Connect with us

Entrepreneurs

5 Ways To Determine If Freelancing Or Entrepreneurship Is The Right Life For You

5 Ways To Determine If Freelancing Or Entrepreneurship Is The Right Life For You

The Idea of leaving traditional employment and seeking the entrepreneurial or freelance lifestyle is a choice that many have decided to make for this year.

Maybe you want to quit your job and start that bakery business you always dreamed of, or maybe you want to follow a life long passion such as writing or doing tasks that you are qualified to do.

Knowing the commitment you will have to make and how it will fit into your life is very important.  Entrepreneurs and freelancers play different roles in society, but make no mistake, they are both key in our economy and to its growth.

How do you decide if you want to be an entrepreneur or freelancer?

Here are 5 ways to determine which job might be the best fit for you:

1. Are you a creator or a contender

Entrepreneurs are the people who have the skills and initiative necessary to create new ideas that will solve a systemic problem in our cultures; this includes but is not limited to, cultivating new jobs out of those ideas, and deciding how those ideas can be recycled and implemented into profitable outcomes.

A freelancer is not employed continuously but is hired by one or more people or companies to do specific assignments. They often contend in an entrepreneur’s vision or cause but are not in charge of the total outcome. They provide a service and do so on an hourly, by project, or set fee agreement. A freelancer has the security of knowledge that once their task is complete there is nothing else to appertain to.

“It’s not about ideas. It’s about making ideas happen.” – Scotty Belsky

2. How do you define yourself

A freelancer is defined by what they do. They can be a good web designer, a good seamstress, or even a good writer. Their primary value is in their skill set and how they perform it. If you want to be a successful freelancer make sure you are the expert in what you do and do it exceptionally well, If you do, opportunity will always be open to you.

An entrepreneur is defined by what they create. They put into use the intangible unseen forces of unborn opportunities and convert those thoughts into conveniences that make life easier for all those who are in a space in which they create.

When one thinks of an entrepreneur they think of people such as Steve Jobs who created Apple, and Sam Walton who created the Walmarts.  Both men possessed dominating thoughts of what things would look like if they took their ideas and cast them into the world.

 

3. What you think about when everyone is asleep

When everyone else is asleep entrepreneurs are the ones that are up all night thinking of new ways to assure that ideas come to fruition. Their time is often spent figuring out how all the pieces will work, as well as determining how the project might get funded, from starting at scarcity without finances, content to marketing, customer care, recouping losses, and calculating how they will gain profits.

While freelancers are also often up all night when others are asleep they are thinking of ways they can improve the way they do their tasks, how to get more clients, or they are working on doing the actual tasks themselves.

 

4. How you make money

The most money a freelancer can make is equal to the number of hours in any given month multiplied by their going rate. The plus side in this is the only person they depend on or have to worry about to assure payment is themselves.

An entrepreneur is someone who can make money during all hours of the day (even when they are sleeping) if they find the right people, and put them in place to make sure ideas work for the benefit of a vision, organization, and others. However, unlike freelancers, an entrepreneur’s success is dependent on everything they put in place to work as planned. If one of the moving parts fail to work it can slow down the payment process and they can even lose money.

 

5. Working in your business or on it

People often mistake owning a business with being an entrepreneur. Owning or starting a business does not necessarily make someone an entrepreneur. Nor does it make them a freelancer. If you start a business based on a skill that you have and it requires you to be involved in that business to produce the product or service then you are a business owner.

You may take the time to develop new ideas and visions for your business but they are not new concepts to the world. You are expanding on skills already known to the world. If you are only willing to perform a certain task in a business and envision only working a certain amount of hours in a day or week, you will be playing the role of a freelancer.

“There are no secrets to success. It is the result of preparation, hard work, and learning from failure.” – Colin Powell

The realization is that times are changing, and quality of life holds a new set of values for people. The world we live in is demanding new ideas and new ways of doing things. With ingenuity and perseverance, new opportunities are being created every day and modern technology has given us accessibility to resources that were once out of reach.

These very resources have given us the ability to fulfill those demands for new ideas and allow us the chance to live a life that is built around our passions and dreams. Whether you start a new business, become a freelancer, or create the next life changing thing… whatever you do– Do Good Things!

