Do You Need A Business?
Having a business or not, is a valid question in current times. If there’s something that Covid-19 pandemic has taught us it’s that, anything can happen at anytime. 2020 saw many people losing their jobs and not just Kenyans but globally, several people lost their jobs overnight as companies downsized due to the lockdowns and COVID-19 restrictions.
However, during this same pandemic, we saw some businesses coming up. It is not easy to start a business and run it. If you have been wondering whether you need to start a business and quit your job or just have a curiosity as to whether you need to have one then this article is for you.
Click here to see some key things to do before starting your business.
Having a job is one to financial freedom. However, most people who have jobs still look for other jobs to substitute their income and make ends meet. While starting a business is not easy, it is an alternate path to financial freedom and most wealthy people in the world own businesses.
The beauty of having a business, is that you get to determine your own hours to work. You also get to be your own boss and determine how much you will make. The business itself may take time to pick up traction, but once it does you may just end up choosing to quit your job to be full time in your business and grow it.
There is no limit to how big you can become and therefore no limit to how much you can earn as long as you are willing to put in the effort needed.
Needs adequate planning
For your business to be profitable, do not just jump into it without planning. If you have a job, you may want to first of all keep your job while you plan for your it. Don’t quit your job until your business has picked up. Ideally, making enough to sustain both you and your business and have a cushion saved up in case of anything.
Sometimes people make the mistake of quitting their jobs too early and regret it. Plan out the details and save adequate money for it then proceed to launch your business. Some businesses may need you to be present from the day you launch until you are able to break even. If that is the case then all the more reason for you to plan ahead.
Pursuing your passion
If you love food, animals, photos, fashion or even writing! Your passion or hobby can be turned into a full time business and you can have fun while working! Most people who succeed at business found a niche they were passionate about and turned into a successful business. When you love what you do, you will not give up on it easily. You will keep working to give amazing results and work every single time.
Just because you have passion doesn’t mean you will automatically succeed. Commitment to your business is required. You will have to show up and be consistent with your efforts! It sounds fun to paint as a hobby or go for swimming.
However, when your work is teaching people how to swim or paint on a deadline then you will no longer have the luxury to do it whenever you want to. You now have to do it daily and be consistent if you hope to succeed!
The beauty is you get to have some job security because you are your own boss. The performance of your business is your responsibility. Therefore this will propel you to commit and make sure you keep giving quality services and products. This will in turn bring in return on investment and ensure your job security. The stability of your business is your job security as the owner.
Needs patience and adaptability
Remember that most businesses take an average of 3 months to pick up and become profitable. Therefore you will need to be very patient. In that time take note of mistakes and learn from them and have the ability to adapt quickly. If you have a job you will have to be ready to sacrifice some time after work to work on your business.
You may have to wake up earlier than you are used to and stay up late. Having the ability to adapt to change is necessary for every business and the owners. If you are thinking of going online read this article.
Exploring your creativity and learning new skills
The challenges that arise will give you the chance to not only, test your ability to adapt to change, but also to explore your creative ability was you solve problems that arise in your business. You may have to think outside the box a lot of the time.
When you are starting up you will also be needed to be flexible enough to learn new skills from basic accounting to marketing and probably even learning how to control and manage inventory effectively.
This may seem like a lot at first, but when you expand, you will be able to run it far much more effectively because you understand how every single department works! That’s how you are able to know your business better than anybody else and become an expert at your own field!
Whether or not you need a business is a question only you can answer. Some people reach success by getting to the top of the corporate ladder and working very hard for several years. Starting a business is an amazing journey that comes at the cost of sacrifice, consistency, planning and even having to be adaptable! However, the reward once it picks up can be unbelievably amazing to say the least.
We hope this article is helpful to you and has given you some clarity. Give us your feedback and tell us if you have started a business and if it was worth it in the comments below. Remember to also like and share the post with your friends and family!