.

3. It destroys jobs

St. Louis cab driver and ride-sharing critic Umar Lee, believes that car sharing facilitated by companies like Uber and Lyft hurts people by taking away their jobs. He says:

Driving a cab in St. Louis is a job that has allowed drivers to buy homes, raise families and send their children to college. Its not a plaything for me. I work six or seven days a week on this job (usually 10-12 hours a day) and that’s the money I use to support my children and pay my bills.

4. You can own less

The share economy lets you have access to things instead of owning them. If you want to use something, you don’t need to own it because access is an option. This saves money and resources and gives you the ability to have richer life experiences because the cost of access is reduced.

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5. It’s hard to regulate

In the traditional economy, regulation by the government is how we ensure safety and quality. When the parties providing and receiving the goods and services are distributed individuals, it becomes difficult to regulate. According to Jeremiah Owyang, share economy expert and founder of Crowd Companies, it’s also difficult to stop:

This is powered on mobile and social; the only way you can stop this tech-based movement is to stop the Internet.

The share economy depends on reputation instead of regulation.

6. It brings economic opportunity to everyone

Those who do not have the means to start a business or job opportunities available to them can make money by sharing their skills. Ryan Frankel, share economy enthusiast and co-founder of VerbalizeIt says:

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The shared economy model allows us to disrupt a traditionally broken translation industry, be a driving force for business internationalization and create job opportunities around the globe for those with a proven and tested skill-set.

7. Company growth is driven by reuse

In the legacy economy, company growth came from selling more products. Growth meant getting more people to consume more goods. Companies that facilitate the share economy grow when their customers share more of what they already have.

8. It’s harder to tax

It’s easy to tax hotels, cab companies and industries dominated by large companies, but when the service providers become distributed, as they necessarily do in the share economy, it gets messier, but not impossible. However, San Francisco recently reached an agreement with Airbnb to collect taxes on rentals in the city.

9. It helps people get access to resources they need

Resources that were previously inaccessible due to a higher cost of owning or purchasing them can made be more accessible. For example, entrepreneurs, who would have previously been limited to working out of a spare bedroom, can get access to workspace in a collaborative environment. Jason Deem, founder of Nebula Coworking, says:

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Coworking encourages innovation and experimentation by fostering a collaborative community of entrepreneurs who benefit from the diversity of skills and connections in the coworking environment. It also minimizes the risk of starting a new business by keeping costs low through the use of shared resources.

How to start participating in the share economy

You may find that you can benefit from both being a consumer and provider of shared resources. Begin by looking at things you own, but don’t use as much as you could. Start with your most expensive assets, such as your house, car, boat or other large, expensive items. Then research your options for sharing those things and making some money doing it.

Next, look at resources that you use. Think in terms of access instead of ownership. Research and understand your options for getting access to those things you want instead of owning them. You may find that you would be better off getting rid of things you own and accessing them instead. Or you may find that you can get access to things, like a boat via Boatbound, that you previously thought were inaccessible.

You’ll get the most benefit by participating on both sides of the sharing economy (consuming shared resources and sharing your unused resources). You might find that you can get access to more of the things you want and spend less money.

Give it a shot, it’s the future, so you might as well see if it will help you, right?

Featured photo credit: Ted Manasa via facebook.com

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Last Updated on May 22, 2019

50 Great People To Follow On LinkedIn, No Matter Your Industry

50 Great People To Follow On LinkedIn, No Matter Your Industry

LinkedIn is an excellent platform to network with great people to help you in your career and businesses. However, with over 575 million people on the site, who should you follow? This list will steer you to the right people to follow, organized by categories of expertise.

Job Search Experts

You will likely have several jobs throughout the course of your career, and you will constantly need advice on new trends and strategies out there in the job market. Here are the LinkedIn experts who you should follow on these matters.

1. Liz Ryan is the CEO and founder of Human Workplace. Her articles on job searching are filled with creative and colorful cartoons.

2. Lou Adler is the author of The Essential Guide for Hiring and Getting Hired.

3. Dr. Marla Gottschalk will help you make an impact in a new job.

4. Hannah Morgan runs CareerSherpa.net, where she gives expert advice on job searching and how to be more visible online.

5. Alison Doyle is the CEO and Founder of CareerToolBelt.com.

Management Experts

They say that people leave managers, not jobs. These experts in LinkedIn will help you become your employees’ dream manager.

6. Jeff Weiner. How can we leave out the CEO of LinkedIn himself?

7. Nozomi Morgan is an executive coach. She can help you transition from a boss to a true leader.

8. Mickey Mikitani is the CEO of Rakuten. He constantly shares his expertise in managing a global player in e-commerce platforms.

9. Andreas von der Heydt was the head of Amazon’s Kindle Content and now the Director of Talent Acquisition. He has extensive experience in management, branding, and marketing.

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Productivity Experts

By maximizing your productivity, you can win in all aspects of life. The following LinkedIn experts will help you win big in your career.

