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Skill #4 Reputation Management

Skill #4 Reputation Management

 

Why should you be interested in something like reputation management? Well, like it or not, you already have an online reputation. Don’t believe me? Jump online and Google your name and see what comes up.
 

This is important because?

 
In this digital age, how you appear to the rest of the world can have a huge impact on your ability to make a living.
 
Current estimates are by the year 2020, 50% of the US workforce will be Freelancers or independent contractors (http://bit.ly/2xkEfmi ). Further, futurist Thomas Frey, predicts 47% of existing jobs will disappear by 2030 ( http://bit.ly/2w4whhN ). This means there is a 1 out of 2 chance you will be changing careers in the next 12 years. Where do you think employers go to check out people they are going to hire
 
Consider these statistics from one of Frey’s recent posts (http://bit.ly/2yFqvos )
  •  “80% of divorce lawyers use Facebook to find evidence.
  • 65% of recruiters frown on job seekers who frequently use profanity in social media.
  • 68% of hiring managers have decided to hire a candidate because of something they saw on social media.”

My point is simple. If you know people are going to check you out online, shouldn’t you try to put your best foot forward?

 

Personal Branding

 
Reputation management can also be called personal branding. It began to rise in popularity among corporate executives in the early 2000’s. As more and more people become Freelancers, they are discovering the importance of promoting themselves as a brand. In the new gig economy, you are responsible for directing your own career. Social media gives you the opportunity to do just that.
 

So, How do I do it?

 
If you are a Freelancer (or are thinking about becoming one), the first thing you have to realize is you are the product. So, ask yourself, “What do I want to be known for?”
 
Consider the following:
  • What is your area of expertise?
  • Who do you want to work for? (Your target audience)
  • What type of projects are you interested in?

Once you have answered those questions, you can begin to tell your story. Yes, you have a story. When you go to work for your clients as a Freelancer, you have a unique promise of value you’re going to deliver. That’s what you need to communicate.

 

The Story of You

 
There many channels available to tell your story. Here’s a list of the most popular:
  • FaceBook
  • LinkedIn
  • Google+
  • YouTube
  • Twitter
  • Blog Posting
Depending on which one (or more) of these you choose will depend on your target audience.
 
If you intend to become a recognized expert in your chosen field, blog posting is an excellent way to promote yourself. Blogs come in many varieties and range from free to relatively inexpensive. You can also publish blog posts in a range of other social media platforms using a media manager such as HootSuite.
 
Facebook is another way for you to reach your target audience. FaceBook started out as a way for people to stay in touch with one another. Now it has morphed into a platform you can use to inform and entertain your target audience. A word of caution here. There is a lot of trash on Facebook. You will need to monitor your account daily to remove any questionable posts that may pop up.
 
In my opinion, LinkedIn is the best channel for connecting with other professionals. LinkedIn is based on the idea that by connecting with friends (1st Level) you also have access to friends of friends (2nd Level). You can also join groups with subscribers of similar interests. For instance, I belong to a group called the Personal Branding Network that has over 19,000 members. Now there’s a great target audience.
 
Twitter is also a great way to connect with a target audience. You can also use it to send links to your blog posts, Facebook and LinkedIn posts.
 

In Conclusion

 
Telling the “Story of You” is growing in importance and will continue to grow over the years. Positive management of the way you appear in the online world will be critical to your success. One more thing you need to do is to be consistent. Keep your communications and posts on message for your area of expertise. For instance, if you are an accountant, stick to articles about accounting. Don’t wander off with articles about growing orchids.
 
Above all, start today to manage your personal brand online. Choose how you are going to tell your story. Do it well, and you will reap huge rewards in the future.
 
P.S. I am starting a new website that will teach people about personal branding. If this is a topic you’d like to learn more about, please let me know by posting a comment on this post.
Skill #2 Emerging Skills Management

Skill #2 Emerging Skills Management

 

Here is an interesting question. How can you learn the skills for a job that hasn’t been invented?

 

Why would I need to do that?

 

Here’s why. Futurist Thomas Frey estimates 47% of today’s existing jobs will disappear by the year 2030 (http://bit.ly/2w4whhN ). What that means for you is there is a roughly 50-50 chance the job you’re in today will be gone.

When it happens you will face 2 choices:
1. Be pushed aside into a lower paying job well below your skill level.
2. Become expert at skills required in this new economy, and hire yourself out as a Freelancer.

