“The robots are coming!” someone screamed during the movie. In real life, I say, the robots are already here. By robots, I mean automation, out-sourcing, apps, software, artificial intelligence, etc. Check out this awesome tech preview of Google Duplex. It can make phone calls to restaurants and businesses on your behave.
Things are accelerating in the field of automation and A.I. But why would companies want to use A.I. and robots when they have human beings? When is the last time you dealt with a human customer service representative? I’d rather talk to a robot.
Yes, human beings have become lazy in the field of customer service and customer relations. The bigger the business, the more people they can dump you off on to make a decision. I just completed a refinance of one of my homes, and I tell you, it was one of the worst experiences in my life. Mainly because of customer relations with human beings. Sign me up for the robots next time.
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So what does my little robo-rant have to do with you and your future? Everything. If you have been reading my work, you will understand how vital it is for everyone to open a business. It is no longer even an option.
W-2 employees’ job security is at an all-time low. Your company can dispose of you in a heartbeat and have ten applicants with college degrees ready to replace you for bottom dollar prices. When companies’ earnings go down, so does your chance of surviving a round of lay-offs.
What is an employee to do? Diversify and become smart as hell. Here are some things everyone can do right now.
1) Retirement planning. Learn about your 401k options. If they match your contributions, maximize your savings. Understand and use a Roth IRA. Reduce your expenses and spending. Living below your means will make you feel rich. Trust me.
2) Investing. On top of using your 401k and Roth IRA options, you will need to learn to invest for dividends in the stock market. Dividend investing will give you income now. It will help your cash flow last however long you stay alive. Never spend your principle; always have cash flow.
3) Make your home an asset. Generally, your home is a liability. It takes money out of your pocket each and every month. If you don’t know the difference between an asset and a liability, read the book “Rich Dad, Poor Dad.” To make your home an asset, you will need to house-hack. Read my article “Mortgage Zero” for ideas on how to accomplish this.
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4) Start a business. Finally, to the point of this article— starting a business. The tax benefits alone are a great reason to start a business. Another reason to start a business is to diversify your income away from your W-2 employment job.
I am not saying that you need to quit your W-2 job; in fact, quite the opposite. My wife and I are still W-2 employees and don’t plan on stopping for 4-5 years. However, we have diversified our income away from our primary jobs. You will need to do the same.
Back to creativity. Now that you are considering starting your new business, we need to leverage your creativity. “But Josh, I am not a creative person; my sibling got the creative genes in the family.” I get that, and I have no sympathy. I have absolutely no creative genes, yet here I am creating articles, making magazine and book covers, building article photos, and advertising prints. How bad do you want to be rich?
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Your uniqueness is something that the world demands. Why? Because you are the only person who can bring your unique talents to the world. If you are having trouble expressing yourself, read the book “The Practice,” where Seth Godin explains how to ship creative work.
Being creative is more than starting a blog or YouTube channel. Your business can be as crazy as you need it to be. Sometimes, being creative can just be the way that you conduct customer relations and customer service. What do I mean by customer service creativity?
Sometimes the best things are the simple things. You simply can choose to have a small business and treat all your customers with dignity, respect, and care. Automation cannot replace a company that is 100% customer-focused. Indeed, this is how small businesses used to be. Somewhere along the line, everyone became profit-focused and missed the point of starting a business.
The idea of business. The entrepreneur’s job is to solve other people’s problems at a profit. Most people, especially in today’s society, are lacking interaction and relationships with others. You can simply make tons of money by understanding how the world’s lack of human connection forms a need for interaction. I’ll give an example.
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My wife and I have a roommate, a 60-something-year-old, single female. She officially hit the one-year mark staying with us. Each month she pays $800, and on her anniversary with us, we gave her back $200 to spend on herself.
Why do you think she has stayed with us so long? What does she gain by spending $800/month with us when she could probably stay in a crappier room for $500. The one-word answer is companionship. And there are millions more like her entering retirement age every year.
I just read an article in Kiplinger about how the number of single, child-less retirees is growing every year. Every entrepreneur should read this. There will be a massive market of people who just want to find a community of great people. Why can’t that be you and your business?
Your creativity could just be hosting a yard sale or garage sale that offers coffee and some tables for people to talk. How about an area where people can walk their dogs together? There are so many people saying, “I don’t need anyone; I am good being alone.” But, wait for it. These people are starting to turn 65, and mindsets are changing rapidly.
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So as you brainstorm your new business pursuits, know that the most straightforward ideas like hospitality, conversation, and caring are all making a comeback. These ideas are what will make your business unique and creative. Don’t overthink it.
I read a book a couple of months ago called “How to Start and Run Your Own Bed & Breakfast Inn.” I wondered why divine intervention kind of pushed me to read this book, and now I know. The premise of a Bed & Breakfast is to serve customers, talk to everyone, make everyone feel at home, etc. Hospitality is the number one thing that separates a B&B from a hotel.
These ideas of home and hospitality are going to come back into favor real soon. So, incorporate unity, connection, and teamwork into all your business core values, and you will see huge gains.
Sometimes it doesn’t take the creative gene to be a unique soul. Use these words as a way to simplify your business values. People will soon tire of this in-your-face approach. They just want someone to talk to and trust. Why can’t that be you and your business?
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Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
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