Tag: opportunity

Self Employment Ideas

For a smooth living, a stable source of income has become an utmost necessity. The modern world grants many employment opportunities to the people to choose from. People choose their career options that suit their necessities and personality. People engage themselves in various jobs to secure their present and future. The 9 to 5 jobs are considered to be the most common and safe option for people that promises a good salary at the end of the month. In the present time of crisis, many people lost their jobs and with no source of income, life has definitely come to a standstill for them. To keep going with the flow of life, people have started to utilize their passion in a professional way that would fetch them money to lead a good life.

Self employment is that job opportunity where a person is his own boss. Although being self employed is not at all an easy task because there are challenges at every step. Initially, a self employed person might face many downfalls, monetary losses, uncertainty about continuity of the job and many such issues. Apart from that, stress, anxiety, feeling of despair, under – confidence, societal pressure, unfulfillment of economic needs etc might crush the person. But if a person believes in himself and his ideas, is determined and hard working, no challenge can break him. Ideas and proper execution of ideas are the key to a successful self employment opportunity.

10 Self Employment Ideas

1. Freelancing

Freelancing refers to that self employment idea where a person puts up his skills on the concerned websites so that they could be hired by companies for a period of time. Freelancers don’t work as employees rather they work on the basis of contract. Freelancing includes works like Content Writing, Proofreading, Web designing, Copywriting etc.

2. Blogging

Blogging is the most common self employment idea presently. To become a good blogger, one needs to have an internet connection, a laptop or maybe a smartphone and a lot of ideas on varied topics that would catch the attention of the readers. For example, right now, ‘Fashion’ is something that everyone is interested in and blogs on fashion would fetch a blogger with lots of readers and ultimately profit. The same goes with health and fitness blogs, travel blogs etc.

3. YouTube

YouTube has become the most popular platform on the internet where people showcase their talents. Some use this platform for entertainment purpose and for some it is a source of income. People post their music, dance, acting, cooking, painting and other such videos on YouTube. YouTube pays people when their videos cross a certain limit of views, likes and subscribers. Some people even earn around lakhs monthly from YouTube. It is a perfect platform to earn name, fame and money.

4. Make – up Artists

Make – up Artists are in great demand nowadays. A training certificate from a well known institute is enough to start with the job. Although the well established Make – up Artists have customers throughout the year yet the business of the Make – up Artists bloom more during the wedding season.

5. Home Bakers

In the past few years, home bakers have come up in huge numbers. People who are interested in baking have taken an opportunity to use their skills to earn money. Home bakers bake at the comfort of their homes and sell their eatable items.

6. Selling hand – made products

People good at art and crafts can make use of their crafting skills to start their own line of business. There are many websites where people sell their hand made products. Social media applications like Facebook, Instagram etc are used for promoting their products. Some of the hand – made products are so well crafted that it gives a tough competition to machine – made products.

7. App designing

With the popularity and necessity of smartphones, app developing industry is getting popular. With a proper training in an app developing course, one can start his career in this industry even remotely.

8. Social Media Influencers

This profession is the most discussed and popular profession of recent times. With the growing popularity of social media, social media influencers are growing in numbers. These influencers specialise in specific content and work on those contents. They make regular posts on their social media accounts on their specialised topics in an interesting way to attract the attention of the viewers. Because these influencers have a massive fan base, they are approached by the top brands for promotion of their products. This is of course a great self employment idea.

9. Tuitions

If a person thinks that he is good at any subject, he can start teaching students. Initially there might be one or two students but gradually if his students appreciate his teaching process, many more students would enroll themselves in his tuition. Because people give so much importance to education, taking tuitions is a good idea to start one’s career.

10. Photography

The photography industry is also growing rapidly. A person with photography skills can easily turn his passion for photography into profession. To begin with, one should take mini steps like concentrating on creating his own portfolio, learn from or intern under skilled photographers to enhance their already existing skills. After building a strong portfolio and promotion of his works, he could be approached by people to cover various events from which he can earn his living.

These are a few self employment ideas that people can make use of to earn their daily bread. Before taking up any self employment idea, one has to self introspect and self discover to know what he wants in his life. When a person turns his passion into profession, his zeal towards working immediately doubles than ever before.

Decision Making 101: Opportunity Cost

How we make choices | TED Talks

Wherever we are and whatever we are doing currently, is the result of the decisions we have made in the past. You have chosen to read this article and not scroll past it or do something else like watching TV or taking a nap. You have consciously made a choice from an array of options that were in front of you. Opportunity cost is the loss of benefits that could be derived from the next best alternative once a choice has been made. By reading this article, you have forgone the pleasure that could have been derived from watching TV or energy that you’d have got from taking a nap.

Opportunity cost is a term in economics but it can be applied to almost every aspect of life and not just the things that can be measured in monetary terms. When an investor chooses to invest his money in a particular stock, the opportunity cost is the return on investment that he could have enjoyed if invested in a different stock. If that investor had an excess amount of funds, he could have invested in both the stocks but that sets things like money, time and even opportunities apart – they are limited. This elucidates the importance of making well thought out decisions.

People who are doing 9 to 5, 5-days a week jobs face difficulty in realising their opportunity costs because they have a fixed schedule and only do what they are told to. They barely make any decisions on their own and just do what their boss tells them to on a regular basis so when they finally see an opportunity to relax on weekend, they don’t look for alternatives and just go with the flow. In case of freelancers or businessmen, however, these people are much more conscious of what they lose when they decide to spend their limited resources in a particular activity. A tailor can easily sacrifice the amount of business he is sacrificing when he decides to go on a week long vacation.

Opportunity cost is everywhere and in everything we do. When a person with a job decides to party on saturday night and sleep in because it’s sunday, he gives up on the time that he could have spent with his family. When you decide to get an MBA from a named university and pay a hefty tuition fee for the same, you sacrifice not just the money but the time, 2 years in this case, that could have been spent in doing a job or learning a different skill. You still chose to go for an MBA and the reason could be because you can get a much better job that pays better than the one without an MBA. Basically, It is all about weighing your alternatives correctly and carefully.

Decision making process isn’t complicated but two of the most crucial steps are identification of alternatives, followed by thorough examination of each alternative. All the benefits that are derived from all the alternatives need to be compared and the one that seems the most satisfactory should be chosen. One can also weigh his options on the basis of what he would regret sacrificing the most.