Your challenge today is you can’t afford to wait until your job disappears. When your job goes, it won’t just disappear from the company you work for; it will be gone from the economy. Without a developed skill needed in the new economy, you will fall into category one. And, there you will stay until you acquire those new skills.

 

Won’t there be new jobs coming along?

 

Yes, but…right now, no one knows what they are. Here’s what we do know now.

Robots and improved software technology are replacing people at an ever increasing pace. Robots and software can do predictable, repetitive tasks very quickly, 24 hours a day. What robots can’t do is think. The new jobs coming along will be those that require human judgment.

 

Your Challenge Today.

 

Start thinking today about what you want to do when your present job disappears. Do you want to stay in the same industry? Do you want to do something entirely new? Do you want to be a Freelancer in some area you’ve always been passionate about?

Start thinking about jobs in that field that need some of the following skills:
1. People management
2. Complex Problem Solving
3. Creativity
4. Coordinating with others.
5. Emotional Intelligence.
6. Service Orientation

Get wild here. Use your imagination. Perhaps you can repair robots or find hiccups in software programs. Maybe you could be someone who helps decide what functions could be automated.

It doesn’t have to be that technical. You could become a Freelance journalist, or a copywriter, or an author.

My point here is that whatever you choose, you need to start your education today. Read books. Take courses online. Go to college at night. Do whatever it takes to be ready when the pink slip comes.

The New Reality

 

Here is an inconvenient truth about the economy of the 4th Industrial Revolution. We all must become lifelong learners. Human knowledge is doubling every 13 months and that time frame is getting shorter and shorter. Our education system can’t keep up. So, we are going to have to do it on our own. Here is the good news. Learning new stuff is a lot of fun.

Choose something to learn about. Start now. Then, you’ll be ready to move up and on when the big day comes.

Countdown: Skill #1 Complex Problem Solving

Countdown: Skill #1 Complex Problem Solving

In my original post in this series ( http://bit.ly/2v8mXJm ), I listed the top 10 skills employers will be looking for in their future employees. At long last we have arrived at the #1 skill you will need to acquire to be successful in the future. Complex problem solving.
 

Why is Complex Problem Solving so Important?

 
Robots are replacing people. Why? Because robots can do repetitive tasks with skill and dexterity greater than human beings. They can also do these tasks over long periods of time and never make a mistake.
 
People are also being replaced by software technology using algorithms. An algorithm is a mathematical formula for accomplishing a well-defined task. Software technology can count, add, subtract, multiply, divide, search, compare, compile, and analyze patterns in huge amounts of data at speeds beyond human comprehension.
 
But, contrary to popular belief, guess what robots and software can’t do? Think! Only people can exercise human judgment and apply it to given situations.
 
So while robots and software might be able to tell you there is a problem, only you can fix it.
 

Complex Problem Solving Defined

 
The process of complex problem solving can be broken down into a number of steps:
 
  • Identify the problem. This is not always as easy as it sounds. The problem itself may be buried beneath a number of adverse effects showing up in a system.
  • Identify the causes. These could be the task itself, or systems control issues, equipment, people, even personality clashes, or any combination of these factors.
  • Look for solutions. Here is where human judgment comes in. You will evaluate possible outcomes and seek the one that produces the most desirable solution. Here you may wind up settling for the least bad outcome you can find.
  • Make a decision and put it in place. Pick an answer and go for it.
  • Evaluate feedback. Is your solution working? Or not? Use feedback to adjust your solution to achieve maximum results.

Here is the Opportunity

 
Can you see where the opportunity is in these situations? The good news is we are all somewhat skilled in solving problems. It comes with being human. The better news is complex problem solving is like any other skill. It improves with practice.
 
Once again the internet comes to the rescue. Google “Learn to solve complex problems” and you will find over 3 million results. There are plenty of resources there you can use to improve your problem solving abilities.
 
My favorite source as you well know is books. Here are two to get you started.
 
The first is “The Head Game” by Philip Mudd. An ex CIA Analyst, Mudd outlines a fascinating process anyone can use to improve their complex problem solving skills. He uses real-life situations from his years in the Agency to showcase these methods.
 
The second is “Systems Thinking for Social Change,” by David Peter Stroh. This book is more technical. In it, Stroh explains how to apply systems thinking to solve complex problems of all types.
 
