Sorry, can’t talk, gotta update my Instagram.
Are you sick of slaving from 9-5 with little to show for it? So many men and women are looking towards other methods to kickstart their career and most importantly, become their own boss.
Whether you’re thinking about quitting your job and starting your own personal venture, there’s a little bit more you should know before taking this huge leap of faith.
Tip #1: Don’t quit your day job
Anyone will know that starting a new project requires two key things: time and money. And while quitting your full-time job leaves you with an unlimited amount of time, where is the money coming from? Work on weekends, weeknights, and every other second you have to make this dream come true. As for your full-time job – don’t give in your two weeks notice just yet.
Tip #2: Make connections
Attend any type of function and meet people who can make your dream a reality. This is the best way to get your foot in the door, and will leave you with a number of options before you go. Start off slow, and join a few forums which are of interest to your project. Pretty soon you will find yourself attending functions and regular get-togethers which can help you land a deal someday.
Tip #3: Create a voice
Online! Nothing is more important than being seen online, so create a number of different social media profiles and don’t forget to invite your friends. Once you are happy with the tone of voice, it is then much easier to create a niche market where people can access your services.
Tip #4: Take all the help you can get
Whether this is from family, friends, or even some helpful volunteers, nothing is more important than a helping hand. Also, be willing to give back some of your services in return. You might know a friend who is an avid graphic designer or SEO specialist, and can help you with the initial stages of your website.
Tip #5: Collaborate
There’s a quote somewhere which states ‘A mind which is open, never shuts.’ This applies perfectly to being open to the ideas (and sometimes unwelcome criticism from others). Although it might sometimes feel out of line, try to keep an unbiased outlook criticisms, since they can ultimately help your business thrive.
Do you have any beginners tips for starting your own business?
Image via Expecting Change
Just the word ‘networking’ can make some people feel uneasy. Walking up to a complete stranger and making conversation? I’d rather go to the dentist!
But don’t worry, there are plenty of ways you can start incorporating networking into your everyday life. Remember, be courageous and try to make long-term relationships, not just business connections.
Melbourne blogger Marlee Wakeling shares five of her best networking tips picked up over the years of studying and working in marketing and event management.
1. Hand out those business cards
Buy 250 business cards at the start of the year and aim to give them all out by the end of the year. Don’t be afraid to hand them out, and don’t feel like you’re being pushy. It’s only a business card after all!
2. Use business cards wisely
Buy blank business cards to collect the details of people you meet that don’t have a business card. Make the effort to contact them, rather than waiting for them to contact you.
3. Facebook is your friend
Although Facebook may not seem like the most professional platform, there are often groups you can join that will help you keep up-to-date with the latest trends in your industry. As well as jobs on offer that don’t make it onto the usual job hunting platforms, and opportunities to attend networking events.
Search keywords related to your profession and location, chances are there will be a relevant group.
4. Take time everyday to work on networking
Spend 10-15 minutes a day working on your networks. Whether it’s following up on emails, giving someone a call or simply making sure your LinkedIn account is up-to-date, your efforts will surely be rewarded.
5. Use technology to make networking easier
Have you heard of the app CardMunch? It’s a serious timesaver! Basically, when you receive a business card, you take a photo of it through the CardMunch app. It then uploads the contact details to your address book AND finds the person on LinkedIn! The app is only available on iPhones, and there are similar ones for Android, such as CamCard. However, I haven’t found them to be as good.
If you want to read up on some more great networking advice, I’d recommend the book How To Master Networking by Robyn Henderson.
Share your networking tips in the comments below so we can all learn from each other!
Marlee Wakeling blogs about writing, fashion and music at String of Events.
Officially, a network can be defined as ‘an arrangement or pattern of intersecting lines’. In reality, a network is the people you know. Your network is all of the people you have met or dealt with, either in a professional or personal context. It is one of the most important assets that you can have, as it is something that is entirely yours, writes Careers Editor Coco May.
When I was thinking about my own network, I realised that it started to develop in my early childhood, when my father’s clients used to visit our house. These people have in turn become mentors, clients and invaluable sources of market information over the years, as have their offspring or colleagues. My first job at a global firm expanded my network exponentially, and then travels overseas gave it an international flavour. I am, and always will be, keen to add to my network, as I believe that it is a constant way to learn.
