The Creative Economy: It’s Impact on You, and How To Profit From It

According to many people we are transitioning into the age where creativity rules.

A country can produce two things: goods and services.  It used to be that America was the engine for producing goods, but that has since changed as globalization has taken hold.  Manufacturing jobs have shifted overseas, and these countries can produce the bulk of the world’s needs with maximum efficiency.

Since just about anything can be outsourced these days – from graphic design to accounting and assistants- there is little left to compete on other than our creativity.  As discussed in the 4-Hour Work Week by Tim Ferris, Indian virtual assistants (VA) can work with a greater knowledge of research and technical skills than most American college graduates.  In the book The Elephant and the Dragon , Robyn Meredith states that there are more college graduates in one province in India than in the entire United States!

So clearly, there’s no shortage of competition.

According to Mark McGuiness of Lateral Action, it’s no longer about being efficient with our time.  He writes:

“Organization, professionalism, efficiency, productivity and initiative – these are becoming ubiquitous, and depending on where you live, there’s a fair chance someone, somewhere, can provide them cheaper than you can.”

I see the way for you to differentiate yourself by developing skills that allow you to capitalize on your creativity.  And don’t tell me you have none: everyone has a little!  This could be by creating information products, designing something like a new product idea, or selling a service that fills a need within a niche market.

By discovering your own unique skills and making connections with others, you can work to provide more value to more people…and reap the personal and financial benefits.

In Your Court

How do you feel the Creative Economy will affect you?

In what ways do you feel you can capitalize on the new economy?

What are your fears or perceived limitations with moving forward?

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Tags: economy

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