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Dare to start your own business

Dare to start you own business

Dare to start your own business

To start your own business, think out of the box and dream big because our dreams push us forward, to do something unique, some think new, which was not done earlier by our parents, brothers, friends, and relatives. Always think that you are unique and that nobody is like you, you are the luckiest person in the world because you have a power of positive attitude, what you think nobody can think like you. You are great.
The hardest thing in the world is the beginning of any work and the easiest way is to think. Thought is the foundation of the beginning, so now a step that you have already started, that is to say thought.
Now who is your strongest enemy preventing you from starting any work or own business, that is to say nothing but your fear, a fear of failure. So, fear is your strongest enemy, so obviously friends of fear would be your enemy. Now who are they, think about it, it could be your parents, your friends or someone who demoralized you and prevented you from "starting". But why they demoralized you, could be some of them encourage you to "start", yes it is possible.
But these people are very backward, because when you share your ideas for a business with someone from above, they think from their point of view, they relate it to their experience, they can underestimate your power, etc. So, the first business rule is never to share your ideas or your business plan with your friends or anyone.
Now here in this article, we are going to try to figure out which one is the best, one job or one business, what is needed to start your own business, how to select the best business, what type of investment required for startup, when to start or invest, what are the rules for becoming a successful entrepreneur, how to deal with the client and what to do for a sustainable business.
It is true that starting a business is risky, but if you look at the current state of the labor market, wages, and the cost of living, finding a job is not so secure. Therefore, believe me, getting a traditional job is riskier than starting a business.
In this article, we will compare the advantages and limits of salaried employment compared to own business. This article will definitely give you answers to all of your questions, viz. Why do people start their own business?, What inspired you to start your own business? ,  am I capable of starting my own business?, how much to start your own business?, when is it time to start your own business?, how to start my own business from home? and much more.

Own business vs job

My business definition is to sell something to make money, and then divide that money into assets and liabilities. Convert more money into asset and  less in liability and this management helps the sustainable business. Smart businessman able to sell anything and convince the customer to buy something that was not really necessary at the time.
Employment or job is also a type of business, here you are selling your knowledge and your skills, to get earn money in the form of salary. But here, the income is fixed, you don't have the freedom to make your own decision, you have no control over the culture of your office, your boss can be good or a political actor, you have to wait for the holidays, so your life is not yours at the office, someone controlling your life in office, growth is dependent on your performance and the wishes of your boss and is also limited, but life can be cooler, stress free compared to businessman.
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Now here you can see, what was your investment, it was 10 years of your school and college education and then no other investment, 100% profit, because to get a monthly salary you don't have to invest money directly what you invest is your time. Here, competence is your asset and liability can depend on your lifestyle. Education was your one-time investment, then you add free experience and make money until you get employed. But nowadays, there is no job security that is the downside, otherwise life is happy if you conclude that you do not have many expectations of life and that you do not want to become rich. If you don't want to get rich, job is the best option.
The good thing here is that your employer will cover everything related to your insurance, medical expenses, and other responsibilities. If you are government employee, you will get a pension, so your life is secure but within a fixed limit. You will always be in the middle-class category; you will never get rich.
Now if we see having the own business part i.e. want to become an entrepreneur, you need extra effort, you need investment, you have to spend a lot of time succeeding, you have to be a hard and smart worker, you have to maintain good relationships with people, you have to study the current market situation and demand and trend, so you need its unlimited quality but you will own it, you will have freedom, no gain limit, it will depend on how hard you can work and grow.
You have your own control over your work, you can make the decision you want. But you have to manage everything by yourself, you have to manage your insurance, medical and retirement plan.
So, below is a broad summary
Own business
Fixed income/ salary i.e limited earning money
No limit of earning
Increment very less – unnoticeable
Depend on profit, may be huge rise, double, triple, 10 or 20 times more than salaried person depend on hard and smart work
Work time restriction – generally 8 hors per day set by your employer, you don’t have control over it
No time restriction, less or higher depend on you and type of your business.
You are employee and working under your boss/ employer
You are owner, you are boss
You have to follow the rules set by employer – you are follower
You set your own rule and others has to follow
If you want to implement your idea, your boss has to give the permission/ approval
You can go beyond the limit, you can implement any idea to make profit for you, ultimately you are owner
You must answer all questions raised by your boss
Nobody dare to ask you
After retirement, source of income is uncertain.
No retirement, its on your wish to retire from your work
Own identity is not much visible in society
Your own identity in society
Learning opportunity – limited to your depratment
Learning opportunity – multilevel, all department
Risk of job loss
Risk of business loss

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Why do people start their own business?

