The bad news is Entrepreneurship/starting a business is freaky very hard, with you having less than 30% assurance that your startup business is going to be a success.
I am not trying to sound scary, why will i do such’ but it so obvious that whenever the biography of successful entrepreneurs is been read or maybe when you listen to them live in an interview or when you read their business journey or when you read about them in Forbes. You heard how they started small and eventually became a loud blowing trumpet.
You heard few times they got struck with business difficulties and how they strategically scale through and became successfull. That sounds exciting. It sounds like something you envision for yourself. It sounds like boom and crack when you hear about such stories but the facts is that in reality nothing is exciting about how you are going to raise funds to startup and bridges through the challenges ahead.
Have you ever thought, what if after starting your business.
- People are not buying from you
- You find it difficult to raise fund to manage the business
- You didn’t figure out that it will take you months or years beforr you started seing result.
- You end up loosing everything you have into your dreams
No one is telling you that as an entrepreneur, the odds are stacked against you. You are more likely to fail than succeed.
Being an entrepreneur sucks, and if you are unable to answer these simple but technical question about starting a business, then forget it and find a job.
5 Question to tackle before you start a business.
- Do you want to become your own boss?
- Do you want to stay off work?
- Do you want to make quick cash?
- Do you want to start a business because you have an opportunity?
- Do you have a strong WHY you should start a business?
Take a minute or two and ponder on the questions. Kindly provide a heart warming answer to everyone of them. In fact writing your answer In a sheet of book.
Before you dive into the answers I will provide for you.
Nope, not so fast just try not to cheat. Be sure you have written your answers down first before accessing these answers, it will help you on the long run.
Answers to the 5 questions on why start a business.
Do you want to become your own boss?
I am quite certain that 90% of people inspiring to start a business have the mindset that if they achieve their aim of starting a business they will become their own boss.
Well I am here to criticize and terminate that mindset. I know many employees dont like their bosses. Some do not like taking orders from people. Some believe their bosses are making wealth of them and that is why they want to become an entrepreneur.
The truth is if you want to become an entrepreneur because you do not want a boss, I have a bad news for you and that bad news was made known by one of Nigeria most famous marketer and business expert Akin Alabi and he said that.
You will always have a bossAkin Alabi
There is someone who is always going to be there to check on you, someone you are going to be answerable to.
If you are a blogger, digital markerter or if your business has a website online, then your hosting company ( the host you chose to buy your domain and hosting) is your boss. Because if anything that happens to their database. Your business is gone for good
If you run a business that operates in a regulate industry, then you have boss, or should I say bosses.
Do you want to stay off work?
Ofcourse you are going to say a happily YEA! To this question because from your own methodology you believe that when you start a business you become a boss and you stay of work.
You don’t like that fact that you have to wake up every morning to go to work. You want to be a boss so you arrive at work whenever I please you.
It might interest you that to become a successful entrepreneur you have to work longer hour than your employees.
I know you visualize how enterprenuers might go to office at noon, perish the thought, if you think all he does in the morning is playing soccer game.
The entrepreneur is always working. Before he gets to the office and after he leaves. The entrepreneur wakes up in the middle of the night to brainstorm and research on an idea that will move the business forward to solve a knotty issue.
Do you want to make quick cash?
Because the most wealthiest people in the world are mostly entrepreneurs, we want to be like them. We want to make money right of the bat, we just have to start a business and start milking out cash.
But It doesn’t work that way. If you want to make quick cash consider taking up a paid job, I advice you to do that urgently. You need a Job. A job that can pay for your work at end if the day, week or month.
- Don’t start a business because you want to make quick cash.
- Don’t start a business because you want to clear of debts.
There is a huge difference between building a business and starting a business to make quick cash.
From the word “Build” It signifies that it takes time to grow a business, It can even take you years of consistency before you finally arrive at the dream life you always imagine of.
It will not happen overnight. It really going to take you years of toil, hardworking and consistency to arrive here so if you need quick cash, starting a business is not what you should do.
Get a Job.
Do you want to start a business because you have an opportunity?.
This is another common mistake you should flee from. Breezing through or attending a paid seminar on how to do a particular thing (It could be how to make spades, how to do web designing or others) doesn’t guarantee if you shoulf quit your job and start up a business based on that few minutes, hour seminar you had, gou are going to rock.
You will suffer on the long run .
Please don’t misunderstand, there is nothing wrong in attending paid seminars or workshops. That the best way to invest in yourself I must say. But what I am tryna illustrate here is that.
Learning a new skill is not enough to start, grow and manage a business.
For an example you attended a 7 days workshop on how to do mini importation business, after the workshop is over. It doesn’t mean you should buzz and begin to feel like an importer already.
Don’t even quit your day job, that if you had one. Yea sure there are many good that are of good ideal to import because they are high in demand no doubt but how are you going to disloge those that are already dominated the market?.
Another illustration is you cannot start a blog today and rank for a top trending keyword, not because you don’t know how to blog but because your blog is new and lack reputation in search engines. Same applies to the business field, there is always a negative side effect starting a business new.
You have to focus on building trust, reputation and creating awareness to stand out in the crowd.
Do you have a strong WHY you should start a business?.
You need to have a strong desire in your heart, a fire burning. You need a stong reason. You are the only one that can find out your WHY. Until you find out a strong why you need to start. a business that is appealing to you. I dont advice you should venture into starting a business.
Dont start a business untill you watch this – Danlok
Don’t start a business build a brand – John Hegarty
Don’t start a business untill you watch this video by Kevin David
At this point, I believe you are going to think long and hard about your decision to go Into business. Once you have convinced yourself with a strong why, then you are good to go. The rest of this book will arm you with the skills needed to start and grow your own small business, that will in turn bring in money for you non stop.