Commercial Paper: A Primer
In the previous articles, we have discussed that the money market has various sub-sections. One of the most important sub-markets is the commercial paper market. The commercial paper market accounts for a sizeable amount of funds that flow through the money market. In this article, we will have a closer look at the details of […]
Problems Faced by Less Developed Countries
Population Growth Among all the developing countries, population growth remains one of the reasons for these countries to remain poor. To take specific examples, both India and China have historically been among the poorer countries because of their huge populations. It was only after the economic liberalisation and opening up of their respective economies that […]
Is Automation Making Customer Service Better or Worse?
How Does Automation of the Customer Service Function Impact the Customers? Log into any customer service portal and, chances are that you would come across what is known as bot that responds to you and engages you in providing answers and solutions to your questions and problems. Even when the customer calls the IVR or […]
Marketing Strategy – Meaning and Its Importance
What is Marketing Strategy ? Marketing strategy is the comprehensive plan formulated particularly for achieving the marketing objectives of the organization. It provides a blueprint for attaining these marketing objectives. It is the building block of a marketing plan. It is designed after detailed marketing research. A marketing strategy helps an organization to concentrate it’s […]
Response in Consumer Sector
In consumer sector, suppliers most probably come in contact with distributors or middle-men rather than directly to customers. For them, distributors are the actual customers and had to be in contact with them at all the business stages. The direct contact with customer happens very rarely and only in extraordinary situations like extreme complaint or […]
There are numerous opportunities to make money online and there are an equally large segment of professionals, freelancers, stay at home persons, retired personnel, and students vying for these opportunities.
Indeed, a simple Google search for making money online would throw up millions of results with the results showing everything from simple task-based jobs to complicated and complex trading and research jobs.
So, how does one go about deciding and determining which opportunities to pursue and which schemes to avoid as well as positioning oneself and making the most of such opportunities?
The answers to such questions depend on the kind of opportunity that you would like to pursue based on your skill set, risk taking abilities, the time you can devote to the jobs, and above all, your mindset and attitude that are perhaps the most important determinant in generating money online.
Indeed, attitude and mindset are critical and crucial in any job and especially so when pursuing opportunities where you are on your own and where the most important point is that success and failure are determined by your personality and the whole set of beliefs, thoughts, feelings, and attitudes that you bring to the table.
To start with, let us examine the case of a professional who has quit his or her corporate job to pursue opportunities online. Such professionals by virtue of having worked in a full-time job know the importance of time management, motivation, the value of hard work, and the skills that are required for different jobs.
Having said that, this by itself does not guarantee success as they would have to make the “mindset change” from working for an organization to working for an employer who does not have any obligation towards them.
For instance, professionals in full-time jobs can pace their work and expect to be retained in the job even if their performance dips during a quarter or a year. Indeed, most corporates place the non-performers on watch, and after giving them a chance to improve their performance, they then take action in case of no signs of progress.
However, the situation when freelancing or making money online is qualitatively different as the websites and firms that operate online do not carry any such obligations towards their employees.
This means that professionals have to make the “switch” from full-time mindsets where they are assured and reassured to a model where they have to be always alert and watchful.
Coming to the students who are desirous of making money online, the mindset change is from a casual attitude of nonchalance to a more serious and thoughtful approach to work. Considering the fact that making money online entails a commitment to a particular task, they also should realize the importance of sticking to their word and the virtues of hard work and patience.
Indeed, students especially find themselves disappointed because they would have expected humungous returns in the initial phases itself and when such returns do not materialize, they must not give up hope and instead, soldier on till such opportunities arise. The key mindset change is that one must be a “Long Distance Runner” and not a “100 Meters Athlete” and perseverance and patience are the keys here.
In addition, they must also change their mindset from expecting to be mentored to one where they have to motivate themselves on their own.
In other words, while it is tough for relatively younger people to be not mentored and yet succeed, the whole freelancing and making money online field is such that it is a lonely and tedious journey though ultimately rewarding if one makes the needed changes to one’s mindset.
Indeed, the kind of changes that anybody who is attempting freelancing and making money online lies in patience, hard work, differentiating themselves from the competition, the ability to spend long hours applying for jobs and not expecting instant responses, and above all, a determination to succeed despite the odds.
Moreover, when pursuing opportunities online, one must keep an eye on the kind of opportunities and whether one’s skills and expertise matches such opportunities. There is no point in applying for jobs simply because all it takes is a click of a mouse as one must “fit” the desired profile that is being advertised.
Another mindset change, especially for those starting out, is the need to build a network of contacts that would be handy for sending resumes, seeking feedback, and for professional references.
While networking is the key to success in any job as all the students who have graduated from Management Institutes would have repeatedly been told during their education, there is a fundamental difference from physical networking to virtual networking where the latter is mostly building relationships with people you would not have met in person.
Lastly, the key mindset change here is that one must transition from a physical mode to a virtual mode where every interaction, every payment, every feedback, every piece of work or task you deliver, and every contact happens in cyberspace and where Skype and Phones replace in-person meetings.
If you feel that you can make this mindset change, then welcome to the world of online work that is as boring as it is exciting, as tedious as it is rewarding, and where you have the freedom to set your own hours and determine which work to accept.
Finally, you should also remember that no matter how the previous day/week/month/year went, you must get up and show up and not give up.
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Current Employment Trends and Their Implications for Business, Society, and Individuals
February 12, 2025
