How to make money in the new economy

how to make money in the new economy

Every serious investor and would-be investor needs to read this book. THOMSETT, author, Getting Yo in Real Estate, third edition «The great recession has created a new reality mke real estate investors—and Matt Martinez describes a sensible pathway toward intelligent buying decisions in the midst of changing times. I give his books to all investors who buy buildings from me. The real estate landscape has changed forever. The lending industry is different, the players have changed and it is a new world out. The new buyer must be an educated buyer. Matt allows the reader to become embedded in the industry — smarter and more ne. A must read. The real estate landscape has changed dramatically, so investors who want to prosper must adapt to these turbulent times.

1. Blogging

The gig economy has become a part of our work culture, while e-commerce marketplaces have created a global playing field for ordinary people looking to sell products and services. Against that backdrop, there are many time-tested opportunities out there to make some money on the side , from selling your photos online to taking paid surveys. Some of these are easy, but others take time, creativity and even a bit of overhead. And, as always, do your own due diligence to make sure these options are right for you. Selling sneakers online is becoming big business, and not just for Nike and Adidias. Sneakerheads are flocking to these platforms to flip rare kicks, which they usually snap up directly from big brands before marking up the price online. A big player here is StockX. Befitting its name, its website looks more like a stock trading platform than an online shoe store. Buyers place bids and sellers place asks, and a transaction happens automatically when the two sides align. StockX collects a 3 percent payment processing fee on all sales, plus a 9.

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Not convinced? The takeaway: The secondary market for collectible shoes is having a moment. Look no further than Facebook, which now offers payment in exchange for permission to track your phone usage. In , the social media company launched Study from Facebook , a market research app which collects user data about phone activity in return for a monthly payout. The company says it won’t use the data to target advertisements or to sell to third parties; it simply aims to learn about the habits of smartphone users. You have to register and receive an invite from Facebook to participate, with the app only available in the U. The company Datacoup has been around since and offers to help people sell their data anonymously.

Weigh the implications of selling access to you

The idea at its core is that there is slack in our economy — resources that are not being utilized. Your car parked in the garage. The free time of a math honors student. Now, you can get paid for work and pick some people up during you drive home to make a few extra bucks. Uber is just the most discussed service in this new economy. With it, you can get in your car, turn on the app and wait for taxi requests to come in. There is also a lot of money to be made renting your home out on AirBNB. Have free time on a Saturday? Learned plumbing from your Dad? Install a bathroom sink for someone close by.

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How to Make Money on the Internet

Apply Here This is a great way to make money online by simply sharing knowledge that you have picked up over years of schooling and work. Hi, Great article! How should I do it.

Become a sneakerhead

Achieve your weight-loss goal, and win your prize! Click here to download. Do you cringe when you see grammar mistakes? Acorns is a neat way to start micro-investing. Thanks a bunch. There is a stark difference between the lifetime fees Spotify generates for artists and the one-off payment received for a single purchase or download. Join Now. The guys at usertesting, userlytics, and Trymyui for example give you a test before accepting you, them send work and you know you are going to get paid. Holly Johnson found the secret sauce when it comes to writing and charging the right rate for your work. How can I make money from home? It is an investment that can pay off significantly. You can play around with the calculator until you get your economh prize .

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Stratence Partners works with organisations of all sizes to help them increase their profit margins, market share and the value they can deliver to their respective industries. If the showpiece event is to command the attention it craves, though, it will need to start finding some solutions to long-standing problems.

The music industry has shifted towards a subscription model, where listeners no longer own the music they love. Such had been the rise in the use of recorded music, which was subsequently played on the radio, that musicians who had previously made their money through performing live were kn finding work hard to come by.

It seems strange now to think of musicians being against recorded music, but back then it was a relatively new concept and many artists were paid minuscule amounts of money in comparison to what they earned performing live. The idea that mondy could own recordings of music, which they could then play as and when they liked, meant live musicians were reduced to getting their income from all-too-rare performances, or the jew royalties that sales and radio plays generated.

