Connect with us

Inversk Life

Time Management Hacks for 9-5ers Looking to Earn an Extra Coin

News Team

Published

on

A report titled Leading Economic Indicators was released by The Kenya Bureau of Statistics in June, highlighting trends in consumer price indices (CPIs) and inflation among other things. When examining the report, you will notice the inflation graph has risen steadily over the past six months, which indicates something we already know: that the cost of living is becoming increasingly expensive and earning an extra coin is something many are considering doing if they haven’t started already.

The time to create multiple streams of income has never been more urgent. The challenge that people with ‘regular jobs’ face, is to find time to actually do that. I put regular in quotes to distinguish eight to five-ers from full-time entrepreneurs. A regular job demands set time in a work space doing assigned tasks. And so, a regular worker will have to set aside time and make sacrifices to be able to earn from other streams of income.

Workplace terms and conditions have to be considered before getting excited about a side hustle or self-improvement program. Make sure you review your contract because this delicate balancing act involves you dedicating at least eight hours for work. Be meticulous in this and set daily goals you have to meet for your job. You can go an extra step and fill in a performance review form every week to keep track of your work life.

John, 38 is the head of operations at an electronics store in the city center. He has learned how to artfully manage his time between his job and side hustle. Since he does most of his hustle online, it doesn’t take away too much of his time. He reckons employment is not the ideal way to live because of uncertainty and encourages people to take on one or two income generating hustles if they can manage to do them well.

Online work could be what you need to do to supplement your income. In fact, most of the times you don’t have to leave the comfort of your home since you just need access to a computer and an internet connection. You could do product reviews, write academic papers, contribute to online magazines or rate apps for a small but steady income. Sites like the controversial Public Likes, has taken over this type of hustle by storm though you might want to exercise caution there.

When reviewing terms, you could decide to renegotiate your employment contract. Blended work forces today have seen permanent employees and freelancers work hand in hand. This could free up some time for you to take on a side hustle or go back to school.

Make realistic goals for what freelancing could mean for you. It could take a while before you see returns from the work you do. Be ready to do many free jobs or earn meager wages before you can establish your reputation as being good at what you do.

Lydia, 27 an office administrator at an upmarket security firm, has been attending evening classes to get her degree in Finance. She has come to an agreement with her employer who lets her off early so that she can do that.

When considering a career upgrade that will consume, save for it. This money will help you avoid dipping into your regular income which could then strain you financially. There are many ways to go on about this, the most popular one this season has been the fifty-two-week savings challenge (#52weeksavingchallenge)

This challenge ensures you put aside money on a weekly basis so that it accrues to a huge sum by the end of the year. The beauty of it is that it is small amounts of money that you could be using to do other things anyway. A vibrant community has been built around this challenge to help you stay motivated and to keep you accountable.

Ask. People are often afraid of uncertainty and what it could mean to their job security. The worst that could happen is they say ‘no’, in which case you can look for alternative ways to carve out time. That will prepare you to seek out shorter courses with flexible time schedules. You could carefully select a variety of free online courses being offered by prestigious universities around the world.

Work towards sustainability. The economic binds in the report I mentioned earlier bring consequences that could be felt for many months. It is important to consider evaluating the sustainability of the income you get on the side. Is it taking money out of your pocket more than you can get it back?

My experience comes from working side jobs creating content, self-improvement courses with a full-time job as well. In some instances, when time is not managed well, the hustle suffers or work suffers and that is normal. I have learnt to say ‘no’ to opportunities that would benefit less in comparison to others that would build me more.

The Pareto principle which was coined by management strategist Joseph M. Juran, emphasizes on the 80/20 rule which when dissected states that less causes more. That 20% of your effort results in 80% of the result. Hence, targeting your energy on only the things that matter gives you the best results. Virtual organizers can help you sort through your 20% so that you can focus energy for maximum result.

Article written by Gathoni Kinuthia – a freelance superstar content creator for six years and enjoys creating and curating content. She has contributed an extensive body of work to websites, corporate blogs, newspapers and magazines

Comment using Facebook

Kenya's most incisive and informative platform to learn about business news, technology, markets, companies, startups, leadership advise, curated business and industry opinion, and affluent lifestyles.

Continue Reading
Advertisement

Business

The B2B Battlefield: How to Make Successful Corporate Sales

Jordan Stephanou

Published

on

So you’re running a start-up that targets corporate clients. All you need is a few corporate signatures on that paper, and all of a sudden you’ll have a sky-rocketing business with an exciting guaranteed revenue stream every month, right? Right… But it’s not quite that easy.

Maybe you decided against a B2C (Business to Consumer model) because the marketing spend to win over one consumer at a time was not worth it, or that the South African consumer market is not big enough in your industry, or that it’s better to get 10 paying corporates rather than a million paying individuals. You’re not alone, and you’re not wrong.

