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Tuesday, 19 September 2017

ENTREPRENEURSHIP: HOW TO GET A BETTER PAY PACK FOR YOUR IDEA FINANCING


Every other day, we hear comments like “I am a salary earner and I want to start-up a business to support my pocket or I want to finance my business idea and my pay pack is not enough to take cater for my “present needs” let alone saving to finance my idea.

Listen, your pay pack can increase to any amount you want if only you’ll increase your ability. There is a way out, but you need to understand some basic truth.
There is a paradigm shift in the work place which only a few have recognized and capitalized on. Their ability to recognize it and take action has created unlimited opportunities for them or their various disciplines.
  
The shift has to do with rewards in the work place. People are being paid for accomplishments not activities. Accomplishments are outcomes (results) while activities are inputs. Your worth is determined by the quality & quantity of result you achieve in your area of responsibility.
  
Having good quality & quantity in your area of responsibility requires the use of mind power. You need to engage your mind & think out of the box; think differently. When your colleagues in the office are thinking of collecting their salaries regularly, for instance, you think about how your organization can make money regularly.

In the real sense, take away the box, so you can think beyond the normal way people think & get results. If you can achieve this, you’ll be rewarded immensely. Assume the organization belongs to you & you want it to be making regular profit-upward & forward.
  
The way you think & get results today should be totally different from the way it might have been in the past. “Doing the same thing & expecting to get a different result is a definition of insanity”. – Zig Zag.

We are in an information age & knowledge is the primary resource and the most valuable factor. One way of getting good result is by getting a better knowledge on a subject matter and applying it religiously.

Cultivate the habit of reading for at least one hour in a day on a subject-matter; preferably in your field. Research has it that if you read for one hour daily on a subject-matter, 3 years you’ll become an expert in that subject.

According to Dr. Ben Carson, “Knowledge is power to overcome the past, change out situations, fight new obstacle, and make better decisions. Knowledge makes people special & valuable. It is the key that unlocks all doors.”

Have you ever probed (privately) into your boss’ life? You need to know how he got to where he is right now. People get to high ranking positions through different means – connections, office politics, black power, hard work, good character, smart work, God and so on.  Try and emulate the good ways because they are the only ways that can keep you there for as long as you desire & with rest of mind.

You want to work in a multinational firm such as oil companies and the like? Have you ever sat to ask yourself” what skills do people that work in such places possess? What caliber of people do these companies want? If you can pause to think & get answers to these questions, then go further to develop yourself in that light , the sky will your starting point.

A writer once said “kings have problems too & it is only diligent men & women that have the solutions they seek for.” Make yourself outstanding in your workplace because outstanding people are always sought after.

Make yourself indispensable. How do you achieve that? Be a master on your job. You become a master on your job by being studious. No matter how tight your schedule is, make it a mandate to study daily. Studying is food to your mind.
  
Imagine how a living thing will survive without food. If you read the biographies of genuinely successful people, you‘ll find out they have some things in common, studying is one of them. There is no short-cut to success other than studying.

The seat your boss is occupying is a “hot seat”. One of your duties is to help him/her make the seat cool by doing your job excellently & assisting him do part of his job diligently. When you do this, you’ll easily move up the ladder, hence you remuneration.
  
Being able to do a part of your boss’ job, means you have to be a voracious reader. A voracious reader must always be with the keys to unlock all doors. These key will make you write your ticket in that door and paypack will be the envy of all.

The way you behave while working for somebody is the same way you’ll unconsciously behave when you start your own business. Worst still, you’ll attract people of like minds as your employees; you attract who you are, not what you want.

You want promotion or salary raise? Fine! You’ll get it, but answer these questions sincerely: When last did you study a book related to your job or field? Have you prepared yourself for the next level? Please, do not ask for power, when you don’t have the substance to carry it.
  
Do you have what it takes to be on a higher seat? Go for short courses, online or offline, in your field. Go to career advisers to seek counsel. They are both online & offline wisdom is possibility you need a lot of knowledge to make it rich. Rather than knowing more, some people work harder.

You must understand that you don’t have forever on any platform. Every platform is for a season. For every knowledge you have, if you don’t go for practical application, it‘ll make no meaning.
  
Nkechi used to complain of her pay pack. For the last 3 years she has been looking for a way of getting a better job. She has a degree in economics and was advised to go for a master’s degree. Look at her job schedule, there was no time to do that.

She was later advised by a friend to opt for a certificate course which she did in 2 weekends. She enrolled for a certificate course in project management and she later enrolled for I.T course for 16 weekends.
  
Today, she has a better job ($2,500 equivalent) and she has enrolled for her master’s degree because she now has more time to do other things. After her short courses, she got this new job in less than 2 months.

Her pay right now is more 9 times of her former pay. This is what continuous learning & short courses can do for us. Go for short courses if you cannot afford the time & money for normal courses.
      
Strive for excellence: Excellent is doing something better than the way it has always been done. When you strive for excellence, you become a pacesetter. A writer says “if you will stand out and strive for excellence in whatever you do, you will shine for me, if you strive for excellence you‘ll thrive.
  
Become a problem solver in your work place. Think ahead of others. Proffer solutions to problems before they arrive. Do not be in the school of thought that says “when we get to the bridge, we’ll know how to cross it.” Work out modalities on how to cross the bridge before you get there, so that you’ll not waste time in crossing it when you finally get there.

As you utilize your mind to solve problems on your job, you’ll discover that your faculties will become sharper, your mental force will grow stronger and you’ll become more outstanding in your life’s calling.
  
While developing all these traits & applying them to your employer’s business, you’re indirectly preparing yourself or sharpening your skills for your own business. It’s the habits, ethics, skills & knowledge you develop today that you’ll take to run your own business tomorrow. Don’t wait to start your business before developing yourself, start now!

If you want to have mouthwatering pay pack, be a master in your field. To attain this level, check out for the best in your office or field & set at a plan of action to beat his/her record. Strive to be the best now & always.

As soon as you get a salary raise discipline yourself to save the difference. Save the differ for at least 6months to start up something differences is your new pay minus your old pay each month. A singer sang a song,  “the more money we come across,  the more problems we see.”

Your new financial demands will even rise beyond your salary. Learn to ignore that mirage; you will not die. After all, you have been living without the new pay & can keep living without it, while you discipline your mind.

The difference put together in 6months may not be enough, but start from the least fraction of the business. No matter how lofty an idea is, it can be broken down. No matter how big your idea is, you can break it down & start from somewhere. Everything must come in little, little form & before you realize it, what you have in mind will be put together.

Be determined today to finance that great idea while still on paid employment.



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