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Automation – How Can We Get Ready for the Future?

by Patrick Ow

Automation - How Can We Get Ready for the Future?

You can get ready for the future by following three steps:

Anticipate the future requirements for skills and knowledge within the context in which you are operating.
Acquire the right skills and knowledge to bridge any gaps between future and present states.
Act now. (Take action now, rather than procrastinating.) ‘Just do it’ will be your motto.

  • Anticipate
  • Acquire
  • Act

Anticipate the Future Requirements

I have documented no less than 62 possible threats to our job security in my book, Shocking Secrets Every Worker Needs to Know: How To Future-Proof Your Job, Increase Your Income, and Protect Your Wealth In Today’s Digital Age.

These threats include job loss due to automation and organizational redundancies, the inability to pay increasing daily expenses due to low wage growth, and the inability to find full-time jobs due to changing demographics.

The speed at which automation will be deployed in our workplaces and lives will take many people off guard because of their complacency or ignorance of what automation and machines are capable of doing.

How we respond now to future-proof ourselves from these changes, will ultimately determine whether or not our jobs will be lost due to automation.

Acquire the Right Skills and Knowledge

The future of work is about being more human, acquiring employable skills that future employers will die for, and being flexible and adaptive to ever-changing circumstances.

First off, to anticipate the future, we must start by equipping ourselves with the right information and knowledge. We must be equipped with the relevant information to make informed choices about our future, jobs, skills, pathways to success, and ultimately our financial freedom.

The right education and learning will significantly reduce our risk of failure. It will increase our job security. That’s why it’s so important to invest in ourselves first before anything else. By investing in your own education and knowledge, you can effectively avoid any potential dangers ahead, and take safer pathways that you are comfortable with.

Secondly, the next investment you must make is to continuously upgrade your work skills and experience to meet the future job demands of current and future employers. The world is changing so fast that it’s really hard to keep up. For us, it’s about anticipating what the future of work looks like. It’s about predicting what those job demands are.

Essentially, it boils do to three things.
  • Identify whether our jobs are at risk of automation.
  • Identify skills that are likely to be in great demand in the future.
  • Learn how to organize our education, training, and development around the new economy and the future of work.

Research shows that starting a side-business or side-gig while still having a full-time job is the best pathway to success in the long run.

In 2014, research entitled Multiple Job Holding, Skill Diversification, and Mobility, (Panos, Pouliakas, and Zangelidis) investigated the interrelated dynamics of dual job holding, human capital, occupational choice, and job mobility. They found that individuals are holding multiple jobs  as a conduit for obtaining new skills and expertise. These jobs are a stepping stone to new careers and self-employment.

From a practical perspective, holding multiple jobs will give you the diversity and security of income, increased job security, and a strong foundation upon which you can have an ongoing career of your choice. From the evidence gathered by the researchers, individuals doing a side job or business (other than their primary occupation) are more likely to switch to a new primary job in the following year.

That new job is likely to be different from their current primary employment. The study also found that self-employed contract work can also be used as economic security and for upward mobility. Therefore, it important for you to acquire the necessary knowledge, skills, and expertise by starting and running a side business while you still have your 9-to-5 job.

Act Now

Dreams and intentions are great starting points. It’s now a matter of just doing it.

Making a start can be the hardest thing. But once you’ve started, it’s a matter of sustaining that momentum. As you continuously iterate your knowledge and ideas, you will fine-tune and improve yourself and your approach.

When you decide to embark on a journey of entrepreneurship or freelancing, you need to find a business idea that sells.

Here’s a seven-step process to explore some suitable business ideas, selecting that one idea that potentially sells, and making that idea work for you.

Step 1 – Brainstorm and select your proposed business idea from the comprehensive list that I’ve compiled on allmoneymakingideas.com. Get your creative juices flowing.

Step 2 – Develop an overall strategy for making money. This step requires you to determine your money-making criteria, and develop a way to meet those criteria. You will need to update your strategy as you gather more information. Remember that people don’t plan to fail, they fail to plan.

Step 3 – Acquire or develop a product (e.g. e-Books, tools, coaching services, training, etc.) that will help solve your target customers’ problem. The aim is to sell a relevant product to your customers and to make money. Test out your proposed product by converting it into a minimum viable product.

Step 4 – Identify the best platforms and established marketplaces (e.g., eBay, Facebook, blogs, etc.) where the majority of your target customers hang out so that you can sell them your proposed product.

Step 5 – Validate your minimum viable product with your customers using these established marketplaces.

Step 6 – Work hard to market and drive internet traffic to your chosen platforms so that you can convert your visitors into leads, thereafter transforming them into paying customers.

Step 7 – Depending on your testing results, you could scale-up selling this product with your own website, find another new product to sell, or ditch the product altogether.

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