In my previous article, I told a brief story on what led me to discovering and working on my talent. Amongst the whole points I mentioned, dissatisfaction was my main reason for seeking change. I have always said, and will continue to say, that comfort is a killer. If you are satisfied where you are, nothing will challenge you to step out of that circle to pursue what lies in the bigger world. Beyond what you see, there is a bigger world. Until you step out from the circle of comfort and look further down the road, you may think where you are is the best in life.
From the attitude of certain people, and their communication manner, you are justified to make a conclusion that they’ve reached their dreams, and that there’s nothing more left for them. But this shouldn’t be so, because beyond our limited visions are opportunities and privileges waiting to be tapped. If you are daring, focused and determined, nothing can stop you from reaching higher goals. It’s time to reach higher goals; lets get up and continue to run!
I recently launched a digital marketing agency under the platform of www.hotsill.com. HOTSILL is into social media management and marketing, content Curation and marketing, website project management, multimedia training including effective communication, etc. We are proud to have trained some notable ethnic minorities in Britain on public speaking; project managed some charity organisations’ websites, handled book projects from idea generation to launch, etc. Why did I make a decision to start up my own business?
1. Inner satisfaction: If you are dissatisfied with your job, I do not advice you to jump out from your only source of income, but I will tell you to immediately begin to work on what brings you inner peace and happiness. If you do not have the capital to establish it, maybe because it is high capital intensive, go ahead and start blogging about it. That will cost you almost nothing but commitment.
2. Sense of identity: What are you known for; who are you identified as? When people remember you, what first comes into their minds? Your business gives you an identity. That is what you are described with.
3. Being visionary: Vision is foresight and the ability to see beyond your current location or status. As a good entrepreneur, you see beyond the current market. You look at the future with keen interest, and become proactive. Owning your business makes you visionary.
4. You acquire multiple skills: When you begin your business, you have limited cash or even have nothing. Again, you’ll notice that there are lots of things you need to pay money to acquire, such as websites, graphic designs, marketing tools, campaigns, and so much more. As you don’t have the capital to invest in all of these, you’ll be forced to learn a few skills that will, at least, position your business where people can see it. By positioning your business, you will unconsciously acquire loads of useful skills.
5. It gives you focus: Focus is the ability to maintain what you see. Never take your eyes off what you see. Focus is where vision is tested. Focus is where resolve is tested. Let your eyes stick to where you want to be. Continue daily, to behold, in your innermost self, where you are going. That continuity is what will take you there.
6. The attention: You attract attention from people when you start your own thing. Some attentions are negative, but others are positive. The negatives will criticise every step you take; they will pick holes in all your weaknesses, but you should never spend too much time brooding on the negatives. Let your focus be on the positives. The positives will encourage you; some will patronise you, while others will give you useful networks.
7. It makes you business-minded: As a business person, you have no time to waste over trivialities. No unnecessary phone conversations. Every minute counts.
8. It makes you an employer of labour: Imagine the first time you hand out wages to an employee – how will that make you feel? You are making a contribution to humanity!
9. The profit factor: Money! Money!! Money!!! No one is into business for charity alone. Even charity organisations make profits. Don’t be a loser; go for profits!
10. You leave a legacy: Coca-Cola is a legacy. Microsoft is a legacy. General Electric is a legacy. Who knows? You too can leave a legacy.
11. You are a contributor to economy: As a business person, you pay tax. Your tax helps boost the economy. And if your business thrives, you hire people. Just imagine your impact to your society!
12. Diversification: Some small businesses are born, they grow, make money and either expand or diversify. Virgin began with student magazine, but today, they are into so many things including airline.
13. You determine your destiny: The best thing I like about doing my own thing is my ability to determine my own destiny. I want to control my life; I don’t want to leave it in the hands of anybody because they may drive me crazy.
14. You make the rules: In determining your destiny, you make the rules; the rules of when to begin and when to end. You are in charge of the start and end time. You determine your time even if people don’t like it. I don’t like the timing of one local shop in my area but there’s nothing I can do about it. The shop owner opens when she likes and closes when she likes. I get pissed off, but that doesn’t stop me from going to buy from her because I need the items. If I don’t buy, I will be punishing myself. You see what I mean about doing your own thing? You may talk about her losing out to a competitor, but not everyone wants to dare open a shop in a remote street because of the profit margin. So, she’s in charge!
