Are you getting failure in your career? Yes! Don’t worry you have an easy solution and it is, to commercialize yourself. Some of you may confuse about the commercialization of life. Yes of course. Commerce has a great impact on our life. The difference is that it goes slowly in life and we get filled with emotion. Let us understand with an example. Suppose you are doing a business where you only have one customer. What will you think? You would be much more emotional than in your personal life. You will do everything to retain him in your business. The same thing happens in life where we have limited resources and where we do fulfill with emotions.
Career is a product, acquired and developed by us to run our livelihood:
At an early age, especially in college days, we do normally have a goal for our career. Some of us want to be doctors, some of us want to be engineers, and government jobs like IAS, and PCS.
No doubt if you want to be an engineer you will do everything to become an engineer and one thing note that with your parent’s money. Sometimes later if you do not get success in your career your parents will stop the help and it would be the time when you will realize your failure.
In other cases, you are preparing for competitive exams like IAS, and PCS and you are not getting selected despite so much study.
You might be frustrated, confused, and depressed. If you are feeling all of these I cannot say that you are a fool but cannot consider you intelligent. It all happens because you do not think prudently about your career. You might mind me but you need to understand that suppose someone asks you a simple question, “Why are you not getting success in your career?” No doubt you will answer him quickly, “There is so much competition.” Or you will give a diplomatic answer, “It is a national level exam; so many candidates apply for it, only a few people are selected there or the passing percentage is very few.”
Anyway one thing still you realize and that is competition. And you know that competition is a very usual word in business even if you ask an illiterate man to do business he will ask, “how much competition is in this business?.”
Now you have only one solution and that is the following –
Commercialize yourself –
Commercial activities are a systematic way to do any economic activities to earn profit. When we talk about commerce or business, the statement does not complete without SWOT analysis, ROI and competition. All of these are fundamentals of commerce. Now let us understand it in detail –
SWOT Analysis – SWOT analysis measures the position of a business in a related industry. Where is,
S = Strength
W= Weakness
O=Opportunity
T= Threats
Where we analyze the strengths, and weaknesses of our business unit and opportunity and threats in the business environment. So that we could make a strategy to gain the business opportunity and improve our weaknesses the safeguard from potential threats.
ROI Analysis – ROI analysis is meant to see a real profit for the investment which is being made in a particular business unit or portfolio.
Where ROI means, “Return on Investment.” And we know for calculating the ROI, there are two basic factors: TIME and MONEY.
Competition – We all are well aware of it, only the difference is that we have different – different approaches to it. For analyzing competition, there is a model given by Mr. Porter, “Porter’s five forces model/framework .” Which include five components – 1) Industry rivalry, 2) Threats of new entrants, 3) Threats of substitutes, 4) Bargaining power of suppliers, and 5) Bargaining power of buyers.
Now Let us commercialize yourself –
You = Investor/Promoter (who are investing time and money in the career)
Career = Business Products (it is a product for livelihood, which you want to gain)
What to do while getting failure – You should analyze SWOT and calculate ROI. Analyze Porter’s five forces for a particular career.
And finally do R&D (Research and Development) which is the backbone of the business.
Let us do this –
Step 1 – Analyze Porter’s five forces model – it will give you an exact glimpse of a particular career in the current environment like existing competition, the possibility of a new entrance, substitutes of that career, bargaining power of the supplier ( your parent’s financial position and their interest in your current career), bargaining power of your buyers ( Ultimately your buyer is your wife, please note that some people complain about the marriage. They are not getting married because of a bad or low-income career. You should analyze, what type of girl, you can find with your current career)
Step 2 – SWOT Analysis – where you will analyze your weakness and strength and opportunity and threats in your current career. So that you could determine whether you are compatible with that career or not.
Step 3 – ROI Analysis – Through this analysis you should see your Time and Money investment for your current career and should see the return of the same Time and Money in the alternate career.
Step 4 – R & D (Research and Development) – And finally you are in a situation where you will have to choose an alternate career then don’t forget to do R&D for your alternate career so that you could get the best career alternative because you have already lost your one Products.
***And finally best wishes for your career***