03-15-2018, 04:29 AM
This is the formula that I apply in my life. Start with a job but end up with a firm business.
PHASE 1- HAVE A JOB
Why do you have to start with a job?
Mainly to earn some cash and be capable enough to start a business. Capability doesn't mean having money to start a business. The capital is not always the problem. Some people may have money but are not capable enough to start a business. Why? Some lack ideas, some lack skills and majority lack contacts. Running a business is about "what you know" and "who you know". It is about ideas and contacts. The skill is about how you play those two.
So where do get ideas and contacts?
Having a job is perfect to get those. You can analyze how your firm works. You can socialize with your bosses and colleagues. One of them may become a supplier, distributor or customer.
PHASE 2- HAVE BOTH JOB AND A BUSINESS
90% of new businesses fall on their first year. Raising a business is like raising a child. You don't leave them unless they are capable of living on their own. You need to support you business with more finances. Don't expect it to give you millions on the first months. Expenses might go over your income.
PHASE 3 - HAVE A BUSINESS ALONE
Why have a business alone if you can work and run a business at the same time? The answer is simple. Just look at the top business boomers. Who among them runs a business while having a job? None. If you want to be with them, copy them. You can still have a job, but this time in your own company.
PHASE 1- HAVE A JOB
Why do you have to start with a job?
Mainly to earn some cash and be capable enough to start a business. Capability doesn't mean having money to start a business. The capital is not always the problem. Some people may have money but are not capable enough to start a business. Why? Some lack ideas, some lack skills and majority lack contacts. Running a business is about "what you know" and "who you know". It is about ideas and contacts. The skill is about how you play those two.
So where do get ideas and contacts?
Having a job is perfect to get those. You can analyze how your firm works. You can socialize with your bosses and colleagues. One of them may become a supplier, distributor or customer.
PHASE 2- HAVE BOTH JOB AND A BUSINESS
90% of new businesses fall on their first year. Raising a business is like raising a child. You don't leave them unless they are capable of living on their own. You need to support you business with more finances. Don't expect it to give you millions on the first months. Expenses might go over your income.
PHASE 3 - HAVE A BUSINESS ALONE
Why have a business alone if you can work and run a business at the same time? The answer is simple. Just look at the top business boomers. Who among them runs a business while having a job? None. If you want to be with them, copy them. You can still have a job, but this time in your own company.