Digital Economy vs Traditional Economy.

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Hey, are you looking at this article on a desktop? Highly unlikely I think because today with the circulation of technology millions of people have the world in the palm of their hands. Gone are the days we used to go to cafes to access the internet we can move with this "internet" everywhere we go it is mobile.

It is interesting because since these developments a lot had changed, there is now such a thing as the digital economy. These devices and connectivity have changed the way things work today. Everything is following the trend of this technology, science, health, the economies also are following this trend in science.

Following that thought, it would be sad to think that the effect of this transformation on the economy would be minimal. That for some reason we have the world in the palm of our hands but we still have to move around vending our materials for economic benefit the traditional way. Hence the advent of a digital economy.

Gone are the times where people used to fear to register their businesses online because of one reason or the other. It is coming to a time where if you are not found online then it is going to be a serious setback.

Almost all things are connected. The time to strategically place yourself for this kind of trend is not. Let's talk about how the bitcoin is changing the landscape of how money works and we will not go into the details of its potential in the near future. There are many more platforms that are making this economy grow at a faster pace than the traditional one.

What are some of the advantages of a digital economy over the normal traditional one:

  1. Effective allocation of resources: you can decide to employ 10 guys to help you sell your product with little or no knowledge of who would be interested to buy or you can employ an already taught algorithm which has already been fed with information to do it for you at a cheaper cost.
  2. Location independence: these days you don't need to be on the streets of Paris to sell something. you can just sit in your office anywhere and on a click of a mouse, you are able to reach a potential of 1 billion online users.
  3. Accelerated growth for small businesses: with the digital economy its easier to grow since the costs of providing such services to reach people are becoming cheaper by the day. It is easy to pay 30$ and reach 4,000 people on Facebook this accelerated growth of business sets the digital economy apart from the traditional one.
  4. Help balance supply vs demand curves: if you know who you are producing for and where your product can be consumed, this helps you make better decisions in your production process. 

Those are just a few of the things that the digital economy can help to in the world of today. It is imperative therefore for any able-bodied person to get involved in this move by strategically placing themselves for the future.

Strategic placement could include massive action on obtaining necessary knowledge towards making your impact on the economy. I believe one of the places to start is by clicking the banner below. You will be able to access free training material for a week on how to begin setting up your business online and all its advantages.

Please use this knowledge wisely.

Till later.

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