Our relationship with the working world is radically changing! In America, we live in a knowledge based economy that outsources the production of its ideas across the world. (Just look at the imports of Chinese made goods.) Gone are the days of factory workers who put in 40 years in return for a pension plan and social security. Individuals are now defined, gauged, and rewarded, for the value of their ideas.
The current recession coupled with advances in technology have only increased the intensity of this transition. As job seekers have found a shrinking pool of traditional jobs, many are reinventing their own definition of work by finding and creating new opportunities. Some are starting new businesses, some are retooling through school, yet others are creating passive income through e-commerce communities like Etsy and Ponoko.
Accessible, affordable technology is the empowering difference between the industrial revolution and the boutique economy. Have an idea for a new product? Simply create the design with Google’s free Sketchup, send it over the internet to firms in China, and wait for your prototype to arrive in the mail. The technology does not end with the creation of things, however, as unlikely entrepreneurs are applying technology to every business process imaginable. Need an administrative assistant? India has that. Need cheap business software? Web 2.0 companies have put that in the cloud. Even if creating or starting something new is unappealing, technology still empowers the corporate worker. Communication technologies allow us to work smarter and remotely. Individuals can also share their expertise or passions to a vast audience through social media.
Compared to the industrial revolution, the boutique economy will shift the balance of responsibility, reward, and power toward the individual. How are you preparing for the boutique economy?
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