Wednesday, June 11, 2008

The end of your career

WARNING: After you read this post, you'll think I'm a crazy person. Like one of those white-bearded fellows who think they are prophets and can accurately predict the End of the World while shouting, "It's Judgment Day! Repent! Repent!"

Well, I'll take my chances because I believe this insight could help you to think in new ways and, quite possibly, help you to MAKE A FORTUNE.

Yes, I mean a fortune as in a net worth of US$1 million. 33 million Americans already have such net worth (which, by the way, does not include the value of the residence you live in).

So here's my "prophecy": The end of your career is coming. (But there's no need to repent, you didn't do anything wrong or naughty. At least, not that I'm aware of.)

In fact, your "career" mostly likely never existed. You were just used as a human resource to power the business engine called "the company" or "the corporation."

I know many people might be offended when reading this, and might decide to crucify me. But please, hear me out. Put down the wooden cross, the hammer and the nails. Please.

A career can be defined in so many ways, but the best way is to consider a spectrum with "laborism" on the left end and "productism" on the right end.

If you're working for McDonald's, then you're labor. You're easily replaceable. This doesn't mean the job is not good, because many young or inexperienced people could learn a lot by entering the workforce with a McJob. I myself, at age 16, began working in a fast food restaurant and I learned a great deal.

On the other hand, if you're a graphic designer working for an ad agency, then you're closer to the "productism" end, since you actually do create a product which you may decide to include in your portfolio.

Whether or not you own the product you created, is a complicated matter that I'll discuss in a future post.

But right now, for the sake of discussing how "vulnerable" or "solid" your career is, let's focus on where you are on the laborism-productism spectrum.

My main point is that the more your work focuses on creating a product, the faster or sooner you will achieve financial independence. With the Internet and Fedex, your time to financial freedom is even dramatically shortened if you have a product to sell that has near-universal appeal.

Most Linkedin users are, in fact, facing only one major obstacle to becoming financially free: they do not know how to create a product.

The average Linkedin user is 39 years old, and has a household income of $140,000. That's not a lot. It's about $70,000 per person.

A mid six-figure income would be acceptable.

The best way to earn an income of $500,000, of course, is to create a product and then spam everybody.

I'm just kidding. Create an information product, then sell it to people who could benefit from it.

That's what I mean when I say that everybody's career will end soon. That's because:

1. If your job involves mostly labor (and no creation of new products), then your job will soon be outsourced or automated.

2. If your job involves creating a product, then the employer owns ALL the legal rights to that product, including the intellectual property involved in creating it or resulting from it. In such a case, you will one day realize that you're being unfairly exploited and will quit your job to start your own business. Watch the movie The Spanish Prisoner for an entertaining and suspenseful treatment of this crucial topic of who should own the intellectual property.

In both cases, your career -- as you know it -- will end.

This is why so many people are flocking to Linkedin. They sense that something is wrong in the system, and they want to explore new ways to make a living. They want new economic options.

In my case, I quit corporate America in June 2000 when I was 31 years old. I've launched several successful businesses since then, and will likely retire financially wealthy before I'm 40 years old.

I'm becoming a global wealth consultant who sincerely desires to help people to achieve financial freedom. Read and subscribe to the free newsletter. You won't regret it.

The first thing I tell clients is, "Consider the possibility that your career is the biggest obstacle to your financial freedom."

Think about that for a while. I will write more on it.