By Neil Patrick
Last week I was sent the transcript of a soon to be published book about self- employment as a consultant and how to go about it successfully.
The author asked me if I’d be willing to review the book and provide my reaction to it in the form of an endorsement to be included in the final version when it goes to print.
I was surprised and flattered. Well I’m now reading the book and it’s great and after it’s published in a couple of weeks, I’ll be writing more about it here. But because the topic of the book was essentially self-employment for mature professionals, it got me thinking I really should revisit this topic on this blog.
I talk here a lot about jobs, and how to get them in these hyper-difficult economic conditions.
But there’s another option too of course - creating your own job.
Our generation has been taught to be a bit scared by this I think. We all know of someone who lost their entire life savings when their business went bust or failed to even get off the ground. And yes, the statistics for the failure of start-up businesses are still frightening.
But being self-employed doesn't automatically mean you must risk your savings and your financial future. Quite the opposite in fact.
Not if you choose to take the skills you have acquired over all those years of working and decide to sell them in small pieces to people that need them.
In fact if we accept that getting a job as an employee is now harder than ever, especially once you get past about 45, isn’t it more sensible to choose a life path where our age and experience is actually a benefit rather than a burden?
And here’s the truth: people want and need freelancers more than ever today.
The recession has made businesses really cautious about taking on extra employees. It’s obvious the reason this is happening - why take the commitment of having an extra head on the payroll, month in month out, at a time when costs need to be ruthlessly squashed, when you could get the job done by a contractor with absolutely no long-term obligations attached?
And people will pay top dollar for this too.
You see, the real question clients often face isn't can we afford to pay $500 or $1000 or $2000 a day for a contractor? The fact is that many, many businesses have now slashed their permanent full-time staff to the absolute bone. The moment anything happens (which of course it always does) which means they need some extra resource, they are stuck. Big time. They may also have hiring freezes which means they cannot hire any extra people.
So their problem cannot be solved by hiring new people. But it can be solved by finding skilled and reliable people outside the business to handle it for them. And suddenly if you are on their radar, and you have the skills and experience called for, you are in a strong position to negotiate a good rate. So let’s say they hire you for 6 weeks, 2 days a week, at $1,000 a day. Total cost $12,000 dollars. And their problem is gone.
And you are $12,000 better off in exchange for 12 days of your time. (Okay, I know that’s a gross simplification, but you’ll get the point I’m sure)
And your client’s headcount is still the same. You’re happy. They’re happy.
There’s another thing I like about this choice also. It’s kind of a philosophical point but it goes like this. Remember all those years of toil and torture to get things done for the people you worked for in the past? Sure you do. You’d just rather not think about them usually right?
But here’s the thing – all that sweat and tears taught us a lot. And that’s the point. We can view that as an investment in us. And whilst we may not have exactly enjoyed the process, it makes us what we are today. Which is mature, experienced people who have learned a great deal in our lives.
So what I like is the idea that indirectly, all that sweat and toil is now being rewarded back to us over and over again.
Somehow it feels like justice has been done!
Oh and if you still want to invest all your time in just hunting for a job, remember these realities:
But here’s the thing – all that sweat and tears taught us a lot. And that’s the point. We can view that as an investment in us. And whilst we may not have exactly enjoyed the process, it makes us what we are today. Which is mature, experienced people who have learned a great deal in our lives.
So what I like is the idea that indirectly, all that sweat and toil is now being rewarded back to us over and over again.
Somehow it feels like justice has been done!
Oh and if you still want to invest all your time in just hunting for a job, remember these realities:
For every great job out there, there are dozens of really soul-sucking, punishing and unrewarding jobs. Just remind yourself about:
1. The feelings of powerlessness experienced daily by millions of employees
2. The lack of job security that now exists for just about every employee
3. The frustrations of having to do what you are told, rather than what you are really best at
4. The requirement of every employer that you work to a rigid schedule like a machine
5. The crazy office politics that demotivate everyone
6. The lack of fulfillment you feel by doing things just because someone tells you you must
7. The increasingly rarity of pay rises when our costs of living continue to soar
8. The daily torture by bad bosses
9. The lack of appreciation shown for all your efforts
10. The fear of making a mistake which will lead to disciplinary action or possibly even being fired.
Let the young people who are less experienced than us have these jobs I say. They need work experience and they need to learn. We've already paid our dues.
Aren’t you infinitely smarter and more experienced and knowledgeable today than when you were 25 or 30? Of course you are. So why would you choose to even think about competing with those people?
Play to your strengths.
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