Personal Development Skills – The Process Of Transitioning From An Employee To A Home Business Owner
A personal development skills article from home business lifestyle coach Mark Ford which looks at the stages of transition from being an employee to an online or traditional business owner.
Hello, Mark Ford here, I have been in business now since 1996 and I have operated several different businesses and models within various niches or industries. It has not always been like that though as my trained profession was in the legal and justice system of the United Kingdom. I am a qualified lawyer and I practiced my profession for 29 years before calling it a day back In 2006.
So as you can see I have made the transition from being an employee to becoming a successful home business owner. This experience makes me qualified to share with you what is needed to make that life changing journey.
What I want to do today is give you a brief overview of my story and then look at what it takes to make the decision to go out on your own and have your own home business, whether that is through the traditional business model or an online business to tap into the digital economy.
It may have always been your aspiration to have your own business and there may have been circumstances up to now that have held you back. It could have been that it has never been the right time, or it may have been due to the lack of finances. Maybe you have not been in the right frame of mind, lacked belief that you could do it and had the fear of failure.
The other scenario is that you may have never thought about being your own boss and there has been a trigger which has lead you to this webpage.
Have you simply had enough of the corporate world and the continuous 9 – 5 rat race that everybody is expected to take part in? Maybe you feel that there is so much more out there for you to discover and having your own business will give you the freedom to explore the endless possibilities that life has.
You may be stuck in a rut and feel like you are just going through the motions and have not got any sense of direction anymore, so you need a change. Or you are missing out on specials times with your family and want to be there more for them.
Whatever the reason I am going to share with you the personal development skills you need so you can take that leap of faith to become a success business owner. Before I do that, let me briefly go through my journey from the law courts to where I am now.
Mark Ford – The Journey!
It all started with an entertainment events management business where I would organise and host many different live events to mark numerous celebrations. I operated this business while I was still doing the day job within the chambers of the United Kingdom courts.
It was a fun business and I had some great times within the UK and abroad and it was my privilege to organise Ozzy Osbourne’s 50th birthday. In case you are not familiar with him he is the lead singer of Black Sabbath. I started this because my personal circumstances changed dramatically and I needed something away from the pressure of law. It is something that I will always look back on fondly, but I decided that after 1000 gigs I would call it a day.
Then in 2006 I made the decision to quit the courts and I went into business with a good friend of mine and we started a property investment and management company which lead us to develop a portfolio of 21 properties and it is something that we still operate today. The trouble with this kind of business is that it is expensive to run with lots of high overheads so in 2011 I started to look on the internet for other business models that I could operate from home and found a business model called affiliate marketing and a platform called the Six Figure Mentors to educate me and gain more personal development skills.
Fast forward a few years to now and I have operated as a home business consultant to hundreds of highly motivated digital entrepreneurs which is my way of giving back to people who are in the position that I found myself just a few years ago.
So as you can see I am a person who is an action taker and makes things work. I am also someone who is very adaptable and these are just two of the personal development skill sets you need to make that transition. I will come onto more shortly but just for a moment let’s look at what the differences are between employees and business owners.
Personal Development Skills – What Is An Employee?
An employee is a person who works either part time or full time usually under a contract of employment. As an employee you will undertake and perform tasks daily and be rewarded with a renumeration which is often referred to as a salary deposited into your bank account. It is a simple transaction of you trading your time for money.
You will have a basic salary and your employer will take out your tax contributions and pay them directly to your country’s tax system and what you receive in your account is your net wages. This is what your employer thinks that you are worth to undertake the role that they give you.
Another type of employee would be an independent contractor where you are again designated tasks to perform but this time you would have to sort out your own tax requirements which lends itself to what is called being self employed.
So as an employee you turn up for work at a set time, do what you are asked to do and then stop at a certain time. Then you do the same the next day and so on. Many of the decisions are made by other people and you just do what you are told. Saying that you should have the mindset of always giving 100% and performing the tasks to the best of your ability as that is what you are getting paid to do but generally employees can go home at the end of the day and not have to worry about work until the next day.
