Internet Economics – Where are the Opportunities?
The technological revolution has changed the game of economics on a global scale. With the internet, people have changed the way they think, work, share information and even socialize. People from complete opposite ends of the earth can be connected with just the click of a button, and that is a very powerful thing. At the same time, there are millions of people buying, downloading, sharing on the internet from their computers or mobile devices. This generation has even lived long enough to see the internet become accessible from a wristwatch. The internet is also a source of exponential growth. More and more people are moving by way of the internet whether in their personal or business lives. It has made things in a sense easier and faster for those who are able to use it.
The internet has also brought about new and faster ways to make money, as well as exchange money. Businesses are continuously increasing their presence online. More and more people are moving to the internet to run and maintain their businesses. Although some may fear these technological advancements as more traditional jobs become obsolete, the internet and the business environment that it cultivates is actually creating a number of new jobs every day. A recent study showed that after surveying a number of online businesses, a little over 3 jobs were created for every one that was lost to technological replacements.
Accessibility to the internet has, in essence, created a new economic space. According to McKinsey research, if the internet was to be measured as a sector, then internet-related consumption is bigger than agriculture or energy. That means that more and more companies are going to need to focus on their online presence in order to continue business and further expand their customer reach. If a business, for some odd reason, has not shifted to an online presence, they will need to refocus in order to avoid becoming superseded by the influx of new online business models. In fact, according to Gartner the world will see 25 billion internet-connected things by the year 2020.
Let’s take a look at three ways that people are tapping into this new economic space for their own benefits.
- Selling: This seems to be the most obvious. People are running to the internet to sell just as fast as people are running to the internet to buy. In a world that is now taking advantage of the convenience of buying and selling from home, this is one of the easiest ways to tap into this new internet economy. This goes from selling a product to selling a service. You can sell online coaching services, freelance your work by project, sell your crafts or art, or even auction off personal belongings. Any of these methods are guaranteed to get you a couple of extra dollars in your pocket.
- Blogging: Nobody wants to hear that print is dead…but we can all understand how blogging has become the new journalism of the 21st People are quickly going to the internet, and more specifically blogs, to find answers on a variety of topics. There is probably a blog for almost any idea or theme you can think of. This is a great way to start generating an income. You can sell advertising space on your website, connect with affiliate groups, create membership and subscription opportunities, or generate revenue through videos as well.
- Referrals: Most of us think of the internet as the “middle man” but it has actually opened up doors for people to serve that very purpose. By using the internet to connect buyers with vendors, you can receive a referral fee for establishing the connection. This is more convenient for you if you are able to do it through your own platform. Either way, this is a great way to use those networking skills to tap into the internet’s economic space.
The best part about this new economic space is that it allows for creativity. The internet has created a way for people to come up with new, innovative ideas to make or exchange money and goods on a daily basis. All you need is an idea, some ambition, and Wi-Fi connection.