Are you self-employed, running your own small business either full-time or on the side, and just not sure how to give yourself a raise?
I know, it sounds silly to many, but in truth the savvy business owner knows where money goes and how fine the margin of profit is after operating expenses, insurance, paying employees, etc, are all factored in.
If you're in this situation, here are tips for giving yourself a raise. Although they might not all work for you, I would venture that at least two of these ideas could be a perfectly feasible way to give you the financial boost you need.
1. Find more tax breaks
2. Increase your client base, or expanding it to a new niche, or more affluent market
3. Increase your rates or prices
4. Identify a new niche or more affluent client base - a new or more affluent niche (having more money to spend) can be a quick way to hit the bottom line quickly.
5. Offer courses, training, or tutorials - online universities and programs are cropping up everywhere. You could develop and teach courses at your local university, or through online providers like Udemy.com or Coursera.com.
6. Provide consulting advice to another organization or online - as a business owner you have skills, strengths, experience and expertise that are valuable. In our global market, fully connected by the internet, your value can help not only local organizations with similar challenges but customers on the internet and abroad.
7. Cut expenses - the flip side of making more money is wasting less of the money you already get. This sounds simple enough, but few business owners really take the art of subtraction and streamlining far enough - leaving lots of room for improvement and savings. A great way to do this is to 1. Map out your business processes and 2. Apply the Lean tool known as Value Stream Mapping. If you haven't heard of lean, it started in Toyota's manufacturing plants, as a method of eliminating every wasteful step in their processes, to essentially reduce scrap and excessive steps to the bare minimum, making them highly efficient and more profitable.
I could share more, but try these for starters and let me know what works for you.
If asked the question - Can you explain your ability to work with a variety of internal and external stakeholders?
A good answer might be -
"I've worked with many stakeholders, from suppliers and shippers, to internal staff, and even external partners. The important thing to realize is that we're on the same team to serve the customers and deliver on our promise to them. That means practicing good communications and mutual respect whenever we're working on a project or common goal, simply smiling, keeping a good attitude and always being of service to them as if they were the customer. "
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Most people don’t get the job offer because they prepare poorly for the interview. They think they’re ready, but when the questions start coming they stumble and struggle.
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Congrats, you got the Interview, that's awesome...you should be proud to know that out of the tens of thousands of people out there they chose to meet you. But how do you prepare for it in a way that edges you even more above the other candidates?
Here are some of the tips I share with my clients that could make all the difference for you, and get you the offer.
1. RESEARCH THE COMPANY
Research the companies website and learn all you can about them, their mission, vision, goals for year, anything in the news about them, info about their competitors...anything to show that you do your homework, and are taking this very seriously.
Connect with someone within the company, or that has worked there in the recent past and learn all you can about their culture, their challenges, and their benefits. If the person is a positive force in the company or influencer, have them put in a good word, if at all possible.
Clearly align what you have to offer with their greatest needs - I usually have my clients do a matching exercise where we list the company needs and their (the client's) skills and experiences and connect what matches, to see their strengths and potential weaknesses as a candidate - then we fill the gaps on the weaknesses with some quick research and learning online. Try this, it's amazing how much it helps.
2. PRACTICE, PRACTICE, PRACTICE
Practice interview questions - practice all the standard questions common to interviews, keeping your answers short and succinct, about 2 minutes long, and always ending on a positive note.
Find a good friend, mentor or coach to practice questions with. This is the most powerful way to fully prepare for the interview, in front of someone that can give you objective feedback on your answers, tone, delivery, and body language.
Practice behavioral and scenario questions - behavioral questions help them determine your state of mind and your fit into their culture.
Scenario questions are made to see how you work with teams and solve problems common to the role. Plan and prepare for questions on working with difficult customers, coworkers, or managers and your ability to act fast to resolve process problems.
Practice your smile, your tone, your body language - This is very important. As mentioned before, having someone to practice with is key, but at the least practice in front of a mirror or record yourself answering common questions and your best answers. Then review for the quality of your eye contact, posture, smiling, etc.
3. LOOK GOOD, SMELL GOOD, FEEL GOOD
Dress for success, just one up of the company norm. Research the company online, through FB and LinkedIn, particularly to find out how they dress and handle themselves. Then one up from there, as far as dressing for the job.
Smell good, but not too good - shower fresh, deoderized, and lightly perfurmed is all you need. Don't overdo it as that will put them off for sure.
