Right Now Is the Best Time To Become Your Own Boss

There has never been a better time to live the self-employed life. Jacob Morgan, co-founder and principal of Chess Media Group and author of The Future of Work (2014), researches how market trends, demographics, political imperatives and advances in technology will likely impact the global workforce over the coming years and his findings indicate that self-employment has significant momentum."The picture for freelancers is very good. It's going to be a huge area going forward."
Morgan points out what most traditionally and independently employed workers have learned over the past two decades: the steady paycheck is going the way of the dinosaurs. Those who are now age 50 years or above started a career and expected to work steadily and at increasing pay for 25 or 30 years and then collect a pension as a reward for their contributions. Employment at one company was considered an accomplishment and job-hopping was seen as disloyalty, if not instability.

Morgan's research shows that now, the average worker is employed at a place of business for about five years and Millennial Generation workers last an average of three years. "Nowadays, when a company is struggling, the first thing it tends to do is cut jobs."

Because freelance Solopreneur service providers typically have a list of active clients, we are somewhat insulated from the whims of business owners. We win some projects and lose others, but we will not be laid off and abruptly lose all income. Our revenue-generating billable hours are sometimes less than ideal; however, finding project work is much easier than finding traditional employment that pays a living wage, especially when the job seeker is age 50 years or older.
Self-employment allows more opportunities to create money-making options for yourself. The flip side of the uncertainty inherent in self-employment is that becoming your own boss could earn you a great deal of money. Traditional employment comes with income caps and many employees have been disappointed to learn that generous merit increases, bonuses and sales commissions are harder than ever to come by. Government statistics for the past 20 years have shown that middle class wages have become stagnant.

As companies shed permanent workers, the demand for project-specific professional help continues to rise and for freelancing Solopreneurs, that is a good thing. Much depends upon one's skill set and the local economy, but the next three years and most likely more than that, look promising. Deciding which of your competencies are the most marketable and discovering how to connect with available projects forms the heart of the freelance Solopreneur business model.

In 2010, Intuit predicted that by 2020, the independently employed workforce in the U.S. would rise to 60 million. There are now numerous associations, such as the Freelancer's Union https://www.freelancersunion.org, that offer professional resources and other support to Solopreneurs, including affordable medical and dental insurance. Co-working spaces are available to those who need modestly priced per diem meeting space or shared office space for those who would like to interact with a cohort of like-minded Solopreneur professionals.

Morgan recommends that those who have full-time employment consider taking on freelance work as an experiment. "Now is an excellent time to do it, but I would do it in a smart way... do a little moonlighting and see how it goes. If it goes well, devote more effort to it. If not, you'll have learned it's not for you."

Thanks for reading,

Kim

Kim L. Clark is an external strategy and marketing consultant who brings agile talent to the for-profit and not-for-profit organization leaders with whom she works. Please visit http:..polishedprofessionalsboston.com to learn how your organization can benefit when you work with Kim.

Article Source: https://EzineArticles.com/expert/Kim_L._Clark/647250

How Are Startups Changing the World: Big Impacts and New Ideas

Ditching the millennial business theories and trendifying the business set ups, the modern world start-ups have brought a fresh edge and positive vibe in the business world. In the fast paced economies facing plethora of changes and cut- throat competition, start-ups have paved their way to survive, strive and succeed in the dynamic and ever growing business world.

Tracing them back, if we look at the origin of startups, we find that the term "start-up" meaning "upstart" dates back to 1550. Now, in the sense of "budding company", it was first used by Forbes magazine in the year 1976. There is as such no particular example of the first startup of the world. If you look back, any company, when it was in its initial phase, can be called as a startup.
Amazon, Apple, Facebook, Addidas, Starbucks, etc. are all the companies which are major players in the market today but then, they too, at some point of time, were just beginners or to be more precise, startups.

Is your idea diverse, relevant & productive?

