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Thursday, March 14, 2013

Paid Jobs Versus Entrepreneurship

Our orientation, experience and mindset determines to a large extent what we can or cannot do. While I might subscribe to the notion that Entrepreneurship is far better than working 8am - 5pm everyday, you might be of a different notion of the subject matter. This article serves to open an avenue for discussion of which is better off, "paid jobs or Entrepreneurship".

Paid jobs are usually jobs where you have to work for the Boss, where you are confined to working hours in most cases 8-5 it all depends on the agreement with the employer. While working a paid job, you are entirely subject to a superior whom you send in your reports to on either a daily or weekly basis. The simple truth about paid jobs is that you are building the dreams of
someone else and not your dream. Doing a paid job entails that you would be subjected to series of tasks and deadlines to be met in accordance with what the master wants. In this kind of job, you are constrained, there is usually mentally stress involved most times when the Boss wants things to be done as a matter of urgency.
Entrepreneurship on the other hand is being the BOSS, running your own business, having people work for you, assigning tasks, etc. As an entrepreneur, you are rest assured that results accruing from the efforts you put into your business favors you directly in terms of profit making or indirectly in terms of loss. The good thing about entrepreneurship is that you work for yourself, you get whatever you put in, you don't work to make someone rich and get paid peanuts for that.

Working 8-5 is not meant for everyone and being an Entrepreneur is not also meant for anyone. I was opportune to speak with a group of graduates on this subject matter; while some were of the view that they they just want to work and get paid, some others vowed not to ever work for anyone after graduation. The later group termed working 8-5 as "Slavery".  I have come to understand that not everyone can succeed in business, not everyone has the mind of taking risks, most people just need an umbrella to hide themselves while some others get out in the storm to grab what they need.
The simple truth is this, Entrepreneurship is not as easy as it seems but once you have done your legwork, you can place your business on autopilot, sit down and watch the profits roll in; but it still requires hard work at the initial stage. The reasons why most people cannot go into business is:

1. Lack of Self Confidence: If you observe, most of the successful business men around are known to be confident in themselves, they talk about their dreams and vision with no form of doubt, they believe that their idea is the best and would work no matter the hitch. They constantly work on it until they get results. Dangote believed in himself and look where it got him. Mark Zuckerberg believed in himself and look where it got him; the list goes on and on. I know a few people with good business ideas that would give their lives a turn around if well implemented; but the problem is the fear of failure. These days, people would rather stick to the paid jobs that guarantees a certain sum of money at the end of the month than take up the challenge and risk of starting up a business; the reason is simple 'lack of self confidence'.

2. They Think They Need All The Money and Resources: I am very guilty of this, no doubt! I have always thought you need all the money and resources before starting a business. If you keep waiting, chances are you become moribund and keep procrastinating. I have seen people start up a business with as little as N5, 000. Yes! I can feel the surprise on your face! Let me break it down. Do you know you can import goods from China with as little as that amount, have it shipped to your doorstep and sell for profits. Infact, this information is stale! The idea is very simple and realistic, what you need do is a little market research, you need to know if the product would be in high demand; you can order for samples and market it to retailers who would buy in bulk. The good thing is that most of these products are very cheap, you can strike a bargain and get a written agreement with the retailer. He pays half the cost of the goods which in most cases might cover the overall cost of the products you want to sell to him.

Moral of this analysis is 'everything does not have to be perfect for you to start up', you need to build your business one step at a time. You do not need all the millions in the world to start up your own business, all you need is a little plan and implementation.

Working for someone or working for yourself is entirely up to you! Do you want to work 20 years and retire to enjoy just your retirement benefits? Would you want to build a business for yourself and enjoy the benefits in years to come leaving a legacy for your children and children's children? The choice is entirely yours!

Until next time.

Ikenna Victor Agina.


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