Welcome to aaron chua make money blog

Hi, welcome to my blog. In this part of my world, I talked about how to achieve financial freedom by learning how to make money online through creating sites and earning from them.

Below are some current and past make money projects that details my learning journey.

My current experiment in making 50 amazon site niches. If you have not been following this challenge, best place to start is this resource page for the amazon challenge, that lists all the articles that I have written so far.

My experiment in making 1000 a month through adsense in 9 months.

If you came here looking for low cost startup ideas, here are 140 startup ideas that you can browse through.

Friday, 30 January 2009

Personal network enablers

As I understand more and more about the power of network models applied to businesses (see this article by John Hagel and John Seely Brown for business examples), I begin to see parallels for bringing the benefits of such models to a personal level. This is exciting as it implies a scalable model for microbusinesses.

The current crop of social networks have amplify our ability to connect and maintain more social relationships. Within this limited scope, we have already seen the scale and success they have achieved. Imagine taking that to the next level for personal productivity and innovation.

There are many specialised social networks like Coroflot (designers), Flickr (photographers), DeviantArt (digital artists) et al that has excellent network of freelancers. Unfortunately, most of them are structured like Facebook, rather than Li Fung. With some modifications, these network can become powerful markets where jobs are transacted. In the process, a new class of personal networks enablers (PEN) are needed.

The PEN should enable individuals to form temporary working teams from a network of partners to work on ad hoc projects that require different skill sets. From this perspective, the current social networks are woefully ill-equipped to enable this new form of networks to take place. What is missing?

Helping individuals to identify and build relationships: Enables individual to find working partners that have complementary skills and background, and build the necessary trust. This can take the form of the current 'friend' recommendation system, but focusing on creating complementary capabilities.

Creating loose networks: PEN should allow individuals to specify the protocols and guidelines that they are looking for in a network. Li Fung has the 30-30 rule. Similar options should be provided to the individuals to allow them to create a working network that they desired. It should be noted individuals are able to create and join different networks.

Enabling learning and capbability building within the network: This require data on job performance to be collected and shared among the working partners on a job. Such feedback loops allow individuals to understand their strengths and weakness, and also provide a good way for them to upgrade the necessary skills.

A reputation system that drills down to points for specific skills might also be necessary to encourages specialisation within the network.

I think PEN is one way that microbusinesses can scale. It is exciting to me as I think that people should do what they loved in a manner that can reap satisfactory financial benefits.