Archive for General
The Return to Contracting
Posted by: | CommentsAs you know from this blog I highly encourage you to do contract work instead of being an employee. There are so many benefits including higher pay, more deductions (via your corporation), variety of projects, more freedom and so on. As you can see from the huge number of layoffs during this recession there really is no job security anymore. If your company has work then you will stay employed. I’ve spent the last little while teaching students guitar and practicing my own things while I look for the next contract. There is no stress because I am making some money on the side teaching and I’ve saved money for the inevitable ‘rainy day’ which always comes.
Companies’ attitude towards contracting goes in cycles. Sometimes they want lots of contractors, then they return to wanting employees. Right now with all the layoffs, companies are actually more interested in hiring contractors because they have work but they don’t want to commit to long-term employees at this point.
So get out there and find those contracts!
Don’t Contact People Just When You Need Them
Posted by: | CommentsThe other day a colleague I had worked with emailed me out of the blue. I hadn’t spoken with him since we worked together a few years ago. Turns out he was working out of town and wanted to return to Calgary. He asked me about a specific opportunity that he had heard about. Come to think of it, two different people contacted me around the same time about this opportunity, even though they hadn’t contacted me since we parted ways.
I helped them out as much as I could, but it reminded me that as employees or contractors, we need to keep in touch with our network on a regular basis, not just when we need something. Perhaps forward a bit of interesting news, a relevant opportunity or just say hello. In other words, make it a two-way relationship. Don’t always be taking and asking from others.
So if there’s anyone you haven’t talked to in a while, drop them a line for no real reason at all!
Take Responsibility for Your Problems
Posted by: | CommentsIt seems that many people are against the US bailout plan. I agree with them. Why should we help companies that made bad decisions? If you agree with that, you must also agree with ‘Why should we help people who made bad decisions?’. Most people spend more than they earn, relying on credit cards, lines of credit, equity loans and so on. Now that things have slowed down, some of them are screwed. Many people are hoping the government will bail them out, provide jobs, and so on. No one owes you a job so get over it – make your own success happen.
If you’ve learned anything from this blog, it’s that I try to empower the individual. This means saving most of the money you earn, living below your means, and avoid shopping as much as possible. This savings empowers you because you don’t need to have a job, you choose to have a job (or not). Over the past few months I’ve been at home without any income. I haven’t been worried even in the slightest.
Now is not the time to panic and worry. If you haven’t been following my guidelines you may be feeling some pain right now. That’s okay, you’ve hopefully learned your lesson. To prepare for the next downturn (and there will be one) you need to do the following:
- make more money (see my previous blog posts and e-book)
- save more money
- spend less money
It’s really that simple. I got tired of getting an employee’s salary, with all sort of deductions. I could barely save any money. So I found a niche, started contracting and most of the money stays in the corporation. I pay low taxes in my company and personally since I pay myself dividends. I suggest you do the same.
Are you an Olympian in Your Career?
Posted by: | CommentsWith the Olympics on TV, I’ve been blown away by the years of dedication they have put into making it to the Olympics. So I’ve been inspired to take things up a notch in my career.
When I’ve been teaching you about consulting, I’ve tried to explain that it is totally doable if you follow some of my techniques. To me it seems so simple to do. I often see people with no confidence in their ability to pull something like I’ve done off and it’s hard to understand why they give up so easily.
I’ve recently decided to try a start a larger company, one that will most likely require venture capital, other partners, and lots of help with IT (web design, programming, support). This is extremely scary to me and is totally out of my comfort zone. But it’s helped me to put myself back in your shoes, when you’re first conceiving of moving to the next level but haven’t quite made it yet.
The things I can suggest to you and that have helped me recently are:
- realize your weaknesses (be honest about them) and find people to help you in those areas
- believe in yourself, that you can do anything you put your mind to (getting help to get there)
- write your plans and goals down
- decide that you will persist to achieve your goals no matter what happens
- face your fears and keep persisting
- enjoy the experience and celebrate any small wins or realizations
Are You Too Comfortable?
Posted by: | CommentsWhen I get calls nowadays requesting help with an integration project, it’s pretty much business as usual. I know what rate I want, how much it will cost for travel, whether I’m qualified to do the project and so on. There’s no fear or insecurity.
During my downtime, I recently started work on a new business idea. To tell you the truth it is really scary for me to think about going from an independent consultant to running a full-fledged business. Some of you who haven’t incorporated or gone on your own probably have similar fears. Can I leave my current job and start consulting? “Do I have enough experience, what if I can’t do the project, or what if the project fails?”, are some questions you may ask.
During this phase of ‘contemplating change’, you need to remind yourself of times when you were afraid of change, but you came out successful. Or maybe it didn’t work out okay, but you learned a lot and were better for it. I have also been telling myself that if I don’t know something or don’t have experience in a certain area I will get help. I will form a great team of people who can support me. At one point, I considered paying another consultant to help me with a certain challenge during a project. While that may seem strange, spending a bit of your money to ensure success is worth it and something you may not have considered doing.
It’s best to ask empowering questions such as ‘How can I be successful with this change?’, or ‘Who can I get to help me be successful?’ instead of ‘What if I fail?’
Are you Living your Childhood Dreams?
Posted by: | CommentsI watched this show about Randy Pausch on Primetime last night. Unfortunately he died of pancreatic cancer on July 25. You can check out his lecture on YouTube.
Every once in a while stories like these can make you take stock of your life and whether you are following your passions.
