Imagine, there is a good stock. The company is beginning to do really well.
Some smart people figure out and buy the stocks.
Then the company does even better. The stock prices go up a lot.
Now lots of people realise wow, this is a great stock.
Everyone starts to buy, pushing the price up to a very high level.
As it keeps going up more people buy in.
This is a bull run.
Then the people who bought earlier start to sell because they see that the price is too high and they have made a lot of profits.
Now the price starts dropping. Everyone exists because it’s not a hot stock anymore.
Lots of people lose money.
Who made a lot of money in the process?
The people who invested early.
This is called early mover advantage.
People who bought bitcoin early are all now millionaires.
Now Bitcoin is very expensive.
This is how opportunities work.
People who see opportunity early and take action take the cake.
But when people see them succeed, everyone, Tom, Dick and Harry and Sally, everyone wants a piece of the action and rushes in without knowing the consequences.
Opportunities at this point get crowded out.
Five years down the line, we can expect the success story of remote international data protection and privacy work to be so evident that everyone will be rushing to grab these opportunities.
Uncles will tell nephews like they know everything: better do data protection and privacy work, there is a lot of money in it.
By then it will be too late to begin as supply will be high compared to demand.
Right now, there are only a handful of lawyers who have earned 100K+ through legal work on Upwork.
That’s because the game has just begun.
Look at how many lawyers have earned USD 1000, or USD 10,000 – that number is much bigger.
Five years down the line, you will have 100s of lawyers having made USD 100,000 + or even a million, on the platform.
You know how the gold rush happens, right?
There is a point when every fool rushes in to cash in, only to find everything too overcrowded.
Same thing that happens to hot stocks.
Only early investors benefit.
People who jump in later get stuck.
I am pretty sure that in 5-10 years there will be a goldrush to perform international remote data protection and privacy work.
At that time, it will be harder to establish yourself, or even find your place in that frenzy, unless you have already built a track record earlier.
You could be at the front row when the goldrush happens, on the top of the pile.
Secure from all the competition that will come, having an unmatchable track record.
Tens of thousands of Indian lawyers would be doing this work remotely some day.
You don’t want to start at the bottom 5 years later, look back at this day and wonder why you didn’t take timely action.
Source: Barandbench
