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JOIN THE MOVEMENT THAT IS CHANGING THE WAY WE WORK AND LIVE BY THE EDITORS OF SUCCESS © 2016 SUCCESS. All rights reserved. No part of this book may be reproduced, stored in a retreival system, or transmitted by any means, electronic, mechanical, photocopying, recording, or otherwise, without written permission of the copyright holder. ISBN: 978-1-935944-16-4 Published by 5800 Democracy Drive Plano, Texas 75024 U.S.A. Toll-free: 800-752-2030 www.SUCCESS.com SUCCESS® is a trademark of SUCCESS Partners Holding Company, LP. Acknowledgments The editors at SUCCESS magazine wish to thank those on our staff who played a role in bringing this project to life. Whether they contributed on the editorial side or in design and layout, their effort proved invaluable and indispensable in bringing The YouEconomy to our readers. We extend our special gratitude to Editor Amy Anderson, whose tireless effort, dedication, and research made this book possible, and to Brand Manager Charlee Russell, whose exemplary leadership and cheerful outlook shepherded The YouEconomy from concept to completion. Contents Introduction ............................ 1 Chapter One: The Secret Is Out .......................9 Chapter Two: Take Control of Your Time .............32 Chapter Three: Take Control of Your Money ............47 Chapter Four: Let Your Passion Lead the Way .........62 Chapter Five: Work with People You Actually Like ....83 Chapter Six: 9 Ways to Join the YouEconomy ........97 Chapter Seven: How to Get Started ....................118 Chapter Eight: How to Keep Going Strong ............132 Chapter Nine: Why Not You and Why Not Now? .....145 Introduction 1 Introduction This book is about you. It’s about people who long for more time, who have big plans for more money, and who are ready to take control of their own lives. It’s about the part-timers, side hustlers, and dreamers. It’s about the drivers, renters, and sellers. It’s about the freelancers, contractors, consultants, and masters of the gig. This book is the story of how the old economy’s failings have given rise to a new economy where you have a real say in the way you create, earn, and build. A new way of working where all you need is an idea and an iPhone. A new way of living where every person you meet is part of your lifestyle. And a new way of thinking about real freedom and a bright future. This book is about the reality, the rise, and the reign of the YouEconomy. In many ways, it may already rule your life. If you’ve used a Web-based application to call for a car, share a room in a stranger’s house, or hire a virtual helper, you’ve participated in the YouEconomy. If you’ve sold something on eBay, bartered your time on TaskRabbit, or listed your freelance services on Fiverr, you’ve increased the influence of the YouEconomy in someone else’s life. Even if you’ve never heard of any of these platforms, much less participated in them, all of us are impacted by the YouEconomy indirectly. In fact, a 2016 national Pew Research Center survey found that 72 percent of American adults have used at least one shared or on- demand service, with one in five Americans using four or more of them1. So if that 72 percent doesn’t include you, it likely includes someone you love or even live with. That’s why you picked up this book. Because know it or not, ready or not, the YouEconomy is here to stay. And it’s changing everything. What Is the YouEconomy and Why Do We Care? We’ve noticed that people are changing the way they work. Have you? They’re disappearing from cubicles. Abandoning their commute. Earning extra money. Gaining free time. Creating legacy. And often, smiling more. They’re all part of the YouEconomy. 1 Shared, Collaborative, and On Demand: The New Digital Economy by Aaron Smith, Associate Director Pew Research Center Introduction 2 The YouEconomy is the growing, global movement of people who are taking the future of work into their own hands. They’re sharing resources and technology, taking gigs through job sites, creating freelance businesses, and innovating methods of generating income. Folks in the YouEconomy are applying their experience in new ways, learning new skills, and tapping into endless resources for training. They’re designing their lives, carving out time for family, and building professions based on their passions. Along the way, the friends they’re making, people they’re meeting, and places they’re seeing are enriching their lives beyond what they thought was possible. Much like a secret society that’s finally out in the open, the YouEconomy has been around for a while. But as with any secret, when the timing is right and the means of communication are available, the secret gets out. We at SUCCESS magazine are honored