Both models have their major pros and their major cons. Trust me, I know. But here are some of the lessons I’ve had by pursuing the B2B model.

The pitch: Anything other than a resounding ‘yes’ is likely a ‘no’

First step is to get the pitch. There is a huge temptation to go about it as passively as possible, hoping that the deal will fall in your lap with a well written email. Reality is a little different however. To secure most pitches, a combination (or all) of in-person approach, phone call, linked-in message and email could be required. Once you’ve secured the pitch, book it in both parties’ calendars and hope that there’s no last minute cancellation. The exciting part awaits.

The sad fact of human nature is that people don’t always say what they mean, or mean what they say. Possibly it’s because we don’t like to hurt each other, or it’s because we avoid uncomfortable discussion as if it’s the plague.

Whatever the reason, it’s quite rare to receive “hard no’s”. The reality is that after a pitch, anything other than a resounding yes, or a “when can we start”, or “where can I sign?”, is likely to be a soft no; they have no interest in doing business with you. The entrepreneurial spirit is one that looks at the positive in everything, so it could be very dangerous for a glass half-full entrepreneur to receive a soft no, because this person will very much believe the deal is still alive.

Once again, trust me, I know. I recommend tempering the enthusiasm by looking out for any sign of an excuse during the pitch, and addressing it then and there. You know how hard you worked to get that meeting – so make sure you leave with no question unanswered, knowing that you did everything you could to win that business, or learnt everything you could to enhance your product, service or pitch to win future business. If you don’t get their business, it just means you didn’t get their business right now. Extract the positives and move forward.

1. Balance patience & momentum: They don’t operate like start-ups

It’s often said that a corporate is the most important thing to a startup, but a startup is far from the most important thing to a corporate.

As SMEs, we just have to accept that. Where we would respond to an email in a heartbeat, it may take our corporate contact 2 weeks to respond; especially if they are decision-maker. They don’t need our business, but we need theirs. As such, it’s important to remember when following up on a successful pitch that they are big, they are busy, and they have multiple balls being juggled at once. It’s likely that our proposition is the least important to them, and may be seen as a luxury.

Remember, they didn’t pursue you, you pursued them. So we have to be patient. But this is the difficult part; we have to balance patience with the desire to keep momentum. It’s an oft-said phrase that “time kills deals”. As start-ups, we need to be respectful that our prospective client is busy, but also very direct and honest with them in terms of our position and our goals and objectives.

If we are direct about when we want to conclude a deal and why, it could scare them away, or it could lead to them prioritizing the deal as a priority. Either way, it’s better to know where you stand rather than have something drag on in that mythical pipeline for months or years as false hope.

2. Their emails are not their priority

After the pitch, it’s easy to get in an unhealthy pattern. That pattern could look something like this: Send follow up documents directly after the pitch; hear nothing back from the prospective client; send a follow-up email the following week; hear nothing back; send another follow-up email the following week; hear nothing back; send another follow-up email the following week etc. into perpetuity until you go crazy and re-apply for your old job.

I have learnt that busy decision-makers in the corporate environment don’t just sit at their desk all day reading and responding to emails. They’re on the move, in important meeting after important meeting, flying to London followed by a quick trip to Doha and then 10 days in New York. They’re not setting the wheels in motion in response to your proposal in that spare 30 minutes in the airport.

As such, when they are available, you need their full attention and you need to get them to commit to the next step. Either a phone call or in-person visit is effective with this. Getting through to them and asking them the difficult questions about the next step is the only way to be top of mind, and to find out if they are serious about this deal or not.

From my lessons, I recommend emails as secondary to the phone call as a way of confirming what was discussed over the phone in terms of next steps.

3. Improve the product / service – become irresistible

With all else said, there is only one way to consistently increase chances of getting a deal over the line. That is, simply, have an incredible product or service that solves a real problem. If you have pitch after pitch where the response is luke-warm, you should ask them before leaving “what would this product have to do / look like for you to sign up right now?”.

Once you’ve had a few meetings like this, you will understand exactly what your market needs. If you build that product or service that the market craves, you’ll be turning away clients because the demand for your business will be so high. Become indispensable. Build something so good that your clients would be crazy to say no to.

4. Build a pipeline

Your business should never rely on one client saying yes. Putting too much emphasis on one deal will make you desperate, and desperation is the easiest way to scare someone away – relationship, business or anything else. Your market should be big enough that a rejection here and there is water under the bridge and simply a learning.

Closing one deal will provide a proof of concept and credibility that can be leveraged to close the next deal. Each subsequent client should, in theory, be easier to win than the previous one.

