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How To Build A Team When You Haven’t Got The Income To Support Yourself

How To Build A Team When You Haven’t Got The Income To Support Yourself

It’s frustrating. You spend an eternity at the computer into the wee hours of the morning, and still you never seem to get through a fraction of what you need to do to get your business really rocking. All those hopes and dreams and exciting plans … all pushed to the back burner whilst you try like crazy just to get through your to-do list.

Working in isolation on something, whether it’s your own business, your Plan B or a work project, can be one of the most difficult things to do. Everything is on you. If you get stuck you’re the only one who can deal with it. If you have a mountain of tasks, you just have to settle in and do it all yourself, all the while keeping focused on the big picture, which is very difficult to do.

Frankly, it’s exhausting.

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Time to Do Something Differently

So, you’ve decided you need to get a team around you, which is great in principle, but it’s back to the age-old problem: you haven’t got the money to pay them. Heck, most people in your situation barely have the cash to pay themselves, let alone another person!

You’re not alone in this dilemma.

Like most people with budding projects, you know that if you could just bring in some additional help, you could accomplish several times what you’re already doing. Without the resources, you’re stuck between a rock and a hard place, though.

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There is a way around this, and when you understand a few important principles it all becomes a much easier problem to solve. The first sticking-point you need to tackle is your own ideas about your project and your personal involvement.

I get it. It’s your baby. Your idea. A symbol of everything you stand for, and hopefully also of some reward at the end of the hard work. However, having to control everything to the nth degree is only ever going to perpetuate the bottleneck you’re already experiencing. Shift your perception and constantly remind yourself to hand off input to the individuals you bring in to help you. If you can do this whilst taking overall responsibility for the project, you’ll automatically open up that bottleneck and give people the environment to thrive and over-deliver.

(Note: This also means you’ve got to give up being a perfectionist. Perfectionism and over-control only ever destroy a team’s motivation and consequently the amount of effort they’ll put in. Let it go. The success of your project depends on it.)

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The second shift you need to make is in understanding other people’s motivations.

It’s Not About the Money

When looking to bring new skills into a project, most people assume it’s all about the money. If you only had money, you could persuade someone talented and skilled to come in and help. If you only had the cash, there would be options to shift some of the admin or book-keeping off your plate.

When someone takes a job, they normally do it for the money.

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However, when someone joins a team, they do it for other motivating factors. It fulfills other needs, like the need to be useful, to contribute beyond themselves. People love to be a part of something, and to be around others with similar ideas to them — or even better, to be led by someone with a vision.

When you truly understand other people’s motivations, you realize that you don’t necessarily have to pay people money in order to motivate them to help you. However, this does mean that your vision for your project has to be something more inspiring and meaningful than just paying your own bills. If that’s all it is for you at the moment, get a bigger vision or go and do something else.

OK, so now we understand the two basic components in involving people and taking cash out of the equation, let’s look at some tangible methods you can use to build your team when you’ve barely got the cash to pay yourself…

Finding Good Team Members Without the Price Tag

  1. The first thing you need to do is focus your own talents on what you find easy. This way you’ll remain in flow and passionate about what you’re working on. Your energy will be contagious!
  2. The next thing is to get others involved to do the tasks that aren’t in your natural flow. You can often do this by arranging a skill swap with someone. Say for instance you hate admin: if you can swap the admin with someone who loves doing it, in exchange for helping them with their networking, marketing, or whatever, then you both get to do the things you like whilst simultaneously making progress on your respective projects. This doesn’t work once your business reaches a certain size because each project will require more time and focus, but it’s a great stop-gap whilst you’re getting going.
  3. The biggest drain on project leaders (and therefore the first thing they should get rid of) is administration and book-keeping. If you can afford a small amount of outlay, it is well worth investing it to free up your time. Great value for money can be found when you work with stay-at-home moms, or students, who are happy to do these little jobs for a few hours a week.
  4. The next hurdle people struggle with is bringing in technical help. Again, this can be done very cost effectively by working with computing students, or tech-savvy friends or family members (even if they aren’t IT professionals) with whom you can agree a low retainer for doing things like maintaining your website and email list. The retainer system works really well because the amount of help you need may vary from month to month, but if you’re paying for someone to be involved and help you, they’re more likely to think of themselves as part of your team and go the extra mile. What’s more, you’re more likely to ask for their input about the best way to do things, which helps you make more informed decisions.
  5. Profit sharing is another way to reward people for their involvement. Often side projects take a while to monetize, and so there isn’t the much-needed cash to get things moving in the early days. If your potential team members are open to being involved in return for a cut of the profits as the project comes to fruition, this would be a good arrangement in some cases.
  6. Reaching out to your network is also an excellent way to connect with like-minded people who are willing to get involved in the right project. Reconnect with people you haven’t been in touch with for a while. Post a message on Facebook talking about what you’re looking to do and what you need. Ask people who have lots of connections if they know of someone for a specific task or role. You’ll be surprised at who they can connect you with.