There are links below if you wish to get these excellent books. (Full disclosure, I am an Amazon Affiliate.)
 
Whatever direction you choose, I urge you to start now. Improving this skill will put you in high demand in the coming years.

Countdown: Skill #2-Critical Thinking

Countdown: Skill #2-Critical Thinking

In my original post in this series ( http://bit.ly/2v8mXJm ), I discussed the 10 critical skills you need to succeed in the chaotic job market of the next few years. Today, I would like to talk about the #2 skill, Critical Thinking.

Just What is Critical Thinking?

 
Critical thinking is one of “those terms.” It has risen to near the top of skills employers are now seeking. Go search for a good definition though, and what you get is a lot of big words and phrases difficult to decipher.
 
Here is a list of elements involved in Critical Thinking stated in simple English:
  •  The ability to analyze the way you think.
  • A self-directed way of thinking using high standards of excellence.
  • A systematic, methodical approach to problem-solving.
  • The ability to think independently.
  • The ability to separate rational arguments from emotional ones.
 

Why is Critical Thinking Important to Me?

 
You are a Freelancer. You hire yourself out to clients and companies to work on various types of projects. Robots and software technology are replacing people at ever-increasing rates. What is the one skill technology doesn’t have? Human judgment.
 
This is where critical thinking comes in. Good critical thinking skills give you the ability to:
  •  Identify a bad or false argument.
  • Build and present good arguments.
  • Think better and more clearly.
  • Develop the ability to see things in new and different ways.
  • Question the status quo.

Here is the challenge. The human brain does not think logically. It makes most of its decisions on emotion and/or preconceived ideas. Having made a decision, people then go back and justify it with logic. What’s worse is once a person has made a decision they will defend it to the death, no matter how wrong it turns out to be.

Developing critical thinking skills helps you arrive at better, more logical decisions at the beginning of the process.
 
These are the skills employers are buying today. Doing things the same old way doesn’t cut it anymore. Now clients want new and different ways of accomplishing things. Making progress requires shaking things up.
 

How Can I Learn to be a Better Thinker?

 

There are lots of online resources to get you started. Google “Learn Critical Thinking,” and you’ll get about 29 million results. One challenge here is language. Many of these resources read like college psychology texts (read boring and difficult to comprehend). My research turned up a couple of good sources I think you will enjoy.
 
The first is a website for “The Critical Thinking Community.” This link ( http://bit.ly/2xrZtj7  ) will take you to a page that starts you on a path to learning about critical thinking. If you want to take your education further, there are a lot of wonderful resources on the site. You can join the community for free.
 
There are lots of books on this subject as well. One of the most readable I found was “Critical Thinking for Dummies,” by Martin Cohen. This book delivers a plain English approach to the subject I think you will enjoy. I have included a link below if you would like to order this terrific book. (Full disclosure, I am an Amazon Affiliate.)

Countdown: Skill #3 Creativity

Countdown: Skill #3 Creativity

The first blog post in this series ( http://bit.ly/2v8mXJm ) I listed the top ten skills necessary if you are to triumph in the ongoing upheaval in the worldwide job market.  Today, I want to discuss the #3 skill, Creativity.

 

 

Why is Creativity so Important?

 

There is one simple reason why creativity as a skill is so much in demand.  Robots and software technology can’t do it.  Here is one area where human beings can beat the bots.  Every time.

Freelancers need this skill to solve problems with new programs and procedures.  Clients and different departments implementing new programs and services will require new solutions to problems that arise.

I have a favorite saying I think sums up the need for creativity in the business world.  It comes from General George Patton, the famous tank corps commander in World War II. “The best battle plan in the world isn’t worth a damn after the first shot is fired.”

General Dwight Eisenhower also weighed in on this subject when he said, “Plans are useless, but planning is essential.”

Freelancers know this.  When it all goes to hell, you’re going to have to get creative and think your way out of it.

 

How Can You Define Creativity?

 

I admit this is hard.  Creativity is one of those things that everyone knows when they see it, but find it difficult to define.

Let’s take a shot at it.  Creativity is:

  • The ability to think outside the box.
  • Coming up with something that’s never been done before.
  • Applying old methods in new ways.
  • Perceiving the world in new ways.

There are more.  Here is a link taking you to a Copyblogger Post with 21 different definitions of creativity ( http://bit.ly/2jEEKTH ).  (Hint… the list starts about halfway through the post).

