Create a product on which to build your career security

By Peter Nguyen

More and more Canadians are finding out that creating a product-based career (or business) is more sustainable — and more profitable in the long term — than a service-based career (or business).

For instance, a friend of mine has created a software application that allows corporate employees to share in real-time their knowledge with other employees, thereby improving everyone’s productivity.

(A future article will offer details on this application when they become available).

My point is that rapidly advancing technology is now enabling professionals to shift — if they wish — to a product-based career.

A product is like a “service in waiting,” this service being delivered by the customer to himself/herself.

Take shaving, for instance.

As a man, you can either go to a barber shop and be served.

Or you can stay at home and use an electric razor to shave yourself.

Obviously, barbers do not make as much money as companies manufacturing electric razors.

Here’s another example from my own personal experience that you will find more relevant, if you are a professional, consultant or freelancer.

Since 2006, I’ve worked at Talentelle (www.talentelle.com) as a workshop leader and on occasions as a business consultant and coach.

However, since 2010, I’ve re-invented myself to become a product creator. This means I use Camtasia, Audacity, a Web cam and Windows Movie Maker in order to create training products which I can sell over the Web.

Of course, this doesn’t mean I will stop offering consulting services or workshops. But having products to sell (and even to license to resellers and distributors) adds an extra layer of financial security.

The challenge for most people is that they don’t know how to create products.

After all, we are conditioned through the educational system to become employees (that is, providers of a service), not product creators.

In a future article, I will explain the product creation process. It is much simpler than most people believe, and yet can lead to building a strong foundation for your career and financial security.

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