The Tomorrow Beckons

This blog has little bit of everything...

Monday, April 17, 2017

No Matter How Good You Are, You Can Always Be Replaced

Have you ever heard these quotes?

Everyone's job is important, but no one is indispensable.

No one is indispensable. Even Me.

If you think you are indispensable, think again, because you might be wrong. Few years ago, IT giants used to layoff workforce based on poor performance and at times due to the pressure of global economic crisis. But now with the rapid advances in technology low level jobs might be under threat from software programs called BOTs. These BOTs are powered by artificial intelligence and have the ability to self-learn. Yes, digitization is the new normal in Indian IT Services Industry.

Your employer runs a business and every business needs to be profitable. You might be doing a great job for your organization but in the rapidly changing context it is better to get yourself a reality check. Here are some tough questions that you should ask yourself:

1. Is your job going to be relevant in the next 5 years or is it candidate for automation or digitization?

2. Will your skill or knowledge continue to contribute towards making your employer's business profitable?

3. Can a professional with n-1 or n-2 level of work experience do the same job that you are doing today?

4. In future, is there a probability that the customer may not pay as much money as they are paying today to get the work done?

5. When was the last time you learned a new skill or a new process or a new technology? Are you getting outdated?

Your honest answer to these questions will tell you the exact situation of your job/ career. Your answer to these questions may be a call for action for you because no matter how good you are, you can always be replaced due to circumstances and changes that you don't control. Here are some of the actions that you should take immediately...

1. Identify and work out a Plan B for your future. This Plan B can be an alternate skill that you will learn or an alternate part-time business that you will run in parallel to your job.

2. Save enough funds for the difficult times. At least have 6 months of salary in your bank account to face any adverse situation in case you lose your job.

3. Predict the future of your industry. Read relevant articles published by top research companies to understand where the industry is headed and what are the potential job/ career opportunities of the future. Forecast your learning and training needs and be prepared to reskill yourself.

To summarize, with changing times one needs to be prepared to do more and at the same time do something which is futuristic and acts as a differentiator. Sitting comfortably with the same job for years and years may mean that you are flirting with danger. It is time to not only think outside the box but also it is high time to act outside the box.

Saturday, March 25, 2017

How 43 Dislikes Earned Me $24.24 Of Passive Income On YouTube?

I posted my first and probably my worst YouTube video on 14th Feb 2016 that is on Valentine's Day last year. It had nothing to do with Valentine's Day.

Here is that video...

As of today, 3/25/2017, this video has over 38,689 views, that is, some 65,468 minutes of watch time, 98 Likes and 23 Dislikes resulting in $13.69 of revenue. If you do the math you would know that it took around 2800 views to earn $1. So if this video gets 2800 per day then it can generate $1 per day, that is, around Rs. 65 per day, equivalent to Rs. 1950/- per month. Wow, that is a good amount considering that it has 23 dislikes and rightly so because I consider it as my worst video till date. 

Now, let us just imagine if I have 10 such videos. The revenue generated would be 10 times, that is $10 per day or $300 per month. In India it would be Rs. 19,500/- per month. This is a great amount of money.

But the fact of the matter is that my video didn't get 38K views at the rate of 2800 views per day. The rate was a lot slower, it was somewhere around 100 views per day. So the math done above is valid but the rate at which the revenue is generated depends a lot on the rate at which the video is being watched. Of course search engine optimization and promotion on social media makes a lot of difference.

One more fact is that not every video that we prepare may get even 100 views per day, some of the videos don't get any views at all and some may just get 10 or 15 or 100 views in their entire lifetime. Such videos don't generate any revenue. 

So what should be done? 

Simple solution is to prepare 10x videos, that is, prepare 10 times more videos than what you think you need to achieve around 3000 views per day. Rough calculation goes like this, 1 video gets 100 views per day then you need 30 videos to get 3000 views per day. But in order to create those 30 successful videos you may need to actually create 10 times more videos, that is, total 300 videos. Wohoooooo, creating 300 videos is a lot of work. Isn't it? Indeed, it is a lot of work but remember it is just one time effort, if you are able to do it once then the same video gets you continuous revenue for your lifetime. This is a great example of passive income generation.

Before I leave, here are some of my successful videos along with some statistics of how they have performed.

Coconut Shell Toy, created at home, best out of waste: 38179 views, 44709 minutes watch time, 103 Likes and 12 Dislikes. $6.95 and counting.

Eggless Condensed Milk Cake Recipe, 5170 views, 11293 minutes of watch time 19 Likes and 4 Dislikes. $2.20 and counting.