Get lots of sleep, eat well, drink water - this is very important. A few days before the interview, start sleeping just a bit earlier, to make sure you're rested when you wake up. Try to eat healthy as well, to make sure you feel well, and drink water every day to stay well hydrated. This will all contribute to you being your sharpest the day of the interview.
4. STAY CALM AND POSITIVE
Keep calm, composed and confident - realize that you have a lot to offer or they wouldn't have offered you the interview. Their goal is to confirm what your resume says with reality.
Also keep in mind, they need you as much as you need them. They have a problem to solve and you are the solution. Be proud and confident that you can assist them in achieving their mission as an organization.
If you've done all the other steps, you should feel very good about your chances, which will help boost your confidence.
A last tip on this that I suggest to clients is to apply for other positions prior to the interview, if you haven't. This will remind you that although you should give your all to the interview, there are other opportunities out there and if you get this, great, but if not you will move on to the next...and maybe even better opportunity.
5. FOLLOW UP
Bring a portfolio to jot down everyone's names and titles, to follow up with Thank You notes. This is critically important, as it shows consideration, follow through, professionalism, and persistence - all qualities any good company wants in their staff.
So, prepare for it then do it. Follow up soon after via email or snail mail thank you notes (even better, since few do this.)
If you do this, you'll set yourself apart and add another positive impression to reinforce you as the candidate they want and need on their team.
I have many more tips, but this is a good start to get your ready for success and deliver like a pro at your next interview.
Good luck, and if you need me, I'm here!
Your coach, always.
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I wrote this post below about a year ago, but it's exactly what still works today.
Read through it and think about the steps you're taking to target that job you want.
What step can you try and apply that you're not taking right now?
SHE GOT THE JOB! But how??
Here's the quick and simple process I follow with my clients. It will work for you, if you follow it.
For starters, I got her to write up a list of companies we could target - but one, she said, she'd love to get but she didn't fit the qualifications. So I told her, let's go for that! Yup, she thought I was crazy, but here's what we did.
This is how finding and getting your dream job is done these days...a process, persistence, and a willingness to fearlessly do what it takes.
Interesting in getting help through your career transition or job search.
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If you don't track your progress in your job search, you're dooming yourself to do twice the work for twice as long - which could be months or even years to find the right job! Because tracking your target companies and jobs on paper allows you to do proper follow-up, and that's the core of a good job search strategy.
THE ELEMENTS OF A GOOD SEARCH STRATEGY are simple.
And remember, WHAT GETS MEASURED GETS IMPROVED, and this is all about learning and improving your strategy as you go forward. With each connection, networking coffee meeting, and interview you're learning what works and what doesn't, and where your strengths lie - so you can refocus and become a better candidate.
With my clients we track every step of the process, look at improvement ideas, and learn from mistakes and successes to build a strategic approach that means faster results and more money!
Need help? That's what I'm here for.
I work with a lot of clients on developing their Interview Skills and overall networking skills. One of the key elements of this is making sure they communicate their level of intelligence in their market or area of interest.
To do that I always recommend they go on a morning diet of listening to Podcasts in their area of expertise, and a nightly ritual of watching a YouTube video on their topic, or reading a book on it.
It's amazing what words, phrases, acronyms, and ideas you can absorb through osmosis by just exposing yourself to these resources.
Think about this...it's been estimated that if you read 1 book a month in your field, that in only 3-5 years you'll become one of THE top experts in it!
For those nonreaders where that sounds like a lot, what if you just listened to the books on Audible or even listened to summaries of the books through YouTube (yup, there are tons there).
The compound effect in the long term is massive, and in the short term, it will still give you a competitive advantage in your networking and interviewing.
I've leveraged the power of learning and reading to share models that will help my clients respond to interview questions like no one else - for example:
Alright...need help with any of this? Want to learn answers to interview questions that will blow their minds? I'm here.
I can't emphasize this enough, if you don't have a process for your job search you will go crazy, get depressed, feel confused, and feel lost most of the time.
But if you do have a process, a series of steps you follow for your overall job search and for each opportunity individually, you'll keep your sanity, stay objective and handle setbacks better, and feel much more in control.
Here is a simple process you can follow that works amazingly well, if you follow it.
Alright, this is a lot to take in, but if you do these 5 steps, without thinking to much or making excuses, but simply doing them as best you can with what you know now, you're going to do very very well and get lots of requests for interviews.
Need help with any step, I'm here!
Coach Baez has helped hundreds of clients level up their careers and lives. In this blog he shares some of his best tips and lessons learned through his years of coaching.