The current increasing rate of unemployment around the world today is a signal that people should know how to become self employed.
Becoming self employed comes with lots of benefits, however it takes more knowledge, training, patience and discipline to become successful as an entrepreneur, business owner or CEO.
It’s obvious that most people today simply prefer to work for a boss to earn a paycheck because they don’t have the courage it takes to shoot for self employment.
However, it’s not just about being self employed, its about the entrepreneurial spirit, it’s about the mindset of a person and which cadre of income he chooses to be.
Just before I outline the 10 focus keys needed in self employment, let’s briefly talk about the four class of income today.
Four different class of income earners:
Not everyone is wired to become self-employed or entrepreneurs, that’s why there will always be employees.
The people who fall in this class of income work for money, they simple trade time, energy and resources for cash.
Employees take the lowest class of income. They are the category that work 8 hours per day and are entitled to paychecks or wages. It could be paid daily or weekly as agreed.
They only carry out the task needed to be done and have little or no decision to take on any business enterprise they work on. They work by orders and instructions.
It’s important to know that these class of income covers the greatest population of earners because most people feel free getting a job.
Kindly know that there is nothing wrong with being a employee, it’s also fun and convenient to work for someone because you learn a lot working for others.
However, this income class is less rewarding and time consuming compared to others. Also, they pay the highest income taxes.
The self employed people are the second category of people who work for themselves. They are the small and medium business owners and our major focus in this guide.
Depending on the kind of business and income level of a business owner, some are still classified as the middle class income people.
Such people can afford a few decent things, they have lesser time to themselves and as such their source of income will be closed without them.
However, they still have more flexibility in working for themselves and also earn higher than a fixed income employee.
Sometimes they have one or two people working for them, however they are also called the one man entrepreneur.
Entrepreneurs are people who see opportunities when others see problems. They are the leaders of the business world today.
Entrepreneurs know how to organize a team, they pay every member of a team and keep their share.
One good entrepreneur I respect in the automobile industry today is Elon Musk.
He saw the chance of producing cars that wouldn’t need to run on fuel and that was how he founded Tesla Cars.
Entrepreneurs convert problems and difficulties to wealth by simply providing solutions to them.
Hence, you see entrepreneurs don’t work for a paycheck, they also don’t work for money, they get their money work for them.
Being an entrepreneur will give you enough time and money to build up your asset column to get richer.
The investors are one of the smartest entrepreneurs in our world today.
This class of income people earn from passive income, they know its better to earn from a million population than to work hard to earn it individually themselves.
Investors get their money working for them while they go on vocations playing golf, spending time with loved ones, watching cinema movies and eating pop-corns.
They look out for investment channels to fix some money and earn from their investment.
Warren Buffett is one of the world most successful investor today because of his diverse investments in big companies.
Investors enjoy huge self employed tax freedom levied on self employed income class people and big business owners.
Investors earn even in their sleep and are one of the richest people in the world.
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10 Focus Keys to Self Employment:
Here are 10 vital keys that must be in place to secure self employment irrespective of the niche you intend to go into.
1. Get a productive skill, it pays the self-employed income class:
This is one of the first and most important focus keys to the doors of self employment and entrepreneurship.
A skill in any profitable business niche can be a massive income generating funnel for you.
There are tons of profitable skills that drives good income, ranging from web designs, digital marketing, graphic designs. e.t.c.
One of the first steps towards becoming self employed is to acquire a skill. It could be an online skill or a physical skill, whatever it may be just learn how to do something that will solve a problem in a person’s life.
2. The self employed class build digital portfolio’s:
The digital niche is highly profitable and rewarding, hence create a digital portfolio.
Are you good in writing, why not set up a blog that could earn you passive income and a full time income if you intend to go full time.
You could also sign up for affiliate marketing programmes and get a commission on every sales you generate.
Also, try out network marketing, all these are digital portfolios you can set up and become your own boss.
3. Become visible online (online visibility):
The benefits of building an online presence is rewarding and worth more than you can think off.
Building an online presence will help you scale your business by giving you brand awareness and recognition.