Depending on the employer, employees receive a certain number of days per year which is classed as an holiday entitlement for which you will get paid. In addition you will be entitled to some form of sick pay benefit for the times that you are not physically able to work.
Personal Development Skills – What Is A Self-Employed Person?
A self-employed person is someone who finds their own work and a great example of this would be within the service industry. Individuals like painters/decorators, gardeners, builders, cleaning operatives, plumbers, accountants, book keepers, hairdressers, the list goes on, but I am sure you get the point.
These individuals are responsible for everything it takes to operate their business such as tax, insurance and any other liabilities that they may incur. On many occasions they work for themselves and are therefore referred to as sole proprietors but here is where there is a mind shift from employee status.
A self-employed person must have the motivation to go out and look for work, it doesn’t just come to them until they are well established. So there is a lot of discipline needed to get up and running.
There is decision making involved which then leads onto to accountability for when things don’t go to plan and there can be many of these scenarios.
There are lots of aspects to manage such as if you as a self-employed person want a holiday then you are not going to get paid while you are laying on the beach next to an employee who is! Also if you are sick you must ensure you have insurances in place which will pay you an income, but this involves higher overheads which effect profits. If you have not got insurance then you don’t earn, it is as simple as that.
As a self-employed person, it is your reputation on the line whereas if you are an employee it is your company’s reputation which you should care about but it doesn’t directly affect you.
Also you must be very resilient as things will not always run smoothly. An example of this would be if your work is predominately outside you are going to be reliant on the weather. Sometimes you simply won’t be able to work which results in a loss of earnings so that leads to pressure of paying your bills at the end of the month.
There are discrepancies in people’s opinions as to whether a self-employed person is a business owner or whether they just own a job so let’s look at what a business owner is.
Personal Development Skills – What Is A Business Owner?
The general definition of a business owner is someone who owns a business entity with intentions of profiting from the successful operations of the company. Also a business owner has decision making responsibilities and is the first in line to profit. Now to me that sounds very much like someone who is self-employed, but I think the true distinction is when you start to employ people to work for you. This can be employees on the regular payroll or contractors who I mentioned earlier.
This is the game changer as you are then responsible for other people’s lives and futures. Employees have rights such as holiday pay and sick pay that you have to take into account. You have to give them contracts in most cases so there are legal issues if you find the need to fire them which can be a minefield.
As a business owner you must always have your finger on the pulse regarding what may be changing within your industry and competitors. Also you have the pressure to attract the work to your company because you have people relying on you for their wages. Make sure you are prepared to work long hours, be highly motivated and have a no quit attitude and ensure that you create an environment that people are happy while they are working as this will lead to better performance on their behalf and a more efficient business altogether.
Personal Development Skills – So Where Do you Want To Position Yourself?
If you want to be the one that is lead rather than be a leader then the employee option is the one for you and there is nothing wrong with that. There are many careers that are both highly rewarding both financially and in terms of job satisfaction.
If you are the person who wants to take control of your destiny either on your own or to build something that has a huge impact on other people’s lives, then option 2 or 3 is for you. To help you with this journey of transition I can introduce you to a hugely valuable resource which will teach you all the personal development skill sets that you need to develop a home business and entrepreneurial mindset.
The resource is called the Six Figure Mentors which will teach you the skill sets you need to create your own online business. You will also have the opportunity to enrol in their multiple product line and parent company called the Digital Experts Academy where your transition will continue to enable you to become a professional digital business owner.
This is where I started when I looked at online business and between both resources it has totally transformed my life to now position myself as one of the mentors and top-level coaches.
Make sure you check out the Six Figure Mentors which is a top start home business educational resource that I personally recommend. I wish you every success for your journey.
Mark Ford – Home Business Lifestyle Consultant, loyally stepping up for others SO THAT they are given inner peace. Business Website: Nice Money Publications.com
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