When are you going to start your new business or become a freelancer? Please leave your thoughts in the comment section below!

I am a 5 time stage 4 cancer survivor who founded a company called 2 Dream Productions,Inc. There was a time in my life I did not think I would get to live my own dreams so I created a company to help others live theirs. It was through their dreams I began to live my own. I am contributing writer for places such as the Huffington Post, The Good Men Project, and She Owns It. My goal is to inspire others to live their dreams and to leave a legacy for those who dare to believe that anything is possible. You can find me at www.michellecolonjohnson.com and on Facebook at www.facebook.com/2DreamProductions?pnref=lhc.

Advertisement
6 Comments

6 Comments

  1. Billie Myers

    Jan 31, 2017 at 10:09 pm

    Extremely informative article and I would like to ask if you would
    be interested or even have the time to maybe look at my corporation
    of many IDEAS.
    http://auniverseofwonders.com/
    I am in need of funding and mentorship.
    Please let me know what you think
    and your professional advice.

    Sincerely,

    Billie J. Myers

    • Michelle Colon-Johnson

      Feb 13, 2017 at 12:50 pm

      Hi Billie,

      Thanks for reaching out. I am glad you enjoyed my article. I would not be the best person to look at your corporation. Your requests are not in my wheel house of expertise. I would suggest finding someone that works successfully within the space you are looking to create. There you will find mentorship, and even possible avenues for funding.

      Wishing you continued success.

      Have a Magical Monday!

      -Michelle Colon-Johnson

  2. freelance web developer

    Nov 26, 2016 at 3:21 pm

    That is really interesting, You are an overly professional blogger.
    I’ve joined your feed and stay up for searching for extra of your magnificent
    post. Additionally, I’ve shared your website in my social networks

    • Miche

      Jan 7, 2017 at 3:39 pm

      Thank you for the kind words! Have a Magical 2017!

      -Michelle Colon-Johnson

  3. Charlene Rhinehart

    Feb 5, 2016 at 5:30 am

    Thanks for sharing this article, Michelle! This point reminds me of myself, “When everyone else is asleep entrepreneurs are the ones that are up all night thinking of new ways to assure that ideas come to fruition.” I’m so excited about the possibilities that I wish I could stay up longer so that I can work on them. Connecting with others and working to make a dream a reality is what keeps me moving forward as an entrepreneur.

    • Michelle Colon-Johnson

      Feb 8, 2016 at 5:10 pm

      Thanks for the kind feedback. An entrepreneur’s life is for sure not always glamourous. But when your dream becomes the thing that changes the life of many including your own it makes the journey worth it! Thanks for reading my article!

Leave a Reply

Your email address will not be published. Required fields are marked *

Entrepreneurs

5 of the Best Proven Growth Hacking Strategies for Your Business

best growth hack strategies for your business
Image Credit: Unsplash

Tough competition can make growing a new brand seem near impossible, despite the hundreds of new companies that are created every day. Creative solutions offer the answer, allowing you to move in a positive direction with your brand start-up at an affordable investment. To achieve this, speed is the key. Growing your user base fast will allow profits to come in fast, too. This is what growth hacking is all about.  (more…)

Continue Reading

Entrepreneurs

5 Soft Skills Every Entrepreneur Needs to Succeed

soft skills for entrepreneurs
Image Credit: Unsplash

There are countless components that go into building a successful company, but soft skills act as the fundamental building blocks of a functioning business. Hard skills are considered to be job-specific, whereas soft skills are interpersonal skills, like listening and communication. 

Nearly 93% of employers said that soft skills are an “essential” or “very important” factor in hiring decisions. With the right blend of hard and soft skills, an entrepreneur is capable of great things.

Here are five soft skills that can help entrepreneurs scale their growth and lead successful ventures:

1. Confidence

A successful company starts from individual confidence. In order to motivate and inspire others, an entrepreneur must find reassurance in themselves. Other businesses and consumers will believe in your company if you consistently believe in yourself. 

Being confident also means becoming comfortable with being uncomfortable— taking risks will expand your business and place you above competitors. As an entrepreneur, and leader, it’s crucial that you not only possess confidence, but exhibit it throughout every step of your business ventures.

