the end of jobs

The End of Jobs

Erik Book Review, Thoughts of a Mastermind, Wealth Creation 10 Comments

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Jobs suck because they’re rooted in limited leverage and limited control. Sure, you can have a great job (and a fun one too!) but in the scope of wealth, they limit both leverage and control – two things desperately needed if you want wealth. – MJ DeMarco

the end of jobs, by taylor pearsonYou wake up each day between 6 and 7 am. You have breakfast, wash up and brush your teeth, get dressed, get the kids off to school, and get on your way to work. Your boss yells at you for some trivial reason, and you spend the next 8 hours doing work for someone else. After work, you come home, have dinner, spend time with your kids and spouse, and go off to bed to do it again to do it the next day.

Is this what you want? Could there be something more to life? To work? What if you started your own business? What would your days look like then? Would you be happier?

Entrepreneurship is connecting, creating, and inventing systems – be they businesses, people, ideas, or processes. The End of Jobs, by Taylor Pearson, discusses how now is the best time in the history of the world to become an entrepreneur. Pearson spent three years interviewing hundreds of entrepreneurs from all over the world and working with dozens of them to grow their businesses.Ā The End of Jobs is the culmination of Pearson’s interviews and experiences.Ā The End of Jobs is eye-opening, thought provoking, and gives a rough outline of how you could be a successful entrepreneur.

Improved communication technology has made it easy for individuals and companies to find, hire, and manage not just industrial workers, but knowledge workers as well.

Before you read the summary, let me start off telling you while The End of Jobs makes many good points, it also has some scare tactics to hit the reader emotionally and get you excited about entrepreneurship.

Summary of The End of Jobs

In the late 20th century, many United States companies realized cheap labor existed in developing countries in Asia and started outsourcing many jobs. This trend has continued; many companies have full departments in foreign nations. Advances in communication technology has made this possible. Have you had a Skype call with someone on another continent? It’s crazy!

Advances in communication technology allows companies to communicate across continents and tap into a talent pool of 7 billion people. Why can’t we do this as individuals?

Right now, we live in an era where it has never been easier to start a business. Henry and I started a blog for less than $150! Why is it so easy to start a business in recent times? A few reasons:

  • Production costs have never been lower
  • There are countless ways to distribute your product
    • Everyone has a smartphone, an internet connection, and an email account
  • There are new markets being created each day
    • Globalization has allowed entrepreneurs the opportunity to consult, sell to, and work with businesses and individuals all over the world. This allows entrepreneurs to solve problems and provide value without being local.

As a result of three points above, Pearson concludes it has never been easier to become an entrepreneur.

Think about it, do you want to write a book or start a blog? Easy! It will take some time, but long gone are the days of working with editors to prove your book is worth publishing. Now, people write books and put them on Amazon for the world to see. eBooks cost nothing to make; leveraging the internet and technology can be very profitable.


My Takeaways

The End of Jobs proved me right. I knew starting a blog was a good idea šŸ™‚ In all seriousness, I’ve been wanting to start a business for some time now and The End of Jobs has given me extra motivation to get out on my own. With my new consulting opportunity and rental income I receive each month, I believe the time to quit my day job might be sooner than I thought. It would be awesome not to have to work a 9-5 job and be able to do my own thing each day.

After reading The End of Jobs, it’s official: we are going to write a book. I’m not exactly sure what the topic will be, and I’m currently brainstorming. The book will be a joint effort between Henry and I. There will be more details as we solidify our plans!

In addition to writing a book, we are going to start consulting people on their personal finances. We believe everyone should be financially successful. By providing our knowledge and giving back, we believe this will be a successful endeavor.

“We assume jobs are safe because they’ve always been safe, not because there’s good evidence they will be in the future.”

3 Profound Passages from The End of Jobs

  1. Jobs not only limit the upside of intrinsic value by tying money to time – they also give up control. We have no leverage beyond trading more time, which is our most valuable and only truly limited asset. We lose control to react to market forces outside the scope of the job.
  2. By harnessing freedom and meaning earlier in our career and putting it into our work, we can now live freer, more meaningful lives that help others, and get rich doing it.
  3. It’s cheaper, easier, and safer to start a business. When you grow it using variables you control, you make more money because you have unlimited leverage. You also are building an asset which can be sold. And, you’ve acquired a skill set that protects your downside.

My Recommendation

If you are interested in starting your own business, please read The End of Jobs. If you are tired of working for your company and have a creative spirit, then read The End of Jobs. Will you control your future or will a corporation control it? I’m going to explore starting my own business – even if I fail, it will be a great learning process! In the mean time, I plan to continue to read books, gain new experiences, and write a book! Writing a book will test me in ways I’ve never been tested. I’m very excited about the future; there is so much potential for me! šŸ™‚

the end of jobs, by taylor pearson

Buy this Book!