So, there you have it. These are the kinds of things anyone can do at any stage of a project — but they work particularly well when you’re operating on a shoe-string budget. Remember: let go of wanting to control everything. Get a big vision and then focus on fulfilling what others are looking for. You will have people helping you, forming a team in no time … without a massive cash layout.

More by this author

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Last Updated on April 6, 2020

How to Make a Career Change at 50 for Great Opportunities

How to Make a Career Change at 50 for Great Opportunities

Turning 50 is a milestone in anyone’s life, after all you are half way to 100! But seriously, turning 50 is often a time in life when people can sit back and take a look at where they’ve been and contemplate what the future holds.

Can you change careers at 50? It’s not uncommon for people in their 50’s to consider a career change, after all if you’ve spent 20 to 30 years in a career, chances are that some of the bloom is off the rose.

Often, when we are starting out in our 20’s, we choose a career path based on factors that are no longer relevant to us in our 50’s. Things like our parents’ expectations, a fast paced exciting lifestyle or the lure of making a lot of money can all be motivating factors in our 20’s.

But in our 50’s, those have given way to other priorities. Things like the desire to spend more time with family and friends, a slower paced less stressful lifestyle, the need to care for a sick spouse or elderly parents can all contribute to wanting a career change in your 50’s.

Just like any big life changing event, changing careers is scary. The good news is that just like most things we are scared of, the fear is mostly in our own head.

Understanding how to go about a career change at 50 and what you can expect should help reduce the anxiety and fear of the unknown.

What are Your Goals for a Career Change?

As in any endeavor, having properly defined goals will help you to determine the best path to take.

What are you looking for in a new career? Choosing a slower less stressful position that gives you more time with family and friends may sound ideal, but you’ll often find that you’re giving up some income and job satisfaction in the process.

Conversely, if your goal is to quit a job that is sucking the life from your soul to pursue a lifelong passion. You might be trading quality time with family and friends for job satisfaction.

Neither decision is wrong or bad, you just need to be aware of the potential pitfalls of any decision you make.

Types of Career Changes at 50+

There are four main types of career changes that people make in their 50’s. Each type has it’s unique set of challenges and will very in the degree of preparation required to make the change.

Industry Career Change

In this career change, a person remains in the same field but switches industries.

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With an industry change, a person takes their set of skills and applies them to an industry that they have no previous experience in.

An example would be a salesperson in the oil and gas industry becoming a salesperson for a media (advertising) company. They are taking their skill set (selling) and applying it to a different industry (media).

This type of career change is best accomplished by doing a lot of homework on the industry you want to get into as well as networking within the industry.

Functional Career Change

A functional career change would be a change of careers within the same industry.

For example, an accountant at a pharmaceutical company who changes careers to become a human resources manager. It may or may not be with the same company, but they remain within the pharmaceutical industry. In this case, they are leaving one set of skills behind (accounting) to develop a new set (human resource) within the same industry.

In a functional career change, new or additional training as well as certifications may be required in order to make the switch. If you are considering a functional career change, you can start by getting any training or certifications needed either online, through trade associations or at your local community college.

Double Career Change

This is the most challenging career change of all. A person doing a double career change is switching both a career and an industry.

An example of a double change would be an airline pilot quitting to pursue their dream of producing rock music. In that case, they are leaving both the aviation industry and a specific skill set (piloting) for a completely unrelated industry and career.

When considering a double career change, start preparing by getting any needed training or certifications first. Then you can get your foot in the door by taking an apprenticeship or part time job.

With a double change, it’s not uncommon to have to start out at the bottom as you are asking an employer to take a chance on someone without any experience or work history in the industry.

Entrepreneurial Career Change

Probably one of the most common career changes made by people in their 50’s is the entrepreneurial career change.

After 20 to 30 years of working for “Corporate America”, a lot of people become disillusioned with the monotony, politics and inefficiency of the corporate world. Many of us dream of having our own business and being our own boss.

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By this time in our life, we have saved some money and the financial pressures we had with young children have passed; so it’s a perfect time to spread our entrepreneurial wings.

Entrepreneurial career changes can be within the same industry and using your existing knowledge and contacts to start a similar business competing within the same industry. Or it can be completely unrelated to your former industry and based on personal interests, passions or hobbies.