The major companies have an option to cherry pick a few employees from a diverse set, whereas a startup has diverse options to pick up and work upon.
The work doesn't demand some exceptionally brilliant skills or very high acumen, all it requires is an idea. An idea, that is diverse, relevant and productive. Diverse in terms of the thought, relevant in terms of its applicability and productive in terms of its outcome. What follows next is an ideation process and implementation of the ideas.

Impressed by the productivity and fresh outlook of these companies, the government of India has decided to nurture the upcoming talent. To revolutionaries the process, a new initiative called startup India has been started by the government which focuses entirely on these startups. The website talks about the eligibility about classifying businesses as startups, eligibility for Startup Loans and other services being provided by the government (further details can be found on http://startupindia.gov.in/).

Leading the course

As Albert Camus writes, "Real generosity towards the future, consists in giving all to what is in present."

Startups use this very principle to make sure they succeed well in their objectives and come up with positive results. The job of leadership today is not only to make money but also to make meaning, and startups these days are more inclined towards making their objective, their idea a success initially and later consider the monetary aspect.

One of the major reasons behind the success of these budding companies is the fact that they very smartly combine the "wisdom" of "great philosophers" from around the globe and apply that aptly in their businesses, setting benchmarks, and thus raising the standards for others.
Another thing is, most of the startups today are successful because they used the right opportunity, to put it better, market opportunity, and played their best shot which led them to their success. Management of finance and right estimation of risks are the 2 basics that need to be kept in mind before venturing into the business.

The real example

Let's take the example of Reliance Industries Limited, a major player in the market with its business spread over different industries creating value and money simultaneously. The flagship company, Reliance Industries Limited, is a Fortune Global 500 company and is the largest private sector company in India. Dhirubhai Ambani founded Reliance as a textile company and led its evolution as a global leader in the materials and energy value chain businesses.

Let's conclude

"Be the change that you want to see", as Mahatma Gandhi said, applies to these star-ups. To conclude, these startups are the modern world eyes, that behold the beneficial virtues of the future.

Article Source: https://EzineArticles.com/expert/Simran_Ahuja/2379333

Three Major Sources Of Funding Startups

Are you a new entrepreneur? Do you need ideas as to how to get funds for your new business? Here are a few basic ideas which almost all entrepreneurs use to grow their business.

Bootstrapping

The best way to build a company is without the help of any financer. And it is possible also. Bootstrapping basically means building of a company with the blend some of personal savings and borrowed cash from family and friends. Some of the clever founders get back a huge amount of their money by starting their company in countries where the living cost is comparatively low like Chile or Vietnam. Also, with the help of government grants they are able to grow easily until the returns start rolling in. A few crowdfunding platforms encourage cash donations from the public in exchange to early access to company's products. This has made it easier for the founders to get capital without giving up a valuable equity.

Equity Funding

If bootstrapping is not a likely option for the founders, then they can craft a stake in the company for investment purpose. Whereas risking wealthy firms are best for startups that require lot of cash and aim to grow quickly. Not to forget there are quite a lot of other equity options for organizers with diverse business ideas. New founders must try and get their company into an accelerator. They have a two-three month program which is basically designed to aid new startups to work through the initial phases of the development. This program also helps you to find possible investors at the end of the program. Accelerators have also launched a few success stories, whose organizers have received some funding and valuable guidance from some of the skilled entrepreneurs in return for a 7% to 10% stake in their businesses.

Debt Funding

It is not advisable for a young startup to go to debt funding in its early stage. It must be something of a last option. But in some cases, a small amount of cash is required at the earliest. In these cases it makes sense for the company to take out steady, old loan and spare the trouble of finding an investor. In such cases, it is advisable to check if the business is eligible for any government-aided loans. Such loans usually have promising rate of interests and malleable repayment plans.

Thus, irrespective of the route an entrepreneur chooses to go down for financial aid, it is important that he/she takes time to wisely consider the goals of the startup and how the funding strategy adopted will help them achieve it.

You can get an inheritance funding company to help you out. Read more!

Article Source: https://EzineArticles.com/expert/Rajesh_B_Sanghvi/1284637