Happy Hearts Day Everyone! Since it's V-Day today, I would like to share with you the second part of my post about entrepreneurship. You can read the post here . These may sound a little confusing due to the conflicting ideas. I hope though, that these help you weigh things out and come up with the decision to become an Entrepreneur or not.
Like I said in the previous post, a lot of people I know wanted to plunge in to business. However, the fear of taking risks outnumbered their intention. I have trained myself to act upon something I wanted as quickly as possible. "Action always beats Inaction" as they say. I always act upon a mere idea, even without any money involve. I do believe that things will unfold as you move towards that goal, that is how our universe works.
TIME
"Time is Gold", as the old adage goes. In Business, start up really needs to devote a lot of time. There is a planting season and a harvest season, as in all aspects of life really. When I decided to venture in to business, I told myself I have been putting in so much of my time to the company and helping it grow. Why not put the same amount of time to a business and probably I can make it grow. It has the same amount of idea, but different outcome.
As an employee, our time is making other's business successful. However, later on when we are old and do not have that much value. The amount of time we put in the work do not commensurate to the income we received. Notwithstanding, the inflation rate. Conversely, when we put the same amount of time to our own business and luckily it grows. As we reach the prime of our life, the profit we get, does not only beat the inflation rate, but we might be lucky that our generations to come may live a comfortable and abundant life.
Indeed, there are sleepless nights in managing a business. But, if you manage your time well and delegate work to other people who are knowledgeable than you are in the field. The luxury of time can be yours. How would you like to go on a vacation on weekdays? When everyone is at the office doing working, you can go out of town and spend the time you need to relax and destress. Similarly, on a weekends when everyone is busy destressing, most entrepreneurs are hustling- getting sales, building teams, etc. I would say one of the perks of being an Entrepreneur is doing business with pleasure.
MONEY
Profits are better than wages. Wages make you a living, profits make you a fortune.
Jim Rohn
As an employee, we received fixed wages or salary. Our salary depends upon the family, and the lifestyle that we have. A single person could earn a lot of money and save more or spend more. Likewise, a parent could earn money that is almost enough to sustain the life that they have. But how about inflation rate? In the Philippines, there is an average of 2-3% inflation rate yearly. So a single person yearly, would save or spend less and less money. A parent would spend less and less money to sustain a family. In return affects the over-all financial status of the family.
In Business, most of the work entails "Sales". I know many people are allergic to this word. What they don't realize is that even being an employee requires sales. To become an employee, you must first market yourself and the services or work you can offer. The interview and examination you go through, is synonymous to bidding in business.
Going back, Sales is the number one objective in growing a business. The sales of your company is directly controlled by you and your team. If you target to increase your income/profit, you only need to sell, MORE. Unlike, being an employee a fixed income is all you get day in, day out. Business, gives you the freedom to choose how much money you wish to have. You can only decide.
Lastly...
LEGACY
There really are a lot more reason to love being an entrepreneur. To many reason, so I only chose the best that I can offer you, to help you decide. This is for me specifically, the best motivation in being an entrepreneur.
I used to have training as an insurance agent, before I decided to go into business. I never knew it was somehow a training ground, as I have learned a lot in sales that I wouldn't get, otherwise. One thing that struck my mind on one of the training, is that a lot of us don't get to know our forefathers. Why? Because they did not left us with anything. If you have inherited money or properties from your parents or grand parents, would you forget about them? I don't think so, right? They have left not only money, properties and business but they made sure that you will may live a comfortable life even in their after life.
That's what we call LEGACY. One of the business I'm in to right now, actually came from my father. It was a legacy passed on to him by his uncle and aunts. It was our bread and butter when I was a child. It helped me and my siblings to graduate from College. Unfortunely, it did not go well for my father and later on closed the business. And so, when I decided to venture in to business, I thought about my father's business. I told myself if it wasn't meant for him then, it might be meant for me now.
Legacy is not limited to tangible things such as money or properties. Knowledge, can also be passed on and can leave a legacy behind to the people who matters most. I wish to succeed in this endeavour, not only for myself but for my generations to come. I wish that they will come to remember me, even when I'm gone. But more importantly, I wish that they would passed on the value, of what I have worked for, to a larger marketplace to serve a lot of people. This is the legacy I wanted to leave behind.
There you go, these are the top off my list perks of being an entrepreneur. To those who wish to take the plunge, I hope I have helped you decide and somehow motivated you to pursue. Until then...