A good example would be someone who played golf as a hobby starting an affiliate marketing website selling golf clubs. If you are considering an entrepreneurial career change, there are a lot of very good free resources available on the internet. Just be sure to do your homework.

Practical Tips on Making a Career Change at 50+

So you’ve decided to take the plunge and make a career switch in your 50’s. No matter what your reasons or what type of a career change you are embarking on, here are some helpful hints to make the transition easier:

1. Deal with the Fear

As stated earlier, any big life change comes with both fear and anxiety. Things never seem to go as smoothly as planned, you will always have bumps and roadblocks along the way. By recognizing this and even planning for it, you are less likely to let these issues derail your progress.

If you find yourself becoming discouraged by all of the stumbling blocks, there are always resources to help. Contacting a career coach is a good place to start, they can help you with an overall strategy for your career change as well as the interview and hiring process, resume writing / updating and more. Just Google “Career Coach” for your options.

I also recommend using the services of a professional counselor or therapist to help deal with the stress and anxiety of this major life event.

It’s always good to have an unbiased third party to help you work through the problems that inevitably arise.

2. Know Your “Why”

It’s important that you have a clear understanding of the “why” you are making this career change. Is it to have more free time, reduce stress, follow a passion or be your own boss?

Having a clear understanding of you personal “why” will influence every decision in this process. Knowing your “why” and keeping it in mind also serves as a motivator to help you reach your goals.

3. Be Realistic

Take an inventory of both your strengths and weaknesses. Are your organizational skills less than stellar? Then, becoming a wedding planner is probably not a good idea.

This is an area where having honest outside input can be really helpful. Most of us are not very good at accurately assessing our abilities. It’s a universal human trait to exaggerate our abilities while diminishing our weaknesses.

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Requesting honest feedback from friends and co-workers is a good place to start, but this is another area where a career coach can come in handy.

4. Consider an Ad-Vocation

Sometimes, making a career change all at once is just too big of a change. Issues like a severely reduced income, geography and lack of benefits can all be impediments to your career change. In those cases, you may want to start your new career as an ad-vocation.

An ad-vocation is a second or ad-on vocation in addition to your primary vocation. Things like a part-time job, consulting or even a side business can all be ad-vocations.

The benefit of having an ad-vocation is being able to build experience a reputation and contacts in the new field while maintaining all the benefits of your current job.

5. Update Your Skills

Whether it means acquiring new certifications or going back to school to get your cosmetology licence, having the right training is the foundation for a successful career change.

The great thing about changing careers now is that almost any training or certifications needed can be free or at very little cost online. Check with trade associations, industry websites and discussion groups for any requirements you may need.

Learn How to Cultivate Continuous Learning to Stay Competitive.

6. Start Re-Branding Yourself Now

Use the internet and social media to change the way you present yourself online.

Changing your LinkedIn profile is a good way to show prospective employers that you are serious about a career change.

Joining Facebook groups, trade associations and discussion boards as well as attending conventions is a great way to start building a network while you learn.

Here’re some Personal Branding Basics You Need to Know for Career Success.

7. Overhaul Your Resume

Most of us have heard the advice to update our resume every six months, and most of us promptly ignore that advice and only update our resume when we need it.

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When making a career change, updating is not enough; this calls for a complete overhaul of your resume. Chances are that your current resume was designed around your old career which may or may not apply to your new goals.

Crafting a new resume emphasizing your strengths for the new position your looking for is key. There are many places that will help you craft a resume online and it is a service included with most career coaching services.

8. Know Your Timeline

There are a lot of factors when it comes to how long it will take to make the career change.

Industry and Functional career changes tend to be the easiest to do and therefore can be accomplished in the shortest period of time. While the Double Career Change and the Entrepreneurial Career Change both require more effort and thus time.

There are also personal factors involved in the time it will take to switch careers.

Generally speaking the more you are willing to be flexible with both compensation and geography, the shorter time it will take to make the switch.

Final Thoughts

Changing careers at anytime can be stressful, but for those of us who are 50 or above, it can seem to be an overwhelming task fraught with pitfalls and self doubt.

Prospective employers know the benefits that come with more mature employees. Things like a wealth of experience, a proven work history and deeper understanding of corporate culture are all things that older workers bring to the table.

And while the younger generation may possess better computer or technical skills than us, if you’re willing to learn, there are a ton of free or nearly free resources available to you.

Deciding on a career change at 50 is a great way to experience life on your own terms.

More Tips for Career Change

Featured photo credit: rawpixel via unsplash.com

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