I remember when I was in a 9-5 job and I would joke about how hard I worked and say things like “ If I worked for myself, I know where I would be today”. Oh well, it certainly is not that cut and dried because you go through so many seasons when you work for yourself.
Since I started working for myself, I‘ve realised there will be days of obscurity, lack, pain, gruelling work and long hours but there will be moments of triumph, hope and “pay”!!! That being said, this life is not for everyone! In fact, I embarked on it unwittingly! Here are 3 reasons why you should start your own business and 3 reasons why you should not:
3 REASONS WHY YOU SHOULD.
1. You want to make impact while monetizing your gifts/skills.You have so much to give. You have great ideas and you have so much on your inside. You have a passion for a certain group of individuals or the society at large and you have clear and valid solutions in mind and who exactly they are for. You have even discovered why you are here on this planet. You are the candidate for the job.
2. You want to make money.It’s a business after all, not a charity. Let’s do this. There’s money available in most economies on the level you want it, millions, billions etc. Remember this though, it will not be instant, easy or predictable. You have to fight to command, negotiate and manage the kind of money you want. This is true whether you are starting small or big.
3. You have business acumen.Not every one is called into business. But if you feel you are a business man or woman and have been known to run side hustles, manage your resources and identify opportunities successfully, give it a shot if you want to. We need people with a head for business.
3 REASONS WHY YOU SHOULD NOT
- You want to make "sharp" money. My dear friend, making money is not promised! Face it, you only make money when your net income far exceeds your cost and that is not likely to happen ASAP, it takes a while for your process to kick in and yield returns. You and your staff will need to work, satisfy your clients, bill and follow up on your money. For some, this cycle is a few months and for others, it’s up to a year. If it’s sharp predictable money you need, stay on your 9-5.
- You think being a boss gives you control over your time. Yeah, right. Long story short, when you first start, you are your own business manager, operations manager and executive, accountant, brand manager, admin officer etc. How else did you think your employers ran the business? Someone has to go and buy stationery, someone has to put on the generator, someone has to go and buy data, someone has to draw up your marketing budget, someone has to do your customer research, and more. Even if you have staff, you need to supervise what they are doing in addition to your own strategic thinking as CEO before you know it, you are spending 18 hours, 7 days with your laptop, phone and paperwork. It does not free you up. You just get to choose what keeps you busy and pay for it in your bottomline!
- You’re not ready to deal with people issues. This is even laughable. We can all relate, we want to stop working with that boss or colleague that drives us up the wall. If we started our business, we would be able to choose and work only with people we like right? Wrong? We will meet all kinds of investors,clients, vendors and hire all kinds of staff with all kinds of temperaments, backgrounds and behaviours. What do we do then? Learn to handle and manage people, it’s that simple.
If you are in a job or role where you are perfectly happy and fulfilled working for someone and you earning enough, managing your resources and wealth well and can leave a legacy for your children, please keep at it by all means. Someone has go to work for the entrepreneurs so we need you in your role.
Starting and running a business is a roller coaster ride, one with huge promise but no guarantees on dividends. It is instead, a call to solve problems on any level, meet needs and serve and change the world or at least your customers’ lives with ideas and inventions that will outlast you. It’s your call. Take your pick.