Young people across Bassetlaw are getting ready to embark on world of work, grilled industry experts at Ambitions North Notts. Kurtis-Jay Castle, Co-host of the event and chief executive at Youth Enterprise Academy says
“The event was a massive success, it was exciting to see young people engage with real people about their journey through school and how it has helped them towards their deciding career path”
Now, the Youth Enterprise Academy is paying attention the to issues and concerns young people have in order to provide the best possible support. Our research and evaluations deliver insights into the dream, hopes and aspirations of young people, as well as the barriers they face to success.
This for us means we need to continuously carry out research in fact, In current ongoing research projects, we are already seeing trends, one of which was when we asked young people; If they believe academic qualifications is enough to secure the job they want, 82% said yes, 91% of the young people believe they was taught the relevant and necessary employment skills required in the workplace.
As part of the research project, we are involving employers too, when we asked employers if school leavers are unprepared for the world of work, 85% of them said yes.
Kurtis then adds; “Although Ambition North Notts was successful, more needs to be done in order to continue the development of our next-generation and the future workforce of Bassetlaw. We need to create programs that are fun and engaging and it is important that we put pressure on the school across Bassetlaw to be more involved in local incentives.”
This post contains information on how to research types of work, as well as how to identify which skills you have and what kind of work you would be best suited to.
As a small business owner, you have probably experienced things which others haven’t. There is a few times where money will and have been tight. But there is that little voice in your head telling you that the periods where this happens, they only pop up once in a while, but looking throughout the bigger picture, sometimes you will need a little (or bigger) infusion of money to keep pushing through the difficult time you and your business are having.
Being a small business owner things can go wrong very easily such as you could expand to quickly, for example you could hire too many employees, and/or order excess inventory, you could also deplete your financial resources and crash. But the main reason for this is probably because you don’t want to take any chances or that you want to prepare your business for growth which probably will not happen until you are out of the early stages. Plus, you won’t be able to respond in an efficient manner when you finally get the big deal you’ve been waiting for. But don’t worry. We have you back.
**But remember if you borrow money this way, you will have to pay this money back, just like if you borrowed the money from online lenders, if they don’t get the money back you could end up in debt and your business will crash from this.**
Scaling for growth requires patience, diligence and foresight. Not only do you have to get rid of the parts that are weighing you down, but you also have to think about how you can add valuable assets as you push your business forward, think about financing early and often so you can have the resources available which will make sure that you are ready to take chances and accept the new challenges that your business will give you when they arise.
Everyone makes mistakes, it’s part of life, some just make more than others…well, if you are a young person or a little older and have stumbled across this post, we are going to tell you a few of the most common mistakes made by entrepreneurs to help make sure that you don’t make the same mistakes.
1. Money hungry
Most young entrepreneurs run for money and wealth. Being driven by greed is a terrible mistake because it will make you desperate and miserable. Being money hungry can destroy you and you should not let generating a lot of income be the sole reason of running a business. Look on how you can motivate your employees, offer a wow experience to your customers, create new business partners and undertake wise investment decisions among other factors that drive the business. Be content with what your business generates and it will grow over time.
2. Lack of clear goals and vision
Any entrepreneur must have clear goals for their business. As a young entrepreneur, you should not venture into a new business without thinking about its implications. You must be sure of what you want to achieve and how you will achieve it. The success of any business depends on the goals that the investor sets. Have a clear understanding of what you want your business to achieve before you even launch. You should have both short term and long term goals of your business on paper.
Also, have your target market in mind, a comprehensive structure of your organization, and an executive summary of the duties and responsibilities of each member of staff. Make sure that you also inform your workers of these desired goals. They should direct their efforts towards the attainment of the overall organizational goals. Employees must have a clear understanding of what you intend to achieve and direct their efforts to make sure that you succeed.
3. Not ready to admit mistakes
Another common mistake that is evident among most young entrepreneurs is that they are not willing to admit their faults. You can never correct a mistake unless you begin by admitting it. You will start to fail once you believe that your ideologies and strategies are the best and no one can question them. It is unprofessional to run away from your mistakes.
The advantage of owning up mistakes is that you learn how to avoid them in the future. This will assist you in creating a healthy business that will be productive in the long term. A common mistake that most entrepreneurs make is not backing their data. Once you make such a mistake, you can be motivated to visit various companies and site builder among others to learn how you can enhance the security of your data.
