Teachers Have An Identity Crisis

I had promised you an article for Monday, January 10, which would explain the link between business and teaching – fear not you will get that article in your mailbox tomorrow – consider this article a bonus.

Many teachers have an identity crisis. When asked what they do for a living, most teachers will answer that they teach a certain grade level or a particular subject or a combination of the two. They fail to understand that they do more than teach (I’m not referring to the idea that some people have about teachers; they say that they did more than teach in the classroom – they are also social workers, nutritionists, police officers, etc.).

Teachers have transferable skills that they often fail to identify. My friend’s wife recently retired  from teaching. My friend had been a teacher many years ago; he is now  in upper management with a government agency. His wife asked him if there were any secretarial jobs that she could do at his place of employment. He got upset with her, because she didn’t seem to understand that she had more skills to offer to an employer than secretarial skills. Please don’t misunderstand me, secretaries are the backbone of many enterprises. My friend was trying to make his wife understand that she had to have a hard look at what skills she used in the classroom, because they are easily transferable to the business world.

The reason that I told you this story is to make you understand that you have a lot to offer. You are more than ‘just a teacher’. I want you to make a list of all the skills that you use in your teaching practice. How many are transferable to other areas or activities? How many of those skills can you use to create an online teaching enterprise? Take your time making your list, but as you write things down imagine the possibilities.

 

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Teachers Put More Money In Your Jeans

It amazes me that there are many teachers that work part time jobs after school or on weekends with the belief that they are getting ahead financially. Teachers, you have to realize that as an employee, the more you make, the more you have to pay in taxes. Those of you that work two jobs often dread payday, because you get to see how much you must pay in taxes to the government. When all is said and done, you actually wonder if it is worth  putting in extra hours at your part time job after having spent the better part of the day teaching.

Is there a better way? Yes, entrepreneurs tend to keep more money in their jeans, because they are allowed more tax advantages than employees (*depending on the tax laws of your jurisdiction*). They are usually allowed to write off many expenses that allow them to generate business income. Imagine being able to write off a portion of your rent or your mortgage, because you are running a business from your home. Imagine writing off your computer equipment and software, because you are using it to generate business income. Imagine writing off your vehicle’s expenses, because you are using it to generate business income. The list is endless; however it is best to consult an accountant who is well versed in small business tax so that you have an accurate picture of what expenses can be deducted against business income. In short, from a tax point of view it is better to be an entrepreneur than an employee.

As I am writing this article, I can picture you thinking that you do not have an entrepreneurial bone in your body. Teaching is not so far removed from business, and I will prove it to you in my next article on Monday, January 10, 2011.

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How Many Teachers Work A Second Job?

At my school, 25% of the educators (5 of 20 teachers) either work part time or run a business after school hours. They do this for a variety of reasons:

  • One is nearing retirement and is looking for ways to supplement her measly pension.
  • One is in her mid – thirties; she has come to the realization that the demands of her job are not conducive to a healthy family life.
  • One teaches part time so that he can invest for his retirement.
  • One is relatively new to the profession and can’t afford to live on what a first year teacher makes. She is self employed; tutoring students after school so that she can supplement her pay.
  • One is looking to get out of teaching (actually get out of the education system) completely. This teacher sees the potential that the internet offers in reaching a worldwide audience, which could lead to a substantial income.

What is interesting about these teachers is that four out of five members of this group are business owners. Do they know something about making dough from what they know, that the part time worker does not? Stay tuned to get the answer this Friday.

 

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