 

Can I learn to be more creative?

 

How many times have you heard it?  “I’m just not a creative person.”

Wanna bet?  Actually, we all start out being very creative, and then we unlearn it.  In 1968, a man by the name of George Land devised a test to measure creativity ( http://bit.ly/2ykJSzE ).  He then gave the test to 1600 children, age 3 to 5 years, enrolled in a Head Start Program.  The results were amazing.  The 5-year-old kids scored 98% on the creativity test.  He retested the same kids 15 years later.  Guess where they scored? 12%.  Adults given the same test scored 2%.

This means our society is teaching us to unlearn creativity.

So it’s really not an issue of learning to be more creative.  It’s remembering how to be as creative as we once were.

The common misconception is that creativity belongs to artists, writers, musicians, and maybe a few computer geeks.   Nothing could be further from the truth.  We are all creative. Like all skills, it is one where proficiency is gained by practice.

Remember the old joke? A kid carrying a violin case goes up to a cop in New York City and asks, “How can I get to Carnegie Hall?”  The cop looks at the kid and says, “Practice, practice, practice.”

The best part is improving creativity is fun. A lot of fun.

 

I’m Sold. Where Can I go to Learn?

 

Online of course.  Google “Learn to be Creative.”  You’ll get more than a million results.

Now as for books?  One of the best I have ever read on this subject is “The Artists Way, A Spiritual Path to Higher Creativity,” by Julia Cameron.  I read this book when it first came out over 25 years ago when I wanted to begin developing my writing skills.  I have reread at least 3 times since then.  Don’t be put off by the title.  This book is considered the seminal book on creativity.  It’s for people in every walk of life seeking to enhance their creativity skills.  There is also a great workbook that goes along with it I would recommend as well.

I have included links below if you would like to get these outstanding books. (Full disclosure, I am an Amazon Affiliate)

 

Countdown: Skill #4 People Management

Countdown: Skill #4 People Management

In the first blog post in this series ( http://bit.ly/2v8mXJm ), I listed the 10 critical skills you will need to succeed in the upheaval taking shape now in the worldwide job market.  Today I want to discuss Skill #4, People Management.

 

Why is People Management so Important?

 

People management has always been an important skill to possess.  In the coming chaos in the job market, it will become even more vital.  As robots and software technology continue to replace people in the work force,  human judgement becomes more and more critical.

As a Freelancer, you will be involved in complex projects.  These projects will employ teams of highly skilled and intelligent people.  These teams may consist of company employees and/or other Freelancers.  And…the one thing you will all be required to bring to the table is human judgment.  It’s the one thing robots and software cannot do.

 

What Does Good People Management Consist of?

 

If there was one word I could use to sum up good people management it’s engagement.

Did you know according to Gallup research, 51% of the American workforce is not engaged?  This means they are indifferent to their job or don’t like their work.  ( http://bit.ly/2wVIZik  ).  So, the first task of any manager is to get his team engaged.

 

How do I Get People Engaged?

 

The hypothetical situation here is you are Freelancer managing a team of Freelancers completing a project for a company.  Here is how I would do it.

  • Be clear about the purpose of the project. What is special about it? Why is it important? Freelancers tend to pick their jobs. If you can show how working on this project would enhance their career or professional development you’ll be way ahead.
  • Set expectations. Let them know exactly how they fit into the team and what they are expected to do.  Show them how what they do is critical to the project’s success. Let them know you are counting on them.
  • Let them know you have their best interests at heart. Freelancers want to know they are in a situation where they can do what they do best.
  • Ask for their opinions.  And…really listen.  Reward innovation.  Value feedback.  Give plenty of feedback to them. Remember if you want to get people engaged, you have to be engaged.
  • Give lots of praise.  But, be genuine.  Too much praise can come off sounding phony
  • Figure out ways to make it fun.

Freelancers build teams.  Let your team members know if they do a good job, you’ll be sure to ask them back on the next gig you get. People love working for a well-functioning team.

Freelancers need to know they are getting paid well.  Remember companies can save up to 30% of labor costs (payroll taxes, fringe benefits, etc.) by hiring Freelancers. What kind of revenue will this completed project generate for the company?  Set your prices accordingly.  The better the pay, the higher the talent you’ll be able to attract.

 

Where can I go to learn about this?

