Sunday 10 November 2013

How to be Self-employed and not go hungry


Self-employment is a roller coaster, but you can succeed


This is the part two of my recent article what I learned from my father. My father trusted people he worked for and it didn’t favor him though it is not the case for most people. That story prompted me to write that article and this one to make it complete. Working for yourself is not for everybody; there are leaders and there are also followers. 


1
In recent times we don’t often launch our ventures or be self employed by choice; we are actually pushed into it. The following are some of the reasons why we are often self-employed;

Unavailability of jobs; jobs are hard to come by these days unless through tight connections. There are some jobs that most people would not like to hear about.

Pea nut salaries; some salaries cannot help the worker to survive, the money gets finished within the week of payment.  

Unpalatable stories and experiences; there is too much victimization of employees because of high supply of workforce due to joblessness. This has reduced the respect for employees, while you are working; somebody is waiting for you to live.

Desire to be your own boss; everybody has this desire and those with the slightest ability to do business quickly cash in on this desire to commence their own businesses.

Limitation from working for somebody; some jobs take all your time so that you don’t even have spare time for your personal endeavors.

2
Almost every fresh graduate dreams big, yea very big and we want to be stars. We want to achieve and do it in a hurry. We are pushed to dream big and make it with the following reasons;

Family and friends; immediately after graduation, everybody is expecting you to be rich, sometimes they even discourage you from starting your own job. In my case, most adults said ‘Claus is now free, very soon he’d be driving his car’. And they look at you some way when they see that nothing is happening. You too would like to live up to expectation.

Friends success; as old as we are friends still have the power to influence us. Especially when you see a friend do what you've been wanting to do for a long time. A friend’s success also gives you the incentive to start your own venture because ‘if he made it, I am likely to make it too’.

Our dreams; self assertive people have the potential to follow through with their dreams; not everybody is able to have the courage to rise up to fight for what they want most in life.  
The threat of falling out of favor with loved ones; when you are broke it is difficult to be recognized in the family.

The threat of been denied what you love; a girl you are in love with can make you want to do something that brings high returns. It is quite common these days for ladies to go behind the back of their man when the cash and luxury is not forthcoming.

3
Having said all these, there are some people who don’t want to work for anybody except themselves. If you want to be a public speaker, how can you work at a company that takes all your time? So in some situations you are forced to go solo.


I want to stress here that managing your own venture is very difficult, but it is easier if you had no choice. If you quit a good job and tried to do your own thing, then when you face any challenge it is not uncommon to vacillate, you’d always be considering whether to go and beg for your former position. Here are some of the troubles you are likely to go through;

·         Financial hardship; believe me, you would face financial hardship a lot. Sometimes hunger and excessive bills can be can be a headache.  

·         Self-doubt; at some point you’d doubt yourself, this happens when you've met failure several times.

·         Struggles; brace yourself to sacrifice your comfort for your venture.

·         Failure; you are likely to meet it very often, the best you can do is to learn from it.

·         Rejection; happens when you are not doing well.

4
Don’t be scared because great names in the present and past used this avenue to amass great wealth. Founders of windows, twitter, Facebook and other serious ventures who were rich and are rich now, some were school drop outs. One thing common with these people is that if you are a drop out you have no certificate to look for a job. You can make it too. It would be in your own interest to have these conditions in place if you are to run your own venture;

Be engaged in more than one business; you need to cater for yourself and family, don’t put yourself and family through hell just because you want be a star. Work to support yourself, family and  business. One product should be a question mark and the other a cash cow.

Be a person of right character;

 Dedication; no matter how skillful you are, if you truant, lazy, on and off , your skills would amount to nothing. Work hard! There is no shortcut.  

Patience and perseverance; success doesn't come cheap, you wait patiently for it.

Commitment; once you put your hand to the plough don’t look back.   

Be studious; though I learn a lot, yet I still feel I know nothing, I read every day and so should you. Read in the area of your troubles, look for practical guidelines you can implement quickly.

Work in a team ; working alone is a great limitation.

Engage in partnerships; it’d make things easier for you, two heads are better than one.

Be abreast with latest business practices and benchmarks; what is your knowledge about marketing, accounting, management and leadership? you don't under estimate these things. They are the difference between failure and success.

Take finances seriously; without provisions for money, your dreams would permanently stay in your head.  

Don’t forget to plan; if you plan you can measure your success, programme your activities and anticipate hurdles before they set in. Every serious entrepreneur plans.  If you can’t do it, get professional help, a student can do it for you, I can help you too.  

If you believe in God pray; you need to, I recommend it.  

I wish you Godspeed if you are pursuing your own venture. The path to greatness is only for people who have the courage to follow their dreams and see it fulfilled. Please kindly share this article.

Thanks for reading.

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