How to create your own small business in your spare time

A regular job in the industry you love is a great place to start a career, but it can take years of making the tea, making connections, and accumulating experience before you find that your daily work is truly satisfying your needs. If you find yourself regularly putting in forty hours per week and still getting home with energy and inspiration to burn, it can be both lucrative and educational to redirect that force towards building your own small business – even if you have no ambitions to conquer the world on your own. Indeed, running a small, personal business in your spare time can be a great way to put your true ambitions in perspective and to have a bit of fun on the side while your serious career develops.

And unlike most start-ups, your ‘hobby business’ really doesn’t require any financial investment to get off the ground. If you have a computer and a decent wi-fi connection, today it is relatively easy to find a product or service you can provide on-hand. This could involve using Skype to tutor students in the subject in which you’re qualified, or writing articles or even eBooks about the same.

There are tons of websites out there that are able to put you in contact with customers for a bit of freelance work that’s related to your industry: fiverr, peopleperhour, and upwork are three of the best-known, although you need to take care to get paid a decent rate for what you do. On the eBook front, if you don’t mind hacking away at the format of your document a few times it’s possible to get it out to a range of online merchants via SmashwordsKindle Direct Publishing is another option, and they also let you market your book as paperback to be issued by print-on-demand. Do note that you’ll need to put just as much effort into marketing your masterpiece as writing it, if you want it to reach further than family and friends!

You could take perhaps the more sensible option, and concentrate on making your hobby into a source of income – to give your mind a bit of rest from the pervading issues of your regular working week. If cooking is your thing (and you’re good at it) you can find freelance work preparing meals for special occasions as a chef-for-hire, via a website such as hireachef. This is a great way to meet new people, get a peek into how other people live, and get some totally new insights on life to put your main career in perspective. There might be the odd glass of wine in it, too.

Or perhaps you like to take photographs, to paint, or to make furniture. Instead of clogging up your hard drive or your garage with the things you make, you are sure to find a respectable customer base for your handmade crafts using Shutterstock, Etsy or eBay. Put your digital marketing knowledge into action, and you should at least find yourself earning enough on Saturday afternoons to fund your Saturday nights.

For some people, the idea of working on the weekends is a nightmare, but for those who are only relaxed when they have a serious project at hand, and only take a project seriously when the results are quantifiable, the appeal of the side-hustle will be strong. The key thing is to choose the right angle to work – and for a few more ideas on how to put a domestic twist on your business expertise you can check out this new infographic from Quick Quid.

G. John Cole is a digital nomad and freelance writer. Specialising in leadership, digital media and personal growth, his passions include world cinema and biscuits. A native Englishman, he is always on the move, but can most commonly be spotted in Norway, the UK and the Balkans.

Image: Pexels

Mythbusters: The Management Consultant Edition

So you’re interested in being a management consultant? Great! But what is it that they actually do? If you’re still not sure of the answer then read on, as I bust the myths and reveal the realities of what it truly means to be a “management consultant”.

1. Consulting only pertains to the business sector- MYTH

Consultants can be utilised among a broad range of industries and sectors. After all, no business runs smoothly 100% of the time! You can find consultants working with a broad range of sectors from manufacturing and financial services to charities and government. However, the work that consultants do for each sector is not the same; for instance, consultants may work with banks to implement new technologies whilst adhering to financial regulations but work with the manufacturing sector to streamline its supply chain.

2. Consultants can specialise in a certain type of consulting- REAL

Being a “consultant” may sound like a vague term but it is possible to specialise in a certain type of consulting, either with experience or by working for a smaller, niche firm. At a senior consultant or manager level in a large firm, you can specialise in a certain industry and become an expert in that area. Alternatively, there are specialist firms that provide specific types of services like strategy, human resources, IT, finance and outsourcing. If you’re looking for something different still, there are niche firms that focus on a particular sector, and with enough experience and knowledge you can become a freelancer and offer your services to whomever you wish. With all this choice, you’ll easily be able to find an area of consulting that you’re truly interested in and enjoy!

3. It involves a lot of teamwork – REAL

Identifying and offering solutions to large companies would be a mammoth task if you had to do it all by yourself, so thankfully there will always be a team of people to support you. Teamwork is an essential skill for consultants as they typically find themselves working within a team on projects. That is not to say that the work you do won’t be your own, but the whole team will be working closely with the client to identify problems and analyse the issue thoroughly to ensure the recommendations given are accurate and effective.

4. The work is not varied – MYTH

A consultant’s work is never done, as they jump from project to project, and with each business comes a different set of needs and thus a different set of tasks. As a result, consultants can find themselves doing a variety of work on a day-to-day basis, and it is often the wide range of experiences that most attracts people to the profession. Tasks can range from meeting with clients and carrying out research, to preparing presentations and creating computer models. A lot of the work is centred on collecting and analysing data, so you can expect to be conducting interviews, running focus groups and facilitating workshops to get the information you need. But don’t expect to be bored – many consultants cite the varied work as the reason why their job remains interesting and challenging.

