I know countless number of people that are not happy with their jobs and will like to start their own businesses. Just recently, I hosted an Internet marketing seminar in my office in Lagos and many of the attendees were full time workers looking to go solo. If you are one of such people, that is great.
The other part of the story is that saying you want to start is just the
beginning. It is easier said than done. You must have a very strong reason to
quit your job, start a business and stick with the business.
Over and over again, I see people start businesses, fail and then go back to look for jobs. Nothing wrong with that. What was probably wrong was that they DID NOT have a strong reason in the first place.
Do not quit your job to start a business just because of these flimsy reasons. You need STRONGER reasons to become a successful entrepreneur.
1. Do not quit your job because you don’t want a boss: That reason is not strong enough. In business, even though you are your own boss, you will still have plenty ogas worse than your current boss.
You will always have an oga.
Creditors
Regulatory bodies
The tax man
Etc etc.
2. Do not quit your job because you don’t want to work long hours: As a business man, you will work longer than your employees. In fact, you will be permanently working. You will work longer than you used to work. You will be disappointed if you expect anything less.
On a personal note, apart from running our sports betting business, I run a training company and I run an NGO, the Akin Alabi Foundation. And that is not adding my political activities and participation in professional associations relevant to my business.
How will I ever work short hours?
3. You want more money: No sir. Don’t expect money from your business from day one. In fact, you have to be more careful about spending as you no longer have a guaranteed salary at the end of the month.
When you start a business, you have to really really reduce your personal expenses. You have to be very smart with your money. If you fail, no one will give you a salary.
You should only increase your personal living standard only if your business is growing. If you go into business because you need money quickly…
Over and over again, I see people start businesses, fail and then go back to look for jobs. Nothing wrong with that. What was probably wrong was that they DID NOT have a strong reason in the first place.
Do not quit your job to start a business just because of these flimsy reasons. You need STRONGER reasons to become a successful entrepreneur.
1. Do not quit your job because you don’t want a boss: That reason is not strong enough. In business, even though you are your own boss, you will still have plenty ogas worse than your current boss.
You will always have an oga.
Creditors
Regulatory bodies
The tax man
Etc etc.
2. Do not quit your job because you don’t want to work long hours: As a business man, you will work longer than your employees. In fact, you will be permanently working. You will work longer than you used to work. You will be disappointed if you expect anything less.
On a personal note, apart from running our sports betting business, I run a training company and I run an NGO, the Akin Alabi Foundation. And that is not adding my political activities and participation in professional associations relevant to my business.
How will I ever work short hours?
3. You want more money: No sir. Don’t expect money from your business from day one. In fact, you have to be more careful about spending as you no longer have a guaranteed salary at the end of the month.
When you start a business, you have to really really reduce your personal expenses. You have to be very smart with your money. If you fail, no one will give you a salary.
You should only increase your personal living standard only if your business is growing. If you go into business because you need money quickly…
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