According to "The Rich Employee" by James Altucher the average millionaire in the United States has at least 7 streams of income.
Another reason for multiple streams of income is that platforms change. Many remember the Google updates that reduced income for many online business owners. Some never recovered from the devastating effect of these updates.
In the popular book Exponential Organizations, employers are being taught how to outsource work to save up to 30% on resources, taxes, and office space.
However it's not just people in other countries replacing jobs. We've already seen the DIY cash registers at supermarkets and other big box stores.
Yes, very convenient for us as consumers. But not so comforting if you are a store employee. Bank of America is in the process of eliminating humans altogether at the drive-through windows.
Frankly, I miss not having the human teller at the window.
But that's just the tip of the iceberg:
According to NBCNews.com there are currently 1.2 million industrial robots working worldwide. That's one robot for every 5,000 people, according to the book Robotic Nation.
Robots are currently analyzing documents, filling prescriptions, and handling other tasks that were once exclusively done by humans. Apple and Samsung supplier Foxconn has replaced 60,000 factory workers with robots.
The researchers at the World Economic Forum state by 2020, a grand total of 7.1 million jobs will be lost as a direct result of innovations. Driver-less cars are forecast to make up 75% of all traffic by 2040.
And back to the present; Former McDonald's chief executive Ed Rensi recently said; "a minimum-wage increase to $15 an hour would make companies consider robot workers".
According to Rensi: "It's cheaper to buy a $35,000 robotic arm than it is to hire an employee who is inefficient, making $15 an hour bagging French fries."
Think only blue collar or fast food workers should be concerned?
An article in The Week, explains how a a team of researchers (a group which includes practicing surgeons) have created a new robot dubbed STAR which can outperform surgeons in the operating room.
In practice trials the researchers found that STAR’s surgical results “were more consistent and had fewer mistakes” than its human creators.
Odds are that your job will be heavily impacted, if not disrupted, by technology in the near future.
Welcome to the age of the Entrepreneur!
One of the most insightful statistics state that "by the year 2020 - 50% of the workforce will own their own businesses by necessity."
In other words because they can't find jobs HALF of US workers will be forced into full, or part, time entrepreneurship of some kind.
So my question to you is "Why Wait?"
The HomeBusinessProfiles.Com Membership gives you a way to start exploring new income streams right now.
Having several new streams of income in place will make it much easier to deal with financial changes that could impact you and your family.
Click below to get the HBP podcast show links:
http://www.homebusinessprofiles.com/show-links