2.Self-Awareness

It is vital that an entrepreneur have a clear insight into their personality, especially their strengths, weaknesses, thoughts,and emotions. 

When an entrepreneur is self-aware, it can lead them to beneficial partnerships and agreements. Without good self-awareness, leaders become easily persuaded and spineless. Self-awareness also includes control. Becoming overly emotional, for example, can lead to detrimental impulsive decision making. 

“Self awareness is the ability to take an honest look at your life without any attachment to it being right or wrong, good or bad.” – Debbie Ford

3. Collaboration

From the day we begin talking, the ability to work well with others is pivotal to any project. As an entrepreneur, it is important to recognize and understand your own responsibilities. To do this, you must identify your business culture and have tools on hand to manage mutually dependent relationships. 

Active listening inspires collaboration within teams and creates learning opportunities. Without open collaboration or sharing and discussing information, the success of your business is  limited.

4. Time Management

Time is the greatest equalizer. No matter who you are or what you do, we all have the exact same amount of time in the day. Successful management of that time separates the great entrepreneurs from the bad ones. 

Entrepreneurs have many responsibilities; they are often jumping between tasks, hopping on calls, and attending events. They also tend to make every decision within the business.

It is crucial for business owners to find an organization system that works for their company and their goals. Creating a long term road map of company ambitions is an excellent way to distinguish high versus low priority initiatives. Entrepreneurs should create prioritization systems that employees can follow each month, ensuring business targets are met.

“Once you have mastered time, you will understand how true it is that most people overestimate what they can accomplish in a year – and underestimate what they can achieve in a decade!” – Tony Robbins

5. Resilience

Throughout your entrepreneurial journey, unexpected hurdles and setbacks are inevitable. The process of starting a business will not be perfect. What matters most is how you progress when the outlook seems bleak. Your ability to stay tough and weather the storm speaks volumes to your leadership— and will lead to a huge payout at the end of the day. 

Maintaining entrepreneurial resilience throughout rocky times will empower your employees while simultaneously building your credibility. Resilience will also inform potential clients and customers that you are willing to fight through thick and thin.

Soft skills are the backbone of every successful entrepreneur. While hard skills like financing and marketing are crucial to conducting business, soft skills provide the essential groundwork. Developing these soft skills will come with time, mindfulness, and an eagerness to grow. Take the initiative to prioritize these skills in yourself. Once you’ve done that, you can then cultivate those same qualities in your business.

Do you think soft skills tend to be more important than hard skills in today’s business world? Share your thoughts with us below!

Continue Reading

Entrepreneurs

The 7 Successful Habits of Entrepreneurs

habits of entrepreneurs

A while ago, I wrote an article on the 51 mistakes that can sabotage your business. However, that was one piece of the puzzle. You have to run your business well to be a successful entrepreneur, but, what’s more important is that you run yourself so well that your business follows suit. In order to do that, you need some good habits that can seriously boost your chances of success.

Here are the 7 must have habits that most successful entrepreneurs have:

1. Mindfully Meditate Everyday for At least 10 Minutes

Tim Ferris, who has interviewed thousands of world-class performers and entrepreneurs, says that the most common practice of all world-class performers is mindfulness meditation. There are different types of meditation, and each serves its own function.

However, mindfulness meditation is meant for controlling your mind so as to be able to focus more intensely on the task at hand. Higher focus equals higher productivity and becoming more effective at whatever you do.

Working in a distracted state leads to substandard work and also takes up more time. If you want to be able to get in the zone like most top-notch entrepreneurs, you need to mindfully meditate.

Now, there are some caveats you need to be aware of before you begin:

  1. Like medicine, mindfulness meditation has a minimum effective dose and that minimum is 10 continuous days for at least 10 minutes each day.
  2. Practice guided meditation before you try meditating on your own.

2. Read a Lot

Warren Buffett was once asked what the secret behind his wealth was. He pointed to a stack of books and said the secret was to read 500 pages like that everyday. Mark Cuban is also a voracious reader and spends almost 3 hours everyday reading in spite of being busy with his businesses. Bill Gates and Mark Zuckerberg also read a book every week.

Now, I am not telling you to read so much everyday but at least make an effort to finish 2 books every month. This is a very common habit among the top-notch entrepreneurs and as Warren says, “knowledge builds up like compound interest.”

