You have been thinking about starting a business, but have been slow to take the leap towards entrepreneurship. Your mind is flooded with many thoughts.
Am I ready to do this, leave my secure job?
What do I know about entrepreneurship?
What if I fail?
I understand your apprehension, entrepreneurship can be daunting. There’s so much you don’t know and there is a lot of risks that you are taking. Though you hate your job, it provides you with a consistent income, even if it is not much, it is still something. You can’t lose that guaranteed income.
Then you know nothing about owning a business, the concept of entrepreneurship is foreign to you. Your grandparents were workers, your parents were workers and you have been a worker for years – so how can you possibly make the transition to entrepreneurship?
While all that may be true, entrepreneurs are made, they are not made, if that is what you believe. As long as you have an idea that is backed by demand, create a strategy on how to penetrate the marketplace, and work until you build a solid business; you can become an entrepreneur.
You still don’t believe me? You need more evidence don’t you? Well I can give you the reasons to why you should start a business immediately!
There is no Employee Loyalty
If you are constantly worried about your job, or always looking for a better opportunity, then being an employee is not working in your favorability. If you wake wishing you could go back to sleep or skip work, walk into your workplace dreading the next 8 hours, and rush to get out the door before it is time to clock out; what does that say about your job? If your manager does more yelling and demanding, rather than leading and educating, I am pretty sure you hate being an employee, but you suck it up because you need the paycheck.
Being an employee, who had to deal with a nasty work environment in order to get paid, is a thing of the past. If your job doesn’t value you, then why should you deal with their crap? Many businesses are finding it hard to retain employees because people refuse to deal with being treated less than a person. Many chose to quit and find another temporary job. Some quit the job market and find other means to make an income. And very few chose to quit and start their own business?
Choose to be among the very few, and start your own business. The only reason you choose to remain an employee is because it is all you know. Try something different for once.
We Live in a Freelance Economy
Do you notice this people who are always at Starbucks, typing away on a computer, or some other place, where plenty of sitting, outlets and food can be found? More than likely, the people you see are freelancers. And the shift towards freelancing being the occupation of choice, is steadily gaining more and more participation.
Freelancing is working for different companies or people simultaneously, rather than being employed by one person. People are choosing to be freelancers because they are dissatisfied with the workplace, like working independently, or want to better control their ability to make money. If you have a career then you were trained in a certain skill set. Even if you don’t have a career, I am sure you are talented at doing something. Why not create a business around those skills? That is what freelancers do.
Freelancing is your initial step towards business ownership. As a freelancer, you must learn how to market yourself and sell yourself If you want to make money, definitely skills required to be an entrepreneur. You also learn how to manage your money, it takes time to build up a solid clientele base. Your time management skills are also forced to improve, because unhappy clients whose work you are not completing on time, means you will need to finding new clients.
Related: How to Build the Right Startup Team
You are Wasting Your Life Away
Do you ever sit at your cubicle or behind that cash register thinking, I wish I were doing something that I actually enjoyed. It is as if your job is literally sucking the life out of you. When you go home all you do is eat and watch tv, and you repeatedly do the same routine over and over again.
What kind of existence is that? If you are not finding meaning or enjoyment in the works you do, then you are settling, rather than exploring your options. No one said that you have to work at that miserable place you call a job, you just choose to accept mediocrity.
Why not be your own boss and actually making a living doing work you enjoy? You never really thought it was an option because you were told to get a job that pays the bills and be happy with it. Oh, how self defeating that mindset is. When you actually enjoy the work you do, you tend to get more done, making work not even seem like work.
Related: The Importance of Work-Life Balance
You Literally Have a J.O.B. (just over broke)
Do you know how many people live paycheck to paycheck? How about the number of people who are the working poor? People are actually employed, but can barely afford to live, having to go without basic necessities in some cases. That is the kind of job market many have to find employment within, taking low paying jobs just to have some kind of income coming in.
Now and no way is entrepreneurship easy. You may have to become uncomfortable in order to build your business, choosing your business over personal wants, but it tends to be worth it, if you build a successful business. One of the beauties of entrepreneurship is that you control how much or how little money you make. Yes, you may work extremely long hours as an entrepreneur, but the money you earn is not a fraction passed on to you from your employer’s earnings.
You won’t strike it rich overnight becoming an entrepreneur, but with hard work, you can eventually be earning more money than when you were an employee, probably exponentially times more. You just have to determine in your mind that being broke is not an option. Once that is in your head everyday, you work hard to build a business that can provide the lifestyle you desire.
It Doesn’t Require Substantial Capital
Your lack of money available to spend freely is holding you back from starting your business. In today’s times, that is merely an excuse. Many entrepreneurs just start and improve as they grow, because procrastinating the start just means it will never happen.
The advantages of the internet means that you can start a business online, significantly reducing your overhead cost, giving you the ability to focus on driving in customers, rather than worrying about how to pay expenses.
A website doesn’t cost much. Just find some cheap website hosting, and create a website using WordPress. Online advertising, such as Facebook ads aren’t expensive either. You can spend as little as $1 and push traffic towards your business.
Does your business requires products and you need to buy materials? Cut your entertainment expenses and stop eating out. Invest your disposal income into your business. That $150 you spend on valueless stuff every month can go towards purchasing or leasing the equipment needed to run your business. You will have to sacrifice short term pleasures for long-term gains.
What is your excuse for not starting a business? Business ownership is attainable, but you have to actually want more than being an employee. A job may provide “security” but does it provides you with freedom?
Business ownership is about choosing to be free to pursue your own vision and goals, building a source of income from your hustle and ambition.
Do you need help to start a business?
At AsiaBiz, we have incorporated many businesses in Singapore and offshore. Call us at +65 6320 1877 or contact us for a free consultation.