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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 January 21, 2020

How to Increase Work Productivity: 9 Ground Rules

How to Increase Work Productivity: 9 Ground Rules

We all have those days when completing our assigned tasks seems beyond reach. With the temptation of social media, mobile games, and the internet in general—not to mention the constant bustle of people in the office—it’s easy to fall prey to disruptions and distractions at work.

So, what can we do about it? How to be productive at work?

While we don’t have a foolproof system that can completely eliminate disturbances and diversions, we do have 9 ground rules that can be applied to help give your productivity levels a boost.

Keep reading to find out our tips on work productivity.

What Does It Mean to Be Productive?

How to be productive at work?” is the age-old question plaguing employees and employers alike around the world. Regardless of where you work and what you do, everyone is always looking for new ways to be more efficient and effective.

But what does being productive actually entail?

Completing more tasks on your list or working longer hours doesn’t necessarily mean you’re being more productive. It just means you’re more busy, and productivity shouldn’t be confused with busyness.

Productivity means achieving effective results in as short amount of time as possible, leaving you with more time to enjoy freely.

It involves working smarter, not harder. It means refining processes, speeding up workflows, and reducing the chances of interruptions.

Productivity is best achieved when looking at your current way of working, identifying the bottlenecks, flaws, and hindrances, and then finding ways to improve.

9 Ground Rules on How to Be Productive at Work

1. Avoid Multitasking

Multitasking can give the impression that more tasks can be accomplished as you’re doing multiple things at once. However, the opposite is true.

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Research has shown that attempting to do several things at the same time takes a toll on productivity and that shifting between tasks can cost up to 40 percent of someone’s time.[1] That’s because your focus and concentration is constantly hindered due to having to switch between tasks.

If you have a lot of tasks on your plate, determine your priorities and allocate enough time for each task. That way you can work on what’s urgent first and have enough time to complete the rest of your tasks.

2. Turn off Notifications

According to a Gallup poll, more than 50 percent of US smartphone owners admit to checking their phones a few times an hour.[2]

Switching off your phone—or at least your notifications—during work hours is a good way to prevent you from checking your phone all the time.

The same applies to your computer. If you have the privilege of accessing social media on your work desktop, switch off the notifications on there.

Another good tip is to logout from your social media accounts. Therefore when you feel the urge to check it, you might be swayed because your page isn’t so easily accessible.

3. Manage Interruptions

There are certain disruptions in the office that are unavoidable such as your manager requesting a quick meeting or your colleague asking for assistance. In order to deal with this, your best approach is to know how to handle interruptions like a pro.

Be proactive and inform the people around you of your need to focus. Turn your status on as “busy/unavailable” on your work chat app.

If you’re on a deadline, let your colleagues know that you need to concentrate and would really appreciate not being interrupted for the moment, or even work from home if that’s a feasible option for you.

By anticipating and having a plan in place to manage them, this will minimize your chances of being affected by interruptions.

4. Eat the Frog

Mark Twain once famously said that:

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“if it’s your job to eat a frog, it’s best to do it first thing in the morning. And if it’s your job to eat two frogs, it’s best to eat the biggest one first.”

What this basically means is that you should get your biggest, most urgent task out of the way first.

We all have that big, important task that we don’t want to do but know we have to do because it holds the biggest consequence if we don’t complete it.

Eat the frog is a productivity technique that encourages you to do your most important, most undesirable task first. Completing this particular task before anything else will give you a huge sense of accomplishment. It will set the ball rolling for the rest of the day and motivate you to eagerly complete your other tasks.

5. Cut Down on Meetings

Meetings can use up a lot of time, which is time that can be used to do something useful.

You have to wait for everyone to arrive, then after the pleasantries are out of the way, you can finally get stuck into it. And sometimes, it may take a whole hour to iron out one single issue.

The alternative? Don’t arrange a meeting at all. You’ll be surprised at how many things can be resolved through an email or a quick phone call.