Also try not to read on any digital medium except that of Kindle. In spite of it being convenient to read on your phone or tab or laptop, these devices tend to distract us with their notifications and push us to other procrastinating habits.

“So please, oh please, we beg, we pray, go throw your TV set away, and in its place you can install a lovely bookshelf on the wall.” – Roald Dahl

3. Keep the Phone Away, aka take a Digital Detox EVERYDAY

With multi-national companies all vying for our attention, we need to learn to use our phones less everyday. While it can be extremely tempting to open your phone while you are waiting in line or are taking an Uber ride, you should resist and embrace the boredom. This has two effects:

  1. It teaches you to sit through boring and monotonous tasks for longer periods of time and not get pulled away at the tiniest amount of distraction.
  2. It builds up your will-power and your discipline.

I see a lot of entrepreneurs try to do this and even successfully do this but they don’t build it into a habit. They do it once a week or once a month and think it will have a beneficial effect on their lives. Sadly, just like eating your vegetables once a week is a very stupid idea if you want to live a healthy life, taking a digital detox occasionally is useless.

4. Dump Coffee for Tea

Most Americans are heavy coffee consumers and can’t live their lives without coffee. But wait …The main ingredient behind coffee is caffeine which is a natural stimulant. If you take a stimulant regularly, your body adapts to the stimulant and you fail to get the benefits of coffee such as greater energy and focus which other non-regular drinkers get.

On the contrary, tea’s natural stimulant relaxes your body and enables you to put in more hours of work without the “crash” effect that coffee drinkers face. If you are up to the suggestion of making tea a part of your daily habits, I suggest you try out green tea which has 15% more caffeine than a cup of coffee. It also possesses l-theanine, which helps the consumer put in a greater state of focused awareness into his/her work.

But if you are a newbie tea drinker and can’t stand the taste of coffee (I don’t know how that’s possible though☹), try out flavored tea.

5. Sleep Around 8 Hours Daily

I think the most damaging piece of advice out there is sleep less and do more work. If you do that, all that’s going to happen is that you are going to wake up the next day feeling drowsy. The net result is that your productivity will suffer.

Also, the notion of early to bed and early to rise is not true as your biological clock may be differently tuned than that of others and your biological prime time may be late at night. However, don’t be too late to sleep as that hinders the DNA repair and as a side-effect your mental fatigue remains.

If you can’t get to sleep early, try to not use your phone or watch the TV or any sort of screen whatsoever, as the blue light can slow down your natural sleep cycle.

“It is a common experience that a problem difficult at night is resolved in the morning after the committee of sleep has worked on it.” – John Steinbeck

6. Take Cold Showers

You know what troubles most entrepreneurs? They’re good at planning yet it’s the execution part where almost all of them fall flat. It’s because the execution of ideas throws the harsh realities of the business world onto the face of the entrepreneurs, and they are forced to reconsider if they can actually ever succeed.

It is here that the winners get separated from the losers. And guess what separates them? Willpower. I have the best tactic to help you build it and it’s so simple too! Take cold showers early in the morning or late at night, when it is already chilled outside. If you live in a place that is hot, then this tactic may not have the intended effect on you.

However, try taking cold-showers in the winter. You will see that your brain makes all sorts of excuses so as to not go under the chilling water and if you succeed in pushing your brain to do the work, you will have succeeded. You are then, the master of your mind and not the other way around.

7. Plan and Review Daily

If you want to live a truly productive life and get things done instead of having a mounting pile of to-dos, you need to plan ahead. You need to divide your daily schedule into blocks of time and dedicate tasks to each block.

Parkinson’s Law states that the work we need to do stretches into the time we give ourselves to finish it. Therefore, if you need to get work done and don’t give yourself any time-limit or deadline, you will find your work stretching for enormous amounts of time and eating into the time reserved for other tasks.

However, when you first start planning, you will find most of your plans are utterly useless as most tasks will stretch far beyond the time you have allotted for them. This is where the second part comes along – which is to review the plans and reschedule them.

