The 3 careers mentioned in the title have one thing in common, they are all self-employed and solo entrepreneurs. In the recent article by Dr. Villegas of The University of Asia and the Pacific, he stated that 28.8% of the Philippine population are self-employed (part of which are the solo entrepreneurs like ML Marketers, Direct Sellers & Real Estate Brokers). Just imagine the amount of taxes being contributed by these people. That being said, they must recognize that they have a big responsibility to the society. And since they are a big help to they society, they must be able to sustain and grow their business.
In order to maintain the success of these self-employed/solo entrepreneurs, they must understand that their careers must be managed like an entrepreneurial venture. This means that they have to follow the process and the system applied by entrepreneurs in their ventures, big or small.
- The solo entrepreneur must understand the logic of their business. The logic of the business answers the question of how the business profits or how the self-employed makes profits. When you have an understanding of the logic of the business, you will be able to focus on your strategies that deliver the results.
- The solo entrepreneur must understand the importance of an aligned vision. Your personal vision must align to your business vision because it will motivate you to work better, and strive to achieve your goals faster and deliver work better.
- The solo entrepreneur must understand that professionalism is vital to success. When you are self-employed you directly involve yourself with other people. It is you who deal directly with your clients, so it is best to keep and deliver your promises beyond what is expected.
- The solo entrepreneur must understand that his business can be transformed to a much bigger enterprise. The self-employed should be very ambitious enough to have plans for growth. To be able to do that, he or she must be open to alliances with other people. He or she must also use other people’s money to use as leverage for the business. Other people’s money can be loans from banks or friends.
- The solo entrepreneur must understand that its about being productive and not being busy. As they say work smart, not hard. This applies to the entrepreneur as well. The entrepreneur must focus on jobs that brings in the cash to the business, not on doing clerical and administrative job. In fact he can just hire someone to do it for him.
Many solo entrepreneur fail because they do not manage their careers. A business at any size, whether you have 1 or 100,000 employees must be managed the entrepreneurial way. You have to manage because you need to maintain and grow the business. Growth comes in later, but at this point you must be able to put stability in your business.
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Article by: Jeff Cua