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Passion, Work, and Happiness

10.14.2011 by Dallon Christensen //

I love and admire my dad for many things. He instilled in me a great work ethic and respect for people. He spent over 30 years helping build a small seed corn company into a well-respected player in a very competitive market. My dad also taught me that you cannot rest on your laurels or expect the past to repeat itself. Since he started with his current company in 1981, the world of work has tossed and shifted like a rowboat on stormy seas… but that didn’t stop my old man from rolling with the punches and demanding success.

If we’re to succeed in our chosen profession, we must realize that we ultimately work for ourselves. I realize that the vast majority of people in the United States are employees. Recent Labor Department statistics show approximately 15 million employees are self-employed (source), a figure representing 20% of the current workforce. In other words, four out of five employees work for someone else… but we must realize that we always represent ourselves.

I have spent much of my time here on DFA highlighting the benefits of self-employment, including a lot of self-reflection as I work to launch Whiteboard Business Partners. My goals may be different than your goals, but we’re all pursuing our vision of financial freedom. Pursuing a calling and loving our vocation are critical components to finding that freedom.

Hard passionate work promotes happiness

I had the privilege of interviewing best-selling author Kevin Kruse for my upcoming Whiteboard Business Radio podcast series. Mr. Kruse co-authored the book “We” with Rudy Karsan. It’s required reading for anyone looking for more fulfillment at work. The first key point in “We” is how we’re responsible for our own careers, and how we must act like we’re always working for ourselves.

In the past, an unwritten social contract existed between employers and employees. As long as you came to work on time, worked hard, and did not commit any major mistakes, you could count on your company to employ you for life. You would work for 30-35 years and retire with a nice pension. Global competition, technology, and shifting mindsets are now combining to make any job temporary at best. When many publicly-traded companies face declining profits, their first reaction is to lay off employees. These workers may be great employees, but it’s “just business.”

The other side of the unwritten social contracts of the past were that employers could place you where they wanted. If you wanted to move into a different division, the company may not want to do that. If you wanted to try a different job, you were at the mercy of the company. If your skills became outdated, the company really did not care as long as you were in your particular cog.

This type of career progression left many people unfulfilled at work and the recent job market only accelerates these feelings; and now-a-days employees are let go much more readily.  Which has exacerbated the “Why work hard for my employer, they don’t care about me?” attitude.

What can we do then? Adopting and holding to the understanding that we work for and represent ourselves will help us pursue more meaningful work, resulting in better performance. Think about it, would you rather perform poorly at a job you dislike or excel at something you love?

Passion improves life

Mr. Kruse’s most memorable moment as an employer came when an employee’s spouse came to him at a company gathering. The spouse thanked Mr. Kruse for providing such a great place to work, and shared how their lives were better thanks to the changes at work. His marriage was improving, his life outlook was improving, and the entire family was generally happier.

A bond exists between fulfillment at work and overall happiness. Mr. Kruse and Mr. Karsan dismiss the concept of work-life balance, opting for “work-life blend” where your work becomes an integral part of your life, and I agree. In my own life, I can see that I was most happy when doing work I enjoyed. In fact, I met my wife while working my favorite job. Coincidence? Perhaps not!

We have a unique opportunity in today’s economic environment. Sure, the traditional employment contract no longer exists, but that makes for less contraints to finding work that matters.

Know your passion, find what truly fulfills you, and watch your earning potential – and happiness- soar!

Categories // Earn Money Tags // career, happiness, passion

Always Be Hustling

09.30.2011 by Dallon Christensen //

Hustle is one of the great traits anyone can possess. Whether you are competing on the playing field or in business, hustle gives you a competitive edge over your competitor. You work a little harder, look over the details a little more, and seek that extra edge in everything you do.

Hustle is critically important when you are engaged in the “side hustle” of starting your business. I must admit that I am stealing the term “side hustle” from one of my favorite entrepreneurship books, Escape from Cubicle Nation by Pamela Slim. Ms. Slim left a successful corporate career to work as a self-employed consultant before starting her own coaching and writing career. Few books I have read blend the vision of entrepreneurship with the practical steps of executing a self-employment strategy.

Side Hustle

Ms. Slim learned the term “side hustle” from a family member who started a business doing nails while in college. Her family member was interested in earning some additional cash while studying, and Ms. Slim learned that she was doing the nail business as a “side hustle”. I love this term, because it portrays the perfect attitude to have when starting a new venture.
If you have read my past Debt-Free Adventure articles, you know I am passionate about starting your business the right way. I do not advocate quitting your day job right away as you build your business. I still work a full-time job as I develop Whiteboard Business Partners, because I want to remain hungry and committed to building a business of my own. I’m hustling every day when I write an extra blog post, research new ideas, or create a new educational program. I’m hustling when I use my savings or extra cash to build my business instead of seeking a bank loan. I’m hustling when I leave home to meet with a client right after dinner.