It could be a good lead and sales generating machine if you build your online visibility around the right audience.
CONNECT, CREATE MEANING, MAKE A DIFFERENCE, MATTER, BE MISSED.SETH GODIN – AMERICAN AUTHOR, BUSINESS EXECUTIVE AND PROFESSIONAL MARKETER.
4. Entrepreneurs and self employed business owners create networks:
There is a popular saying that your network is your net-worth. In networking marketing businesses, everyone works to build a good network.
Building a network is as easy as building a football team, Its just one step to another.
One of the vital requirements to succeed in network marketing business is to build your network and earn from your team.
Smart entrepreneurs know that it’s more better to earn 1% from the income of one million productive working people than to earn 100% from your their own work.
The richest people in our world today are people earning from a network. They have a system that pays them even in their sleep.
One of the fastest way to earn in your sleep is through a network, so I advice you start building one now.
If you don’t find a way to make money in your sleep, you will work until you die.Warren Buffett CEO BERKSHIRE HARTAWAY Considered to be world most successful investor.
5. Build quality Relationships with entrepreneurs and self employed business people:
Just before you aim for self employment, why not build quality relationship with people already getting the kind of results you seek.
It’s easier to get to the top when you know someone who is already at the top and asking how he did it.
You can take it further by getting a mentor who is already where you wish to be.
Successful people keep company with successful people, over to you now, you know what to do.
6. Focus on adding value to yourself and your surroundings:
Money goes to the direction of values, rich people know this mystery and that’s why they get richer.
Be consistent in daily adding value to yourself and your surrounding, carry value addition mentality.
Hence, if you need to earn money then you must be ready to exchange value for cash.
7. Understand what people want and how to serve them:
One major important skill you need to become self employed is to understand what people are hungry for.
what do they really want and how can i serve their interest is one important question you must ask yourself.
Therefore, look around you now and ask yourself the question what do people around me here need and how can i serve them conveniently.
If you think towards this direction then you don’t need a paycheck because business ideas that generates money will flow to you.
8. Identify problems and offer solutions:
If you sell water, you’re solving the problem of thirst. A food vendor is solving the problem of hunger.
A school owner is solving the ignorance problem. Also, If you sell cloths, you are solving the problem of nakedness.
The world is searching for problem solvers, people who can help solve the difficulties in various areas of life. One of the best ways to self employment is to solve a problem.
This blog called business finger is solving the problem of information in the areas of business, entrepreneurship and finance.
9. Model working techniques and strategies built by self employed income class:
No matter what you intend to do right now, somebody somewhere else is also already doing it.
If you need to master digital marketing, do it from a pro who is already making success from it.
It’s okay to learn first from others before implementing your own model but just keep up with what works for you.
Study good strategies and techniques that are already working and build on it.
Hence, model experts in any area of business you intend to join and find a way of getting it work for you.
10. Ignore success stories and focus on the process:
So many successful men today share their success stories as a way of giving hope and light to up coming business people.
I am not saying success stories don’t matter, all i am saying is that as much as possible ignore stories and focus on the strategies, techniques, the process it took them to get there.
For instance, if you need to climb a hill, i think the process of getting up the hill should be more important that merely standing at the top of the hill.
Therefore, focus on the process of getting the success strategies before paying attention to success stories.
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8 Benefits of Self Employment:
There are many benefits of self employment to individual and nations at large, however, lets outline some 8 few benefits.
- It helps to reduce the unemployment rate of a country.
- Self employment gives room to the rising of great entrepreneurs.
- It increases the gross domestic product (GDP) of a nation.
- You are fully in charge, no one bosses you around.
- You choose your working hours.
- It helps you pursue your business goals and vision.
- Becoming self employed gives people some good sense of fulfillment.
- It helps people try out their managerial skills.
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Now you understand self employment, the different class of income and benefits of self employment, you can now see the worth and value of working for yourself.
We might not know the potentials hidden in us till we fully put ourselves to work.
I hope you got value through this article, share your thoughts with me at the comment session.
Also, share this article to loved ones, you might be helping someone.