Traditional employment v/s Entrepreneurship

You meet a lot of young people in the country who despite possessing sufficient experience, still don’t have the confidence of stepping into the world of entrepreneurship. It is understood that entrepreneurship is not every one’s cup of tea however, there is little doubt that in most cases it is only fear that holds people back from experimenting with their life.

Here is a look at top three reasons that originate out of fear and force most people to give up on the idea of becoming an entrepreneur.

Fearing Bankruptcy

In a lot of cases pay cheques ensure survival but do not allow to dream beyond a certain limit. With little or no reserves the idea of an investment for a start-up sounds ridiculous and the fear of going bankrupt is the first thing that comes to mind.

Lack of funds is definitely a problem but not the kind that doesn’t have a solution. One way of dealing with it is to take a partner on board. Be it the university where you have studied, your workplace, your neighborhood or even the smart phone that you possess; look closely and you will realize that there is more than one contact with whom forging a partnership is a possibility.

Take your time and think of an idea. Meet as many people as you can but do not present half cooked ideas to the potential financers. Also bear in mind that everything takes time so there is no point in losing hope after a couple of unsuccessful meetings. Additionally, since its time and not capital that you will have to invest the fear of going bankrupt should disappear automatically.

Fearing Hard Work

For most people the best part of their day is as good as over once they return back home from their work place. Several individuals would complain that after a hectic routine in the office they do not have enough energy for anything else. This might make a lot of sense to an average person still, nobody manages to go up the food chain without burning midnight oil.

Each day has 24 hours and reserving 2 to 3 hours during the work days and 10 to 12 over the weekends for a year or two should be just enough to allow you a much better routine for the rest of your life.If you really want to be successful stop fearing hard work!

Incase, you are stuck and the job requires you to work for more than 8 hours; doesn’t matter how long it takes, don’t let go of the dream and look for new job or again take a partner on board who can manage stuff while you are away.

Risk Factor

An unpredictable monthly income is probably, the biggest risk that comes with entrepreneurship.It is understood that any given start up cannot guarantee immediate profits. Traditional employment strategies on the hand, offer a definite amount each month making them sound a much safer option.

Here it is important to realize that even the most lucrative job ever, can only assure a certain percentage in savings whereas once successful there is no limit to the profits your own start up can generate.

Furthermore, the security that comes with a job in reality is only a hoax that allows your nerves to calm down. Be honest to yourself and understand that you are only a company policy away (such as downsizing etc.) from losing a stable monthly income (which shows why it is not as secure as you perceive it to be).

Still, there is no harm in holding on to a job until your own business settles down but then there is also no point in not initiating your own thing when you are actually in need of a solid backup.