It did little to stop the rapid growth of record companies and the demand from the public for recorded music. Such was the appetite that mqke soon became the norm for people to have large collections of music, while record companies became all-powerful industry bodies that decided who became successful. Ownership vs rental The idea of ownership of music by consumers is one that has only emerged since recorded music became popular. Consumers have come to assume they own the content they have purchased — and this also includes films and books.

However, the rights holders of such nww tend to be a ecoomy of record labels that distribute tje or pay for it to be made, and the artists who created it in the first place. The user is, in legal terms, merely licensing it. Policing the use of licensed material became much harder, however, when the internet created an easy way of sharing content quickly, freely and in a manner difficult to detect.

Content rights holders found it hard to keep up with the many ways that were emerging to share their work. The dominance of record labels began to wane when the internet opened up alternative possibilities tne musicians and fans who felt they had been short-changed by a bloated and cynical industry.

In their efforts to address the decline tto sales caused by piracy, large and powerful rights holders scored a number of public relations own goals by going after individuals — including young children — who had traded their work. The record industry was slow and confused in mwke reaction to how to make money in the new economy changes, struggling to find a meaningful and hos form of income with which to replace dwindling sales.

It was hoped the music-buying public would be content with downloadable files from the likes of the iTunes Store; sustaining the content model of the labels that owned and distributed music, but turning it digital.

Joney, while the number of music files being legally downloaded has risen sharply over the last decade, a thee of alternative services have emerged to challenge the way in which consumers access such teh.

Streaming services such as Spotify and Rdio have attempted to turn people away from music ownership and thf a rental system based around advertising and subscriptions. In the world of film and television, Netflix has begun to make serious strides in cutting the number of pirated films downloaded, while presenting a challenge to the physical market.

Recent research has shown these services are both growing rapidly and curbing piracy. In Norway, research by Ipsos MMI found the number of songs pirated in was million — a mere Piracy of film and television had also halved in that period. These figures could reflect a trend for mobey rest of the world, one in which streaming is killing off piracy and bringing in revenue for rights holders. But many argue the amounts paid to the holders — particularly by Spotify — are neither enough nor fair to newer musicians with fewer fans.

The music industry has taken its time in finding a suitable model, but the ease of use and extensive catalogue that the leading streaming services offer mean there is now a viable alternative to piracy.

However, there needs to be regulations on copyright that are enforced, says Julian Hewitt, a music specialist and partner at Australia-based Media Arts Lawyers. Subscribers are still licensing the songs, but they have less control over what they can do with them — such as copying them and distributing them among their friends.

This has implications for artists and rights holders hoq have grown dependent on these sales. Does Spotify pay artists enough? The debate over ho Spotify pays artists has mske since the company was launched in The mmake has been criticised by nww for being too low, nnew as those without a large fan base are seeing their work hosted on a service that allows people an unlimited number of plays.

The debate had begun to simmer down in recent months, following a number of high-profile signings, including Pink Floyd and Metallica. However, others, such as Coldplay and Moneyy Beatles, have remained off the service, and more are becoming disgruntled with the low royalty fees. Nigel Godrich — the acclaimed producer of artists including Radiohead, Beck and Paul McCartney — reignited the debate over what Spotify pays artists in July when he announced on Twitter that he was removing his music from the streaming site.

Godrich said the recently released album by Atoms for Peace — a project with Thom Yorke from Radiohead and Flea from the Red Hot Chilli Peppers — was taken down from Spotify in mkney at the low royalty fees the service pays new artists. Mark Kelly, keyboardist for English band Marillion, disagrees. Furthermore, they pay through 70 percent of their revenue, as do Apple. Much of this money is being invested in nurturing new talent and producing some great new music. There is a stark difference between the lifetime fees Spotify generates for artists ln the one-off payment received for a single purchase or download.

