Vanya Wryter Consulting Services

Tag: Entrepreneurship

  • Should You Go to College If You Can’t Get a Job

    Should You Go to College If You Can’t Get a Job

    Ever since your earliest days at school, you’ve been told to attend college after high school graduation. You were told it will land you a great job, but the path to a college degree is expensive. Exact figures vary, but it can be over $5000 a year, and the cost is only going to rise!

    Is a college degree worth it, however? Should you go to college if you can’t get a job after graduation? Let’s take a closer look at whether a college degree is worth it and if it’s possible to get a high paying income with only a high school diploma.

    A College Degree Teaches You Valuable Soft Skills

    One of the strongest reasons to go to college is the valuable soft skills you will learn. Soft skills are the communication skills and social skills that are a part of a person’s social intelligence and emotional intelligence.

    Examples of soft skills include critical thinking, organization, communication, leadership, creativity, work ethic, and time management. Employers advertise what hard skills they want from a prospective employee, such as reading, writing, math, and computer skills, but they also consider your soft skills.

    When you attend college, you coordinate deadlines, work on group projects, and complete written assignments. All of these aspects of college involve working on your verbal and written communication skills, and critical thinking and problem-solving skills.

    Your time in college is also an opportunity to make connections with other people who may even work in the same industry someday. These connections may help you to find unadvertised job opportunities in their companies.

    Depending on the source, from 15% and as high as 30% of jobs are advertised. That means at least 70% of jobs are in the hidden job market. Your connections could help you to find jobs that you didn’t know existed. These people may even become your job references.

    Higher Income and Employment Stability

    Another reason to go to college is that statistics show those with a college degree have a higher income earning potential. Those with college and graduate degrees have lower rates of unemployment.

    In 2019, those with a doctorate degree had a 1.1% unemployment rate, compared to a 5.4% unemployment rate for those holding less than a high school diploma.

    The same study about full-time wage earners found that those who had a bachelor’s degree made a median of $1248 in weekly earnings compared to a median of $746 in weekly earnings for someone with a high school diploma.

    Having a college degree is not a guarantee that you will get a job, but you are statistically more likely to be employed than someone without one.

    A College Degree is Required for Some Careers

    Going to college is a necessity if you want a career that requires a degree. For example, a post secondary education is necessary if you want to be a doctor or lawyer. Also, a degree may be required for jobs in a specific field of expertise. In these cases, your choice of career has already made the college decision for you.

    Generally, a bachelor’s degree is expected for most entry level jobs. It may even be the minimum qualification to apply for one. For some jobs advertised, the degree may not seem relevant to the skills required in the job description, but it is the minimum level of education.

    A college degree also helps with career advancement, particularly if you are looking for a role in management.

    A High Income Can be Achieved Without a College Degree

    If you can’t get a job and you don’t have a college degree (and you aren’t interested in getting one), you have another option.

    This path involves a lot of ambition and thinking outside of the box. You may need to take risks to try something most people won’t do.

    Your income will be similar to a roller coaster ride, with no guarantees of stability, but if you persist and you’re successful, your income will have no limits. One path is entrepreneurship. You’re selling a product or service that people want. Another path is developing your knowledge or skills so you are highly successful or highly in demand, such as excelling in investments or your talent.

    Bill Gates, Mark Zuckerberg, Li Ka-Shing, Richard Branson, Jay-Z, Catherine Zeta-Jones, and Uma Thurman are just a few entrepreneurs, musicians, and actors who either dropped out of high school or college and became household names.

    Achieving their level of success is not easy. You’ll need to be a self starter and invest in your own education and skills. It also helps to have a good mentor. Many entrepreneurs either didn’t get a college degree or built a successful business in spite of their college degree.

    Summary

    Going to college has its advantages. You can go to college to work on your soft skills and build connections that will be valuable later in life. Another reason to go to college is to get a degree as a first step to a career. A degree generally increases your income level and chance of employment, but it doesn’t guarantee employment. If you’re willing to work hard and develop a high income skillset, you can be financially successful without a college degree.