4. Lack of patience
According to the CEO of Orbita, "All businesses take time to break even and this calls for a lot of patience. Most young entrepreneurs fail because of lack of patience. You will find them shifting from one business to another because they believe it is taking too long to earn them profits. Impatience is one of the deadliest diseases that attack and kill great businesses."
All young entrepreneurs must understand that businesses don’t grow overnight. It will take some time before your business can generate the income you expect. Some businesses may begin to shine after a few weeks or months while others need more than one year depending on the nature of the industry. You need to give your business sometime to stabilize.
5. Being afraid that someone else will steal your idea
Too many young entrepreneurs let fear guide their decisions when bringing a product or service to market. Never be afraid to test your product/service before you think it’s ready. The naysayers will tell you that it doesn’t work, and, those who love it and give you useful feedback will be far too busy to ever take your idea and put it into action anyway.
Creating a company is hard work, and very few people are just going to take an idea that isn't even proven to make money yet. If you need to find a developer, file a patent and incorporate, sell your product to clients, and do all the other things that a startup needs to do to get going, then your copiers will too. Ideas are everywhere, but there's no such thing as a million-dollar idea, just million-dollar execution. And you need to get your product in the marketplace in order to gain traction and execute.
Firstly, when you say that you have ‘no money’ – be very very sure that you have gauged the situation accurately. Too often, people are reluctant to take any risks and self-validate it by thinking that they don’t have the money to do anything. This can only mean one thing…you probably don’t have confidence in your idea, and if this is the cast, then the chances are little that anyone else will put money where even you can’t.
Starting up is a risk on its own, you will have to embrace it, whether you like it or not.
Lots and lots of early own entrepreneurs have spent weeks, even months eating cheap food and living off friends/family’s sofa’s whilst working on their start up. You must learn to stretch the pound as much as possible...
DON’T LEAVE YOUR DAY JOB!!
Most of the aspiring entrepreneurs, once they have the idea in mind, can’t wait to hand in their notice in their current job position, and to start working on their idea full time, which leads extra day working In the current job a drag.
Don’t leave your job until either you start-up gains enough traction to generate sustainable revenue or it gains enough/ significant attention from people who could fund you. Yes, this could lead a slight delay in you achieving your ambition, but you are choosing a much smarter path (this will lead to a higher chance of success).
INVEST IN HOURS IF NOT MONEY
‘Time is money’, and in your case this is the truth, and nothing but. Any business requires money to become successful. Forget about hobbies, recreation and all other stuff for the time being, as you are having to put all you hard work and effort into your idea which can make having a social life and hobbies harder to maintain and keep up with.
Like I said earlier, the big wide world is a competition, and it is very high! People are working hard, and they’re working smart. Which helps them with this is that they have the resources and money power to speed up the entire process. To beat them you shall have to work more than they can/ want.
You will have to develop a thick skin, this is because the market is and will be brutal. Whatever you do, DO NOT get buried in credit card debt.
There is a smart way and a suicidal way to use credit when starting a business. New computers, office furniture, phones and supplies can quickly add up. Instead of purchasing everything at once and throwing it all on your credit card, use your company’s revenue to finance your expenses. By eliminating the stress and burden of debt, it will greatly increase the chances of creating a successful business.
One of the best ways to get started is to make something with what you already have in, these products can be sold for many times over their actual cost. What you make is up to you, but they are several places on where you can sell your handmade items online:
eBay is one of the biggest online ecommerce marketplaces In the world, and it is streamlined store options, easy checkout through paypal, and customisable listing options make it a great choice for selling items.
Etsy is one of the largest online markets for almost anything homemade, from jewellery to wooden toys for kids.
Bonanza is another growing handmade marketplace, similar to Etsy. According to PC World, It boasts over 10 million visits per month.
Abe’s Market deals in natural and organic goods, such as lotions, candles, granola and more.
Many business owners sell their products on multiple platforms to get the most exposure possible. It is important, however, to make sure your inventory stays updated on all sites you have a storefront on.
Secondly, try reselling something, if you don’t want to make anything (or if you don’t consider yourself a creative person), many business owners have grown large organisations/businesses just by reselling products that have already been made. This can be done through a variety of ways or channels:
Set up an online store and partner with drop shipping companies that will do all the order fulfilment for you. Online ecommerce platform shopify has a great drop shipping guide.
