Six years
ago I was still an employee of Guaranty Trust Bank plc and my salary was a
little below N100K monthly, basically I lived on a tight budget while on the job.
Bankers as we all know mostly, liked to live the happier than thou lifestyle
but most of us lived a borrowed life, our car is acquired through Loan, our furniture
is bought on credit, the house we lived in is secured through mortgage loan as
well, even our shirts, suits and shoes that we make ‘shakara’ with is usually acquired
on credit. Some of us even go as far borrowing money to float an elaborate wedding
after which the marital institution fell off like a pack of domino when the
center holds no more. Millions of people are desperate to escape the 9 to 5 job;
one popular alternative is to look for a business opportunity that turns you
from an employee into a self-employed entrepreneur running your own business. See
related article…http://hollalaycan.blogspot.com.ng/2015/11/should-you-stick-to-your-present-job-or.html
There are
many good reasons why this can be a wise move. Being your own boss means you
can set your own hours and decide when the shot is called by not waiting for a
superior order from above. This can be very important if your present income is
not commensurate with your efforts, or simply you wish to spend more time with
your family at home. Working from the comfort of your home can also save
valuable time spent in traffic gridlocks, if the alternative is spending two or
three hours every day commuting back and forth to your work place. And perhaps,
working for yourself also gives you the opportunity to diversify and makes more
money than your present job offers. Read related article.. http://hollalaycan.blogspot.com.ng/2015/06/are-you-still-in-paid-employment-11.html
Fortunately,
being your own boss gives you that priceless commodity called liberty. It sets
you free from the confines of being someone else's paid employee, and in return
makes you in charge of your own future. As a self-employed entrepreneur you are
free to set your own timing, establish your own work routine, choose what work
you will do or will not do, it afford you to create your own products, build
your own customers, and do what you have to do to make those customers contented.
And perhaps
most importantly, when you are self-employed you are free to set your own
prices and make as much or as little income as you are able. You will not have
to answer to anyone other than yourself, your suppliers, and of course, the
regulatory authorities after your business becomes booming.
How do you get started -- Two Options
There are
two apparent ways you can go about starting your own business. The first option
is to quit your day job and launch full bore into your new business. This can
be referred to as the "Plunge Approach". The second way is to
continue with your current employment and develop a business on the side, in
your spare time. We'll call this the "Auxiliary Instance Approach".
Based on
your situational circumstance, taking Plunge Approach can be either an act of courage
or just plain carelessness. Unless you are autonomously wealthy, planning and
timing are very important with this approach. The reason being that once you
leave your previous employment your source of monthly income will be frozen and
you will have a limited amount of time to make your business work. It is
"sink or swim". And you can sink pretty quickly without a source of
income. See helpful article here…http://hollalaycan.blogspot.com.ng/2015/01/6-things-they-dont-tell-you-when-you.html
So that
means you should plan the switch to self-employment very cautiously. Every
situation will be different. A colleague of mine was able to step from her salary
job into a private fashion designing business because she spent the last few
months of her employment developing leads and contacts within her industry.
When she went on her own she had customers waiting for her services and was able
to more than double her income in the very first year of start-up as an
entrepreneur.
However, a
good number of us are not so lucky with certain managerial skills. We do not
have the quality leads or the conceptual skills to overcome the challenge that
comes with self-employment. Nor do most of us have the opportunity to use our
present employment to build a launching pad of potential customers before we take
off into the wild blue abyss of self-employment. Fortunately for me, most of my
clients today are either old customers from Gtbank or referrals from them. Many
aspiring entrepreneurs are starting from scratch with a few vague ideas, a doubtful
set of yet-to-be-defined skills, and severely limited income. So our venture
into self-employment had better take off within a few months or we might not
survive the torrents.
That is why
the Auxiliary Instance Approach is best for most new self-employed
entrepreneurs. The Auxiliary Instance Approach lets you test your ideas,
develop your skills, and build your business slowly. If you are unsure about
the products or services you intend to sell, Auxiliary Instance Approach lets
you try out different product lines and see how well they fit in with your
overall objectives. Often new entrepreneurs find that their first ideas are not
realistic, or there is no market for the services they want to provide. Or they
find they cannot charge enough to make any money providing the products or
services they have chosen.
Choose your area of interest cautiously
Like all new
entrepreneurs, whether you take the "Plunge Approach" or the "Auxiliary
Instance approach" you should be very shrewd with your limited resources.
That means do not invest any serious money in a product or business ideas until
you have checked it out meticulously. The best way to "check it out"
is to:
- Talk to
people who are already selling the product or service.
- Establish
the credibility of the person or company providing the product or service.
- Make sure
the company provides on-going support for their product(s).
- Make sure
there are no hidden or unexpected costs (such as franchise fees) that will eat
away your profits.
This applies
whether you are looking at an online product such as an MLM or affiliate
scheme, or a more traditional product or service aimed only at local customers.
See useful Tips here… http://hollalaycan.blogspot.com.ng/2015/09/questions-you-need-to-ask-mlm-companies.html
Sure,
entrepreneurs is not an all comers affairs but for someone willing to put in a
reasonable efforts through hard work at the beginning, it is a pretty easy way
to create a business that will return a handsome income for years to come. There are many business consultants in the
world of "business opportunities". Many are run by "take the
money and run" types who make wildly exaggerated claims about how
successful you can be. But in many cases they have never actually made the idea
work for themselves.
As any
successful entrepreneur will tell you, your choice of products/services is
crucial to your success or failure. Many products and services are simply bogus
ideas with no hope of working. And many others are designed to produce maximum
profits for their creators, and minimum profits for people like you and me who
sell them. So no matter how hard you strive, or how committed you are to being
successful, if you choose the wrong product you will be operating with a burden
around your neck. If you need to know the top quality of an effective
entrepreneur, read more here… http://hollalaycan.blogspot.com.ng/2015/08/characteristics-to-be-effective.html
For your Business Registration, Business Plan, Brand Marketing, Business Proposals,
Strategic Business Development, Content Management,SMS and E-mail
Marketing, Expatriate Quota/Work Permits, SMEs start-up.
Contact us at:
Prospective Ideas Nig Ent
5, Atunwa Street Off Unity Rd,
By Custom Training School
Ikeja
Lagos-State.
+2348034201291; +2348170327317
ideasandprospects@gmail.com;
lekanolanite@gmail.com
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