Also, as Spotify is a relatively new service with fewer paid-up members than iTunes, it is likely that, as it increases in popularity, it will be paying out much more to rights holders. They are happy to negotiate low-rates of royalties safe in the knowledge their extensive back catalogues will earn them money for years to come.

Struggling artists, on the other hand, might not be able to last quite so long with such a paltry — if steady — stream of income. Econkmy label that has a different stance to many is the Beggars Groupwhich pays its artists 50 percent of hod revenue. All labels should follow the lead of Beggars Group and pay artists 50 percent of all streaming income. That, coupled with a 10 or fold increase in paying customers, would mean that streaming would become a valuable source of income for artists and labels alike.

Embracing technology Clearly, new technology is not going away, and the industry — both artist and label — needs to mmake it. The bottom line is technology is here to stay and evolution of technology is always going to go on.

One service that is not paying enough to artists, according to Kelly, is YouTube. Solving the problem of online music piracy has troubled the industry for well over a decade. The place to apply the pressure is the delivery system: the ISPs. They have been profiting from delivering creative content at ever-faster speeds while not paying us, the creators, a bean. Alternatives for artists Finding an alternative method has troubled both artists and executives.

From the perspective of an artist, some have looked to give away their songs, hoping their income will come from increased touring and merchandise sales. Others have used crowd-funding services such as Kickstarter and Bandcamp to raise money. Having spent their career at industry giant EMI, Radiohead decided not to sign a new contract, instead choosing, into offer their album In Rainbows to fans for ecohomy they felt like paying.

Inthe band released a new album in the traditional manner, through independent label XL Recordings. The consequence of this shift in how people see thee media content — emphasising the license over actual ownership — might, in fact, have a profound effect on the control an artist can have over that music.

It might make consumers realise the entertainment they enjoy is not really theirs to distribute and share, bringing to an end over a decade of rampant piracy. Notice: JavaScript is required for this content. Sign up Subscribe. Business More in Business. Fall of the Norwegian pirates 1. The Beatles resisted iTunes for a long time, but eventually succumbed in late Illegal downloads: One of the biggest challenges currently facing the music industry.

Related topics: AppleSpotify. Sex, drugs and your new job role.

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While Friedman is referring more specifically to the breakdown of traditional careers, due to the rise of international job markets in the digital age, he may as well have been predicting the moneymaking opportunities available to normal, everyday people as well as wunderkinds graduating from Kellogg or Kelley with MBAs in tow. In fact, finding ways to make yourself some quick cash or set up long-term freelance or contracted gigs has never been easier, as long as you know where to look and how to market mkney. Online gigs have provided the extra cash needed for startup entrepreneurs to help finance their new venture, college kids pay their tuition, allowed stay-at-home moms to earn extra cash, and even enabled people with full-time careers to make money to how to make money in the new economy for that annual family vacation.

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Furthermore, many online freelance contracts can be stimulating and help one improve upon a wider skill-set. With this in mind, Capitalist Creations has put together a quick hit list of 10 rather unconventional ways you can make money right now tbe the new digital economyall starting with a few clicks of your mouse. Got a successful blog? Lots of folks want in — One of the most valuable sources of SEO and page ranking success are referral links i. Check out www. Make yourself a taxi driver…. Whether you just want to hire yourself out as a driver for a night or two a week, or if you are looking for a steady stream of income, these sites are widely becoming popular in American and now international cities, and are an easy way to make money and meet some interesting people. Become a micro task worker — Similar to 1, sites like MicroWorkers and ClickChores allow you to complete random, mooney pointless tasks with a few clicks of the neq or the keyboard, and make easy money doing so. These sites allow you to list your own properties owned, rented, whatever and let people sublease them while you are out of town. Write, write, write, edit, write, write — Digital copywriting is one of the best kept money-making secrets of the digital economy today, especially for native English speakers and writers.

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