Networking is a very broad term, and means different things to different people. I asked a number of high profile individuals how they valued their network.
Sally Cheadle, a Sydney HR consultant described her network as a safety net. “It gives me a sense of freedom. I know there are people out in the market that are aware of my capabilities and are prepared to offer me a role that they know will challenge me, based on past performance.” Sally also says: “I have been lucky in that since my first role, I have always been approached with interesting employment opportunities by people that knew of me.”
When Finance manager Jennifer Sloane was looking to make a career move, she sat and made a list of all the people that she knew to have interesting roles, and then called them all and either had coffee/lunch/drinks with them, each time asking for assistance with career planning. “Having a wide network of contacts gives me an incredible sense of freedom. And with freedom, comes the best opportunity and then the best salaries.” Jennifer now has a new role in a high profile, listed-Australian company, which one of her contacts just happened to know about, and was able to refer her to.
From a career perspective, your network of contacts is exceptionally important. It is estimated that only 10% of employment opportunities are ever advertised – so how do you learn of the other 90%? Through people that you know! Think about it. Most companies have a policy whereby all opportunities must be advertised internally, prior to being advertised externally. Therefore, get the jump on the general public, and apply as soon as you learn of the opportunity, and trust me, if the perfect candidate for the role approaches the company, they will not bother to stage an extensive external search.
In addition, if you know people who are passionate about their own organisation, you may learn about interesting roles that you may never have know existed, and would never have thought yourself appropriate for. With them making the introduction, and a bit of lateral thinking, you may find yourself on a new career path.
I was recently talking to PR consultant Tracy Andrews (a lawyer in a previous life) who changed career direction as the result of a chance meeting. At a dinner party one of her fellow diners commented on the lack of understanding of the law in both environmental and corporate PR. Frustrated with her current role as a senior lawyer in a large law firm, this comment started Tracy thinking. Three years later, she now runs a very successful PR business – specialising in (you guessed it!) environmental and corporate PR. Tracy adds: “If it wasn’t for that dinner party, and my colleague’s husband, I would never have had the courage to start my own business.”
When I lived in London, I remember commenting to my then-boyfriend that I was extraordinarily lucky with the friends I had made in London. He looked at me and stated with absolute certainty: “It has nothing to do with luck: you just made the best of the opportunities that were handed to you.” In reality, I utilised both my social and professional network to put me in touch with like-minded individuals in the same city. (I might add that the boyfriend is long gone – but the other friends remain to this day.)
So, how do you get a network? Chances are, you already have one. People that you met at school/college/university or through the jobs that you may have held to date. Friends, friends-of-friends even, random encounters and dinner parties all add to the mix. On a formal note, alumni organisations, networking groups for women (Women in Business, the Businesswoman’s Network, etc), industry seminars and conferences, workshops, even internet chat rooms – will help you increase your network. Go to it – it is the most valuable asset you have!
Freelancing sounds like a breeze. You’re your own boss, you decide your hours and you don’t get involved in office politics? Well, sort of. Undoubtedly, more and more of us are building careers that are based on freelance or contract employment, but it isn’t all plain sailing, explains freelance writer Liz Caxton.
Not all of us are cut out to struggle up the corporate ladder. Some of us are incapable and some are perfectly capable but simply don’t want to. Years ago, my grandfather told me that nobody actually liked their job: they had to work to pay the bills. Yes, a scary fact of life, but one that I’ve never really wholly subscribed to. Working in a well-paid, but dreadful job to live is a desperate way to spend your life, as far as I’m concerned! I would much rather earn less, but feel as if I had some control over my own life. Still, that’s just me. Hence, there’s no Rolex on my wrist and Merc in my garage.
Successful Freelancer = Successful Networker
While freelancing is by no means perfect, it can offer a career unparalleled in the non-freelancing workforce. Within reason you can decide the hours you work, you are very nearly your own boss and can easily body-swerve any office politics. There is, however, one very important factor in successful freelancing: you must be able to sell yourself and what you do and you must be able to network your pants off.
Freelancing can be on a short or long term basis. Some industries, most commonly the IT industry, tend to refer to this type of arrangement as ‘contracting’. Skilled technicians are employed for a set period to obtain a specific goal. From an employer’s point of view it works well: no sick pay, no holiday pay and no skills training to fork out for.
