Have you noticed the trend in people becoming the wealthiest on earth?
Answer: They’re becoming younger and younger.
Mark Zuckerberg is much younger than Henry Sy, the wealthiest man in the Philippines to date. But Mark is way far richer than Henry.
And Mark also created his wealth a shorter period of time than Henry took in his time.
And this is only a classic example of the big difference in the way wealth is being created now compared to before.
Specifically, with the advent of this thing called technology which was not present before, a whole different world, called digital world, instantly becomes a vast source of wealth.
Mark didn’t have to create malls and condominiums and banks to build his wealth; he simply had to build his digital estate Facebook that would catapult him to the young billionaires list he’s in now.
In the local minute scene, you’ll hear lots of success stories of people making money selling to people only through just social media – Facebook & Instagram. Those were people who were receptive enough to adapt to the changing times; and had favorable results financially enjoying their quick response to the need of generation.
Soon, giant companies started to follow, and began connecting to people through online channels. The need for “Virtual Assistants” (online employees/entrepreneurs who can work anywhere with access to internet) expanded, which has increasingly become a separate industry on its own.
But creating wealth online is not limited in social media only.
Take for example the transport service app Grab and Uber.
These two companies didn’t have to own a huge fleet of cars to tap into the transport service market. They only need a server machine, a mobile app and make a win-win deal for both car owners and riders to make the service work. Grab recently celebrated its five year anniversary, which goes to show that their model is one that is sustainable and profitable.
Just last night, I used my Grab app to book a six-seater car and bring my family to a mall. And since Grab often provide promo code during holidays (June 12 in this case), I only had to pay 35 pesos for the trip. This is still much cheaper compared to riding a taxi, much more convenient and with less hassle with the online payment facility.
All these were not present before, yet it obviously has become a game changer to anyone who see an opportunity in this change of times.
Just imagine an entrepreneur who needs car service anytime for his business. That could be a problem before but now, he no longer would have to think about finding a way to do this as it’s all available in his fingertips.
Investors with capital no longer have to create a brand new taxi franchise to join the transport business; they can just buy private cars as usual and leverage the Uber/Grab business – one that has been done by many of my friends.
And it’s not just individuals who see the opportunities emerging now brought by technology.
Companies started shifting to online selling too
In the corporate level this 2017, SM Group just bought a stake in 2GO logistics company while Ayala Corp acquired a stake in online apparel shopping platform Zalora PH. These moves are seen to make it easier for them in rolling out their e-commerce businesses with the giant network of riders available to do the product delivery bought online.
These online shopping sites, like Lazada, in turn allows traditional retailers to tap into a bigger market nationwide (and even around the world!). Because of less maintenance and marketing costs for companies, these websites can offer huge discounts, making it a good choice of shopping for many. Personally, I’ve bought a smartphone, an adjustable reading lamp and a powebank through this channel. As a person who values my resources like time, I just love the cheaper price and the free delivery straight at my doorstep.
An opportunity for everyone
I knew most of my readers are Overseas Filipino Workers; and I salute each one making that tough decision to leave their families to provide better.
The only problem I see is that the OFW opportunity I believe should only be a temporary solution. Unfortunately, it has become a permanent answer to many.
Don’t allow it to be your story.
Especially with the times we have now and greater opportunities around, it only takes some guts and little capital from a person to try and make a fortune today.
Imagination as the limit is truer today.
And this is a good news not just for OFW’s but for everyone who aspires to be financially free in a shorter time. It’s just much easier to be in business today.
The market is there waiting for your service.
I believe that if the Philippines, its government and its people, would only realize this huge opportunity that are staring at us now, this shift can become a great catalyst for the growth of our nation – one than can be felt outright even at the household level.
Have fun investing,
Author: Omeng Tawid
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