10. Gretchen Rubin is a happiness coach and the bestselling author of the The Happiness Project.

11. Carson Tate is the founder of Working Simply. She advises us to include play in our schedules.

12. Greg Mckeown is an essentialist. Part of being an essentialist is saying no to many things so that we can focus on the things that matter.

13. Brian de Haaff, CEO of Aha! Labs Inc. provides strategies on how to be productive and happy at work at the same time.

Marketing Experts

14. Sujan Patel is VP of Marketing at When I Work, an employee scheduling software. He is an expert in content marketing and he even shares his ideas on content marketing in 2020.

15. Megan Berry is the Head of Product Development at Rebelmouse, a content marketing and AlwaysOn powerhouse.

16. Sean Gardner will help you navigate the social media landscape. This includes how to use different platforms to help accelerate your career. He is also the bestselling author of The Road to Social Media Success.

17. Christel Quek is an digital and marketing expert. She is the VP of South East Asia at Brandwatch. Their products help businesses utilize social media data to make better business decisions.

18. Jeff Bullas is a digital marketing expert. His blog has over 4 million readers annually.

19. Michael Stelzer is the CEO and Founder of social media powerhouse site, Social Media Examiner.

20. If you’re looking for inbound and content marketing expertise, follow Dharmesh Shah, Founder and CTO of Hubspot.

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21. David Edelman is a McKinsey partner and is at the helm of the Digital Marketing Strategy Practice Department.

22. Dave Kerpen leads the social media software company Likeable Local. He is the author of Likeable Social Media: How to delight your customers.

23. Clara Shih is the CEO of Hearsay Social and the author of The Facebook Era.

24. Aaron Lee is Grand Master of Customer Delight at Post Planner. He is an excellent resource for everything social media.

25. David Sable is the CEO of Y&R, one of the largest advertising firms in the world.

26. Content marketing trumps traditional marketing these days, and who else better to lead you in this area than Joe Pulizzi, Founder of Content Marketing Institute.

Personal Branding Experts

Part of what we market in our personal career is our brand. When people hear your name, what kind of brand comes into their mind? What traits and qualities do they associate with you?

Here are some personal branding experts from LinkedIn to improve your own brand.

27. Dorie Clark is the author of Stand Out and Reinventing You. He can help you craft the professional image you’ve always wanted.

28. Dan Schawbel is the managing partner of Millennial Branding. If you’re a millennial, Dan is the guy to help you craft your personal brand.

Other Notable Experts to Follow

29. Lisa Gates is the expert to follow if you’re negotiating for higher salaries and promotions.

30. If you’re a Baby Boomer, Marc Miller will help you navigate the continually changing landscape of the workplace.

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31. To avoid getting your resumé moved to the “No” pile, read Paul Freiberger’s excellent advice.

32. James Caan provides insightful ideas on careers in general. He is also a serial entrepreneur.

33. Jeff Haden writes on various topics, such as leadership and management. He is the owner of Blackbird Media.

34. If you’re looking for expert business advice on getting new customers and keeping them, follow Jay Baer.

35. Suzanne Lucas, aka Evil HR Lady, is a great human resources specialist.

36. If you need help in using Twitter to boost your career, Claire Diaz-Ortiz can guide you in the right direction.

37. Ryan Holmes is the CEO of Hootsuite, a social media management tool.

38. Customers are the lifeblood of a business and Colin Shaw focuses on revolutionizing this customer experience.

39. Brian Solis often reflects on the future of business and how technology can disrupt our world.

40. Nancy Lublin provides advice on more lighthearted topics, which are perfect after a long day’s work. She is the CEO behind Dosomething.org, a portal designed for social change; and the founder & CEO of Loris.ai and Crisis Text Line.

41. Katya Andresen provides advice on how to manage your career. She was the CEO of Cricket Media and now responsible for the SVP Card Customer Experience at Capital One.

42. Gallup has created a system to test what your strengths are and how to use them at work. Jim Clifton is the CEO of Gallup.

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43. Adam Grant is a Wharton Professor and the author of Give and Take, which provides advice on why being helpful at work can accelerate your career.

44. Hunter Walk is a partner at Homebrew Venture Capitalist Company and has specialty in product development and management.

45. If you’re running a nonprofit organization, follow Beth Kanter for expert advice on this area.

46. Emotional Intelligence is necessary to succeed in your career, and Daniel Goleman is your expert for that.

47. Rita J. King connects science, technology and business.

48. Tori Worthington Rose is a Creative Director at Mary Beth West Communications, LLC. She has extensive experience in sales and digital media.

49. If you’re looking for some advice on how to use writing and personal content marketing to boost your career, follow Ann Handley.

50. Tim Brown is the CEO at IDEO and shares his insights on Leadership and Creativity.

These are just some of the key thought leaders and movers in various industries. They will provide you with constant inspiration, as well as the willpower to pursue the career that you’ve always wanted. Their stream of expert ideas in their respective fields will help you become well-equipped in your professional pursuits.

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Featured photo credit: LinkedIn Sales Navigator via unsplash.com

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