What comes to mind when we think of the word career? Do you think of entrepreneurial freedom or an archaic norm such as 9-5?
Millennials everywhere have begun to branch out. They are beginning to question the system that is set in place. Individuals are starting to look outside of the narrow linear funnel society has designed for them. With the rise in tuition costs that leave students in crippling debt, many are turning to other sources besides the collegiate path. Fewer and fewer people are attending college and instead investigating alternate life paths. People have begun to embrace a digital age where technology and content drive the world we live in. Never before in history have we had so many self-made millionaires because of the ability to self-publish content. YouTube, blogs, apps, and other digital technologies have created new models for individuals to generate income.
So who are these digital pioneers?
There are many labels. At their core, they are groups of individuals who have carved out highly successful “life design” models that are different from the paved path.
- Digital Nomads: Individuals who use technology to earn a living and be location independent. These workers can work remotely, from home, coffee shops, libraries or anywhere in the world they so choose. Digital are nomadic (surprise, surprise) and pride themselves on location independence. These nomads use the internet, smartphones, and other technology to be successful. The label of digital nomad has become so popular it even has its own global conference, the DNX.
- Multipotentialites: A label made popular by Emilie Wapnick owner author of the blog Puttylike. Multipotentialites are a group of people who are multi-passionate who often do not tie themselves to one unique career choice. Multipotentialites like their name are multi-passionate. You’ve probably heard the phrase jack-of-all-trades, and this certainly applies to multipotentialites. Multipotentialites use their unique diverse interests to create successful business models. Puttylike prides itself on its community and created The Puttytribe, where readers can work together and collaborate over different passions. Emilie also sells a book called The Renaissance Business, which helps folks that have multiple passions create a business around them.
- Split Mentalities: A unconventional community blog that opposes societal norms. The split mentality community decrypts modern society and it’s antiquated method of cultivating careers. The blog Split Mentality focuses on unique lifestyle design and seeks to help people break free from the 9-5 grind.
- Social Viralites: These are probably the people you are most familiar with. These people are behind viral videos and content you see on your social mediums. These individuals create highly visible shareable content that establishes them as in expert in a specific niche. These niches range from comedy to cooking to DIY projects. It may not be immediately apparent to you, but these individuals publishing content are generating large revenue from income multiple channels.
How do these people actually make money?
There are many channels for these entrepreneurs to make money.
- Selling digital products
Individuals author and sell products, guides, eBooks, and other digital content.
- Offering digital services
Individuals offer a variety of digital services such as training courses or private coaching
- Affiliate marketing
The process of selling other people’s products and making a commission. Affiliates often must establish a community of which they can market these products to.
- Ad revenue
High volume blogs, video channels, and websites can make substantial revenue selling ad space on their medium.
These business models are often successful because they generate income with a set-it-and-forget-it business model. They take “you” and your time out of the equation.
All of the methods described above operate behind the scenes. You do not have to get in your car, drive to work and physically work 8 hours per day. Selling digital products and services can make you money while you sleep. This brings up the question of “how much is your time worth?” Time is the only currency we can spend but never earn.