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  • Should You Join an MLM? A Detailed Guide

    Should You Join an MLM? A Detailed Guide

    Often when you ask about joining an MLM (Multi Level Marketing), people have a strong, highly opinionated reaction. You may have heard MLMs are out to scam you, put you in debt, waste your time, and destroy friendships. All are true. Yet people are still signing up to join MLMs and you can still hear stories about people making a solid living 100% on an MLM income. So what information is the truth and what is a lie?

    If you’re still wondering whether you should join an MLM (or network marketing), you’ll find answers here. This article will break down the pros and cons of joining an MLM, based on actual personal experience. For some, joining an MLM is the right choice, while for others, it isn’t. Let’s see which option best suits your situation.

    The Cons of Joining an MLM

    We’ll start with the cons of joining an MLM. If these negatives don’t deter you, then the positives may be the extra income option you’ve been looking for.

    • It’s a saturated market. If you’re considering an MLM company that has been in business for a long time, many of your prospects will already have been approached by at least one person from that company. In one case, someone I spoke to had already been approached by two others in the same company over the years. However, if your company is new, chances are, there is competition in the same niche. For example, there are a lot of supplement and skin care companies.
    • The initial and ongoing investment. The cost to start your own MLM business is a lot less then the cost of starting a traditional (non MLM) business. But each month, you will need to order products, maybe products you don’t use yourself or can’t sell, just to keep your business open. You’ll also be expected to spend hundreds or thousands of dollars to attend annual and occasional company training events.
    • The stories about getting rich and leaving your 9 to 5 job are exaggerated. Most associates who join an MLM barely make a commission that covers the cost of their minimum monthly order. You will hear stories about a handful of people who went from zero to a six-figure income in a year or two. Success stories like these are the exception, not the norm.
    • They say you are self-employed if you join an MLM but technically you are more like an employee (without the salary). The commission structure, price for products, and regulations for advertising your business are all already determined by your company. A true self-employed person decides how much to charge customers, what products to sell, and how to advertise.
    • You potentially alienate friends and family. The MLM company encourages you to start by prospecting people you know, which would be friends and family. People who know and trust you could be the easiest to convert into customers. Some people press their friends too hard, however, and cause friendships to end. A friend of mine said his friend gave him an ultimatum: join his MLM team if he really was a true friend or end the friendship. My friend was hurt and haunted by the choice he was forced to make.
    • Introverted people with a small social network will struggle. As stated above, you’ll probably start by prospecting friends and family. If you’re an introvert with few friends, you will struggle to find prospects. An MLM doesn’t provide you with leads, so it’s up to you to network and attend social events to meet new people. You can expect to spend a lot of time and money going to lunches, dinners, parties, sports activities, and all kinds of social activities to build these connections.
    • Biased information about company products. The company will give you statistics and proof from scientists, medical experts, and industry influencers about why their products are the best or one of the best in that niche. They will explain why direct sales products are not found in stores and are more expensive but high in quality. But they will not tell you if there is a product on the market that is better suited to your specific situation. In my case, they told me I was using the skin cream incorrectly and six months was not enough time to get results. (Later, I tried a product from another company and got the results I wanted in two weeks.)
    • Training that depends on the strength of your team and upline. When you join an MLM, you join a team. Your upline (the people who joined before you and brought you onto their team) are responsible for training you on the products and how to get leads. The quality of their presentations and ability to help you with prospects directly affects how quickly you will learn the business. 
    • MLM is advertised as a source of passive income, but that is a myth. MLM associates look for people who want to start a side business or who are interested in making a passive income. They will tell you that when you recruit your own associates and build your own team, you will make commissions from their sales. In theory, this sounds great, but in practice, you will constantly be working to recruit new members to replace the ones who drop out. You will also need to train and support your recruits. Your income will not be passive – you will work to earn your commissions.

    If these cons don’t deter you from joining an MLM, then take a look at these pros. There are success stories about people who do join an MLM and stay on their team because they like the benefits of being an MLM associate.

    Related: How to Make Money in an MLM

    The Pros of Joining an MLM

    For some, joining an MLM has many perks. If these situations suit you, then definitely consider joining an MLM company. I have friends who have been an MLM associate for years.