However, there is a particular style of reviewing and this is how you can go about it. First, you need to make a plan of what you intend to complete in a week and what you intend to complete in a day. Then, before going to bed every night, open your calendar and make a note regarding what you failed to complete today and how you will accommodate them into your weekly goals. This should be done before going to bed daily.

Now, it’s your turn. Share this post and spread the word. What’s the most important habit according to you? Do you have any such habits that you use? Let me know in the comments!

Continue Reading

Entrepreneurs

Build Your Business One Brick at a Time

building a business

A good friend and business associate once approached us asking for business advice. “I have $25,000,” he said. “How do I turn that into $50,000? Actually—wait, how do I turn one million into two million in one year?”

We looked at each other, and then we looked back at him and said “You don’t take a million and turn it into two million. It’s not that easy. There are no shortcuts in life, and there are no shortcuts in business.” We recommended he do things the old-fashioned way.

He understood—and we understood—that, of course, some people do double their money in the blink of an eye. It’s not impossible, but it’s incredibly risky. And it’s also not what we are about. We’re not promoting the Bernie Madoff model of Ponzi and phony, get-rich-quick deals; we all know how well that worked out in the end. Businesses have to have a real economic model that is built one brick at a time.

Start, Build, Sell

Growing your business is an incremental process: you start, you build, and you sell. You build more, you sell more. If you have a viable product or service that customers want, they’ll come back to you again and again. They’ll also tell their friends. 

Positive word of mouth is as important as the product itself, because it helps you continue to grow. As Albert Einstein once said (and Warren Buffet often quotes), “compounding interest is the eighth wonder of the world.”

Buffet, known as the smartest investor of the past century, invests in management teams and products he believes in through his company Berkshire Hathaway. He is also said to only invest in products that he likes and uses, and that fall in his circle of competence. Therefore, as a big holder of both their stocks, you can assume he loves Coke and McDonald’s. He also eats and drinks both regularly. Keep his investment interests in mind as you build your business.

“The only strategy that is guaranteed to fail is not taking risks.” – Mark Zuckerberg

The Value of Viability and Balance

What kind of product or service you decide to build is important, too. You have to be insanely fortunate to have success selling an entirely unique product. It doesn’t mean that you shouldn’t try, but always remember it is easier to sell a product that is easily understood. When you’re just starting out, and even if you’re not, it’s much easier to sell something people completely understand rather than an avant-garde product.

Whatever you want to try in business, whether you have a brand-new type of shop or a nail salon in a strip mall down the street from another nail salon in another strip mall, the essence is the same: work harder, work smarter, and constantly improve.

One challenge you may find at this stage of your entrepreneurial journey is the difficult task of finding balance between preparing and over preparing. As you build and sell, focus on the details, but don’t let them overshadow your big picture.

Spilling the Oil

In The Alchemist, Paulo Coelho writes of a boy who wants to learn about happiness. The boy’s father sent him to the wisest man in the world: the sage. The boy traveled for forty days to reach the wise man, finally finding him in a bustling palace. When the boy asked for the secret to happiness, the sage responded by suggesting the boy take a walk through his palace and come back in two hours.

The sage had one additional request: he handed the boy a teaspoon with two drops of oil and instructed him not to let the oil spill as he walked the grounds. He toured the palace, his eyes never leaving the spoon. When he returned, the sage asked the boy if he had enjoyed the Persian tapestries and the intricate gardens, but the boy replied he hadn’t seen them; his eyes were focused on the spoon. Although he had spilled no oil, he had also seen none of the glories of the palace.

The sage refilled the spoon with two drops of oil, instructing the boy to savor the details of the palace. When the boy returned, he realized he’s spilled the oil, but he was able to describe in detail the colors, tastes, smells of the palace that were beyond his wildest imagination. The sage responded, “The secret of happiness lies in looking at all the wonders of the world and never forgetting the two drops of oil in the spoon.”

“When you want something, all the universe conspires in helping you to achieve it.” – Paulo Coelho

The same is true in business; keep an eye on both the details and the big picture—neither of which you can do if you’re cutting corners or letting the fear of making mistakes stop you from moving forward. Fail often and fail quick. Learn from your mistakes. And, if you are smart, learn from other people’s mistakes, too.

What was your favorite tip from this article? Share your thoughts with us below!

Continue Reading

Trending