Money! What can we learn from our sisters in Nigeria?
| Image taken from accountancyage.com |
Following on from introduction to "Money! What can we learn from our sisters in Nigeria?", here is the first topic to be addressed. Please let us know your thoughts! You will be pleased to know we have started with income sources:
1. INCOME:
SALARY
Of course the most popular source of income if you are in the UK is likely to be your salary. In many cases this is the biggest source of income or the only one. I'm going to talk you through 3 general routes to increasing your salary: 1, The Upwards move, 2, The Sidestep and 3, The Doubler!
The Upwards Move
Have you ever considered moving up in the company you are? Yes you probably have said to yourself you can do the job of your boss but that's not what I'm talking about. Have you considered how to get there?
Well first of all you need to take an honest look at what you do and what your job description says you should be doing. Most employees either underachieve or overwork themselves, so if you are an underachiever, step up. If you are overworking, do the right people know. Chances are you have not automatically gotten a raise because either the right people know and are getting extra work from you at a discount so decided not to say anything until you say something. Or, the right people do not know. Sometimes we Nigerian women in the UK have a habit of being too humble and not speaking up or down right bragging/complaining about the amount of work we are doing, whilst our counterparts from other nations have become experts in this. So if you work more than you job description, sing it loud and sing it proud!!!
The Sidestep
Sometimes there is no room to move up, no matter how much value you add the company does not have the money to pay you for this or they maybe are biased and don't want to.
Have you ever thought, your hard work and experience may be valued elsewhere? The truth of the matter is the majority of promotions and salary rises in the UK for the past few years have not come from staying in the same company but by applying for roles at a competitor company or another industry that utilises the same skills. So if you were thinking of this as a route you are in the majroity. The good news is this means you are not alone, the bad news is . . . this means you are not alone! So you will have to compete. To find out how to set yourself apart from the competition and make that bold move, register for our seminar at the end of this year by filling this survey: Click here to take survey
The Doubler!
Well as the name implies, you double up! Ever seen on TV those kids who proudly confess they appreciate their mama who had to work two jobs just to pay the bills? Well, why not get a second salaried job to increase savings instead? Yes you may hear people saying it is hard to get a job in this economy, but for the most part this is true for professional jobs. Taking on an unskilled job to provide for yourself and your family may be the help you need! Example jobs that can fit around your current job: cleaning an office early morning or late night, becoming a postlady, working a seasonal job as a sales assistant during your annual leave. Of course this will be a whole lot more stress, but as minimum wages are £6.19 per hour, adding morning shifts of 10 hours per week would equate to an extra pre-tax salary of £3.5k per annum, adding weekend sales work of 14 hours per week would add £4.5k per annum. Worth considering even if only for a short term solution right?
SELF-EMPLOYMENT
Self-employment or entrepreneurship can be done alongside a full-time salaried role or in place of it. Self-employment is particularly common for accountants, IT professionals, doctors, tailors, caterers, construction project managers and other sectors, but there is no reason your skills cannot be marketed even if your current jobs is not the stereotypical type that is often made into a self-employed role. In the UK we are blessed with an abundance of help, the problem is knowing where the help is and opportunity. Grow and sell your own crops. You could buy a franchise and banks are often willing to lend because of the proven business models. You could sell Avon products or Usbourne children's books. You could work from home or partner with someone through networking groups or through forming a cooperative. This is an option that is often taken up by our sisters across the Atlantic in good old Naija, being themselves often business-savvy, but even more than this, having the opportunity and networks to grow their businesses well. Come see some of the techniques they utilise by registering register for our seminar at the end of this year. You can do this by filling this survey: Click here to take survey
BONUSES/COMMISSIONS
Well that marks the end of our first post on money. What are your views and opinions? Feedback is welcomed by posting a comment below. If you did not catch the multiple references already in this text. The most voted for event in a previous survey was for business start up opportunities and career sessions/seminars/networking opportunities. Money and fulfillment do matter and you bringing in more income will affect you and your family, hopefully, if done well, positively! The business event I am organising will be a family event, so husbands/fiances and children are welcome also, as it will affect them too. So to find out how your sisters are making it, register for our seminar at the end of this year. You can do this by filling this survey: Click here to take survey
Hugs and kisses
Ella
