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August 12 2022 2:31 PM ˚
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Expanding beyond self-employement

Deeb Aqabani
Deeb H. Aqabani is a professional accountant, auditor and business expert and has acquired a diversified professional experience in finance, accounting, and consulting of over 25 years in Jordan and Australia. He taught at the University of Sydney and Macquarie University as well as TAFE NSW Australia.
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Self-employment may help one earn enough to cover one’s expenses and help one enjoy a reasonably comfortable lifestyle.

I am very cynical about most self-employment arrangements, however, as most oblige the owner to spend an obscene amount of time managing and operating the business, to the extent that he or she does not have much time to think beyond operations and move to develop the business.اضافة اعلان

A self-employed person, to me, is just an employee who works hard and long hours without having much time to reflect or develop a proper business; adding to the misery, that person cannot even have the luxury to relax or enjoy quiet time a normal employee does after working hours.

A self-employed person’s mind keeps working long after leaving work because at stake is his or her own business, while a normal employee can forget everything about his work the moment he or she leaves his or her desk.
If, however, a self-employment business is set up as a proper small or medium enterprise (SME), it might work. Crucial to making it work is a change in the mindset of the owner.

During the many years I worked with self-employed people and SME owners, I came to realize that the mindset of the owner makes a major difference to the success and development of a business.

While self-employed people believe they must do almost everything themselves to make sure the output they deliver is at an acceptable level, SME owners delegate to others and put in place structures and controls to make sure work is delivered at an excellent level.

SME owners realize that they run businesses just like larger, corporate, businesses, except for the size and the available resources, and so work to ensure the success of their businesses, including through marketing, sales and human resources.

They also develop and test their business model, and keep on adjusting it to further the success of their business.

Self-employed people may be limited in their way of thinking, using only their personal resources and time, while SME owners strive to find and tap into other resources and leverage by using other people’s time and money.

Self-employed people need to work to develop their businesses. Many businesses start as a self-employment arrangement and then develop into SMEs or even large corporations. It all depends on one’s mindset and desire to change and progress.

Deeb H. Aqabani is a professional accountant, auditor and business expert and has acquired a diversified professional experience in finance, accounting, and consulting of over 25 years in Jordan and Australia. He taught at the University of Sydney and Macquarie University as well as TAFE NSW Australia. 

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