    • Joining an MLM is a lot easier than starting a traditional business or transitioning to self employment. The initial cost of joining an MLM is a lot less than the cost of starting a business. Also, because you are joining a team of people who are part of the same company, you will have people who already know the answers to most of your questions. When you start your own traditional business, you’re on your own as you handle many legal questions such as licensing and collecting GST. You won’t have an upline to teach you about business strategies. You’re the one deciding on what products to develop and what services to sell. If you don’t have a strong business background, all your questions about marketing and sales can be overwhelming.
    • You are part of a team. Unless you’re going into business with a partner, it can get lonely really fast if you’re self employed. Many sole proprietors join business groups and networks for the support from people in other companies. If you’re in an MLM, your teammates are part of the same company, and your upline works to support your goals. You’ll make friends who have the same interests.
    • Tax deductions and write offs. If you have a stable job (or source of income), your MLM business can provide you with some enviable perks. First, if the products you are buying, such as supplements and energy drinks, are products you want to buy anyway, you can buy products and write off some costs. Second, your MLM business is a business, so you can write off costs such as attending training events and items needed to run your business, such as a phone. MLM associates have received thousands of dollars back at tax time. Third, if your company training event is at a destination such as Vegas, then your hotel and meals are part of your business expense and write offs. It’s like going on a working vacation!
    • Learning skills that apply to your personal and professional life. In order to learn to speak to prospects about your business, you need to perfect a few skills.
      • The first one is to learn a strong mindset. Many people will say no to you before you get a customer. All those no’s can be hard on you emotionally.
      • After mindset, you learn skills such as time management, goal setting, and organization. It’s up to you to decide how often you want to work on your MLM business. Will you work on the weekend or be lazy and watch a movie? It’s up to you. It’s also your responsibility to stay organized and keep track of receipts and other information for when you do your taxes.
      • One of the most important skills you will learn is public speaking and giving a presentation. You’ll need to learn how to talk about your MLM business. For many, public speaking is one of their greatest fears. If you can’t overcome this fear, one of the most important aspects of an MLM business will one of your greatest hurdles. If you overcome your fear of speaking to strangers and speaking to groups, you will develop a confidence that will benefit you in your personal and professional life.
    • Learning business skills that give you a foundation for starting a real business. You will hear that your MLM business is a business. However, you’re not really self-employed in the traditional sense. You have no control over how much you can charge customers, how much you pay yourself, or how you can advertise yourself on social media. As a traditional business owner, you have control over all those aspects. However, as you learn about building an MLM business, you will learn the foundation for entrepreneurship and developing a business mindset and attitude. If you decide to start a business later, you will already have some important business knowledge and acumen.

    Related: Cold Market Prospecting

    Summary

    People may warn you to stay away from joining an MLM because it is a scam. The truth is, joining an MLM may suit the needs of people who are looking for some of the benefits of those who have a side business, without the hassles of a traditional side business. For those who want to get rich, or replace their income with MLM income, their goals may not be realistic. There is no simple answer to whether you should join an MLM, but hopefully this pro and con list will help with your decision.

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  • What Should You Do If Your Career Takes A Wrong Turn

    What Should You Do If Your Career Takes A Wrong Turn

    Regret is a powerful motivator.

    Recently my memories seemed to morph into the ghosts of Christmas Past, Present, and Future. I thought about the career I used to have, and how stable and comfortable that job had been. It was my dream job, but things changed, and I found myself looking for a new career.

    I had decided to take my skill set and become an entrepreneur instead of taking another job, building up my career from scratch at another company, and risk being laid off again. Today, just a week before a new year begins, I face an uncertain future. The future is scary.

    It’s scary because so much is unknown about it. Will the pandemic come to an end? Will the economy improve? Will I need to make more pivots to my business so that it will thrive?

    When I first started my business, I made some mistakes. Looking back at the wasted time and the wasted money is painful. The regrets are painful. But looking forward, I see a chance to do things better. More wisely. More efficiently.

    If you’re thinking about changing careers, or your future is unknown because of COVID, consider these tips whether you’re looking for a job, or working on a business like I am:

    • Assess your financial situation. How much do you have in savings? How much debt? Should you borrow money to pay expenses while you work to get your career back on track?
    •  Look for options in which you can develop your skills while working. Can you use your current skillset to get some employment while you continue to build on your skills by taking courses or learning on the job?
    •  Build a professional support network. I’ve joined Facebook groups and attended online network meetings to get to know people. Through these connections, I have found clients and work opportunities.
    •  Work with a mentor. A career coach or someone with more experience than you in an industry or field can guide you. They can point out what you need to work on, steer you away from making potential mistakes, and share important wisdom with you.