 

Online of course.  Google “People Management Training” and take your pick.  Training resources range from free to thousands of dollars depending on what you choose.

Then there are books.  Always my favorite starting point.   One of the best is Stephen Covey’s “The 7 Habits of Highly Effective People”

Another excellent book is “Bringing out the Best in People” by Aubrey Daniels.

See links below to order these fine books. (Full disclosure, I am an Amazon affiliate.)

The main point here is to start now.  Assess your leadership skills and figure out what you need to improve. The People Management skill is ranked #4 for a reason.  If you need improvement in this area, the sooner you start, the better.

 

Countdown: Skill #6 Emotional Intelligence

Countdown: Skill #6 Emotional Intelligence

In my original post in this series ( http://bit.ly/2v8mXJm ), I listed the 10 skills critical to your success as a Freelancer in the growing upheaval of the worldwide job market.  Today I’m going to discuss Emotional Intelligence, #6 in the series.

 

Emotional Intelligence is Important Because?

 

It is one of the essentials of leadership (there’s that word again).  Yes, as a future Freelancer, you are expected to be a good leader.  Part of your job will be the bringing together of disparate groups who need to get along if your projects are going to succeed.  In order to do this, you need to develop your Emotional Intelligence skills.

Emotional Intelligence (also referred to as EI in this post) is linked to your own success.  Studies show 90% of top performers are high in EI.

Emotional Intelligence also leads to personal happiness and achievement.

 

4 Core Skills Comprise EI

Self Awareness

Self Awareness is defined as the ability to perceive our own emotions and your reactions in given situations.

What gets you excited?  What angers or frustrates you?  How and when do you show your emotions?  How does showing your emotions affect others? In what ways?

Knowing how you react emotionally in any given situation and staying aware of those emotions as they happen is the key here.

Self-Management

Here is the best definition of self-management I have found. It’s the first two lines of Rudyard Kipling’s famous poem “If”.  “If you can keep your head when all about you are losing theirs and blaming it on you.”

Self-management is the ability to stay calm, cool, and collected.  Not allowing others to derail, distract, or disrupt your leadership in any given situation.

Social Awareness

Social awareness is the ability to pick up on how other people feel and why they feel that way.

It’s also developing a high sense of empathy which is the ability to understand the other person’s situation.  Add to this, the ability to meet the needs of clients and customers.

 

Relationship Management

 

Relationship management is bringing it all together.  It’s the ability to listen to all sides, using your awareness of  your own and others emotions to reach agreement. It’s applying creativity to a collaborative decision so that decisions are made from the bottom up. It’s also using clear communication to resolve conflict and build lasting bonds.

Relationships develop over time by frequency and depth of contact with others. The idea here is to build networks of individuals you can use to further your Freelancing practice, and better serve your clients.

 

Where Can I Learn About Improving My EI?

 

If you’ve been following my blogs, you’ll know the first place I always start is with books.  Start with Amazon, your local bookstore, or your local library.  One excellent book on the subject I found is Ian Tuhovsky’s Emotional Intelligence.  It’s an excellent guide to understanding and improving your EI.  There are also some nice freebies at the end. I’ve included a link below if you’d like to order this book. (Full disclosure, I am an Amazon Affiliate.)

Check online for courses.  If you Google “Courses in Emotional Intelligence”, you’ll find everything from University Courses leading to leadership certification to seminars to free online training.

 

When Should I Start?

 

Today!  The upheaval in the world job market is already underway.  Software technology and robots are replacing people at an ever increasing pace.  Forbes estimates 50% of the labor force will be Freelancers by 2020 ( http://bit.ly/2tfLsjq ). This is good news for you, but only if you act now so you are ready to take advantage of the shift.

One more thing.  If you’d like to read the full text of Rudyard Kipling’s Poem IF, click here ( http://bit.ly/2irfa3X ).  Ladies I apologize in advance for the poem’s tilt toward the male gender.  Kipling wrote it in 1895 when social norms were far different

 

 

 

Countdown: Skill #7 – Judgment & Decision-Making

Countdown: Skill #7 – Judgment & Decision-Making

In my original blog in this series (http://bit.ly/2v8mXJm), I said there were 10 skills critical to your future success in the coming turbulent job market.  Today I want to discuss skill # 7, judgment and decision-making.