5. Consulting is a degree specific industry – MYTH

This is pretty self-evident since there isn’t really a “consulting” degree, but many people assume you must have a business/economics background to be a consultant. Sure, it may help if you already have some basic business knowledge and some firms do favour candidates with numerical/analytical degrees, but that’s not to say you are barred from the profession if you don’t have this knowledge. Many consultants learn on the job through graduate training schemes and firms welcome a wide range of backgrounds and skills to suit their wide range of specialisms. However, as with any corporate job, commercial experience is helpful and commercial awareness (everyone’s favourite graduate recruitment buzzword) is essential. So although you don’t need to have studied business to be a consultant, you will need to show some understanding of how the business world works.

6. It can be a stressful job – REAL

Sadly, this is a reality that you will have to get used to as a consultant. Depending on the project, the hours can be long (a working week of 50 or more hours is common) and the deadlines tight (a project can run anywhere from one day to several months). There can also be a huge amount of pressure and responsibility put on you to hit deadlines so that the project is completed on time. Therefore, being able to deal with stress is a vital skill if you want to succeed in the profession. However, many consultants actively thrive under the pressure, so don’t be completely put off just because you may have to pull some long nights every now and again.

7. There are opportunities to work abroad – REAL

Consultants go to where the clients are, which means you may have to travel abroad. This will be more likely in bigger firms where the work is more international, as bigger clients may have offices overseas. However, even if the work you do isn’t international, consultants tend to travel a lot in general (since they are often based in clients’ offices), so expect to be moving between client sites all around the country if the client site isn’t local.

8. Career progression is structured – REAL

In most consulting firms, there is a structured ladder for career progression. As a graduate, you’ll start off as an analyst, which mainly involves research, data collection and analysis, before moving on to a full consultancy role after gaining some experience. You can progress to a senior consultant or manager level within about three years (depending on how good you are), at which point you will lead the teams and design and develop solutions and projects. From here, you can become a partner or a director of the firm, where you will be responsible for generating new business, developing client relationships and overseeing the growth of the firm. The progression doesn’t have to stop here: many move on to set up their own consulting firms or go freelance. The great thing about consulting is that there is no set time limit on when you can progress to the next level – you can move up when you’re ready. So if you work hard and are good at your job, you’ll reach the top in no time!

Vivien Zhu is a student studying History at the University of Oxford and is considering a career in Management Consultancy. She currently resides in Hertfordshire, England and is a regular contributor to student publications such as Spoon University and the Cherwell.

Image: Pexels

2010s or 1920s – In the World of Work, the Only Constant is Change

How are you dealing with the 21st century? Those who’ve been in the work market for a couple of decades or more have witnessed a hastening evolution of how things are done and what you need to do just to get by – let alone to excel.

Even millennials can find themselves somewhat adrift when new skills become outdated and employers experiment with workplace environments that are wildly different to what you were prepared for in school.

However, we’re lucky enough to live in an age of apparently infinite resources for self-improvement, career development and entrepreneurship. The online world is full of advice, training courses (many for free), and forums filled with like-minded individuals and more experienced professionals who are eager to share their knowledge.

Look back ninety years or more and the picture is quite different. The forerunner of that same communication network, the phone system, was made to function not by codes and algorithms but by real live “Hello Girls” whose job was to connect caller to call-taker by plugging and unplugging jacks and cables at the telephone exchange. Imagine if the same process happened every time you typed a different URL into your browser!

Even getting up to go to work in the morning was a more difficult process. Today, aside from the few lucky people who can reliably depend on their ‘internal clock’ to wake them in the morning, even the most ambitious among us need our iPhone or old school alarm clock to stir us from slumber. In those days, you might make more money as one of the few professional ‘knocker uppers’ – human alarm clocks – than the factory workers who relied on them. Which would you have been: the knocker upper, banging on windows before the sun rose, or the factory worker with a job for life but no real sense of self-determination?

But professionals in the 1920s had to deal with changing times and technological progress just like the rest of us. For example, in 1927, movies started to be released with synchronised sound, which meant that many of the legendary stars who’d been admired in the silents were now heard speaking for the first time. If an actor’s voice was not as luscious as his or her looks, or they just couldn’t act to the standards now required, they would soon become yesterday’s news – and end up joining the rest of us in the queue to become a salesman, a laborer or a telephone operator. Those knocker-uppers were replaced by radio alarms and smart phones, and robots are still in the process of taking over the factories.

To see where you might have ended up in the 1920s, and what your financial prospects might have been, have a look at this new infographic from OnStride Financial. It might make your feel a little more empowered over your 21st century career!

