Long time ago; being an entrepreneur wasn't notable, lots of people would rather work for a big organization (9AM - 6PM) and get paid on a monthly basis rather than starting up a business. Times have greatly changed now; and it is the other way around. Because economy is slowing down, prices are rising, debts are increasing, employees are being retrenched and salary are shrinking; many are forced to find other means to survive. Frankly, living today is more expensive than before!
The people who first made the leap to entrepreneurship of course didn't find it easy. They were faced with various challenges and most of them failed. This embarked a common accepted idealogy to people that doing business is a huge risk. So most people stayed out of it and tend to find their comfort zone as an employee climbing the corporate ladder. The small percentage who succeeded were able to navigate through the challenges because they were persistent. And not only that, they are the ones who truly knows that the only sure way to succeed is to have the "RIGHT" preparation.
|Boy: Dear Guru, I really want to lift myself and my parents out from poverty. To reach that goal, what preparations should I do?
Guru: My child, I can't give you a direct answer.
Boy: [silently waiting...]
Guru: If your goal is to become a doctor, you read books about medicine, basically you study medicine; then you get experience on the field or on the hospital; and so on this cycle repeats till you master it.
Boy: [confused.. scratches head, and went away..]
Most of us tends to be the boy above. The goals are set! But quickly loose our interest or motivation when reaching the goal becomes difficult. Sadly, most will not even give any effort to try first because of the fear of failing. Those who belong to the small percentage who succeeded also had failures; but they learned, they tried again (continuously improving) and they never gave up. They were able to endure and come up with a right formula of success. Fast forward to today; lots of those entrepreneurs have their stories written so we can read and learn from the experiences they had.
Who would imagine that giant companies like Amazon, Apple, Disney, Google, HP and many more have started in a garage!? Some even started in a street cart selling shoes and books. Be it on a garage or street carts, the similarity was the mind setting; their determination to start and their consistency to focus. These genius have trained their minds to see problems as opportunities. So even the economy drops, or business fail; they can manage it gracefully.
During financial crisis, many companies had no other option but to cut cost and unfortunately, one of the common option is to lay-off their employees. How dedicated one employee may be, how hard-working he or she is and even how long they've been in the company. Regretfully, the fact below can not be avoided.
|American Express||4,000||January 2015|
|Procter & Gamble||6,000||April 2015|
|Qualcomm Inc.||4,500||July 2015|
|JPMorgan Chase & Co.||5,000||September 2015|
|Cisco Systems||14,000||August 2016|
A long lists follows the chart including a number of companies (globally) ranging from SMB to Enterprise have declared bankruptcy and closure during the financial crisis. This led to millions of individuals struggling to find a job, veteran employees were evicted and replaced with rookies and unfair it may seem; many does not understand, the value of time. This is the risk of being employed.
The moment you decide to be your own boss, all of that changes. The most toughest part that you need to overcome is the regular pay. YES!! Regular Pay; while you were an employee at your former workplace you lived based on what tasks are given to you; now that you are an entrepreneur, it's not the same (most especially when starting up your business) you might get a sale today and for the next three months you might get nothing; so, you'll need to strategize on how to make sales consistently.
As of current, successful entrepreneurs have leverage the use of the Internet. Click below for more details on how you can also earn ONLINE:
You, becoming your own boss; might sound breathtaking but at the same time it's very tricky. While you were an employee, you had someone controlling your activities which led you to do things "seemingly" right so the organization can grow. But as an entrepreneur it's quite different, this time you make decisions, other people's lives is in your hands (your workers, the recipient of your services and your product users). You also need to learn to be more accommodating; your clients and prospects could sometimes send you over board but with diligence you can dominate them and make them do things in a win-win situation. Personal Development is also another important factor being an entrepreneur; you need to keep learning every day; follow trends, when necessary attend conferences and entrepreneurship events. This would in turn make you better.
To conclude; the journey towards entrepreneurship is tough. Before starting, you need to be fully prepared emotionally, mentally and physically. You'll need all the resources you can get and is imperative you know which is the right resource. Unfortunately, those closest to you will be the one's who will (most of the time) discourage you. Various challenges will confront you but just like one of the many success stories out there. Entrepreneurs look at challenges and problems as an opportunity. These opportunities may not always be associated with wealth and money, but it can also involve growth and fullfillment not only for yourself but to other people as well (aside from contributing to the economy, you'll give people jobs, hope and a better tomorrow); which i believe is Priceless.