05 Apr 2019

How to become a Self-Employed

Gabriella Bassi

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Yesterday, I happened to meet a cool couple from Calgary, Canada. Cool not for living just off the North Pole, but for their unusual success story. For many years now, this family manages own business with great success, and barely any English speaking skills in a country where their Lebanese serves no purpose. A random encounter, indeed.

A recall of how differently things in tradеused to happen in the not so distant past. Your father owns a business - you become a businessman, you have the talent to master a craft - you become a self-employed. Versus today, when more and more people rebel against set office hours and aspire to be their own boss; who needs a family business or a talent, anyway?!

They get an idea and hurry to obtain a business education. For that Business has become the most popular college degree of the century, but is this a qualification that is going to make you competitive enough in a job market getting tougher by the day? Would you even care to compete if your mind is set on leading?

melpomen_m

If most Business degrees’ description reads “ […] this program will prepare you for a variety of positions in many sectors.”, comes with no surprise what the study case shows; the majority of Business graduates end up in employment instead of accomplishing the dream that kept them up at night many years now. They find themselves more qualified to take charge of another party’s business development rather than invest themselves in what they have zero “know-how” about, or a non-existent practical experience in. In short, Business students are more likely to be employed on lower-paid jobs if all they count on is a bare Business diploma.

Being set on to business means you are aware, curious, willing to take risks and willing to work on weekends. You are also, most probably, someone who knows the importance of being a multi-tasker and a quick student in order for you to grasp, as much as possible, in a short space of time and grow fast. Therefore, I wouldn’t go further by excluding any of the options, I have assembled and laid before you, but by coupling them in three playful patterns. You could achieve them by engaging yourself in multiple disciplines or by partnering up with someone trustworthy. It’s up to your determination. The more diversified you are, the more successful your organization is destined to become. There isn’t a ready-made alternative, anyway. Quite opposite, just like in art, every business has a signature style, a trademark in its core, built only with an individually-crafted and well-tested formula that will only serve your unique idea and business vision.

Major of Interest and Business Degree

Most Business administration programs will give you knowledge on how to organize people, allocate resources, make decisions and direct activities towards common goals and objectives. Undeniably, a Business degree also provides security. It is pretty universal. In case you decide to relocate to a different country in the future, you have something to fall back on.

Selecting your academic program is an incentive in your business plans and it has to be relative. By taking courses in areas that appeal to you and really motivates you, you are learning a specific trade in the economic sector you intend to operate. For instance, picking Politics as a major with the intention of becoming a freelance journalist, or similarly, picking Architecture - to set up your own firm post your graduation and so on and so forth. With this pattern, on one hand, you gain knowledge and skill-set of your craft, and on the other – how to operate an organization. It’s a pretty good space to land for take-off. What about a real-life experience, though? If you have only a brief idea of your field of interest and have not accumulated related work experience, could you be even able to choose your major, at first place? Success in work is more than success in education. Besides confidence, creativity and intellectual property development, working during college is also related to acquiring such business-apt skills like initiative and self-organization. Think about it.

Denis Ismagilov_m

Major of Interest and Work Experience

Choosing major in your field over a Business degree means you are left with no particular idea on how to structure an organization, how to build a team, how to advertise your product or service to the customer, how to sell it, neither how to budget all of the mentioned earlier. This could slow you down. In this pattern, only a business mind could come to your rescue. If you are not naturally gifted, though, perhaps this pattern isn’t apt for you, unless you get organized and find a work placement right away. Having already gained significant professional experience in a business and management role can give you a clue on how things operate within an organisation.  

If acquiring a job experience is on your cards, then getting to know the tricks of the craft, you are passionate about, through a university degree would actually make a better sense and maximizes the efficiency of this pattern. If not, your final option would be to stretch your initial investment capital to allow you to bring on board a business developer, who can assist the process very early on, perhaps even before any returns have been achieved yet.

Business Degree and Work Experience

Here we come to the most common pattern used among people who go on setting up their own venture later on in life. Having attained management science involving analytical decision-making in complex business environments through work experience is a great start. Now you are at the “what’s next” stage. Business education or Major of Interest is the most common dilemma facing youngsters out of college. For those with more commitments, the decision is even harder to make.

A business degree will specialize you in spanning subjects including finance, accounting, business administration, economics, marketing and management. But, hey! You cannot possibly run a one-man show. If you are targeting growth and are taking yourself seriously enough, you should remember that each one of these will eventually run as a different department headed by an experienced professional within you organization one day when your funding and resources strengthen. In other words, a Business degree would brief you about the overall process, leaving you with no thorough expertise in a single discipline. What you are lacking here is the craft that will drive you forward, and make you stand out as a role-model among your employees. If you, though, have already an insight in your intended industry through a work placement, internship or experience, business degree could be more in favour to your business plans than a Major of Interest.

In conclusion, I am hopeful that you are now well aware that none of the above can stand alone. In the ideal case, you will have some knowledge on each element through whatever mediums fit your time and pocket. Succeeding in business takes consistency, determination and unsatisfying hunger for development. Already sounds like a load of work? Well, wait until you are in the thick of running that business, you thought, you know all about!

THANANIT SUNTIVIRIYANON_m

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Categories: IBA Blog , Friday Buzziness

Tags: #fridaybuzziness #self-employed #business #work experience #majorr of interest

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