John Cole is a digital nomad and freelance writer. Specialising in leadership, digital media and personal growth, his passions include world cinema and biscuits. A native Englishman, he is always on the move, but can most commonly be spotted in Norway, the UK and the Balkans.

(Image Source: OnStride Financial)

Newspapers Don’t Get The Internet

Newspapers Don't Get The Internet

(Source: Flickr)

Yesterday we read an article in The Australian Newspaper entitled “The career advice I wish I had at 25“.

It was an insightful article in which The Australian’s Queensland Editor Shane Rodgers provided thirteen pieces of advice that he wishes he had had back when he was 25 years old.

We were going to link to the article in The Australian, but discovered that although the article can be read when accessed via Facebook it can’t be read if accessed via links on other websites (ironically a version of Shane’s article can be read freely on LinkedIn).

LinkedIn doesn’t charge a subscription fee for its content, but The Australian and many other newspapers do.

This is not only slightly ironic, but clearly demonstrates that newspapers (including mastheads like the New York Times) don’t understand the Internet and are currently in the process of fighting a losing battle online.

If businesses that make their bread and butter by creating and distributing news content are determined to charge for that content while more successful online players like LinkedIn, Facebook and Google are giving content away for free, then it begs an obvious question. How long can we expect traditional news content providers to survive?

As we argued last week, the Internet has fundamentally changed the strategic landscape. We are now living in a connection economy in which content is ubiquitous and cheap (typically free) but connection and attention are valuable and scarce.

By charging a subscription fee for content, The New York Times and The Australian may be ensuring their short term financial survival but they are doing so at a significant long term cost.

Putting a price on content limits subscriber numbers and ensures that these content providers will be unable to participate in the new online business model which revolves are connecting with more readers than ever before, and allowing those readers to connect with each other.

Who is responsible for your success?

THIS IS an important question because the answer will affect how you feel about yourself, how likely you are to persist in the face of set backs, and how much enjoyment you gain from the things you do.

If you have read any of Seth Godin‘s work then you are probably familiar with the idea of the “linchpin”; the person who makes things happen, gets things done, and is the reason for successful outcomes.

Who are the linchpins in your world?  Think about your work life, family life, or sporting activities.  Who do you want on your team?  Who is the person that will ensure quality work, home cooked meals, or sporting victory?  Chances are you can think of at least one person in each setting who you would describe as a “linchpin” … and chances are they’re not you.

Many people look externally for the source of positive outcomes, success and enjoyment in their lives.  Martin Seligman, in his best-selling book “Learned Optimism“, outlines that this habit of attributing positive outcomes to other people, external factors or luck is a form of pessimism.  And the more non-personal, temporary and specific your explanations for positive outcomes, the more pronounced the pessimism.

Here are three examples of pessimistic explanations for positive outcomes:

  1. Praise from a client: “The client was happy with the finance report [specific] that the team [non-personal] submitted on this project [temporary]. Dave had some great insights.” [non-personal]
  2. Enjoyed family barbeque: “I enjoyed the family barbeque [specific] this year [temporary]. Grandma was so funny.” [non-personal]
  3. Won a swimming race: “I won the race [specific]. Suzy was off the pace tonight.” [non-personal and temporary]

You need to take personal responsibility for the good things in your life because this is a form of optimism, self-belief, and will give you the positive energy you need to keep moving.  The more personal, permanent, and pervasive your explanations for your success, the better.

Compare the above explanations with the following more optimistic explanations:

  1. Praise from client: “The client loves us [permanent, pervasive]. We are a good group and I work really well with people.” [personal, permanent]
  2. Enjoyed family barbeque: “What a fun day with the family, I always enjoy myself.” [personal, permanent and pervasive]
  3. Won a swimming race: “The other swimmers are very competitive [permanent]. I swam a personal best [personal] and I am grateful to my coach for helping me make the most of my abilities.” [personal, permanent and pervasive]

The interesting thing about each of the above statements is that they explain things which have happened, i.e. they explain the past.  It is curious that many people find it difficult to explain the past in an optimistic way because, after all, your life is a story, you are the main character, and you are free to tell your own story and portray the the main character in any way you choose.  If you do not own your past successes then you are placing other people or circumstances at the the centre of your personal story, and thereby shifting positive energy away from yourself.

Wait a minute, you may be thinking, taking all the credit for my success sounds kind of arrogant and being humble is a good thing, right?  Yes, you are right, humility is a good thing.  However, if you think of “humility” as the quality of avoiding excessive arrogance and considering other people as just as important as yourself then you might agree that failing to take responsibility goes much further than this.  The humble man will give credit where credit is due, but the irresponsible man will almost always downplay or ignore his own role in success and attribute that success to other people, fortunate circumstances or dumb luck.

The irresponsible man may be able to avoid any blame for failure. However, he will find it difficult to be satisfied with his success, persist in the face of personal setbacks, or delight in fulfilling his daily goals … because he has none.

Who is responsible for your success?