The Knowledge Economy & Global Wealth
An Economic Revolution is underway. We stand on the precipice of the Biggest Opportunity in the history of mankind and no, I’m not being overly dramatic or exaggerating. Peter Diamandis, futurist, says, “We truly are living in the most exciting time to be alive.” Phillip Auserwald, author of The Coming Prosperity, calls this time the “most dynamic and promising era in human history—bar none.”
At no other time in the history of mankind has so much economic opportunity been so available to so many. New York Times bestselling author, Malcolm Gladwell, observed: “We’ve seen that extraordinary achievement is less about talent than it is about opportunity.” Lawton and Marom, two other authors agree. “In many cases, that opportunity was strongly related to being at the right place at the right time in history.”
Ray Kroc, the founder of McDonalds said, “Success requires two things: being in the right place at the right time and doing something about it.”
You, my friend, are there. What you do about it is up to you.
You are living in the Third Wealth Revolution and the great multiplier is knowledge. Knowledge is the new currency, the new capital, and the new economic structure. “Information is widely believed to be the future source of prosperity.” According to Ernest and Young “Knowledge plays the predominant role in the creation of wealth, is the only way to prosperity, and is more important than land, tools, and labor.”
Multiplying the Multiplier
Today knowledge is the great multiplier in the Third Economic Revolution, but it is an exponential multiplier because of two other factors that compound its effects: technology and the global marketplace. According to Deliotte, “The Knowledge Economy is the future of the world economy and the internet is its backbone.”
In prior times, the world was linked together by waterways, railways, highways, and airways. But now, in less than thirty years the Internet has become the most powerful global platform offering access to information. And even better, the costs of moving products—especially digital ones—is minuscule compared to moving products through the sea, air, or land. What this means to you is an incredibly inexpensive entry point into options to share your gifts, create wealth, and make a significant difference.
The Rising Billion and the New Currency
Why is today such a unique time in history? It is unique because the world’s population is joining the global economy. We’re living in a world of information and communication abundance that no one could have ever predicted. By 2020, internet users will have gone from two billion to five billion. By 2050, the global population is expected to reach 10 billion. Eight billion new minds who need your knowledge.
And they will have the means to pay for it. They are often referred to as the “rising billion” and are the biggest force for bringing about a world of abundance. According to Peter Diamandis, MIT grad, physician, engineer, entrepreneur, and best-selling author of “Abundance is Our Future” we’re about to have the biggest economic injection ever. These people represent tens of trillions of dollars injected into the global economy. With the rising billions of hyper-connected people, economic growth will not be linear, but exponential.” The Wall Street Journal agrees. Globally the world is poised to “shift hundreds of millions of people into the middle class.” Charles C. Mann of the Atlantic wonders how the planet can sustain all this affluence?” What a wonderful problem to have.
Knowledge is currency. Technology is tool. Global is opportunity.
Too Much Information
I can see that expression on your face. TMI! TMI! (Too much information!) More information? “I’m overwhelmed already,” you scream. “I don’t need more information!” You are right. You don’t. None of us do. What we all need is the Right Knowledge from the Right Person with the Right Application at the Right Time. We need someone we trust to sort it all out for us. And the New Problem is the New Opportunity.
The Trifecta of Wealth: The Three Knowledges: The New Profit Triangle
According to Morgan Stanley, the world’s information is getting organized and monetized. And that opportunity ushered in the New Profit Triangle. The New Profit Triangle consists of three roles: Expert, Educator, and Entrepreneur.
The Expert curates and creates Knowledge and he knows which knowledge is central and which knowledge is “extra.” The Expert also knows how to prioritize that central knowledge—and makes a clear distinction in application between major and minor.
But it’s not enough to be an Expert. You must be an Expert Who Knows How to Educate, with a flair for making the complex and difficult, understandable and doable. And therein, is your Entrepreneurial opportunity. As Harvard Business Review says, “Never before have customers considered themselves learners, and businesses considered themselves educators.”
In the UK alone, knowledge-economy businesses are growing 4x faster than businesses in all other sections of the economy, according to research done by the professional services firm of Procorre. It’s no wonder that Harvard Business Review said, “The next wave of economic growth is going to come from knowledge-based businesses.” As Archimedes, the ancient engineer who used thinking about physics and mechanics to create catapults said, “Give me a place to stand, and with a lever, I will move the world.”
Create Passive Income through an Online Course
Specialized knowledge—especially knowledge that teaches people how to directly profit and build a business from that knowledge—is in high demand worldwide. Online courses from experts sell at a price point of $1,000 and up. Because they are delivered virtually, they are efficient, seamless, and a passive source of income. Best of all, they pass on your well-earned expertise to hungry learners changing their lives in the process.
Knowledge is Profit: Bank Your Knowledge
Maybe you are just starting out and need help learning how to be an Expert, an Educator, and an online Entrepreneur. Maybe you are an established Entrepreneur and Expert in a very specific niche, but don’t know how to Educate (and need help learning how to create a digital multiplier). Bank Your Knowledge exists for you.
Churchill was right when he said, “The empires of the future are the empires of the mind.”