Most employment today is self employment - as a contractor or business owner. Even contractors need a business mindset to appreciate their place in the commercial world and have a successful career.
Scope of Business
The possibilities for work in the business world are unlimited; but to be successful you need to be measured in preparation and risk-taking.
People working in business can be owner-operators, employees, or have partner-employee agreements. This means that work includes more than just producing goods or services. It can involve everything from managerial work and project management to bookkeeping, sales, marketing, retail, and more.
Most employees work set or regular hours; owner-operators may have more flexible schedules.
Sectors within Business
The world of business can be sub divided in different ways:
- According to what is being sold
Most businesses primarily provide "products" or "services".
Products can be "primary production" e.g. harvested from farms or nature, or mined from the ground. Alternatively it can involve manufacturing things from raw products.
Services may be provided to individuals or to other enterprises (public or private)
- According to what is being managed
Work roles in a business commonly focus on a scope of activity. These include marketing, administration, finance, service/product provision.
- According to Industry
The economies of modern society are commonly divided into a series of industries. These include such things as Agriculture, Education, Manufacturing, Transport, Security (Defence/Police), Health, Tourism, Construction, Hospitality, Environment, Media, and more.
THINK OUTSIDE THE BOX
There is significant overlap between the different areas and sectors of business.
When considering coaching as a career, don’t be too rigid in your thinking.
It's inevitable today that most people change jobs and career paths at least a few time during their working life. In a changeable world.
The business world will always offer good job opportunities, but the opportunities in high demand can change from year to year. If you want to progress in a business, you need to be aware of industry trends and developments; and new opportunities as they arise. Be prepared to move around within the industry, and to gather experience in new and unusual ways. In business, the path isn't always a ladder -- sometimes you need to go sideways to get ahead.
Example:
If you succeed, learn, and gain experience in marketing within one industry, your expertise can be taken to another industry. If you're an agriculture marketing expert, you could move into health marketing if the agriculture industry becomes depressed but health is booming.
As a career develops, there may be times when the best way forward is to become a consultant, start your own business, or move into contracting (working from project-to-project).
