Monday, 7 January 2013

Business: Self Employed Success

There are three key elements to self employed success... 

They are: Time, Money and Benefit. 

Don't waste time and energy doing jobs that are not worth it. If someone offers you work you need to remember the three elements and always ask these questions.

When you ask each question you need to get a yes or no answer.

Element 1 - Time

Is the length of the contract worth my time? (This works with element 2: money).

A long contract plus high pay is great so its a "yes".

A short contract plus high pay plus is worth doing - it's a "yes".

A short contract plus low pay maybe worth doing if it’s an interesting job - its a "maybe".
A long contact plus low pay is usually not worth the effort - its a "no".

Element 2 - Money
Are you offered enough money to repay you for your efforts? Is the cash worth the time spent?  

 If you are offered a simple job or a job which you enjoy then its a "yes" weather the pay is loads or not much. 

 If it's a job you hate but its easy for you to do and the pay packet is OK, then its a "yes". 

 If its a hard job and a job you hate then the answer is "no" (unless the pay packet is huge!).

Element 3 - Benefits

"Will I benefit (in a non-cash way) or learn something that will benefit me later?" 
 For example the people wanting to employing you may be a charity and you are giving back to the community. This would provided a "yes" answer for element 3.

A company may offer you extra training, pay for you to take a course or provide you with a qualification. This would give a "yes" answer. 

If a job offers no added benefits I would class it as a "no" for this section.

You need two yeses out of three for the job to be with your while…

If you only answered yes to one of the three elements, then it’s probably not worth taking the job (if you can afford not to).

If time = yes + money = yes, then take the job
If money = yes + benefits = yes, then take the job
If benefits = yes + time = yes, then take the job
If you have yeses for all three elements then you are living the dream... go for it!

What else do you need for success the blog Three Elements of Success
has three more elements for you to think about.

Take care,
Dom O'Neill

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