The ever-green virtues needed to make fortunes have not changed over time, It remains the same – hard work, persistence and unique skills. But the new age certainly offers much more avenues and opportunity in the last 20 years than any period in human history has ever offered.
With the advent of the internet, a new generation of internet entrepreneurs popped up making millions in a span of 10-15 years which challenged the traditional notions of a timespan to build a successful company.
The Internet has changed life in ways unimaginable earlier. A set of data by the Bureau of Labor Statistics will reveal some interesting trend in the USA. Below chart shows the number of people who voluntarily quit their job in red color against company induced layoffs and discharges in blue color. For seven consecutive years since 2010, the quit rate rose and there were 36.1 million quits in the nonfarm sector in 2016 as against 19.9 million layoffs and discharges. Does this tell you something?
The Moms, Dads, Disable people, College students, Writers, Travellers, Single parents and many more – Around 1.8 million Americans ditched their traditional 9 to 5 job to work from home with the added perks of greater flexibility, freedom of choice and increased happiness.
In short, work from home jobs has become extremely popular, particularly the tech industry which has seen the largest voluntary exodus. While these staggering data of jobs industry tell a tale, the real fun lies in innumerable stories of successful internet entrepreneurs popping up every other day.
While the popular internet beneficiaries Mark Zuckerberg, Jeff Bezos steal the show in mainstream media, the real narrative lies in the fact that a 4-year-old Gabriella along with her 5-year-old brother Alex owns the number one ranked Youtube channel in the UK raking in 1 million pounds per year. Read that again if you are rubbing your eyes in disbelief. This not an isolated one-off story.
This new narrative is being built by a lot of teenage gamers, pranksters, beauty bloggers, young e-commerce business owners, youtube video bloggers, etc who are making hundreds of thousands of dollars working remotely from their home on a laptop. Given the power of online opportunities, some smart people are riding the ladder of success very quickly unseen in the traditional business space.
More Online Success Stories
Ryan ToysReview, a seven-year-old boy who reviews toys has been revealed as YouTube’s highest-earning star, raking in $22m. Yes, he even beats PewDiePie if you were wondering.
Russell Brunson, a digital marketer, built a $360 million dollar SaaS business funded entirely by self and started by simply emailing his email list of 1 million subscribers.
Huda Kattan, made a transition from makeup artist to multimillion-dollar worth beauty brand owner, leveraging her influence on Youtube and Instagram.
Of course, not all end up making millions, but the earning spectrum is really wide. There are people earning hundreds, or thousands, or even hundreds of thousands of dollars working from the comfort of their home. Social media presents an opportunity where you can encash any of your skill. It can even be as simple as assisting with daily chores of a businessperson working as their virtual assistant.
Power of the internet can be leveraged in a variety of ways to make money online. You can entertain people, sell your own products, sell even other’s product, make people fill a form, or just write your own blog to earn money online. You are only limited by the power of your imagination.
Reason for Success
- It offers one of the lower barriers of entry. You just need an idea, a laptop with an internet connection, and desire to learn.
- Compared to traditional business, you can start with zero capital and build some cash flow for yourself.
- The risk of failure doesn’t cost much in terms of losses.
But like any other domain, this was quickly hijacked by malicious people to flood the market with inferior, worthless products scamming a lot of interested people.
Ferdinand Macagba of Bytes enterprises puts it aptly “ Everything has evolved in the online market including the spammers. Talking more and more about end benefits than giving any actual helpful information is the trademark of an inferior product. Intentionally selling one piece of the puzzle while leaving a trail of crumbs that just leads to more spending is a more evolved way of scamming people. It is indeed difficult to find authentic information among a pool of free resources available online” However, such instances don’t dilute the power of this new age opportunity. More and more success stories are coming up from young entrepreneurs in the online space.
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