Service / work i.e. being hired doesn't give you job security in today's world. While for businesses, if we move quickly to today and for the foreseeable future, not only are you competing with people around the world because you can outsource anything anywhere now.
If your work earns you € 40,000 a year, plus benefits, including paid vacation, time off, weekends, etc. To do some work, they can spend € 200,000  up front to automate or even a million euro up front to automate, work, they fire you. We can say that this is just the beginning of the automation stages where big companies are trying to be leaner because they don't want to have to pay for your benefits like pensions, vacations, expenses medical, etc. Therefore, they try to automate everything they can.
If you are a good entrepreneur now, you are in charge, you do not have to hope and pray that your boss does not go out and find someone on the other side of the world to make your work cheaper and you don't you have to hope and pray that your boss will find a way to automate your work or hire a robot and without going too far you don't have to drop everything and leave everything to start a business .
Starting with business life, work is relatively easy, and it can be a comfortable and easy time, with few responsibilities. Now this can be a pro or a con, depending on your personality. If you really want to stretch your skills and be pushed out of your comfort zone, this may not be the way for you. You may think that your talents and abilities are wasted in your standard 9 to 5 work. The structure and rigidity of having a regular paycheck and knowing what to do and when to be there is an element of comfort for many VIPs . It is not a bad thing and it is purely normal; it is just human nature to want security.
For others, the idea of ​​a fixed time, a fixed salary and no flexibility resembles a noose around the neck and are not constraints with which they are comfortable. This stability is also found in the linear path of the company to success, where if you put time, you will progress and be promoted to better positions. This is considered a safe and stable path, with little risk of backing up. Another important factor is downtime.
In a corporate or standard work role, when you are not at work, you have done your 8 hours for the day, so it is free time. You can relax, spend time with your family or enjoy your leisure time. No one expects anything from you until you return to work, and it can be a healthy, stress-free way to live. You can maintain an excellent work / life balance by doing the things that make you truly happy in life.
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So, let us see how to be an entrepreneur in comparison. Now there are several great plans that can make entrepreneurship so attractive to the right person. First, is the potential for great reward. There is no limit or cap on your earning potential, and your reward is purely the result of your hard work. Of course, that does not mean that the reward is guaranteed. Entrepreneurship carries a significant risk, and that risk is that you spill your blood, your sweat and your tears, and there is no reward and the business fail.
Start-ups present an intrinsically high risk of failure, if you are not averse to risk and are excited by the possibility of significant rewards and profits despite the inherent risk, you probably have an entrepreneurial mindset. Another great thing is that you have the freedom to work where and when you want, and the power to make all the decisions. You are the boss and the responsibility end with you. If you want to take your laptop to a cafe and work, you can do it. If you want to escape for family events or spend more time with the children at home, everything becomes more possible to control. You have flexibility and freedom. But that does not mean they are all cappuccinos and downtime. Entrepreneurs can work huge hours, often double what they would do in the corporate world, and then add weekends as well. Many of them report working while they have dinner, while they are at the gym and even while asleep - dreaming of their business. The work of an entrepreneur never really stops, you are always on time. This can have the opposite effect and you end up having to sacrifice a lot of your personal and social life to follow your passions.
The other key factor in entrepreneurship is that you can do something that you are really passionate about. You will never be bored and can fully commit to your work, which is rarely achieved in the professional life of the company. You may be able to find the ultimate in job satisfaction by following your dreams and passions. Of course, the difficulty is that in many cases you will have to do without income first, and perhaps live off any savings you may have, while going into debt to start your business. You don't get super benefits, medical or any other pension fund. You are financially independent. This can make it difficult to start a business with a mortgage and children to feed, but in many cases, you can start small and grow to mitigate some of the risk. And finally, keep in mind that entrepreneurial skills are timeless. Some entrepreneurs start businesses just for the purpose of selling them and they start over. Unlike a standard corporate job where your skills could be related to an industry, entrepreneurship will develop your skills in all aspects of the business, which can easily be continued in other future businesses.

What inspired you to start your own business

Your desire to do something different from others, your big dream and your passion to set an example for others, you don't want to follow others because you are here in this beautiful world for a purpose, you are here to become leader and not follower, you want freedom and you don't want to let someone decide your lifestyle, you want to build your personal brand value because you are unique, etc. A big dream, a passion, and a unique character to become rich with a respectable brand value motivate you to start your business because you cannot achieve it by serving for others. You don't want to put your efforts into making others dream for life for a few cents.
As you can see, by looking at business life and entrepreneurship, one is no better than the other. It all depends on your personality, your risk profile, your motivation, and your passion for doing something different. If you need to feel secure and have stability in your life, then the career path in business is for you, and it is the majority of people. But if you can accept the risks, want to double up with the biggest bet of your life, and live life in fasting, then you might be ready to be an entrepreneur.
We make a living doing work. This work is called our business. We all want to do the work in which we get more money and have to do less work. But this is often not possible. Therefore, we must choose a business that we have the capacity to do and that interests us.