But that doesn’t mean you should eliminate meetings altogether. There are certain circumstances where face-to-face discussions and negotiations are still necessary. Just make sure you weigh up the options prior.

If it’s just information sharing, you’re probably better off sending an email; but if brainstorming or in-depth discussion is required, then an in-person meeting would be best.

6. Utilize Tools

Having the right tools to work with is crucial as you’re only really as good as the resources you have at your disposal. Not only will you be able to complete tasks as efficiently as possible, but they can streamline processes. Said processes are essential to a business as they manage tasks, keep employees connected, and hold important data.

If you’re the manager or business owner, ensure your team has the right tools in place.

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And if you’re an employee and think the tools you currently have to work with aren’t quite up to par, let your manager know. A good team leader understands the significance of having the right tools and how it can impact employee productivity.

Some examples of tools that could be used:

Communication
  • Slack for team chat and collaboration.
  • Samepage for video conference software.
  • Zendesk for customer service engagement.
Task Management
  • Zenkit for task and project collaboration.
  • Wunderlist for listing your to-do’s.
  • Wekan for an open source option.
Database Management
Time Tracking
  • Clockify for a free tracker.
  • TMetric for workspace integrations.
  • TimeCamp for attendance and productivity monitoring.

You can also take a look at these Top 10 Productivity Tools to Help You Achieve 10x More in Less Time.

7. Declutter and Organize

Having a disorganized and cluttered workspace can limit your ability to focus. According to researchers, physical clutter can negatively impact your ability to concentrate and take in information.[3] Which is why keeping your work environment well ordered and clutter-free is important.

Ensure you have your own system of organization so you know what to do when the paperwork starts to pile up.

Being organized will also ensure that you know where to find the appropriate stationery, tools, or documents when you need it. A US study reveals that the average worker can waste up to one week a year looking for misplaced items.[4]

Here’s a useful guide to help you declutter and organize: How to Declutter Your Life and Reduce Stress (The Ultimate Guide)

8. Take Breaks

Taking regular breaks is essential for maintaining productivity at work. Working in front of a computer can lead to a sedentary lifestyle which can place you at a higher risk of heart disease, diabetes, and obesity. Even a 30 second microbreak can increase your productivity levels up to 30 percent.

As well as your physical health, breaks are also crucial for your mental and emotional wellbeing. That’s because your brain is like a muscle, the more it works without a break, the easier it is for it to get worn out.

Ensuring you actually take your breaks can prevent you from suffering from decision fatigue. It can also help boost creativity.

Take a look at this article and learn why you should start scheduling time for breaks: The Importance of Scheduling Downtime

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9. Drink Water

Although we know we should, it’s easy to forget to drink enough water during the working day.

Many of us turn to tea or coffee for the caffeine hit to keep us going. However, like taking breaks, drinking water is essential for maintaining productivity levels at work. It’s simple and effective.

Not drinking enough water can lead to dehydration and also headaches, tiredness, and weight gain.

A good tip to avoid dehydration is to keep a water bottle at your desk as it can serve as a reminder to constantly drink water.

If you find the taste of water a little bland, add some fruit such as cucumber or lemon to give it a better taste.

You can also get more ideas on how to drink more water here: How to Drink More Water (and Why You Should)

The Bottom Line

The preceding 9 ground rules on work productivity aren’t the be-all, end-all. You and the company you work for may have other tips on how productivity is best increased and maintained.

After all, it’s something that can be perceived differently depending on the exact job and work environment.

In saying that, however, the 9 ground rules serve as a good foundation for anyone finding themselves succumbing to disruption and distraction, and are looking for ways to overcome them.

A good tip to keep in mind is that change doesn’t happen overnight. Start small and be consistent. If you slip up, just dust yourself off and try again.

Developing habits happens gradually, so as long as you keep up with it, you’ll soon start to notice the changes you’ve been making and eventually enjoy the fruits of your labor.

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Featured photo credit: Cathryn Lavery via unsplash.com

Reference

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