How to Succeed in the YouEconomy Long Term
In 2016, SUCCESS introduced the YouEconomy—an economy in which you take ownership of your path to success.
One of the trickier characteristics of the YouEconomy is that it’s always in flux. It’s always changing, which is why you need to capitalize on the latest trends and project into the future in order to stay ahead of the curve and bring unique value to the marketplace.
So how do you succeed in an ever-changing YouEconomy, long term?
1. Activate your existing skill set in a new capacity.
Look for ways to create something new by capitalizing on a niche in the marketplace that you are uniquely qualified to fill. If you can discern how to activate your existing skill set to meet a market need, you can take ownership of that space in the YouEconomy.
For example, Chance Glasco was an animator for a series of widely popular video games. He became weary after producing different versions of the same game because of a corporate push for sales.
Chance recognized a niche in the technology marketplace where he could activate his unique skills. He co-founded the company called Doghead Simulations, which marries teleconferencing technology and virtual reality. He took control of a new space when he realized virtual reality was making major strides in the social space, but teleconferencing had yet to stake a claim in that industry. By marrying these two concepts together, Chance activated his skill set in a new capacity and was able to leave his corporate position to snatch up a niche in the market.
Consider the following when considering where your niche lies:
- Take inventory of your existing skill set. In what ways might you activate your existing knowledge and expertise differently than you are now?
- Where is there crossover between what you do now and niches you can identify in the marketplace?
- How might you repackage your abilities to create something new?
2. Be willing to accelerate.
To succeed in the YouEconomy, you have to act quickly. Spurring into action can be tricky because it involves intuition and sense-making so that you can turn on a dime. Accelerating means you make your own connections and projections.
Examining the marketplace and recognizing when there’s a unique opportunity is all wasted effort if you spend too much time in planning mode and miss your opportunity to bring ideas to the table. Remember, you will turn, shift and course-correct along the way. There is no perfect way to accelerate—it only requires setting yourself in motion.
3. Embrace experiential learning.
The YouEconomy changes quickly, so you don’t have time to get a specialized degree each time you need to make a shift, and you certainly can’t take time off work to go to each new training that hits the scene. You’ll need to learn on the fly, which means embracing experiential learning.
Cited by McKinsey & Company as what’s missing in most change programs, keeping up with an ever-changing work landscape means turning your experiences into your training. To do this, you need to be intentional about seeking experiences that will fill your knowledge gaps and help you grow.
The YouEconomy isn’t going anywhere. The strategies above will give you an edge on the competition and ensure you will survive and thrive amid rapid change.