Timetrepreneur's Podcast - Create Time For You: Recent Episodes
ALAW, Timetrepreneur, Aion Law
Presented by Aion Law of Timetrepreneur.com A podcast for anyone who wants more time in their life! So much time is wasted on a global scale for people to find their dream lifestyle. Hence we teach the most effective way in our 3 most important areas - TIME, WEALTH and HEALTH! We break complicated concepts down into a daily processes where you can systemically prepare for launching your business, career change, or anything awesome! Join our community!
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What does it mean to be a slash entrepreneur/individual? This means that you have more than one job/career/business. This is relatively new, because before in the older generation most people just do one job, and most likely stay in one company for a very long time. Nowadays, the new generation tend to become a hybrid - dentist / tutor ; coach / copy writer ; admin / violin teacher
How do traditional employers look at SLASH-ER?
To some traditional employers, people with slash careers may seem not able to be fully committed to their jobs and may turn them down/ It's true because most likely Slashers will continue to pursue higher levels and keep on polishing themselves in their fields. But this doesn't mean they can't do their job well! Instead we will do time management well to be able to cater to both our daily professions/jobs and do our side hustle at the same time. This should be how modern employers should look as Slashers!
Any obstacles in being a SLASH entrepreneur? 1) Time
2) Energy
It is very difficult to balance between multiple companies/jobs on a weekly/daily basis. I find out from my own experience that most of us can only do 2 jobs at once, if completely different fields. Sometimes even if Time issue is solved by decreasing travel time or using digital work process, it is still very difficult.
Hence I do a regular review every 3 months to look at how to redistribute time and energy between my companies and jobs.
Why this generation after 2020 is the best time to Embrace a ‘Slash’ Career? also it is very important!
1) enjoy a diversified life - different friends/colleagues/skillset
2) lower chance of burn out - be able to look forward to different environments, lower chance of burning out from repetitive work all the time
3) life-long learning - personal growth - source of happiness
4) future proof yourself - becoming relevant in different fields, can give you more opportunities in different careers especially in such a disruptive area
5) increase chance of success - maybe you will be able to identify a big opportunity in one of the careers you are working in, that may become your first golden egg!
6) multiple income stream - goes with saying =]
Should employers hire people with slash careers?
definite YES
CAN'T SAY IT FOR ALL
but you may find most of clash entrepreneurs to be ->
-
motivated
-
equipped with different skill sets
-
good communication skills
-
(maybe) innovative [super high level!]
but most likely, don't expect them to work with you for a very long time, unless your company will have growth opportunities or very good economic security to allow them to pursue their side hustle with a good side income flow - still the value they can bring to you on a part time basis could be massive!
10 criteria to see how you yourself are holding up
- Emotional status
- Personal satisfaction
- Financial achievement
- Health
- Income
- Spending
- Customer satisfaction
- Profitability
- Family time
- Sleep
Are you creating the impact that you want? Ready to stay on track? Gauge yourself periodically to keep grinding.
- Build sales funnel
- Find out the scalable part of your business
- Have good customer management system
- Find more ways to be better than your competition
- Customer loyalty program
- Nurture your existing customers
- Form existing partnership
- Leverage global platforms
- Keep increase credibility
- Franchise models
- Cross-sell, up-sell
- Diversify
- Merger and acquisition
- Total revenue within a time period
- Gross profit margin
- Consider time cost and salary cost
- Sales growth - personal or team growth
- Sales closing ratio
- Be industry specific
- SNAP Selling
- Consultative and Solution Selling
- Practice in front of a mirror
- Role play with your team members
- Every customer is precious
- Branding
- Know yourself and know your customers
- Social media Ads
- Great website
- SEO, get on the first page
- Email list
- Google my business - fantastic for local businesses
- Increase business awareness - freebies
- Focus on your existing customers for more referrals
- Collaborate within the team
- Work with he best efficiency
- Start to delegate
- Team based incentives
- Diversify team
- Collaborate with other businesses after internally is already very smooth
Make business worthwhile, how to stand out from the competition?
- Deliver extraordinary service
- Address customer pain points
- Do your business in a different way from 90% of the competition
- Focus on narrow niche
- Create a powerful offer or guarantee - eliminate barriers
- Create amazing company culture
- Help the community
- Social Business (further down the road)
- Focus your time on "doing" , create sales
- Find time to sit down and do strategic planning once you find out something doesn't work
- Clarify values
- Consistently monitor the competition
- Create a vision and make it more clear, going towards the next step
- Build relationships and prepare for the future
- Don't bother building a complicated system at the beginning
- Create revenue stream first
- Your main value proposition
- Concise and clarity is the key
- Communicable and easy to visualize
- Make your idea "Boxable"
- Starts to be coherent with your branding
- Price must be included, clear pricing structure
- Google macro search the topic/industry
- Keywords search
- Set up google alerts
- What industry analyst are saying tailored to the geographical Rea you are target
- Looking at behaviours consumers of that particular industry
- Social media research is gaining in significance
- Potential customers?
- Conferences of the particular industry you want to target
- Focus on the goals, work backwards
- Set a timeline and try your best to follow it
- Set SMART Goals - make it clear and reachable
- Specific (simple, sensible, significant).
- Measurable (meaningful, motivating).
- Achievable (agreed, attainable).
- Relevant (reasonable, realistic and resourced, results-based).
- Time bound (time-based, time limited, time/cost limited, timely, time-sensitive).
- Emotional Drive/Trigger to pushes
- Do not underestimate the effort and time require to operate the business
- Make sure the venture is something you look forward to
- Ready to scale it up once it works?
- Find out the knowledge gaps and consider the time and energy to acquire it
- Emotional support
- Be mentally prepared for operating a business
- Market Analysis - target group, customers, size, customer lifetime value
- Competitive Analysis -big and small brands, look at similar products to your ideas
- Management and operations - you, or partners? how to use time effectively
- Marketing and Sales - How to you plan on acquiring customers? How to close transactions?
- Financial summary - Bookkeeping, how to be systematic, how to budget and put aside money for your business?
- Find the courage to begin something!
- Find a problem to solve
- Find out how to solve that problem
- Customer and clients potential satisfaction
- Will you like your own idea?
- Do research! Not just on Google!
- Allow your subconscious help you, trust your mind
- Brainstorm different solutions then narrow it down
- Shape your idea practically
- Write it down, discuss it with people you trust, seek criticism