The Benefits Of Building A Business Within A Digital Economy (Part 1)
Consumption & Production
Economies revolve around the consumption and production of goods and services. Since the inception of the internet, online business models have sought to combine the “real” world with the “virtual” world. In many of these instances, the online aspect merely played a role in the ordering and delivery of a real-world product or service. Over time, virtual products were introduced in the form of e-books and other digital products.
Many online business models have since moved into a realm that is entirely virtual. Essentially, many real-world businesses have an online, or digital aspect incorporated into their business model. They are not digital in nature, and yet one can interact and transact digitally. This has been in existence for decades. However, what we are now beginning to see is an economy that is entirely digital.
A world where not only are the transactions “virtual”, but also the product, as well as every other aspect of the business. The world will always require real-world businesses and applications. However, with the advancements over the past decade, especially Crypto, there is now the ability and means to create an economy that is entirely digital. This is made up of numerous ideas, opportunities, and expressions.
In other words, an economy that exists beyond typical “trade” and “barter”. An economy that can operate on alternative models, as well as in the traditional manner. This is where we begin to envision and understand an economy that can operate primarily on the principles of incentivization. Crypto plays an integral part in bringing this dynamic to life and is essentially birthed via the idea and principles of tokenization.
Objectivity Highlights Advantageousness
As we examine the intrinsic workings of these models, we begin to discover a vast array of beneficial factors. Not only beneficial, but also helpful, in that many stresses and expenses can now be avoided, as they are no longer necessary, or even part of the picture. This simultaneously paints a picture of independence. For some, this is important. On the other hand, there are those who are unconcerned, as long as they are generating revenue.
However, as our world continues upon its current trajectory, it is rather obvious that independence is a form of guarantee. A guarantee to continue operating as a business when difficult and restricting events and policies take place and are introduced. We have already seen how advantageous a predominantly online business can be during “challenging” times. This was rather evident during the covid lockdowns.
It is important to note that Amazon was launched by Jeff Bezos not long after the Internet launched. New business models that mature alongside a new technology or idea are the ones that manage to become grounded and rooted in the minds and households of society. This is another reason why Hive is such a phenomenal opportunity. Not only is it a new idea that is flourishing and developing alongside the Crypto landscape, but it is pioneering a “new way”.
Pioneering ventures that not only survive, but grow, and continue forging the way forward usually experience enormous success further down the road. In a world of constant disruption and chaos, the benefits of being removed from it, in terms of reliance and logistics become extremely attractive. This is likely to intensify, as we experience further challenges and difficulties, in regard to legacy-based businesses and operations.
The Primary Incentive
For many, location independence is one of the primary reasons and motivations behind establishing a digitally based business. This is definitely true of me. I guess reasons and motivations vary from person to person. However, this particular aspect of ownership, in regard to a digital business, is often mentioned by those who have chosen to embark on this particular journey.
Being able to operate and run a business from any remote location across the globe is extremely valuable, especially for those raising and nurturing a family. It enables interaction in both business and family, simultaneously. Depending on the requirements and demands of the business, this model can actually enable and empower a more productive life, especially in alternative areas of life, outside of business.
For many, running a legacy-styled business is extremely demanding, and is often responsible for other areas of their life to suffer, or take a backseat. In Part 2 we will take a look at other key beneficial aspects of this model that can assist in terms of profitability, as well other important benefits. See you next time!
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This article was first published on Sapphire Crypto.