It’s clear that unemployment is something that we aren’t getting rid of any time soon. It has been a global crisis for decades. With health pandemics, natural disasters, wars, political unrest and economic collapses taking centre stage in most of the world, creating employment is not high on the priority list of socioeconomic issues to focus on.
Thankfully, there’s a solution. One that doesn’t require waiting for the government to create jobs, nor does it require going through the job hunting process which is usually full of disappointment and rejection.
The Digital Market is a space that has a ton of opportunities to increase your income without dealing with the constant rejection faced in the traditional marketplace.
What is this magical marketplace known as the Digital Marketplace?
Well, simply put, the Digital Marketplace, as the name suggests, is a type of online e-commerce website where products or services are provided by multiple third parties. For example, if you create an eBook and sell it online, you will be working with multiple third parties to get your eBook to the customer. These third parties might include Amazon, which serves to market your eBook to its existing customers. For this, Amazon gets a cut of your profits because they do all the marketing and customer service. You may also work with a digital graphic designer to design your eBook cover (because this is a very important element to maximize your sales). You might use a website like fiverr.com to find a good affordable cover. The digital graphic designer gives a commission of what you pay them to Fiverr because Fiverr does the marketing and customer service that helps find customers for their service.
Getting a piece of this digital marketplace pie is the answer to avoiding becoming part of the unemployment statistics in your country and on a global scale. The example above is only the tip of the iceberg when we talk about how to make money in the digital market. The best part is that the digital market is so huge and diverse, that you’re guaranteed to find opportunities to make money online, no matter where you are in the world, and no matter what your talents, experience, age or educational background is.
Here are 3 Reasons Why the Digital Market is the Best Place to Escape the Unemployment Crisis.
- The Digital Marketplace eliminates the limitation of location when seeking money-making opportunities.
When a person is job-seeking in the traditional sense, they are limited to jobs and opportunities in their area or city. Some jobs emphasize that applicants should reside in the same city as the company, or they should be willing to relocate.
Opportunities to make money in the digital space are not limited to where a person lives. Online, you can get hired or get paid by companies based across the world from where you currently live. This opens you up to way more chances to make an income, no matter where you live.
Another added bonus is that you have the opportunity to earn money in currencies that may be stronger than your local currency, allowing you to earn even more when you convert your income to your local currency.
2. Opportunities to grow in a digital career are easier and faster than the career development and growth potential in traditional careers.
Getting a promotion at a typical job is something an employee might dream about but might never experience in reality. Those who are lucky enough to get a promotion or advance in their career usually have to jump through hoops to impress their boss enough to be considered for a raise or a job title upgrade.
In the digital workspace and marketplace, advancing in your career or increasing your earning potential is a much easier and quicker transition. In the digital marketplace, your earning potential is limitless. It’s up to you how much money you want to make.
For example, if you’re providing a service online, or selling a product, you can increase your customers by using Search Engine Optimization (S.E.O) to increase your visibility online by ranking higher on search pages, therefore increasing your income. If you were providing an in-person service, however, your reach would be limited to the people around you, who need your service. Not to mention, if you have competitors in your area, your customer base is even more limited. This might make it impossible to scale your business or grow your customer base unless you branch out to other areas which will require hiring more staff and renting more store space, which is a long and expensive process.
3. The Digital Marketplace provides Financial Security and Financial Stability
Traditional jobs, while most people might be convinced otherwise, are very fragile. As the recent global pandemic has shown, an unforeseen and uncontrollable event could cause the entire world to go into a frenzy. Causing companies and governments to be unable to provide income to individuals and households worldwide. Many people sadly lost their jobs without warning and were only given a 3-month exit package. Most of these previously believed that having a job meant they would always be financially stable and secure.
This isn’t an issue faced by digital marketplace earners and entrepreneurs. It’s not to say that digital marketers and online earners don’t have slow weeks or slow months of income, but a simple change of strategy can usually fix this problem in the digital marketplace.
If you were selling an eBook on Amazon, for example, and eBook sales began to slow down, you could try selling the book on other platforms similar to Amazon. You could hire social media influencers to promote your eBook to drive more traffic and sales to it. You could even simply change the cover of the eBook, to see if a different cover might attract new buyers. However, it would be costly to try to change the book covers of printed hardcopy books. Not to mention the admin of going to different bookstores, trying to compete with the bestselling authors they display in the front of the store. In the digital marketplace, you have more control of your income potential as opposed to being reliant on external companies to determine your financial stability or security.
So, based on the 3 abovementioned reasons, it’s clear that the way to escape unemployment isn’t to keep applying for jobs and hoping that the company that hires you will guarantee you financial security for a lifetime. The best solution to avoid falling victim to the economic monster that is unemployment is to educate yourself on how you can get a piece of this tasty digital market pie.
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