to be on this thrilling new journey with you. Before we get too far, let us tell you a bit about ourselves so you understand our interest in this revolutionary time in history. Founded in 1897, SUCCESS magazine was a pioneering publication in personal and professional development. Today, through the print magazine, the included SUCCESS Talks audio CD, and SUCCESS. com, we have the privilege of continuing an impactful legacy. Each month we interview the best experts, entrepreneurs, and achievers in the world, and distill their advice and wisdom to bring you actionable tips, strategies, and plans to achieve your own success in every area of life. We’ve expanded our personal development resources to include SUCCESS Academy digital learning courses, our weekly podcast SUCCESS Insider, and a selection of the best in personal development products in the SUCCESS Store. We’re proud to offer entrepreneurs and achievers the best in personal growth strategies and tools. So here at SUCCESS, we know firsthand that entrepreneurship has been around for centuries, and the idea of part-time work to supplement a primary income isn’t new. But these ingredients alone weren’t enough to spur the revolution that is the YouEconomy. It has taken a specific mix of technology, timing, and economic evolution to create the right Introduction 3 environment for the YouEconomy to thrive and, in doing so, come out of the shadows. The YouEconomy is like an umbrella over the sharing, on-demand, and gig economies, freelancing, and other movements toward economic freedom and flexibility. Whatever term you attach, its impact on the readers of SUCCESS has been—and will continue to be—so profound that we simply had to study it to learn the keys to making the most of life within the new paradigm. Soon we understood that the YouEconomy, as we label it broadly, is a movement toward the best life—your best life. Who Is This Book For? As we gathered the stories in the following chapters, we had you in mind from the beginning. But creating a book on the YouEconomy that could illustrate the immense opportunity available to everyone, turned out to be a tall order. The YouEconomy isn’t just for people who want to drive for Uber or start a freelance graphic design business. While these folks are part of the mix, the reality of the YouEconomy is that it provides opportunity for a diverse demographic with a variety of needs and goals. In fact, the demographics are surprising. The YouEconomy encompasses all ages, ethnic backgrounds, and education levels. We did find that, as diverse as the people in the YouEconomy are, they generally have three things in common: 1. They have more control over how they spend their time than the average employee. 2. They have more control over their income than the average employee. 3. And they are actively learning and exploring new ways of creating prosperity. If you recognize your dream in this list, that’s good news. It means that this book could be the doorway to your best life. Whether you’re seeking income, independence, freedom, or flexibility, you can find it in the YouEconomy. There are paths to success for people with and without skills, for those looking to learn and those looking to teach. The YouEconomy helps you gain more control, create more meaning, and become part of something bigger. It’s the unlimited potential that innovators and entrepreneurs have been waiting for, but it’s also the perfect chance for individuals to find and serve their communities. Introduction 4 Whatever your dream, the YouEconomy can help you achieve it, if you’re willing to act. Why Is This Happening Now? Entrepreneurs, freelancers, and consultants have been taking their careers into their own hands for a long time. But the limit of resources, restrictions on communication, and high risk kept most people from participating in an economy that largely created rewards only for the employed and the rare few who employed them. Side gigs or part-time jobs sapped the time and energy of those who braved them due to travel time, slow communications, and limited options. YouEconomy technology has allowed the side job to become far more accessible, and therefore, far more common. Today, the traditional economy has transformed. Far from just a technological fad, the YouEconomy is a market force that has evolved organically over time. Some experts are even calling it the new Industrial Revolution because it may result in a similar upheaval in both how we work and how we live. For any revolution to take shape, there must first be a fundamental shift in how people see things. The mindset change that brought about the YouEconomy took root decades ago as workers began to question the traditional career trajectory they had watched their parents and grandparents follow.