Glenn Stewart Coles, 9251 Yonge Street, Suite 8-924, Richmond Hill, Ontario, Canada, L4C 9T3
Text Box: A shift is underway in the world economy and people are nervous. Things have not worked under the old structure and many changes are taking place. Stock market values have dropped and the roller coaster continues. Credit limits have been tightened and many companies are feeling the crunch. The leading edge of a depression has seen thousands of workers suddenly without work and thousands of families forced from their homes. The prime element holding us back is pessimism. If people felt optimistic about their future, they would spend and buy as before. If companies felt optimistic they would be looking at new projects instead of cutting back. If banks felt optimistic, they would lend money to businesses and people dependent upon intent rather than history and risk. Instead, many prepare for worse times. The condition of the economy is a reflection of the way that we all feel about the world. Though every individual has unique thoughts, we tend to have similar feelings about many things. When the death of Princess Diana saddened the world, we learned that mass feelings can be shared. When the home team wins a major trophy, the excitement of group celebration elevates feelings for participating individuals. When the money system falters, we all have emotional ties. In the United States, president-elect Barack Obama prepares for inauguration in January. According to reports, Obama plans a ‘running start’ in the New Year. Change is coming and it will happen quickly. Economic leaders are already making plans and forming teams. Businesses are thinking about finishing off the current year and preparing for the next. 2008 has been a full year and while some people are already winding down for the holidays, others are operating at full speed. There are just over four weeks remaining in 2008 and I have already begun spinning the wheels of 2009. In addition to completing projects planned for this year, I have begun identifying projects that are important to me in January. While some efforts can be deferred until the New Year, in other cases adding to the spin in December increases potential for January. As we all prepare for the New Year, we could consider how to benefit from the new economy. The creation of money involves the provision of value. If you have something of value to sell, you have a potential source of income. If the valuable thing that you sell is a material item such as a watch or painting, you can only sell it once. If you sell your valuable services, you are limited to the number of hours that you can work, no matter what your rate. If you really want to create income there are two ways to expand your efforts. One way is to organize the efforts of other people. If people provide you with product or revenues in excess of the expense, you have a profitable business. Limitations are based on the expansion of sales and the expansion of the group. Once in place a continuous revenue stream must be assured to maintain the structure. The strength of a company is often measured in its ability to quickly adapt costs. The new economy will see more contracts than employment arrangements. Another way to make money is to sell your skills exponentially. If you teach a skill to one person, you get paid an hourly rate. If you teach the same skill to a group, each student pays less and you make more. If you have knowledge or skills that have proved valuable, others may be willing to pay you to share what you know. If you can teach or deliver a skill over the Internet, you have an enormous audience and the ability to turn small effort into large income. In the new economy, people will have to float. Jobs may be temporary or seasonal. Skills must be transportable. The ability of individuals to make money may depend less upon where you live and more upon what you know. Physical tasks will tend to be done by local labor; those who share knowledge can share it worldwide. The revolution of individual knowledge is about to hit the internet. The coordination of group efforts assists creation globally. We have only just begun. © Copyright Glenn Stewart Coles, 2008 First Published December 1, 2008

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The prime element holding us back is pessimism.
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