Futureproof your Freelance Business

by | May 23, 2022 | News & Events

by | May 23, 2022 | News & Events

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Describing himself as a “born villager at heart,” Shadrack Kubyane used an analogy learnt on bamboo/vegetable farms in China, to describe the growth of a business. The key is the 80/20 principle, whereby one focuses on short-term and long-term goals at the same time. The smaller, short-term side of the business (the “vegetables”) will sustain you while you are waiting for the big payday from the larger but slower-growing side (the “bamboo”).

Using the 80/20 principle, you take stock of the following:

  • Where is your focus? Are the right priorities in the right places? 80% of revenue should come from 20% of routines and activities.
  • Which relationships drain you and which build you? Beware of the time vampires, and those who are a thorn in your side. “The loudest boos come from the cheapest stands.”

Where are you investing your energy? We become what we do most, so make sure 80% of what you do is beneficial.

Audit your business regularly

This allows you not only to keep track of your finances, but also to direct what you do.

  • Find the balance – Maintain your current income stream but keep working on the long-term plan.
  • Vital communities – Choose your company wisely, in all respects – from both inside and outside your business.
  • Vital places – Networks are your key to growth, so put yourself in the right communities.

Futureproof yourself by paying attention to the 80/20 principle. Nurture the business activity that will yield long-term returns, and continue to innovate and develop. Just as you cannot take care of your children forever, you cannot carry your business on your back – eventually, it must take care of you.

Gauteng North and -South hosted a webinar where Shadrack addressed Safreans nationally.