“There is only one success – to be able to spend your life in your own way.” – Christopher Morley

Would you ever start your own business, a blog, or consulting service? Do you think 9-to-5’ers are at risk? What is stopping you from becoming an entrepreneur? Do you have any book suggestions for me on start-ups?

Erik

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Comments 10

  1. Erik,

    What a motivating post! I love the MJ DeMarco quote. Are you part of the Fastlane Forum?

    I’ve wanted to be an entrepreneur since I left college in 2006. I had some opportunities and started some businesses with some minor success. Iā€™m hoping I found the ticket with Run The Money. I believe in myself and the message. I believe it will resonate (and has to a small degree) with people, especially our fellow personal finance bloggers.

    As you know, the Millionaire Fastlane is a great book as is Rich Dad. Another book I would recommend and helped set the foundation for my entrepreneurial bug is Think and Grow Rich by Napoleon Hill.

    Great stuff. Enjoy your weekend.

    Thanks,
    Dave

    1. I’m not part of the Fastlane Forum, I’ll have to check it out.

      I’ve read Rich Dad Poor Dad a while back. I haven’t read Think and Grow Rich, and have it on my list… thanks for the suggestions.

      You will certainly be successful with Run The Money. Like you said, if you can find a niche and provide value to a certain number of people, then you can make money off it.

      Thanks for the comment, I’d be interested in swapping guest posts with you sometime šŸ™‚ Have a good weekend.

  2. Interesting concept. I think you’re right that everyone should at least consider a side hustle. But perhaps the book goes too far in proclaiming the end of jobs. But yes, blogging and ebook publishing definitely underscore how easy making money can be.

    1. Yes, to your second point, I do think the author does look to put in some scare tactics, but his points make sense.

      I’m excited to pursue it! Thanks Dan for stopping by. I enjoy reading your content over at Pennies and Dollars.

  3. Like you, I see starting a blog as a great pilot in entrepreneurship and a good training ground for an online business. All we’re really losing is our time, but we’re gaining new knowledge. Even if that knowledge ultimately turns out to be that blogging is not the answer. Part of the fun is the experience itself!

    1. I’ve noticed an improvement in my ability to communicate and express my ideas. Writing to an audience forces you to be clear. Also, being able to generate revenue outside of work is a beautiful thing!

      Thanks for the comment Max.

  4. First, I love the quote from the Millionaire Fast Lane book.

    I was actually on the launch team when End of Jobs came out and got an advance copy to read and review. Like you, I agree with a lot of what Taylor wrote, but I would also encourage people to also re-frame the way they look at their 9-5.

    Think about it, we are all in business for ourselves, whether we work for someone else’s business or our own (or a combination of both). When you work exclusively for a company, you just have one BIG “client” that is paying your for your services. It is at will employment, so you can fire them (quit) anytime you want. Of course some company’s have more entrepreneurial environments then others.

    Remember that not everyone is cut out to be an Entrepreneur. What I mean is, that grass is not always greener on the other side. Some people just aren’t built to handle the stress, the ups and downs, that come along with going off on your own. I definitely recommend that people dip their toes with a side-hustle before making any rash decisions.

    And there is a place for the Intrepreneur as well. This is where I consider myself to operate and exist. You can leverage your entrepreneurial skills internally for another company and reap some pretty handsome rewards.

    All I am saying is that you can get rich working for someone else and you don’t have to choose going out on your own to show off your entrepreneurial ability.

    I think the most important things we need to find fulfillment in our works are the following:

    1 – Mastery
    2 – Autonomy
    3 – Contribution

    Cheers!

    p.s. would be nice if you changed your wordpress comment settings to allow people to subscribe to the comments. If you need help on how to do this, please feel free to send me an email. Otherwise I don’t know if you respond and I and I assume many other readers don’t typically go and check back on blogs they leave comments on.

    1. Hey GYFG,

      I need to read the Millionaire Fastlane – sounds like a fantastic book. Have you read “Man’s Search for Meaning” by Victor Frankl? He discusses your final point on what gives humans meaning. He arguing humans can find meaning in Work, Love, and Suffering – it’s a very interesting book.

      I definitely agree with you on your point on 9-to-5’s and work. People should think critically about what they want in life. It’s the same thing with determining

      You’ve been doing great as an “intrepreneur” – I love reading your content on your working experience. I hope to get to your level when I’m your age! šŸ™‚

      Have a good weekend – Erik

      P.S. I already implemented your suggestion (I Googled how to do it šŸ™‚ )

  5. I love that you and Henry are hustling so much. I think you will be on the cover of Forbes in no time showing us all what a little bit of hardwork, skill and luck will produce over time. Keep up the awesome work and I know you all are going to be successful!!!

    1. Post
      Author

      Spoken by a true hustler himself! I see you in the comment section all over the web… šŸ™‚

      I really appreciate the comment and compliment – it means a lot to me. Small steps taken consistently over time will result in success!

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