CHAPTER ONE | BEFORE YOU QUIT YOUR JOB TO START A BUSINESS
Entrepreneurship is hard. Very hard.
Nothing is exciting about starting a business and people not buying from you.
The odds are stacked against you. You are more likely to fail than succeed.
As an entrepreneur, you would probably put everything you have into your dreams. Your savings, energy, resources, usually at the expense of your health, family and maybe education. When you fail, it can be a very big problem. I will tell you once again. Being an entrepreneur sucks.
Reasons aspiring entrepreneurs give for wanting to become entrepreneurs
- They Don’t Want A Boss
If you want to become an entrepreneur because you do not want a boss, I have bad news for you; You Will Always Have A Boss.
There will always be someone you are answerable to.
Don’t quit your job to start a business because you don’t want a boss.
- They Do Not Want To Work Long Hours
It might interest you to know that entrepreneurs work longer hours than employees.
The entrepreneur is always working. None of my employees work as long as I do. Please note I did not say “as hard”. From the time I wake up to the time I’m going to bed, I am always working. when it comes to working long hours, it is something you have to do as an entrepreneur.
- They Want More Money…Now
If you want money right now, starting a business is NOT something I will advise you to do. You need a JOB. A job that can pay you for your work at end of the day or week or month.
It is called building a business - it will take some time to see results.
If you need cash immediately, starting a business is not what you should do. Get a job.
- They Just Discovered A New Business Opportunity
There is really nothing wrong with learning a new skill and doing business with it but learning a new skill is not enough to sustain a business.
Big brands are big because they know how build businesses.
Until you know how to build and market a business, you should not rely on the fact that you learned a new skill.
You can practice the new skill you just learned on the side while you keep your job or while you are still in school. As you practice, keep it small and make small mistakes. You can grow into it that way.
- You Need A Strong “Why”
How to make money is not the problem. Don’t focus too much on that. You need to focus on the “WHY”?
Why do you want to build a business?
You need a strong reason. You are the only one that can find out your why. Until you find out a strong why, I don’t think you should venture into business.
Opportunity Is Different From Business
You should not deceive yourself thinking you are doing business by handing over money to someone for guaranteed returns.
You should not rely on such opportunities to sustain you forever. Reasons why are:
- You Cannot Consistently Find Such Opportunities: There is no guarantee you will keep finding such opportunities for the rest of your life.
- You Are Susceptible To Fraud: When you are all about looking for opportunities, there is a high likelihood you will get defrauded. Fraudsters prey on opportunity seekers.
- You Can Become Lazy: When you get addicted to looking for opportunities, You will become both physically and mentally lazy.
- You Are Not In Control: If you depend on opportunities, you will not be in control, and is not good for your financial future.
Once you have convinced yourself with a strong why, then you are good to go.
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