 

 

The Importance of Judgment & Decision-Making Skills

 

Futurist Thomas Frey estimates 2 Billion (that’s Billion with a capital B) jobs will be lost by 2030 worldwide. (http://bit.ly/2w4whhN) Those jobs will be lost to robots and software technology.  There will also be lots of new jobs created.  But…the new jobs will require a skill robots and software don’t have.  Human judgment and making the decisions arising out of those judgments.

Your job as a future Freelancer will be to make those judgments and decisions for your clients. And…this will be one of the most sought after skills.

You could be called upon to decide:

  • Whether a program or service will even work for your client.
  • If the program or service is desirable, how will it be integrated?
  • What departments or divisions will fill new roles?
  • What existing jobs may be eliminated or repurposed?
  • Who will be responsible for the maintenance and updating of the new programs?

As you can see, the possibilities are almost endless.

 

Please define Judgment and Decision-Making

 

Judgment is the ability to evaluate a situation as objectively as possible.  Typically this will involve:

  • Defining the challenge or opportunity
  • Coming up with a list of possible solutions.
  • Listing pros and cons of each solution.

Decision-Making is: Choosing a solution and implementing it.

Sounds simple, right?

Ah, if it were only that easy.

There are a few other elements involved, such as:

  • Taking risks
  • Having the courage to put a decision into play
  • Admitting you’re wrong if it doesn’t work.
  • Gathering feedback to try again.

 

Often This Whole Process is Defined as Leadership

 

“Wait a minute!” I hear you say.  “If I’m a Freelancer, why do I have to be a leader?”

Any one who has ever been in the military will tell you; leaders exist at every level.  From the smallest unit of 3 people, to the Chairman of the Joint Chiefs of Staff, someone is always in charge.

As a Freelancer, you will be responsible for integrating and coordinating many things.  That means you will be leading. You should be confident in your ability to do research, implement it, and manage conflict amongst others.  You need to be a keen observer, able to spot difficulties early before they grow into a crisis.  This requires an action orientation and an assumption of risk.

The distressing part of this whole thing is that research shows most people make decisions based on emotion.  Then they try to justify that decision with logic.

It will be up to you to show your clients a better way.

 

Where Can I go to Learn About Judgment?

 

Lots of places.  As always, there are books.  One of the best I have found is by Noel Tichy and Warren Bennis titled Judgment, How Winning Leaders Make Great Calls. This book deals mainly with senior leadership in large organizations. It is still a good tutorial for developing the skills needed for good judgment. Plus, there’s a nifty handbook included at the end.  There is a link below if you would like to buy this book. (Full disclosure, I am an Amazon Affiliate)

There are also lots of courses available.  Just Google “Decision-Making Courses” and a ton of choices will come up.

Finally, there’s plain old everyday practice.  We all make decisions.  Lots of them, every single day.  Some turn out well, others not so much.  Analyze the good ones.  What did you do right?  Learn from the bad ones.  What could you have done better or differently?

The important thing is to start now.  The better you are, the more prepared you will be when that Freelancing opportunity appears.

 

 

How Freelancers Will Change the Economy

How Freelancers Will Change the Economy

There is no doubt.  Freelancing will be the future of the American worker.  The shift is all ready underway.  Here is a great article from Vivian Gianga at Fast Company explaining why.

2

5 Major Ways Freelancers Will Change The Economy By 2040

The 9-to-5 job is dying. But what will an increasingly independent workforce mean for the economy?

BY VIVIAN GIANG4 MINUTE READ

Traditional work is dying.

By 2040, the American economy will be “scarcely recognizable,” according to a new report published by the Roosevelt Institute and the Kauffman Foundation.

We’ve seen glimpses of the looming changes already: freelancers now make up 34%–that’s 53 million people–of the U.S. workforce, according to a 2014 survey by Edelman Berland. In the next 25 years, this shift will accelerate in a major way towards entrepreneurship, independent contracting, and “peer-to-peer” work on platforms like TaskRabbit. Additionally, there will be major diversification of entrepreneurship as new platforms like crowdfunding and relocalized production become increasingly popular.

As traditional jobs wane, there will be some growing pains. “It’s going to put major strains on our public fiscal system,” says Dane Stangler, vice president of research and policy at the Kauffman Foundation. “We’ve built all of our massive entitlement programs–whether it’s social security for retirement or health care systems or unemployment insurance or whatever–around this notion of a fixed job.”

