Amazing day to you friends, this topic is a real headaches to majorly people already making a living working in a company or under an employer and these are the major reasons;
1. The company might be folding up
2. Their contract or tenure with the company is ending and might not be renewed
3. They have passions that is pushing them within and causing a disruption and dissatisfaction only them can understand (This happens regardless how much one is earning)
4. Salaries being paid is not solving the problems being accrued or delay in salary
5. Job insecurities and lots more
I decided to write about this because of the state of the world economy in general where job stability is getting to be a thing of the past.
In Nigeria alone, reports has it by Nigerian association of chambers of commerce, miners and agriculture that more than 800 companies have folded up in the last 2years as a result of economic depression.
As Robert kiyosaki would say, we have been programmed to study in school, get good grades, get good jobs and work hard to create a good retirement plan.
For me, that’s not a bad plan at all however, times are changing and along with it are the terrains of work and businesses.
Job security no longer exist and in this era of mass retrenchment, companies folding up and other mishaps, one have to ask, What will happen? What will you do? How will I survive?
So it doesn’t seem like I’m babbling, I’m going to give you examples of companies that folded up recently both in my country and internationally.
¤ Etisalat Nigeria
¤ Newsweek: The second largest American magazine with over 2million readers.
¤ Hollywood video and so on..
So what’s the solution? Simple!! Do the impossible!! Continue your work while you build your business.
Challenges involved in building a business while working
2. TIME: Work hours for most companies is always between 8:00am – 5:00pm. So it’s hard to be available to participate in the building of the business and this is very paramount because leaving the business in the hands of others can make the business collapse before commencement.
3. SERIOUSNESS: For someone whose livelihood doesn’t depend on the business to be created, they tend to make it an hobby as the do or lose it all attitude will be lacking.
CREATIVE WAYS TO SUCCESSFULLY START DESPITE CHALLENGES
1. BE CRYSTAL CLEAR ON THE TYPE AND NATURE OF BUSINESS YOU ARE VENTURING INTO.
This is very important because truth be told, there are some types of business which needs the undivided attention of the owner.
I personally recommend online businesses which you can start, monitor and grow while working in your office.
In the case of businesses like trading where you need to purchase and sell, the only way is to get a Trusted person who will handle the business for you but trust me, getting a trusted, intelligent person to carry out the business like you will is a great herculean task.
2. INVEST IN TECHNOLOGY: The few CEOs I have met that works and have companies under them are people that makes use of techs and social media to run their affairs.
For example, i met a man that have meetings with all his managers via Emo every monday while others could do tele-conferences.
We have CCTV and I know of a transport trucks owner who wired all his trucks through a tech company and gets live feed on the movements of all his truck’s movement. A lot more can be gained depending on the type of business one is starting.
3. DO IT BIG: One of the advantages of working is you have access to finance which is the biggest challenge of sole entrepreneurs. You have the finance or can get access through loans, savings etc..
You also have work experiences you can put to use and networks. You have all this powerful tools that can take a starting entrepreneur years to acquire. Why not make use of them?
4. TAKE YOUR TIME, PLAN YOUR TIME AND TEST THE GROUNDS:
I love to be sincere to myself and this has helped me in my business.
The reality is, Rushing to start up a business while working can be too tasking for your health in general, so while building a business, don’t ruin the existing work which is less risky at the moment and more stable at the moment.
You are trying to create a system you can retire to or a side support to your work which though must be taken with all seriousness
However, don’t starve your present work of attention.
Secondly, working gives you the added advantage of taking time to test your ideas and getting response, creating a format that can hint you partially the level of success it can pull.
5. OVERCOME THE FEAR OF THE UNKNOWN AND START ALREADY: The greatest deterrent to starting is the fear of ‘what ifs’ which might never appear.
If not for survival, there is the joy of creating a concept that helps or improve humanity.
Fear cripples and without overcoming fear, laziness, procrastination will reign and nothing would be done.
Even if no action is taken yet, take your time to plan it all from idea to execution. Take a leave and sought out consultants, schools, take up a course (online and offline) that will solidly prepare you for what you want to undertake. Just do something already and be secured!!
Thanks for reading!! As I would always say, please read and share and don’t be shy to ask questions. Would love to hear from you.