A profitable online business is a desire for many but…..
To start a profitable online business is something that becomes more frequent than ever. Innovations appear almost daily, and the new digital era is changing all traditional business rules.
The term disruptive innovation becomes something that influences daily life.
Should you use disruptive innovations, you may ask? Indeed, you need to! If you don't, you will be behind the evolution of our society. The technical development is going on, and the new digital world is moving faster than ever.
So let's start to understand what disruptive innovation is. The expression was introduced in today's debate by the teacher and consultant, Clayton M. Christensen. Very simplified it can be described as:
"An innovation that creates a new market and value network and eventually disrupts an existing market and value network, displacing established market leaders and alliances."
For example, when the car became achievable for ordinary average people, it replaced the horse transportation. A whole new market appears.
The agricultural revolution and after that, the industrial revolution, both happen due to disruptive innovations. The industrial revolution is a movement that improves production by replacing human physical labor with tools. Production gets faster, cheaper, and with higher quality. It becomes an essential milestone for economic growth.
Disruptive innovations – a game-changer
The innovations we see today, mainly focus on the digital world. Without making reflections anymore, we all make bank transactions on the Internet. Tickets of all kinds, you purchase via your laptop or smartphone. With the Uber growth, ordinary taxis will soon be a chapter in the history books.
The Internet of Things (IoT) is the next Industrial Revolution. It will change the way all businesses, governments, and consumers interact with the physical world.
Here are some interesting data:
- There will be 34 billion devices connected to the Internet by 2020, up from 10 billion in 2015.
- By 2006, 6% of the world population was connected to the Internet. For 2010, the figure grew to 26%, and by 2020 almost 100% will be connected.
- The increasing growth of sales on Internet products and services related to information and education amount to $126 million per day.
At the same time, you view those incredible figures the manufacturing, commerce, and public service continue to automate. By the end of 2020, estimations predict that almost 50% of today's labor positions will be gone. The younger generations do not trust any longer traditional education. A title from a well-known university is no longer a sure entrance ticket into the labor market.
Every day you get offers into your email inbox about new applications allowing you to automate further your personal life. This automation process gives you two critical things:
More money and more time.
The same way the Industrial Revolution scaled up the global economy in a positive way, this new digital revolution will do the same. We will get wealthier, and we will get more time.
Before taking advantage of all the changes coming along at a very high speed, there is one crucial threshold to sort out first.
You Need to be a "Chameleon" to Succeed With Your Online Business
Not accept the new way of doing business and the unique automated consumer-style. Instead, treat it as a short fashion wave that soon will die out – the dinosaur syndrome.
We all know the history of the dinosaurs….
Be a "chameleon"
Be a "chameleon, these incredible animals changing their skin color depending on the environment. Do your very best to take advantage of the new digital era.
If you belong to the big group of baby boomers, as I do, born between 1946 and 1964, there are certain hurdles to overcome.
The most important and also the most frequent reason to close out baby boomers from this new digital lifestyle has its roots in the education system we grew up with.
To give a professional opinion, advice, and treatment to a person suffering from any kind of disease or illness, it requires many years of medical studies at the University.
"So, keep your hands off and do not even try to play the role of a doctor."
To construct a bridge over a river, you need years of engineering skills.
"So, why should you even bother to think about how to construct a bridge?"
To be a successful businessperson, you need years of studies in economics and business administration from a prestigious university or business school.
"So,…..well, don't think about it."
Nobody will blame you for this way of thinking. It's the way we are educated, and probably the best way of succeeding at that time.
New Times – Different Opportunities
Times change and the new digital world is different. Entrepreneurs like Bill Gates, who eagerly developed Windows and making it possible for regular people like you and me to enter the computer world, and Steve Jobs who with the same vision in mind developed the first computer accessible for "normal" people, they turn up-side-down the mindset to use.
Figure out if you fulfill the attributes of a dinosaur thinking. Will you defend yourself with the following set of answers to typical questions about the Internet and digital life?:
"The Internet is not for me. I'm too old for this."
"I never got the opportunity to learn these skills at school."
"My children and grandchildren use it because they grow up with it."
"This is something that will not survive for a long time."
"I don't trust online payments."
"I prefer personal service."
The list can be much longer, but with these few examples, you can probably see the pattern.
The truth is that with the new and disruptive innovations in place it's all different. Every single person on earth with access to a computer or any other Internet device can be a digital "guru." You will be it sooner than what you can imagine. But you need to change from a "dinosaur" mindset to one of a "chameleon".
Checklist for your profitable online business
With the never-ending amount of offers on the Internet, all actors with a serious business future in mind need to consider at least three relevant variables to think about for a bright long-term business:
- Safe payment method offered. If your credit card is hacked, you can close down your business immediately. Today it is safer to pay on the Internet than using your credit card at an ordinary store or restaurant.
- With the keen competition online, every serious actor has to offer a complete money-back guarantee to the customer in case not being totally satisfied with the product or the service.
- The "on-the-go" training is essential to the success of the product or the service. And here we find the most significant game-changer from the old traditional education system. With $126 million education and information applications sold daily, it wouldn't happen without an "on-the-go" training. It means that you literally can be up and running within minutes with your new application, and you learn further as you continue.
Baby Boomers Represent a Potential Group for an Online Business
Although baby boomers often are portrayed as the postwar generation of opportunity and optimism, many boomers worry about retirement. They fail to prepare adequately for the transition from work to retirement. Many boomers are planning to remain in the workforce beyond age 65 for various reasons, if for nothing more than a consistent income and a sense of identity.
Even if the income could be a reason to continue working after retirement (and indeed it's a good and valid one), more available free time is another important cause. You would like to enjoy your retirement but work with something on your terms.
Something you love to do.
After erasing completely, the "dinosaur" excuses explained earlier, the next step to take is all about leveraging your passions in life. In a recent global Gallup research, it was found that only 20% of worldwide corporate employees felt a passion for what they were doing. Alarming figure!
Life is short, and there is no reason you shouldn't enjoy every single day. You should design your own digital lifestyle and live a life entirely on your terms.
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