Finally, if the product or service is constantly being enhanced according to the market’s needs, if there are enough clients in the pipeline, and if the follow-ups after a great pitch are being done effectively, deals should go through systematically. At the end of the day, closing a deal shouldn’t feel like hard work. The best way to win business is by building a great business that solves real problems.

Comment using Facebook

Continue Reading

Forums & Events

Mary Njoki to Speak During the 2019 SME Breakfast Forum

Kimani Patrick

Published

on

GlassHousePR MD, Mary Njoki, is set to speak at the revamped breakfast forum for SMEs on June 11th 2019.

The event, organised and hosted by Inversk Magazine, is a 4-hour learning and networking forum for senior business leaders including CEOs, CFOs, COOs, presidents, business owners, founders, managers and other executives.

The event’s theme is Business Scale Up and selected speakers will discuss and share their experience in setting openness and trust with employees, customers and other stakeholders in growing an enterprise.

Mary Njoki’s talk will majorly focus on creating, building and strengthening relationships through public relations. Her firm, GlassHousePR, is among the leading Public Relations firms in Kenya with a track record of driving desirable results for firms such as Facebook, Credit Bank, Dinara Developers, Viber, Bountiful safaris, Banda Homes among many others.

In addition to learning and listening to success stories on how companies have built trust, culture, sustainable innovation and reputation in their companies, participants attending #SMEBF2019 will be able to drill down into the key issues that are most relevant to their businesses leaving with tangible tools of business transformation.

Other speakers at the event include David Svarrer, an Enterprise Solutions Architect who will speak on Sustainable innovation and Scaling, and Muchiri Wambugu, the Popote Payments MD who will delve into Capital management and petty cash handling – The best practices to save your business both cash and time while maximizing profits.

Individual tickets are now selling at a discounted price of Ksh 3,500 through Mpesa Paybill: 650377 for A/C: SME Breakfast.

Marketing Opportunity

This forum presents a unique opportunity for brand positioning and communication that will enjoy optimal visibility before decision makers who have significant purchasing power and decision-making authority. Interested organizations and/or persons can reach Kimani Patrick (lead organizer) on 0710 254524 or kimani@inversk.co.ke. Inquiries to the event can also be directed to him through the same contact lines.

Comment using Facebook

Continue Reading

Inversk Life

The creativity that M-Changa inspires

Matt Roberts

Published

on

Mon.28 Jan. Irene Akenga,

M-Changa is a fundraising platform that allows anyone to start a campaign within their network and beyond. Lets check in some of the successful stories within the platform.

GEORGE’S SPINAL SURGERY IN INDIA

(Above: Mr and Mrs Ambayo)

George Ambayo, born in the year 1952 is a loving husband to gospel songbird Florence Ambayo and father of two sons, Richard Oketch Otiang’a and Barnabas Yuka .

George has lived a happy and healthy life until mid-2018 when doctors diagnosed him with spondylosis and disc disease of the human spine (lower back) with maximal changes and neural compression at level L5-S1.

A compressed nerve by a prolapsed disc caused George to have leg weakness and problems related to urine and stools. As a retired accountant, he wasn’t able to come up with the funds needed to travel to India for spine surgery.

“By God’s grace when I was stuck in terms of getting the finances a good friend of mine, Joshua Ochieng introduced me to M-Changa. He told me M-Changa is a very effective organisation that can help you raise funds” – George Ambayo.

George set up a campaign on donations based crowdfunding platform M-Changa, managing to raise Ksh. 743,000 in just three weeks thanks to 235 friends, family members and well wishers who supported his campaign.

Thanks to Kenyan generosity, the funds raised enabled him to travel out to India on the 4th of November. He was taken to DELHI GURGAON hospital on the 8th of November to undergo a 6 hour successful spine surgery to remove two discs and replace them with artificial discs.Miraculously George was discharged and has been able to walk without a walking stick or wheel chair. To this day, George walks 45 minutes in the morning and 45 minutes in the evening as his physiotherapist instructed.“I want to say a big thank you to the 235 people who contributed to my fundraiser, I also want to thank the wonderful team at M-Changa who were so caring and supportive throughout the process” – George Ambayo

An unexpected side effect to his fundraising activity online is a raised social life, “I remember when I got back from India and I decided to send thank you messages to each and every person who had contributed to my M-Changa fundraiser and many people got back yet I didn’t even know them.”

“Fundraising can be a daunting task, especially for hard working members of society like George Ambayo. If anybody out there has a fundraising need – they should take advantage of fundraising platforms such as M-Changa to help them reach more people quickly – it can help them to quickly raise funds and prove their genuinity” – M-Changa contributor.

Comment using Facebook

Continue Reading

Trending

Copyright © 2019 INVERSK MAGAZINE. Developed by ITIPS