Talk about the metaverse is cooling off as we enter the great recession of 2022. But don’t be fooled by the lack of interest—the metaverse will be back soon and bigger than ever.
Led by Meta (formerly Facebook), companies are still investing massive amounts of cash into the metaverse; therefore, we need to take its’ future seriously.
Welcome back the Metaverse 101 series (101, 102, 103, 104, 105, 106, 107, 108, 109, 110, 111, 112, 113), where we discuss the future of the internet.
Preferred Shares vs. Treasury Bonds
Where’s your business? Every business should be evaluating what the metaverse looks like in the future. I run a book publishing business and am entertaining ideas on how to make my books into original NFT productions.
One business type that can see massive gains in the metaverse is consulting. Currently, consultants need to drive to the workplace to meet with the CEO and integrate with the teams.
I wrote an article titled “Create a Consulting Business towards Passive Income” where I discussed how to separate your work from your income. We call this passive income.
The metaverse will allow consultants to further separate their availability and capacity by introducing artificial intelligence into their workplace. Let’s start from the top.
Staying Debt-Free in Your 70s
Meeting with CEOs. Currently, consultants can meet with the CEO over the phone or through online meeting places like Zoom or Microsoft Teams.
The metaverse will expand this capability by allowing the consultant and CEO to “walk the spaces” of the online workplace.
This could mean through augmented reality, where the CEO wears a headset or camera to display their view to the consultant.
Typically, companies hire consultants to fix a problem or improve upon a process. Seeing various areas of the workspace from afar can help the consultant narrow down his focus.
Crunch the numbers. Some consultants focus on information technology or accounting. They live in the data and numbers of an operation.
Staying Debt-Free in Your 30s
The consultant must start tracking the steps they take to resolve an issue. We will use this information to build an A.I. representative of yourself.
For example, let’s say I reviewed a book publishing business for speed. They hired me because they want to publish a book every day. However, their process takes 15 days currently.
Using techniques taught in Lean Six Sigma and Continuous Process Improvement, I narrow down where the “bottleneck” in the business lies.
I may find that they are spending too much time on editing or creating a cover. I can then give them specific time limits on these processes.
Financial Independence Remain Employed
A.I. for the win. The part you want to capture is how you quickly determine the bottleneck, problem, or constraint. That’s where the magic lies and where your A.I. will shine.
As you integrate your A.I. into the metaverse, this is where your business will start to compound its growth. The reason is that now you can be in multiple places at once.
You can offer a less expensive A.I.-driven package to smaller clients. Your A.I. will be able to provide rudimentary or intermediate-level help for a fraction of the costs of hiring you full-time.
A.I. versus automation. I know you are asking, “Josh, why can’t someone buy software to resolve their issues?” Artificial intelligence and automation software are two separate concepts.
The A.I. is a “computer” representation of you. More significantly, your experience and thought process. We can use software to automate specific duties inside our larger workflow.
Turn Your Garden into a Business
I can use Grammarly to help me edit my writing. I can use software to generate a book cover procedurally. Maybe I will use A.I. to write my book description. But that would produce a crappy product for humans.
People are already trying to use A.I. to write blog posts to increase their SEO rankings. But you are reading this writing because I am a human. I have a wife, kids, and a dream.
Do not underestimate the human element of your business. Using A.I. to arrive at an 80% solution will allow you to service multiple clients simultaneously. You can finish the last 20% to ensure the client has everything they need for success.
From Broke to Saver to Investor
Consulting in the future. As we progress, consulting will be even more valuable than it is today. Remember, there are lots of older companies that need to transition into the metaverse.
This will be similar to the move into the internet that killed newspapers and magazines. The metaverse may destroy social media, movie theaters, and physical workspaces.
We don’t know what will happen, but the savvy consultant that keeps their eyes on the past, present, and future will grab the prize.
Building an Audience 102: Adding Value Consistently
Present goals. Your goal today is to determine what makes you unique and separates you from other experts in the field. This is the perfect time to specialize.
As a book publisher, I must sacrifice some quality for speed, quantity, and efficiency. I would love to take 3-4 days to produce a book cover, but I spend 15 minutes.
My specialty is speed and quantity. My writing, editing, cover design, and publishing may not be at the top in each category. However, when you put them together, you get something special.
I wrote the Publishing Chronicles series (part I, part II, part III, part IV, part V) to explain my process to the world. If I were a consultant, I would offer this series to prospective clients.
Getting Married? 10 Financial Questions to Ask
Conclusion. It would be a good idea to write down your “magic in a bottle.” Is it speed, efficiency, cost reduction, or forming business relationships? The book “You Are the Brand” can help you identify your skill set.
Today, you want to start creating ways to automate parts of your business. For example, I could have my clients pick a book cover from Amazon that they may wish to emulate. This way, we don’t spend days trying to build a book cover from scratch.
You are the subject matter expert with all the experience. It’s time to separate your knowledge and insert it into processes, automation, and artificial intelligence. The consultant that leverages technological advancements stands to gain the most traction (and money). Good Luck!
- PDF of the Month: Don’t Gamble with Retirement 7 (Free 424-Page PDF)
- Free PDF Downloads: Download FREE PDF LIST here
- Financial Mindset: Become CEO of Yourself 2 (Free 196-Page PDF)
- Retirement Planning: Your Retirement Planning Guide 2 (Free 255-Page PDF)
- Investing: How We Plan to Retire on Dividends 2 (165-Page Free PDF)
- Cryptocurrencies: Counting on Crypto 2 (Free 159-Page PDF)
- Real Estate: Financial Independence through Real Estate 2 (Free 123-Page PDF)
- Business: Retire Rich, Retire Comfortable with a Business 2 (Free 185-Page PDF)
- Latest DGWR: Don’t Gamble with Retirement 6 (Free 409-Page PDF)
- Everything!: The Biggest Book on Passive Income Ever 2! (book)(Web Edition)(Art Edition)
- I bought a Kindle Oasis: Check it out on Amazon
- Read My Books for Free: Free Kindle Books Schedule
- Crypto Exchange: My Favorite Crypto Exchange VOYAGER (Join Voyager)
- Kindle Unlimited: Why I Finally Subscribed Kindle Unlimited (learn more)
- Book Reviews: 505 Takeaways from 101 Books (pdf)
- Writing: The Publishing Chronicles (Part 1, Part 2, Part 3, Part 4, Part 5)
- Best REIT- Fundrise: REITs vs. Homeownership (Join Fundrise)
- Follow us: On our Facebook Page and Join our Facebook Group
- Support the Channel on Cash App: $Kingmarine1981
- For more detailed analysis, join my Youtube: MFI YouTube Channel
Monthly Dividend Tracker Template: Buy on Etsy
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. All Right Reserved Military Family Investing
Leave a Reply