I hope by now you have realized that it is NOT just the number of view counts that generates the revenue, what also matters is the watch time or the number of minutes your video has been watched. The geographical region from where it is being watched also matters a lot. So if in my example I had to get roughly 2800 views to earn $1 then it may not be true for others, some people make the same amount in comparatively lesser number of views and few others may even take a lot more than 2800. The data shared above is just my example for your reference purpose, there is no guarantee that it would work for you in the same exact way that it worked for me.

This directly relates to the quality of the content in the video. If your content is good there is no looking back.

Oh but wait, I didn't tell you yet how the revenue is generated? It is pretty simple, you generate the revenue by signing up for the Google Adsense Program. Through this program you allow Google to show advertisements on your YouTube videos and in return Google pays you a certain share of the revenue gathered from the advertisers. Google has an eligibility criteria and specific guidelines for registering publishers on its Adsense program. You may want to visit Google Adsense website to learn more. 

There are many more ways to generate revenue by creating video content. One such example is  Lorecart - LEARN EVERYTHING ONLINE, this platform provides you the ability to upload your own videos and sell them online.

To summarize, it doesn't matter whether you are a chef or a mechanic or a teacher or a home maker or a beautician or a techie or a management professional. Opportunity is equal for all of us. If you are ready to put that little extra effort then you can make the most of Video sharing technology and The Internet sitting at your home.

I hope you find this helpful, if you have any queries, feel free to post a comment and I shall respond with details.

Tuesday, March 21, 2017

Read This If You Are 35 or 40 And Want To Reinvent Yourself

Bob was turning 35 this Sunday, his hair started to grow grey and he was not as fit as he used to be in his prime. He was bored with his regular work routine and worried about the fact that his career was not going anywhere. On a lazy Saturday morning his friend James asked him to join for a workshop on Public Speaking. Bob was in no mood to do any work on a Saturday morning but when James insisted Bob joined him reluctantly.

At the workshop, Bob was astounded to see very energetic and passionate speakers who had worked very hard to prepare and deliver their speeches. These speakers came from all walks to life: Engineering, Education, Technology, Law and Business etc. In his mind Bob started to compare himself with these folks. He started to feel a bit inferior because he was almost equivalent to them professionally but he was nowhere close to them when it came to public speaking. These folks were just outstanding.

For two days, Bob couldn't sleep peacefully, the thought of being inferior was lingering in his mind. He finally decided to do what he always does when he confused, that is, he called me up. We met the very next day, he narrated all the details and shared his state of mind. It didn't take me a lot of time to understand his mental state because we are good friends since childhood. After listening to him I realized that he was going through pre mid-life crisis. He was showing the signs of anxiety and stress. He was comparing himself with others and feeling frustrated. I told him that he was overthinking the entire thing and he needed to reinvent himself.

He exclaimed 'Are you kidding me? I am just 35 years old and doing well in my profession. What do you mean by reinvent?'

I replied ' Take a deep breath, relax! Don't get worked up. I am not asking you to leave your day job. All I am asking you to do is to Act outside the box'. Below is the excerpt of what I told Bob that day:

Confront your weaknesses and fears

Ask yourself what are you scared of? Make a list of all such things that you don't do because of fear of failure or because you think that it is your weakness. For example, it may be public speaking, making new friends, learning new technology etc. List these things down and then give yourself a challenge that you will learn and master these things one by one. Set a timeline for yourself and get started immediately.

Find out your biggest competitor and beat them

No matter what you do, you will always have competitors, find out who is your biggest competitor and challenge yourself to beat them. Set a timeline and create a plan of action. The competition may be at your workplace or in your friend circle or in your business. Give yourself a pat on your back and go for the kill and don't stop until you win.

Ask your spouse or girlfriend/ boyfriend this question

What do you think I am not good at? Or What do you think is impossible for me to achieve? Listen to whatever they say very carefully. Make a note of it, post that note in your bedroom and at your workplace. Promise yourself that from today you will not stop until you have reached your goal and proved yourself right. Take this as a challenge from your near and dear ones and go for the impossible.

The pre mid-life crisis hits you without any warning. When you are around 35 to 40 years of age you are generally content/ satisfied/ relaxed with whatever you have achieved in your professional career. Your work seems to be pulling all the energy out of you and it appears that there is no thrill left in life. During this time it is very easy to get depressed and demotivated like my friend Bob. To turn things around one really needs to give oneself a kick. Reinventing the lost charm is not easy but by taking up some uphill challenges one can recharge and re-energize the passion.

Give yourself that challenge today, confront your weakness and fears, challenge your competitors and dare to ask your spouse...What do you think I am not good at? 

Go for it.