15. You walk in your purpose: While waiting for my flight to take off, I started my usual networking. During our discussion, one woman said, ‘I am pursuing my dream’. Seriously, I love to hear about people pursuing their dreams. Becoming an entrepreneur makes you pursue your purpose and dream. That’s one big advantage; if not the biggest for owning your own business.
16. Decision making is quick: In most organisations, too much bureaucracy kills innovations and the speed of investing on some viable businesses, but as an entrepreneur, you don’t have to go through anyone to make your decision. You need no one’s permission before taking advantage of opportunities that come your way. This is one big advantage of owning your own business.
17. You determine your risks: As you make decisions, you are also in the position to determine your level of risk. If you look into an opportunity and realise that the level of risk is higher than projected gain, you have the freedom as an entrepreneur to back out. No one can force you to do what you don’t want to do.
18. No fear of being fired: If you work for someone, you are at the mercy of your employer. Whatever he says is right is right; whatever he calls wrong no matter how right it is, is wrong. If you go against the rule in spite of being right, you can be fired at any time. But who would fire you in your own company? Nobody! You have the power to hire and fire. You are free from the shackles of anyone threatening you with going back into the job market.
19. You can work independently while building a team: One major work skill required in any field, discipline or profession is the ability to work independently with little or no supervision while at the same time, having the ability to be a team player. An entrepreneur has in abundance, these skills. Come to think of it, if you aren’t able to work alone, you can’t achieve success in your business. And if you aren’t able to build and work with a team, you also can’t achieve success.
20. You get some tax benefits: This varies from country to country. In many nations, those who set up their own businesses are rewarded by governments for contributing positively to the economy. This reward sometimes can be in form of tax rebates. Apart from tax rebates, the government grants loans to emerging entrepreneurs. Some of these loans come with no interests.
21. Access to entrepreneurial experience: Until you start doing something, you won’t know what it takes to really do that thing. Launching or owning your own business gives you a true experience of what it entails to do your own thing. Everybody can talk business but not everybody can do business. At the slightest challenge, some people panic and abandon their dreams, but those with the heart keep going until they break through. The road of entrepreneurship cannot be treaded in a classroom; it is only understood by walking on that road itself.
22. You become an inspiration: As an entrepreneur, when you succeed, you become a focal point of inspiration to aspiring entrepreneurs. As an inspiration, you are a visible icon to those who are far and near. When people want to give up, they draw strength from you by merely recalling that you are in existence.
23. You become a mentor: Since you inspire, you can become a mentor to those who are behind you. As a mentor, you teach upcoming entrepreneurs how to minimize failures and maximize success. With your information and experience, they acquire the best entrepreneurial skills.
24. You can take advantage of abandoned opportunities: Many people come up with great ideas but abandon them midway because they don’t have the character to carry on. As a business owner, you can pick up one of these ideas and develop. Many products that lead today were not started by the companies that finally brought them into the limelight.
25. You can run your business side by side your other career: Many, who started their businesses, at first, ran it side by side their other careers until it picked up. With that approach, they didn’t have to go through some untold hardship due to lack of money. It is advisable to have a paid job as you begin your business because most businesses don’t immediately start thriving.
26. It makes you determined: If your life depends on something, how would you fight? I guess, with determination! Whatever belongs to you, you fight to make the best. Your business is your baby, and as a parent, you do all you can to not just make it survive, but grow healthily. All buzzing entrepreneurs are determined people.
27. You become a lateral thinker: This is the ability to solve problems using an indirect and creative approach. In lateral thinking, you defy the traditional or conventional approach, that is, you think out of the box.
In entrepreneurship, there are challenges that traditional thinking cannot deal with. In this case, you have to put on your unusual thinking cap to come up with something unusual. It is this unusual solution that will solve an unusual problem.
28. You become an everyday learner: As a business owner, you gain new experiences daily and learn from them. If you refuse to learn, you will lose money, your customers or client base. When you learn, you must do it fast because the competition is high out there. The only way to make progress is to keep learning.
29. Money management: Money management skill is what every good business owner has. He knows where to spend and where to earn. He knows what to pay for and what to pray for. He evaluates items to ascertain their worth and then negotiates to have a better bargain before putting his hand into his pocket.
30: You become an expert: Your experiences make you an expert. Your losses make you an expert. Your stupid loans that were wasted over non-profitable ventures make you an expert. Your profits make you an expert.