Many dreamed of owning a business only few realize that dream. That’s because there is a very long line between “owning a business” and OWNING A BUSINESS.
We hear a lot of people say they want go into business for one reason or the other but the most common reasons are; to have an extra source of money, to have time for their family, and to be independent. All these reasons are just what you need to NEVER make it as an entrepreneur.
Any successful entrepreneur will tell you that a new business doesn’t become an addition source of income for at least 5 years, that time with family and friends is from zero to none and being independent is just a myth.
Every successful entrepreneur had, overtime, reinvested whatever income they earned from their business back into their business during their start up stage. They have spent the least time with their family and friends during this stage and most importantly is the fact that an entrepreneur is never “independent”, you need customers to patronize your business and that depend on how well your business can solve a need. Every business should be created with the purpose of providing for a need, a need of a group of people that will be called Customers.
So for does with big dreams of being the next Dangote, let’s pause for a minute and consider some of the risks and uncertainty associated with being an entrepreneur.
#1 UNCERTAIN INCOME
Every salaried employee is certain of the amount of money they earn and also about the fact that as long as they are employed they are entitle to that amount weekly or monthly. But as an entrepreneur you would only rely on profit, which is not certain. Thus, how would you sustain yourself during this period of no profit or reinvestment of profit?
#2 JOB SECURITY
Many people are looking for jobs with security, because the success or failure of the company is not entirely tied to them and they have hope for the future in terms of finance. While all these are just relatively true, the average job seekers can still achieve that. But for an entrepreneur, his security depends on the success of his business. And this phenomenon makes it possible for an employee to make better plans for the future while in the present but an entrepreneur’s future depends on the daily survival of his business.
#3 HIGH FAILURE METRICS
Statistics shows that the first 5 year could be the most challenging for most businesses it is also the period were failure of such business is very high.
And as an entrepreneur you will always be confronted with the fear of failure until you can possibly overcome it. And this may happen when you have solidly established your business, though most business owner still have this fear due to fluctuating economic times but many have mastered their fears and turned it to their strength. Unlike an employee, who is in a safe zone, and the worst that could happen if a company goes into liquidation, is to change employment.
#4 WORKING HOURS
Have you ever heard the phrase that “an entrepreneur doesn’t sleep” No. that’s because I just made that up and in all ramifications, I am right.
Night sleep is overrated for many entrepreneurs, because they have a drive, something better than sleep. As Mr Linus Okorie, a motivational speaker, use to say “when a man has no purpose to wake up sleep becomes interesting” but I say” when a man owns a business, sleep become boring”
A man who sleeps all day has no work while a man who sleeps all night has no business.
An entrepreneur has no set time for work, every time is work. He puts in countless hours strategizing on how best to move his business forward and keep his dreams alive.
#5 SOCIETAL EXPECTATIONS
I don’t know if this is an African Thing, but the moment it is known that you run your own business the demands from your family, friends, in laws and all persons will increase as everyone will think “you have arrived”. People you gave less will expect more and will scorn you if you fail to do so. And if you are not wise enough, you might run down your business before it even started.
Now that you are aware of the aforesaid risk and uncertainty, you must ponder seriously on your intentions to own a business and how prepared you are mentally, spiritually, financially and all the lly…
If my feeble attempt to scarce you about being an entrepreneur is working then you may not have the stomach for more tough unforeseen challenges of becoming an entrepreneur. But if it enlightens and motivates you more, than congrats, you may very well be the next Dangote. 
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AdverBusiness: Many dreamed of owning a business only few realize that dream. That’s because there is a very long line between “owning a business” and OWNING A BUSINESS.
We hear a lot of people say they want go into business for one reason or the other but the most common reasons are; to have an extra source of money, to have time for their family, and to be independent. All these reasons are just what you need to NEVER make it as an entrepreneur.
Any successful entrepreneur will tell you that a new business doesn’t become an addition source of income for at least 5 years, that time with family and friends is from zero to none and being independent is just a myth.
Every successful entrepreneur had, overtime, reinvested whatever income they earned from their business back into their business during their start up stage. They have spent the least time with their family and friends during this stage and most importantly is the fact that an entrepreneur is never “independent”, you need customers to patronize your business and that depend on how well your business can solve a need. Every business should be created with the purpose of providing for a need, a need of a group of people that will be called Customers.
So for does with big dreams of being the next Dangote, let’s pause for a minute and consider some of the risks and uncertainty associated with being an entrepreneur.
#1 UNCERTAIN INCOME
Every salaried employee is certain of the amount of money they earn and also about the fact that as long as they are employed they are entitle to that amount weekly or monthly. But as an entrepreneur you would only rely on profit, which is not certain. Thus, how would you sustain yourself during this period of no profit or reinvestment of profit?