    A year from now, I want to feel like 2021 was the year I made progress. At that time, I will look at the past fondly, the present with satisfaction, and the future with bright hope.

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  • Writing Skills that Entrepreneurs and Santa Would Crave?

    Writing Skills that Entrepreneurs and Santa Would Crave?

    Would you feel more comfortable crafting a handwritten letter or sending a quick text? Most likely you answered “text” because most of us feel a bit out of practice when it comes to writing by hand. In fact, our writing skills (by hand or keyboard) has been declining each generation! A perfect example of this is the tradition of writing letters to Santa Claus at this time of year.

    Good kids (well, all kids) are still writing their wish list to Santa at the North Pole. But over time, people haven’t been writing as well as they used to. When was the last time you picked up a pen and wrote a complete letter to someone? How confident are you in your grammar and spelling each time you compose an email for work?

    If you’re feeling a bit shaky about your writing skills, you aren’t alone. Entrepreneurs have noticed, and they’re doing something about it. Whether you need to write a letter to Santa or need some help with business writing, you can count on your own secret elf to help you out with this task. What is this secret elf… well, tech?

    I’ll answer that in a bit. First, we need to understand how we got here – why the marketplace created a need for technology to assist us with writing in the first place.

    Writing Skills and the Impact of Technology

    These days, our writing skills are at the point where we may need help to write our letters. Blame technology for the decline in our writing. (And then thank technology for saving us, ironically.) Like dinosaurs that couldn’t adapt to change, we stopped seeing the value of composition when we didn’t need to grip a pen in hand.

    Why write a note when you can send a text or voice message? Technology is so much more convenient and painless. Back when we had to write pages and pages of sentences by hand, you could get callouses on your fingers just from holding your pen for hours. And back then, you could get a high from sniffing liquid whiteout when painting over your mistakes.

    Those were the days when writing was a workout, you double checked your spelling, and you could identify verbs and nouns. Now we spend more time rapid firing messages with abbreviated words on our apps, LOL. (LOL is laugh out loud, if you still like to handwrite things.)

    A study showed just how much times have changed. The study found that these days, college students are spending more time on social media now than reading. When it comes to assignments, they are graded on the content of what they write, not their writing ability!

    In fact, a study found that “Teachers have been reporting anecdotally that even compared to five years ago, many are seeing declines in vocabulary, grammar, writing, and analysis.” Good writing skills are on their way to extinction.

    Despite this trend with writing skills, people still treasure a handwritten message. Think about your reaction to a hand scrawled message on a birthday card. Or a quickly jotted note from a loved one. There is something about handwriting that technology just can’t replace.

    The Skills Behind Writing a Handwritten Letter

    It’s been a long time since most of us have seen something as rare as a handwritten letter. A survey of Americans found that “33 percent say they haven’t gotten a handwritten note in more than a year,” and another survey said that “fifteen percent of Americans say they haven’t written a note to someone in more than five years.”

    Think of how wonderful it would be to receive a handwritten note. Years ago, people cherished handwritten letters a lot more, and it was a way to communicate messages that you could keep someplace safe and look back at them time and time again. The early letters to Santa is one example of this way to pass on advice.

    Photo credit: Jonathan Borba

    That’s right – pass on advice, not send Santa a list of toys. The tradition of writing letters to Santa has a long history that has evolved a lot over time. At first, the letters weren’t about getting toys. Over a century ago, Santa was writing letters of advice to children. He would comment on their past behaviour over the year and how they could improve for the coming year! Santa (well, the parents) would leave these letters near the fireplace.

    As it became more common to buy stamps in the 1860s, American children started to send letters to Santa at the North Pole, where they believed he lived and worked. The tradition evolved to what it is today: children who are good ask for toys that they would like to see under the tree at Christmas.

    Technology has also evolved. If you don’t know how to write a letter – or struggle with letter writing in general – you can still be a competent writer.