In an ideal world we could all sashay in and out of assignments on a freelance basis, but unfortunately this isn’t an ideal world. Whilst the areas of freelance possibility are increasing, some professions are more suited to freelance work than others.
Designers, (graphic, textile, product, etc)
Editorial types (writers, journalists, editors, proof-readers, etc)
Nurses and most health care workers
IT specialists (particularly those with skills in networking, e-commerce, programmers, help-desk)
Hospitality/Tourism workers (tour guides, waiting staff, customer service, bar staff, etc)
Teachers, both school and TAFE teachers
Musicians and singers (session and teaching)
Artists (cartoonists, illustrators, graphic, etc)
Fitness/gym instructors and sports coaches
Counting the Dollars
For the past three years Claire Webster has worked as a freelance graphic designer. “As a freelancer you can usually demand a higher hourly rate than your full-time counterpart, but with your higher rate goes the assumption that you will require minimal ‘settling in’ time. You must be able to slot in and get on with the job within the minimum of disruption to the team around you,” warns Webster. “To remain employable you must keep your skills up-to-date and relevant.”
If you have ‘incorporated’ your own company through which you are paid, then your employer/client will settle your fees as a gross amount. You will then be responsible for making all the legally-required deductions. However, as many freelancers don’t run their own incorporated businesses, employers will deduct tax from a freelancer’s gross and make the legal superannuation contributions on their behalf.
The main benefit of running your own incorporated company versus freelancing as ‘yourself’ basically comes down to the level of tax you pay. Corporation tax being currently below the highest rate of personal tax. However, with shift towards freelance and contract work, the Treasury has recently released guidelines that state that if more than 80% of your total income is derived from one organisation you may have to pay tax at the highest personal rate. Speak to your accountant to determine which business model suits your situation best.
Legally Speaking …
Most freelancers work outside the award system and so are not covered by current employment legislation. “To ensure that you get what you originally discussed, insist upon a signed contract with your client,” advises freelance copywriter Jill Carpenter. “To save on precious funds, I got a basic ‘template’ contract drawn up with a lawyer when I started freelancing, which I adapt for each assignment I undertake.”
This document should clearly define what is expected of you and of your client, and should include your payment terms. Getting paid can be one of the toughest aspects of freelancing! Some freelancers have even been known to employ debt collectors on their behalf to collect what’s owed, but don’t let that put you off – it’s only money after all!
Manage Your Money
Financial management is an important part of freelancing. As soon as you quit your full-time job you also quit your regular pay cheque. In the initial period of freelancing, you must be able to survive financially assuming you have very little work on – or that you haven’t been paid yet for work you have done. Carpenter has been freelancing now for a little over three years: “Initially I wasn’t prepared for the enormous swings in my bank balance,” recalls Carpenter. “But after eight months or so, it began to level out – thankfully!”
In addition to giving up a regular pay cheque you have also given up your sick pay entitlement. Now, nobody ever thinks they’re going to get sick, but there are times when it happens. Prepare in advance for the eventuality by regularly putting some money away to cover your lost income.
Income protection is another aspect of financial management you should seriously consider when freelancing, talk to a financial adviser about how best to protect yourself financially.
It’s not all news bad on the finance front though; freelancing often enables you to claim expenses you can’t as a full-time employee. You may be able to claim part of your rent, your phone and power bills and travel if your office is at home. Unfortunately, the Tax Office will require detailed logs of your expenses before they will allow a claim.
“Meet with an accountant before you start freelancing to find out exactly what records you should keep,” Webster advises. “In my first year of freelancing I left it until ‘tax time’ and was told I couldn’t claim for certain things because I hadn’t kept sufficient records. I put it down to experience, but now I make sure it can never happen again!”
So, freelancing is not exactly a breeze, but it can offer a very satisfying career. Sure, you have little job security, your workload is unpredictable and you have to be vigilant with your record keeping. But on the bright side you get to ‘walk in and walk out’ without the inherent stress that goes with many full-time positions. You have a greater control over how you spend your days – which to us corporate ‘opted-outers’ is the biggest bonus! You don’t have to get weighted down with office politics. And finally, if you’re really good at what you do and make sure everyone knows it, you could earn significantly more than your full-time counterparts.