What requires for starting your own business

Big dream, vision of life, dedication and passion, these four things are necessary to become a successful businessman and become rich, you may be surprised that, without investment, there are some business. You may be right, investment is very necessary, but there are many business where investment is not required or negligible, such as becoming an agent or broker, consultant, selling your knowledge, etc. requires no capital investment. But here we will cover more on the big dream, to become a rich man.
So, first of all, it's a big dream or a big idea, so, from where you will get a big dream or a big idea. Do not depend on others, nobody will give you, it is already with you, your hobbies, your passion itself are your big dream.
Now, what about vision, something you want to achieve and to what extent. If you want to start your own business, then at the initial stage, i.e. before starting the business, you need to decide your goal, to what extent.
Now, what is passion, it can be your interest, your hobby, or your anger. Believe me, anger is a very powerful thing, you must be an angry man, because anger can develop the quality of stubbornness. Anger can make you the most passionate person about something.
You also need a support and mentor team to guide you. You can hire a professional consultant who is expert in your planned business. You need to develop multitasking capacity by collecting information while surfing the Internet.
Develop professionalism and be presentable so that you have to organize the business card, website, professional email to treat the client in a professional manner.
Be perfect in legal obligations, comply with all legal requirements related to your business. You have to register your business and manage the taxation, best legal expert for this.
The last one is the investment, it depends on the type of business you want to establish and your life goal. No one can decide what your passion or dream should be and how far to expand your vision.

How to select best business

As we said before, your dream and your passion decide the type of business you can start. So, you need to collect all the information about your own business. You could get 90% information from the Internet. But I still give you some ideas on what type of business is best for you.
In business, we have to sell something to get the money, we will get the money after the sale, so the best business will be what you make or provide services or whatever, there has to be a minimum delay. Let me explain with an example. Suppose you make delicate bottles or disinfectant and it took 6 months to sell 100%, then business is not going well. Suppose you put 3 months to sell the whole lot, then it is not a good deal either, if you can sell the whole lot in 1 month, then the business is pretty good, when you sell the whole lot in 15 days it is acceptable, it only takes a week to sell the whole lot, then the business is very good and if you produce in the morning and sell all evening, this is the excellent business.
So, in summary, the business in which it takes very little time to sell all of the aggregate inventory is a great business.

When is it time to start your own business?

When to start a business ???, ideally, there is no specific time to start your business, but it should start once your business planning is complete and you are fully satisfied with it. Business planning should be based on your capabilities, market conditions and demand, current trends, customer identification and relationships, and more.
But since it is planned to start your own business, the most important thing is that it must be related to a hobby or a passion, then only you can work hard and support your business with pleasure. The second thing is your vision, it means you have to decide how far you want to fit in your baby carrier, the limit of your height. Always dream big, then decide the goal of your life. Because without a goal or if you are not clear about your goal, you cannot find the right path and orient yourself less throughout your journey.
Let's try to understand with the example, suppose you want to build a house, then you first need to decide how high it would be, how many floors would be theirs, because it will design the foundations of your house. Once you have built the house and want to elevate yourself, the foundation will not support the load and the building could collapse. So, you must define your target vision / objective of your business before start-up.
If you want to invest in the equity market, the recession in the global economy is the best time to invest. This is the time when you can get a valuable share of reputable organizations at a very cheap price. Or if there is no slowdown in the world economy, then whenever there is a rumor of bad news against a very reputable organization and the stock price drops by 30 to 40%, so this is also the best time to invest in it.
If you are a university graduate and want to start your own business, you need investment, dedication, consistency, time and experience, so it is best to do a job initially for 2-3 years. , save money, gain experience and start your own business. You can start something with your work slowly and secretly, part time until you are ready to quit your job.
Now it was still philosopher language and you are not satisfied, so the direct and practical answer is "Start your business at a time when the global economy is in a period of slowdown or national recession". There are two main reasons behind this idea, one is that you will get inexpensive row materials and low investment value. Second, due to the economic downturn / recession, your competitor may not be able to prevent you from starting your own business.
The recession is the perfect time to start a business with extraordinary ideas and real vision and determination. If you start a business in recession and it survives indicates that you have successfully created a service or product that truly meets the needs of consumers, you probably have your price structure in place and you certainly have a lower cost base , that means you will have a lot less competition. When the recovery ends up coming and despite the fact that there are all kinds of absolutely horrible headlines out there despite the fact that there is a world in trouble but you manage to manage your business in relation to others , so before the rise of the others you will be one, two or three years ahead of them. If you can survive the tough times, you will thrive in the good times.
If you start your own business in younger age, you have fewer obligations.
In summary, when all people are afraid to invest in the market due to the global or national economic downturn, this is the best time to start your own business or invest in the market.