As we veer from this traditional work model, Stangler says the government will end up losing major payroll taxes, and that’s going to create challenges for our fiscal system unless some “very significant policy adaptations” are made.

He warns: “There’s a whole ripple effect if this is going to be an actual and growing part of the economy.”

The report, which includes insights from 30 economists, technologists, policy makers, and entrepreneurs, focuses on four main topics: the future of work, the future of technology, the future of entrepreneurship, and the future of inequality. Below are five changes to expect from America’s next economy:

1. WORK WILL CONSIST OF MANY “SHORT-TERM” ASSIGNMENTS

It used to be that having a job meant security and success for Americans. Since the recession, the idea that a good job is the centerpiece of the “good economy” was proven wrong, as people realized having a good job doesn’t equate to job security.

A career will be composed of thousands of short-term assignments spread out over a lifetime.

By 2040, the job market will consist of part-time assignments, portfolio careers, and entrepreneurialism. Instead of day-in, day-out work consisting of much of the same responsibilities, a “career, then, will be composed of thousands of [short-term] assignments spread out over a lifetime,” says the report.

In other words, workers will work on short-term assignments ranging from several days to multiple years, and will become employees for their own firms. As this becomes the norm, the vast majority of job growth in 2040 will come from small businesses.

2. THERE WILL BE MORE PLATFORMS AIMED AT MITIGATING ECONOMIC RISK

As traditional jobs–with their health insurance, retirement planning, and tax withholdings–disappear, we will see more platforms and institutions develop to help workers and their families manage exigencies and mitigate risks. These platforms will meet needs in three distinct categories, according to the report:

1. Offer new means of marketing and selling goods and services, like Etsy does with handmade crafts.

2. Provide ways for workers to learn about new assignments, to qualify for and schedule assignments, to collect payments, and to meet such needs as health care, insurance, pensions, child care, and elderly care, like Task Rabbit.

3. Offer training and education programs for workers to connect with the larger market.

3. THERE WILL BE MORE TALENT AGENCIES LOOKING FOR THE STANDARD WORKER

In the past, talent agencies were reserved for performing artists and athletes, but in the next economy, talent agencies and headhunting firms will start to play a bigger role in the lives of the everyday professionals looking to further their career. The report says:

There is not a single model or clear linear path along which the platforms of the new economy will evolve, but it is evident that the profoundly different nature of jobs and work in the emerging new economy will require profoundly different platforms for organizing work and careers.

4. SMALL-BUSINESS GROWTH WILL LEAD TO A BOOST IN WAGES

The rise in self-employment will inevitably increase wages (think: you’re no longer suffering under an underpaying employer). Additionally, as the aging population retires and with a birthrate below replacement, the labor supply will decrease, which will also play a role in boosting wages.

While immigration can help meet new labor demands, it’s unlikely to stall wage growth, according to the report.

5. EVERYONE IS RESPONSIBLE FOR THEIR OWN SUCCESS

Sure, you’ll be free from an underpaying employer, but this also means your career success relies solely on you.

The report says:

In particular, workers will be forced to think constantly about their next assignment, the skills required for that assignment, and the education and credentials required to gain those skills.

There will no longer be specific guidelines or career ladders to guarantee a career trajectory. Instead, workers will have to be savvier than their predecessors, because life has gotten much more complicated.

To be successful, individuals will have to be more entrepreneurial in thinking and planning their lives, meaning constantly selling themselves, defining one’s own work, and educating themselves for future assignments. In the next economy, work may be more lucrative and fulfilling, but the idea that you’ll be professionally rewarded because you’ve been loyal to a company will be a thing of the past.

 

ABOUT THE AUTHOR

Vivian Giang is a business writer of gender conversations, leadership, entrepreneurship, workplace psychology, and whatever else she finds interesting related to work and play. You can find her on Twitter at @vivian_giang.

 

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Here’s 5 Ways You Can Build Your Brand

Here’s 5 Ways You Can Build Your Brand

You’ve started a business.  Now your challenge is to build your brand to attract new customers.  Here is a great post by Annetta Powell that tells you how.

5 Effective Brand Building Strategies to Attract Customers

IN MARKETING|BY ANNETTA POWELL

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Brand building is an integral aspect of personal and business development. It not only increases the voice and consumer awareness of a brand, but it also gives it an identity and worth.  The advent of participatory and interactive platforms has given many businesses the chance to enhance brand awareness and equity. If you have been thinking of building a personal or business brand,  then it is important for you to know that brand building takes a great deal of time and resources.  In the section that follows, we shall define brand building and also look at different types of brands and the steps to create a successful brand.