Matt’s note: For 2 years I worked a full-time job while building my business on the side. I hustled and sacrificed a lot of sleep in those 2 years, but it was so worth it. Now my “side gig” is my full-time job, and I love it.

Hustling is about doing the extra work and caring enough to do the right things in the right manner. If you approach your own work by hustling every day, people will notice your extra effort. You may receive an additional referral, earn a new speaking opportunity, or be featured on a local radio show. The key is never becoming content. The successful business owners I know are always looking for new ways to build their businesses. They are aware of their surroundings and seeking new revenue streams or opportunities to serve.
When you are working a “side hustle”, you should always seek ways to either turn your side job into full-time income or find better ways to earn part-time income. Your side job need not become a full-time opportunity. You may enjoy your full-time position and simply want a chance to fulfill a passion. You may want to earn additional income for play or for other means. Whatever you do, never stop hustling and finding ways to improve.

Are you hustling?

I consider hustling as one key factor differentiating the good from the great. When you hustle, you demonstrate initiative and motivation to the rest of the world. No matter what you do, always approach your endeavors with hustle.

Are you hustling? Prove it to us in the comments!

****

Categories // Earn Money Tags // entrepreneurship, side hustle

Invest In Your Business

09.28.2011 by Dallon Christensen //

When you are starting a new business, every dollar is important. You are either starting your business on the side as you continue your current job, or you are using savings while you are not earning a “traditional income”. The natural inclination is to spend as little money as possible. However, this approach can actually be worse than spending too much money too early in your business.

The adage is often true – “You must spend money to make money.” You must invest resources, money included, to increase your visibility and productivity. If you are cheap instead of frugal, you can easily become overwhelmed and frustrated as you try to do too much with too few resources. There are several areas where you must invest money to begin a viable business. Investing wisely in these two key areas, without overspending, will give you an advantage as you build your new source of income.

Invest in marketing

No business survives without sales, and sales come from visibility and exposure. Marketing is designed to promote the benefits your business provides to your target market and ideal customers. One great way to maximize your marketing investment is to identify your ideal customer. You cannot be all things to all people, so don’t try. Instead you need to identify the specific customer you want to attract and start marketing to them wisely.

Your first marketing investment should be a good Internet presence.

There are two key parts of building a good website. The first, registering a domain and finding a solid web host, is not very expensive. My domain for $11/year and host it for under $7/month, which is very inexpensive!

Designing a good website can cost more money, but is well worth the investment. I tried to design my own website using WordPress, but it looked very amateur so I ended up hiring someone to design my website and Twitter page as part of an overall branding exercise. I spent about $500 for this service, and it was well worth the investment!

In addition to a great website, you should invest time and/or money to attend networking events and join online communities. I budget $30/month to attend networking functions and other events where I can talk with professionals. I also invest in two online communities that advance my goal of self-employment. One community, Free Agent Academy, is $125/month. The other, Accidental Creative Engage, is $10/month. You should find the communities that will give you the skills and contacts to succeed and invest the time and money to be a valuable resource.

Invest money in your business

I know accounting is not the most exciting part of running a business, but you must have good financial information to run your business. Sound finances are the foundation of your business, so be sure to invest in a sound financial setup. There are three accounting programs I recommend you review to start tracking your spending. All three services are web-based and let you access your information through any computing device with a web browser.

Kashoo – I tested this service about a year ago and liked it. It is designed for service businesses and has a clean, user-friendly interface. Kashoo just introduced an iPad app so you can now enter and review information without using your laptop.

InDinero – This service markets itself to brand-new businesses with a very simple method of tracking your information. InDinero offers a very clean dashboard showing you key information at a glance and also tracks spending patterns to create the starting point for a budget (which is a must).

Xero – This is the software I will use as I transition from an Excel-based system; I also recommend this tool to my coaching clients. Xero offers more invoicing and product features than Kashoo and InDinero, including the ability to price and track inventory. Xero also has a great iPhone/iPad app for your mobile computing needs. If you sell products, I would recommend reviewing Xero.

Invest in your business!

Marketing and finances form the foundation for your business, so be sure to invest in both. Not only will you save time by having more help, you will also present a better brand and be more productive with your limited time.

Categories // Earn Money, Investing Tags // business, entrepreneur

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