Top 5 Reasons Why You Should Participate in The Sharing Economy

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1. Access Without Ownership – The sharing economy is great for people who need to use something short term but don’t need to own it. Two great examples are boats and pickup trucks. Everybody has needed or wanted access to a boat or a pickup truck every now and then, but most people don’t need to own them. Companies like Boatbound and GoShare give people easy access to those items when they need it.

2. Maximize Value of Property – The average vehicle sits idle 92% of the time while costing owners an average of $6,500 per year. The sharing economy allows car, van, SUV and pickup truck owners to maximize the value of their vehicle by turning it into an incoming earning asset when it otherwise wouldn’t have been used.

3. Reducing Over-consumption – Studies have proven that over-consumption is not only bad for our planet but its bad for our society as well. Our land fills in America are growing by the minute, filled with underused goods. At the same time, our excessively materialistic culture is  only increasing anxiety and depression levels while driving many people into insurmountable debt. Collaborative consumption through sharing will help solve this problem.

4. Bringing Back Trust – Sometimes I get the feeling that people don’t really trust people anymore. Every time you turn on the news its another story of a school shooting, a financial institution ripping off customers, or the treat of a terrorist attack. With all of this bad news its understandable that people are losing faith in humanity. The first time I used Airbnb, I was a host to guests from Germany and Russia and also a guest in a strangers home in London. I admit that I was a little nervous at first, but it turned out to be a great experience. Looking back, it felt good to trust other people and to be trusted. Many sharing economy businesses use a two way rating system to help build a trustworthy community.

5. Convenience and Ease of Use – Technology has allowed the sharing economy to thrive over the past few years. Mobile devices like the iPhone and Android phone allow people to stay connected 24/7 and have allowed business to build apps that are so easy to use, you can’t help but get hooked. Just a few taps on your mobile phone and you can have a driver with a pickup truck show up at your door to give you a hand with moving, hauling, or delivering an item. 10 years ago this would be unimaginable!