Charity stops and Facebook selling pages (market place):
If you know where to look, you can find items which can be very cheap from charity shops or online via Facebook selling pages, and then resell them online or in your local community for more that you purchased them for.
Try and sell your services:
One way to start up a business with little to no start-up capital Is to sell your services, instead of a physical product. Some will require advanced degrees, such as accounting, while others require little more than a working knowledge of how it’s done (babysitting, lawn mowing).
Because you are selling your services, you will need a plan, a branding plan. Make sure that your name and company gets in front of the people who may need the service. Some places that are free for promoting your services include Fiverr, craigslist, etc.
A website showing off pieces of your work at this point will be brilliant! List your experience, and blog about your industry to draw visitors.
Being an entrepreneur is hard, but becoming one is even harder, as you have to try and find your customers for your services or to sell your products etc. Try and become competitive with your prices, so if you are wanting to set up a logo design business, look at other websites such as Vistaprint (this website is a great place to buy personalised items), and compare prices, making them affordable for the customer and making sure within the cost it covers everything which is essential to make these logos.
Come back next week for part 2 of ‘How to become an entrepreneur with no money’
Job hunting can be very stressful, especially if you have a family who push you to get a job so you can earn your own cash, or you could have friends who are going on shopping sprees, nights out or going on holiday, and you’re having to miss out because you don’t have the cash. Been there done that!
So we’ve come together to write some tips to help you get into the world of work… Before we start with the tips, try asking yourself, what am I good at? And what do I really enjoy doing? These sound really basic I know, but it will help you with your C.V.
Try and define your skills, before you create your C.V, this will help you think about, what are your core skills? (managing teams, being creative)? How have you utilised these skills and where? How can you transfer these skills (if it’s possible)? What skills can you bring to your future employer, which will add value to their business?
As you’ve probably realised is that I haven’t put any references or comments to the industry specifics. The reason for this is that in any change of career, it is the core skills you need to focus on. These are and will be your true ‘value adds.’
The next step is to build a great C.V… they’re a lot of CV templates online which you can use for free. Just remember that a C.V is not an autobiography, make sure your C.V is relevant for the application you are applying for, and make sure you add your appropriate core skills to the role. NEVER add anything in a C.V that you are not prepared to demonstrate or elaborate on! Also stick to the facts! Not opinions.
Also make sure that you review your resume every couple of weeks, as skills and your personal profile can change. Remember to focus on the positives…this could be questions such as…What have been your major career accomplishments? What were the ultimate ‘outcomes’? and how did you achieve these accomplishments?
Once you’ve completed your C.V you can now start looking for jobs (online or in store). When applying for job make sure you not only re-evaluate your approach, but also your situation, this is because looking for a job is a full-time job in itself. Make sure you dedicate a few hours a week to your job search, this will mean stepping up your efforts! Plus, if you are already employed and are reassessing your situation, take a few weeks off from looking around, you may then realise that things where you are already aren’t that bad after all.
Try applying for fewer jobs! (sounds crazy we know, but it’s true, I’ve also been there and bought the t-shirt.) One of the biggest mistakes that people job hunting make is firing off dozens of rushed applications in the hope it will boost their chances of being successful. Sending one brilliant application is far better than sending ten shoddy ones. It is a much smarter use of your time.
Out in the big wide world can be very competitive, especially in the job market, you need to make your application stand out so you can make it to the next stage of the recruitment process (interview). ALWAYS make sure you do your research on the company you have applied for.
We from Youth Enterprise Academy C.I.C hope that this has answered all of your queries about tips to job hunting. Come back next week for "how to become entrepreneur with little money" or why not take a look at last week post about "the most commonly asked interview questions"
“What can you tell me about yourself?” “What weaknesses do you have?” “Where do you see yourself five years from now?”
Alright some of interview questions are easier to answer than others. Never-the-less no one can predict exactly what you will be asked, however one thing for sure there is very high potential of a question making you stumble. Except, of course, when you have prepared in advance.
To assistance you with getting an idea of what could come up, we have created list of common interview questions, and a guild on how to answer them:
This is where you can find the necessary tips and links to help you gain the correct entrepreneurial and employment skills tailored to make sure that we naturally encourage and support you, in greatly understanding employment skills and too continuously develop your knowledge and understanding on how to write C.V's and how to make a brilliant first impression at a interview. This blog will also help you to get a greater understanding of what it takes to become a greater entrepreneur.
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