Technology is advancing at a very rapid pace. What was new yesterday is obsolete today. Today there are machines that do the work of many men. As a result men/women are becoming redundant and being thrown out of jobs.

This is true across industries, across functions, all over the world. With the rapid growth in online shopping, retail outlets are decreasing in numbers, many large stores are replacing payment counters with self-checkout kiosks, airport check in is now done online or again at self-operated kiosks, computers have taken over large tracts of jobs in almost every industry with accounts and finance personnel as also data analysts being cast aside by software programmes. Online education has become a big industry and is posing a challenge to the traditional teaching institutes. Every which way you look, technology is making heavy inroads into people’s lives to their detriment in many ways.

Replaced by machines

All this suggests that there will be further changes on the job front over the next few years. It is believed that a large proportion of jobs that exist today will be superfluous and obsolete in a few years time. As a  result many people will be laid off because of lack of relevant skills or there will be long stretches of time when they are out of a job.

It has been seen that whenever new technology is introduced, employees feel threatened and there is a sense a disconnect from their work.  They see themselves being replaced by machines and know that they will soon be asked to go. And it is felt that the middle class will bear the brunt of this decrease in job opportunities.

Information & communication economy

The nature of the economy has been changing over the years. Most countries start of as an agrarian society then they graduate to becoming an industrial one and then the shift is to an information & communication economy. We need to keep up with these changes if we are to move ahead. The problem is that old jobs become obsolete faster than new jobs can be created. So this might be a good time to get out and start something of your own as we don’t know what form the economy will take – freelance, part-time, outsourced, contractual – could be anything.

Starting your own organization

So how do you go about starting your own organization that gives you and others employment and a means of livelihood. Begin by studying other new entrepreneurs and see how they have tackled this problem. The successful ones among these have probably got the equation right and should therefore serve as guides for those planning to venture out on their own.

Some suggestions on how to succeed in your own business:

Become responsible for  your family’s income along with your own. If one channel of income is insufficient find multiple ways to generate income. Live in the present but invest for the future – you never know when things may get difficult and your income sources dry up or become out-dated.

Research and find out unsatisfied needs in your area – then see if you can fulfill these needs with your expertise.  Start a business that you have knowledge about and which you know you can handle efficiently. Create a strong presence for your product/service – get yourself and your product / service a distinct personality so that customers ask for you in preference to others. I f you have the passion and dedication to build a self-sustaining business, you will succeed, for yourself and will also provide livelihoods for a lot of people around you.