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“Everyone needs a side hustle.”
This sage piece of advice came from my millennial niece as she explained why she was joining a social media-powered, network marketing-based fitness program.
Her statement came amid a ranging conversation about the nature of today’s so-called gig economy, in which everyone is doing something on the side, whether that’s driving for Uber or renting out their spare bedroom via Airbnb.
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The evolution of modern technologies has powered this burgeoning gig economy, but in reality, it’s nothing new.
I remember the day, about 20 years ago, when my uncle called to ask if he could talk to me about a new business opportunity. As we sat sipping coffee, he walked me through Amway’s program and how I could become one of its newest partners.
Started 60 years ago, Amway was one of the pioneers of the direct-marketing industry. Along with a few other notable companies such as Avon and Nutrilite, Amway helped usher in what we might call the first gig economy.
Throughout much of the latter part of the 20th century, these firms enabled people from all walks of life to create a supplemental (and sometimes primary) income using “a business model fueled through the power of relationships.”
But as we entered the 21st century and ushered in the digital era, Amway — like many of its industrial age counterparts — found itself on unsure footing.
The company was no longer competing with just other direct marketing companies. The new gig economy had brought with it an entirely new host of side hustle opportunities. This bevy of new competitors included not only the Ubers and Airbnbs of the world, but also the ability to directly sell via Amazon's marketplace and Etsy, as well as new niche platforms like the one my niece joined.
More importantly, it became clear to company leaders that it was more than just a wave of new competitors that threatened their place in the market, but the nature of the market itself as consumers increasingly engaged with their friends, family — and those with whom...