    Websites such as emailsanta.com make the writing process super easy for those who want to write a basic letter to Santa. You choose a stamp, go to a webpage with the skeletal structure of a letter, and fill in all the blanks. And just like that, presto, your letter to Santa is complete! You will also instantly get an answer back.

    You could say that letter writing programs such as this one is contributing to the decline in writing skills because the process has become so automated. But you could also say that technology can help with teaching writing skills.

    At the marthastewart.com site, they teach you how to write a letter to Santa Claus. It even has instructions on how to get the letter sent back to the child’s home. When the child reads the letter, they will find a personalized answer from Santa himself. The secret of course, is the additional instructions to the parent on how they can write the reply as Santa before the letter is returned.

    I don’t remember writing to Santa as a child, but I’m sure back then I would have been impressed that he took the time to write to me, one kid out of millions. I was already content that he could spare a few seconds on Christmas Eve to drop into my home and fill my stockings with gifts.

    With all this technology, what will happen to letter writing in the future? Will children be sending voice messages or video messages to Santa in a couple centuries?

    Photo credit: Valentin Petkov

    Are Shortcuts to Writing the Solution to Writing Skills?

    Chances are written messages will still be around for a while. Entrepreneurs are constantly devising new ways to answer our desires for personalized content and bridge the writing skills gap.

    If your handwriting looks like a chicken scratched some random ink on the page, digital handwriting services are here to rescue you. Marketing research has found that customers are more likely to read a handwritten message. Just think of the last time you held a pile of mail in your hand and you saw handwritten words on an envelope. Weren’t you assuming a friend or family member had written to you?

    I was surprised when one such envelope with handwriting on it turned out to be a marketing campaign from some company I hadn’t even heard of. However, I’ll give them credit for piquing my interest for a good minute while I opened the envelope to see what was inside.

    Thanks to technology, we don’t need to hire a human to handwrite each letter or note to a potential customer. We’ve got automated bulk mail machines to send the same letter to hundreds of people at the same time. The handwritten text just adds that extra personal touch.

    With these services, it is even possible to get these digital handwriting services to “handwrite” your annual Christmas letter to your family.

    Entrepreneurs are always looking for ways to solve problems. Writing skills may be on the decline generation after generation, but AI (artificial intelligence) could save you.

    A site such as copy.ai is geared toward brainstorming the copy for digital agencies, copywriters, and ecommerce brands. There’s no excuse for writer’s block anymore. Not when a website can help you with copy creation for Facebook, your blog, Instagram, and more. There’s a fee for the service, of course, but maybe now you won’t need to pay for writing courses to improve your skills.

    I wonder what people from two centuries ago would say about our writing skills today. Would parents have preferred to use technology to handwrite their Santa letters to their children?

    Summary

    Handwritten letters seem to be a lost art. Nowadays, people’s writing skills aren’t as good as they used to be.

    However, entrepreneurs and businesses have found a way to solve the writing skills gap. A letter to Santa could be composed using technology you find online. At the office, you can employ the services of a website to write your copy for you. Despite these changes, one thing remains the same.

    People still value receiving a handwritten note. Perhaps you could handwrite a short letter to a loved one this Christmas and see what happens.

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  • Entrepreneurs: Develop a Wealth Mindset by Reading Robb Report

    Entrepreneurs: Develop a Wealth Mindset by Reading Robb Report

    Why did you become an entrepreneur? You most likely wanted a challenge, income security, financial success, or you weren’t happy with your situation at work. No matter what your reason, developing a wealth mindset is important to becoming successful as an entrepreneur. One way to develop that mindset is by reading Robb Report.

    What is a wealth mindset and why Robb Report? To start with, here are some important stats you should know. In the world, there are 582 million entrepreneurs. You’re not alone! And as of 2016, 25 million Americans had already started or were already running a business of their own. Sounds positive, but also consider this: within the first year, 22.5% of small businesses fail.

    Why Develop an Entrepreneur Wealth Mindset?

    To avoid becoming a statistic, or a cautionary tale for entrepreneurs, it’s important to develop a wealth mindset. Contrary to what it may suggest, a wealth mindset isn’t just about getting rich and having money. Wealth is also about abundance.