What are the rules to become successful entrepreneur?

A successful entrepreneur means managing the business sustainably while balancing work and life. Who loves work because this particular business is his life dream, it was his passion. We cannot say that someone makes billions of moneys in a very short time, so they are a successful entrepreneur. Consistency in growth and sustainability with the enjoyment of life creating respect and values ​​is important for becoming a successful entrepreneur.
Now if you want to become a successful entrepreneur, here are the rules
Rule # 1: Never discuss your ideas and your business plan with your friends or relatives, they can demoralize or sell your ideas or become your commercial competitor by implementing them before your implementation.
Rule # 2: Stay away from unhappy or sad people, as they can make you unhappy or hopeless. You have to help them, but don't try to spend a lot of time with them or try to share your knowledge with them. Their negative spirit can infect you.
Rule # 3: Be selfish, if you want to run your business sustainably, you have to be 80% selfish.
Rule # 4: You must be a 50% bad man, that is, not too honest. Let me explain, someone tells you to go to the forest and bring a good tree. What will you do, you will go into the forest and then you will start to cut the tree straight. Of course, straight trees are always cut first. So always keep in mind that this person should not be too honest because they are screwed first.
Rule # 5: Be up to date with the current market trend. Don't depend on just one type of business, there should always be a backup. Suppose there is a loss in one business, then another business must support you to maintain your life, so diversify your business.
Rule # 6: Be interdependent, it is a combination of dependent and independent. You run a business, so how do you get away from your client's company or your competitors?
Rule # 7: Don't disclose your weakness to anyone, or your competitor could ruin you.
Rule # 8: You must invest constantly to ensure your retirement and pass your business on to the next generation. You must also invest to develop your children, your wife and your loved one to remain interdependent to manage your business after retirement.
Rules # 9: Destroy all your competitors who are dangerous for you.
Rule # 10: Always work to become the leader in your business type with continuous innovation.
Rule # 11: Always maintain the ethics and the value of your business, be respectable.
There are so many rules for becoming a successful entrepreneur that you can learn with experience.

Things to keep in mind while making the choice

Today, many people around the world work in professions for which they are not qualified. Therefore, we have to think carefully when choosing a business. The most important thing to pay attention to is how our nature and our interest work. The second thing is physical capacity. The third important thing is whether we have the right tools or capabilities to adopt this business and succeed.

Am I capable of starting my own business?

This is a valid question, and most people are stuck in it. Because people learn from their parents, relatives, friends, society and from personal experience. Then whatever plans you have to start your own business, people discuss with their parents, friends and relatives. If these people are in the business category, definitely support you, but if they're in the service category, that is, employees, then 90% of people will demoralize you and prevent you from realizing your desire.
So, believe in yourself, there is nothing wrong with taking suggestions from others, but you have to make a decision for yourself because life is yours. How can you make the decisions of your life? You have a big dream and a strong desire to do something, you have passion so no one can stop you from reaching the top of the ladder, only thing, first to decide, how far you want to grow because it will decide the foundation of your business.
So, dream big and start your own business, the hardest thing in this world is to start anything, but once you start, the roads open automatically.

How much to start your own business?

Before you start your own business, your planning should be risk-based. You have to take risks, but it has to be calculating. Do not put all your money on one time, start with a small one taking into account that in the event of loss, you or your family should not suffer seriously. Before you go into business, you must have a backup plan. If you have planned a part-time business with your job or another business, it will be better.

It is better to start your own business and success depends on your vision, your dedication, your passion, and a big dream. Starting a small business with a part-time job or with your job is a good idea because of the low risk. If you are a graduate, get a job for 2-3 years first, have experience and save money, plan business simultaneously, collect all relevant information about marker trend, global and national scenario , surf the Internet, collect information about your expected customers, then start small so that, if it does not succeed, you can defend your efforts. The recession is the best time to invest and start your own business. If you want to invest in the stock market, the recession or the slowdown in the global economy is the best time to get the cheapest stock value. Best of luck and dare to start your own business.

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