What Is Brand Building?

There is no one definition that actually captures the essence of brand buildingin its entirety.  Many people think that brand building is all about communicating and exposing your brand. That is just one side of it. The best way we can define it is that it is a process of creating value to consumers.  It encompasses all things that consumers know, feel, and experience about your business in its entirety.

Having defined brand building, we shall now look at 3 popular types of brands and what they stand for.

  • Service brand- this brand is built on knowledge, culture, and experience that one has with the service delivering agency/company/people. Think of Geek Squad or Molly Maid.
  • Retail brand- this brand is built on a mixture of products and service experience. Think of Chick-fil-a, Kroger, or KFC
  • Product brand- is built on the experience that one has with a specific product. Think of Nike, Ford, or Sony.

Having looked at the 3 popular types of brands, we shall now proceed to look at steps involved in brand building.

1.) Define Your Brand

The first stage in brand building is defining your brand. This is a very critical step as it ultimately determines what your brand truly stands for. When defining your business brand, you should create a checklist of its core strengths. Similarly, if you’re defining a personal brand, you should look at the skills and expertise that you possess especially those which stand out. On the same token, you also need to know what your brand stands for and what is important for your brand (brand values). Your values should in one way or another show that you are contributing to environmental, social, and economic well-being of consumers. You may not realize some of these important aspects of brand building immediately, until you look at them objectively.

2.) Differentiate and Position Your Brand

Before embarking on brand building, you have to take time to differentiate it so that you can attract attention and stand out from competitors.  To differentiate your brand, you have to create a unique advantage in the mind of consumers not merely getting attention by brand building colors or logos or other superficial elements. Once you come up with a unique value proposition, you should use a good branding strategy to position your brand in a way that will help consumers see and appreciate the greater value of your brand over competing ones in the market.

3) Build and Expose your Brand

As I indicated earlier, brand building is not a one off thing. Building a unique and powerful personal or business brand takes time and consistency.     To build your personal brand, you have to keep reinforcing your values and skills by taking up new roles and assignments that will give you more exposure.  Alternatively, you can use promotional channels, blogs, forums, and social media (LinkedIn, Twitter and Facebook) to create a voice for your personal or business brand.

When building your brand, you should also endeavor to develop brand personality (what people know, think, and say about you). This is what drives or motivates people to identify with and engage with your brand.  The truth is; if you execute your brand building strategies consistently, then you will easily establish a pattern that will forever be associated with your brand name.

4.) Personalize your Brand

If you want your brand building campaign or brand to be successful, then you have to personalize it. It is important to give your brand an identity. Let consumers see and experience the personality of your brand in its entirety. Look at your brand as something that a consumer wants to identify with pretty much as they would with their favorite cars, cellphones, or computers.

As you engage in brand building, you should also invite customers to be co-creators of brand values so that they can feel that they also own it and relate with it.  Top brands encourage consumer-brand interaction by personalizing products to meet the needs and preferences of consumers.  When you personalize your brand, you give consumers reason to participate and engage with your brand for a lifetime.

5.) Review Your Brand

Your brand is not static; it will go through a range of motions in its lifetime. Depending on your brand strategies, your brand will either grow in strength, or remain dormant, or recede with time. In the brand cycle, new events, changes, and circumstances bring challenges and opportunities to enhance the value of your brand or re-establish it. All these possibilities should give you the impetus to take charge of your brand building activities.

As your brand name grows, so do the responsibilities and expectations to continue with brand building.  The best way of ensuring brand growth is reviewing your activities and evaluating your successes through metrics such as levels of brand awareness and levels of engagements. Regular reviews will help you seize and exploit new opportunities while upholding your commitment to remain true to your vision and brand strategy. It will also help you steer your brand in the right direction and keep it relevant as you move into the future.

As you can see, brand building is not a one off thing. You have to define your brand, differentiate, present it, and review what your brand stands for from time to time. It is very important to be clear about your branding strategies and how you’re going to implement them.  You should also adopt brand strategies that will add value to your consumers and help them develop the right impression of your company and what it truly stands for.

 

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Annetta Powell

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