    Do you read or hear about people complaining about how expensive the cost of living has become? What about people complaining about their salary and how they want to be paid more but they aren’t? I read negative comments about costs and salaries and prices all the time. It’s easy for people to complain.

    The problem is your mind gets cluttered with the negativity. You could be hearing a voice in your head saying your career goal is out of reach, that your income goal is impossible, or no one wants to buy what you want to sell.

    The entrepreneur wealth mindset defeats those thoughts. You want to see the world as abundant. You want to start believing that there is enough money to go around, and there are enough customers to go around.

    No matter how dark those early days are as you struggle with the first few years of your business, you must believe that wealth is totally attainable. You have to believe that one day, your business will start to turn a profit and you can tell your friends and family, “I did it! I told you I would.”

    Photo by Nina Uhlu00edkovu00e1 on Pexels.com

    What Does Robb Report Tell Us About Wealth Mindset?

    My business mentor taught me reading the Robb Report is one way to develop a wealth mindset.  The Robb Report is both a print and online luxury magazine about luxury vehicles, vacations, dining, and fashion. The target market is the superrich, those “with an average income of $1.25 million and an average net worth of $7.5 million.”

    What if you’re nowhere near that income bracket?

    No worries if you’re short by a few million. It’s all about the mindset. Read what the wealthy read about. According to Robb Report, the top three most popular articles for 2019 were about a $250 million dollar yacht, American restaurants rated by Michelin, and America’s biggest 3 million square foot mall in Rutherford, NJ. Most of these popular topics are quite relatable to us all. Many of us like to eat and shop.

    The amount we spend when shopping is a bit different in the Robb Report universe. The magazine is not at all squeamish about listing the price of an item. A Frette Chains Wool Blanket, for example, is described in a highly desirable way:

    “Frette is not a new name in the world of luxury textiles—it was one of the official purveyors to the Italian royal family back in the late 1800s, after all—and this grey throw readily fits in with the brand’s storied oeuvre. Made of soft virgin wool, it’s a dream to curl up in.“

    Underneath the description is the price: $1067. No problem! The typical Robb Report audience does not bat an eye when dropping a few hundred – or thousand – on an item. Many of us more humble entrepreneurs might balk at spending over a thousand on what better be the blanket of the century.

    Read more: Why You Should Charge More to Keep Customers Happy

    However, when you start reading these articles, you can train your brain to think with a wealth mindset. You start to think differently: Money comes to you in abundance. One day, you will be able to afford what you want without calculating how each purchase will impact your finances.

    You don’t have to start buying thousand-dollar accessories for your home. But you can start to think of things that you thought were expensive as being more affordable, more within reach.

    How A Wealth Mindset Readjusts Your Income Scale

    Think about how you view wealth. What do you consider a low income? Middle income? High income? Most people think of six figures (even 100,000) to be high income and unattainable. Now consider why you have this income scale in your mind.

    I remember a friend of mine once said she was in the high-income bracket because she cleared $100K. To her, $100K was the upper end of the income bracket for people. Many would agree with her. I once read an article about how “most people” can’t afford a house in Vancouver. They also say you should expect to be thousands of dollars in debt after college.

    These types of thoughts adjust your income scale in your mind in a certain way. Being in debt from buying a $800K house, or in debt from college means you expect to be only generating so much income from your career, your business, your investments, etc.

    Retrain your brain. Set your goals higher. Redefine what you think of as your middle-income goal. Your high income goal. Why should a high income be just $100K? Why not $500K? Why not a million? Set higher goals for yourself, and your perception of wealth will change too.

    For example, yes, you could be in debt when you first start a business. But eventually abundance will find you and you will find the income you are looking for. Tell yourself you can afford luxuries. You deserve it. You deserve abundance, whether that wealth means more money, more free time, better health, or achieving your dreams.

    And one day, when you see a PieCaken holiday dessert, “one cinnamon buttercream-encased package” you’ll say, “$99? I’ll take it. Looks delicious.” Like they say, in Robb Report, “It’s the perfect confection for those among us who simply don’t want to choose just one dessert.”

    Summary

    Developing a wealth mindset is an important first step in your road to success as an entrepreneur. Reading magazines like Robb Report will retrain your brain to visualize wealth – abundance – as an attainable goal. You will tear down mental walls and redefine what you think is possible.

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