Business Monitor
their earnings to double within five years of taking the leap. Thatʼs not just good news for them, itʼs good news for their potential suppliers. The new study, in association with the Centre for Economic and Business Research (CEBR) and Samsung UK, revealed that so-called funtrepreneurs can expect to earn £22,594 on average in their first year of work, with the figure rising to £33,845 within five years.
Indeed, it was discovered that passionate entrepreneurs currently contribute around £165bn to the economy, based on wages, taxes and profits, with this figure expected to rise to £228bn within five years, so fun is good for all of us.
Funtrepreneurs are commercial animals.
These are not a bunch of hippies living in yurts and waiting for the sun to rise at the summer solstice. Instead they are aiming to build a successful business in a sector that satisfies them, gives them personal fulfilment and, yes, potential personal wealth.
impossible. Most people canʼt visualise alternative ideas and they tend to feel embarrassed about admitting it. Do it on the computer right in front of them, for which you should aim to bring them to your premises (always the best place to sell). Then you can show them the power of stronger colour combinations than used in their logo or the impact that is achieved by big, big statements on clothing. Consistency in branding is a good marketing principle, but it doesnʼt have to be so rigid that it prevents effectiveness.
Selling tools
Are you (or a staff member) a good amateur photographer? Plenty of people are and would love to turn that enthusiasm into a commercial benefit to themselves and their business/employer. I have personally known three people who went down the photography route to become a funtrepreneur. One is a childrenʼs portrait photographer; another shoots room sets for the proliferation of glossy colour county life style magazines: the third is a wedding photographer. A printwear business with its own in-house photographer would be a mile ahead of the competition if part of the deal was a good quality set of shots for the business client to use as PR/ website/
| 22 | October 2016
brochure material. In the process youʼd also have a great selling tool for your own business.
The same principle applies to artistic skills. Actually, it applies a lot more because almost everybody can work a camera (even if poorly), but few people can draw. Again, if someone in your business can, say, draw pen and ink caricatures, boy, do you have a sales proposition. That would be a genuine value-added offer which they canʼt get from the competition. Iʼd definitely charge for that skill. What about hand painted and hand printed? Create a series of shirts that are limited editions. Create them to sell yourselves and offer the service to local artists, galleries and shops. Who knows? The 21st centuryʼs JMW Turner or John Constable might live in your town – much better than a pension plan.
Passionate workers
More of the workforce than ever before are leaving jobs to pursue careers theyʼre passionate about, with 12% of Britons now considered to be funtrepreneurs. I would call that a pretty large business sector. According to the results of a recent
YouGov poll, individuals who choose passionate careers have an increased job satisfaction of 84%, and can expect
Polling over 2,000 UK working adults in July 2016, YouGov found that millennials were more likely to leave their job in favour of more fulfilling work than any other demographic. Nearly a quarter of 18 to 34 year-olds said they were preparing for a change, compared to just two per cent of workers aged 55 and over. I am actually surprised at that last statistic. I would have thought that the Saga generation would have been keen on this opportunity. It would give them a purpose after age 65 which a lot of them lack and they are part of the nationʼs largest demographic group. Watch that space would be my recommendation. Throughout Britain, women were found to be slightly more likely than men to turn their passion into a business venture, while as many as 15% of Londoners have done so – a greater proportion than anywhere else in the UK.
Senior CEBR economist Alasdair Cavalla said that the figures provided a clear indication of greater risk-taking among UK workers. “Many dynamic micro businesses may never have been set up were it not for people taking this risk to pursue work they care about.
“The economic benefits donʼt stop at the founding of the business,” Mr Cavalla added. “Compared to whole-economy averages, we found clear evidence of fewer sick days, higher productivity and greater job satisfaction among people following their passion.”
The research suggested that workers boost creativity by up to 63% once becoming funtrepreneurs, while focus improves by 59% as a result of pursuing a passion.
It was recently revealed the extent to which younger people were choosing to put entrepreneurial plans into action at the expense of safer, more traditional career paths – the number of under-35s starting new businesses in 2016 is 70% higher than in 2007.
Of the industries that young
funtreprenuers are most passionate about getting into, blogging and vlogging are considered an increasingly viable option, while technology and retail remain popular sectors. The rule of thumb if you aim to recruit millennials is, aim for the heart, not the wallet.
www.printwearandpromotion.co.uk
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