#2 JOB SECURITY
Many people are looking for jobs with security, because the success or failure of the company is not entirely tied to them and they have hope for the future in terms of finance. While all these are just relatively true, the average job seekers can still achieve that. But for an entrepreneur, his security depends on the success of his business. And this phenomenon makes it possible for an employee to make better plans for the future while in the present but an entrepreneur’s future depends on the daily survival of his business.
#3 HIGH FAILURE METRICS
Statistics shows that the first 5 year could be the most challenging for most businesses it is also the period were failure of such business is very high.
And as an entrepreneur you will always be confronted with the fear of failure until you can possibly overcome it. And this may happen when you have solidly established your business, though most business owner still have this fear due to fluctuating economic times but many have mastered their fears and turned it to their strength. Unlike an employee, who is in a safe zone, and the worst that could happen if a company goes into liquidation, is to change employment.
#4 WORKING HOURS
Have you ever heard the phrase that “an entrepreneur doesn’t sleep” No. that’s because I just made that up and in all ramifications, I am right.
Night sleep is overrated for many entrepreneurs, because they have a drive, something better than sleep. As Mr Linus Okorie, a motivational speaker, use to say “when a man has no purpose to wake up sleep becomes interesting” but I say” when a man owns a business, sleep become boring”
A man who sleeps all day has no work while a man who sleeps all night has no business.
An entrepreneur has no set time for work, every time is work. He puts in countless hours strategizing on how best to move his business forward and keep his dreams alive.
#5 SOCIETAL EXPECTATIONS
I don’t know if this is an African Thing, but the moment it is known that you run your own business the demands from your family, friends, in laws and all persons will increase as everyone will think “you have arrived”. People you gave less will expect more and will scorn you if you fail to do so. And if you are not wise enough, you might run down your business before it even started.
Now that you are aware of the aforesaid risk and uncertainty, you must ponder seriously on your intentions to own a business and how prepared you are mentally, spiritually, financially and all the lly…
If my feeble attempt to scarce you about being an entrepreneur is working then you may not have the stomach for more tough unforeseen challenges of becoming an entrepreneur. But if it enlightens and motivates you more, than congrats, you may very well be the next Dangote.
AdverBusiness: Many dreamed of owning a business only few realize that dream. That’s because there is a very long line between “owning a business” and OWNING A BUSINESS.
We hear a lot of people say they want go into business for one reason or the other but the most common reasons are; to have an extra source of money, to have time for their family, and to be independent. All these reasons are just what you need to NEVER make it as an entrepreneur.
Any successful entrepreneur will tell you that a new business doesn’t become an addition source of income for at least 5 years, that time with family and friends is from zero to none and being independent is just a myth.
Every successful entrepreneur had, overtime, reinvested whatever income they earned from their business back into their business during their start up stage. They have spent the least time with their family and friends during this stage and most importantly is the fact that an entrepreneur is never “independent”, you need customers to patronize your business and that depend on how well your business can solve a need. Every business should be created with the purpose of providing for a need, a need of a group of people that will be called Customers.
So for does with big dreams of being the next Dangote, let’s pause for a minute and consider some of the risks and uncertainty associated with being an entrepreneur.
#1 UNCERTAIN INCOME
Every salaried employee is certain of the amount of money they earn and also about the fact that as long as they are employed they are entitle to that amount weekly or monthly. But as an entrepreneur you would only rely on profit, which is not certain. Thus, how would you sustain yourself during this period of no profit or reinvestment of profit?
#2 JOB SECURITY
Many people are looking for jobs with security, because the success or failure of the company is not entirely tied to them and they have hope for the future in terms of finance. While all these are just relatively true, the average job seekers can still achieve that. But for an entrepreneur, his security depends on the success of his business. And this phenomenon makes it possible for an employee to make better plans for the future while in the present but an entrepreneur’s future depends on the daily survival of his business.
#3 HIGH FAILURE METRICS
Statistics shows that the first 5 year could be the most challenging for most businesses it is also the period were failure of such business is very high.
And as an entrepreneur you will always be confronted with the fear of failure until you can possibly overcome it. And this may happen when you have solidly established your business, though most business owner still have this fear due to fluctuating economic times but many have mastered their fears and turned it to their strength. Unlike an employee, who is in a safe zone, and the worst that could happen if a company goes into liquidation, is to change employment.
#4 WORKING HOURS
Have you ever heard the phrase that “an entrepreneur doesn’t sleep” No. that’s because I just made that up and in all ramifications, I am right.
Night sleep is overrated for many entrepreneurs, because they have a drive, something better than sleep. As Mr Linus Okorie, a motivational speaker, use to say “when a man has no purpose to wake up sleep becomes interesting” but I say” when a man owns a business, sleep become boring”
A man who sleeps all day has no work while a man who sleeps all night has no business.
An entrepreneur has no set time for work, every time is work. He puts in countless hours strategizing on how best to move his business forward and keep his dreams alive.
#5 SOCIETAL EXPECTATIONS
I don’t know if this is an African Thing, but the moment it is known that you run your own business the demands from your family, friends, in laws and all persons will increase as everyone will think “you have arrived”. People you gave less will expect more and will scorn you if you fail to do so. And if you are not wise enough, you might run down your business before it even started.
Now that you are aware of the aforesaid risk and uncertainty, you must ponder seriously on your intentions to own a business and how prepared you are mentally, spiritually, financially and all the lly…
If my feeble attempt to scarce you about being an entrepreneur is working then you may not have the stomach for more tough unforeseen challenges of becoming an entrepreneur. But if it enlightens and motivates you more, than congrats, you may very well be the next Dangote.
AdverBusiness: Many dreamed of owning a business only few realize that dream. That’s because there is a very long line between “owning a business” and OWNING A BUSINESS.
We hear a lot of people say they want go into business for one reason or the other but the most common reasons are; to have an extra source of money, to have time for their family, and to be independent. All these reasons are just what you need to NEVER make it as an entrepreneur.
Any successful entrepreneur will tell you that a new business doesn’t become an addition source of income for at least 5 years, that time with family and friends is from zero to none and being independent is just a myth.
Every successful entrepreneur had, overtime, reinvested whatever income they earned from their business back into their business during their start up stage. They have spent the least time with their family and friends during this stage and most importantly is the fact that an entrepreneur is never “independent”, you need customers to patronize your business and that depend on how well your business can solve a need. Every business should be created with the purpose of providing for a need, a need of a group of people that will be called Customers.
So for does with big dreams of being the next Dangote, let’s pause for a minute and consider some of the risks and uncertainty associated with being an entrepreneur.
#1 UNCERTAIN INCOME
Every salaried employee is certain of the amount of money they earn and also about the fact that as long as they are employed they are entitle to that amount weekly or monthly. But as an entrepreneur you would only rely on profit, which is not certain. Thus, how would you sustain yourself during this period of no profit or reinvestment of profit?
#2 JOB SECURITY
Many people are looking for jobs with security, because the success or failure of the company is not entirely tied to them and they have hope for the future in terms of finance. While all these are just relatively true, the average job seekers can still achieve that. But for an entrepreneur, his security depends on the success of his business. And this phenomenon makes it possible for an employee to make better plans for the future while in the present but an entrepreneur’s future depends on the daily survival of his business.
#3 HIGH FAILURE METRICS
Statistics shows that the first 5 year could be the most challenging for most businesses it is also the period were failure of such business is very high.
And as an entrepreneur you will always be confronted with the fear of failure until you can possibly overcome it. And this may happen when you have solidly established your business, though most business owner still have this fear due to fluctuating economic times but many have mastered their fears and turned it to their strength. Unlike an employee, who is in a safe zone, and the worst that could happen if a company goes into liquidation, is to change employment.
#4 WORKING HOURS
Have you ever heard the phrase that “an entrepreneur doesn’t sleep” No. that’s because I just made that up and in all ramifications, I am right.
Night sleep is overrated for many entrepreneurs, because they have a drive, something better than sleep. As Mr Linus Okorie, a motivational speaker, use to say “when a man has no purpose to wake up sleep becomes interesting” but I say” when a man owns a business, sleep become boring”
A man who sleeps all day has no work while a man who sleeps all night has no business.
An entrepreneur has no set time for work, every time is work. He puts in countless hours strategizing on how best to move his business forward and keep his dreams alive.
#5 SOCIETAL EXPECTATIONS
I don’t know if this is an African Thing, but the moment it is known that you run your own business the demands from your family, friends, in laws and all persons will increase as everyone will think “you have arrived”. People you gave less will expect more and will scorn you if you fail to do so. And if you are not wise enough, you might run down your business before it even started.
Now that you are aware of the aforesaid risk and uncertainty, you must ponder seriously on your intentions to own a business and how prepared you are mentally, spiritually, financially and all the lly…
If my feeble attempt to scarce you about being an entrepreneur is working then you may not have the stomach for more tough unforeseen challenges of becoming an entrepreneur. But if it enlightens and motivates you more, than conup g, rats, you may very well be the next Dangote.
I love that, I will follow u up 1 Like |
