Over the past three years of speaking to people about business development related issues, a question has kept recurring: Is it better to own a business or work for other people? Believe me there are no easy answers because circumstances are usually not the same; but a few statistic should throw some more light.
In the United States of America, entrepreneurs represent 99.7% of all employers. I believe strongly that the world has come to a point where there should be no job seekers and unemployed people. There should always be people who will provide the jobs. The benefits of being an entrepreneur far outweighs an employee. Being an entrepreneur is being a pioneering, innovative, creative someone who provides new services and products for the consumption of others.
Entrepreneurs create jobs for other people, and bring down employment rate. In the United States, for instance, it is not the government that creates jobs but the people. Entrepreneurs there employ about 53% of the private work force, make 47% of all sales, provide 55% of innovation, and represent 96% of all exporters.
Most third world countries are in debt because they consume more than they produce. The main focus of every economy I believe should be to export more than it imports and this feat can only be achieved if we have more entrepreneurs churning out products and services that solves and meet people’s need. Your name can be a label on fantastic products. Honda is someone’s name; Kellogg is another person’s name.
Finding a Business to Start Is Easy
But what should I go into you ask? I even don’t have an idea you say!
Oh yes you do!
Do you have problems? If you answer yes to that then you have a business idea. Every business you see on the surface of the earth is a response to a human problem. Because the world is in such a hurry, we have fast food. Because we want to keep memories alive, we have cameras. Every innovation in this life is a solution to a human problem.
I advice you focus on solving a problem or meeting a need. You do this by identifying the problems or needs in your immediate environment. In fact to make it easier, be sensitive of your own needs. What are the things you need that are not available or within reach? In a sense, your needs are everybody’s needs. Most of the things you need, most other people also need. Let me tell you this; there’s a ready market for the solutions you create to cure your problem!
For example, if you need a 24hrs delivery service, there are many other people who need that too. If you need a website to communicate your idea and market your products, every other business also needs that. What people consider to be insurmountable problems are usually gem of opportunities waiting to be packaged into ideas that would bless other people. Problems are the raw materials for creating businesses. The author of Think and Grow Rich Napoleon Hill once said that in every problem, there is always an equivalent seed of benefits; we only need to look closely to find the seed. In a sense, your needs reflect every other person’s needs. Like I advice above, simply focus on solving problems; you will be amazed at how many business ideas you can generate.
Your Interest Can Be a Pointer
It is very likely you will start your business in your current line of interest. One of the places where people are defeated is in starting where they know nothing about, and this defeats one’s confidence. It is, usually difficult to make a mark outside your area of gifting. It, therefore, makes sense to start from your area of competence and interest. If you are a software programmer, look closely around you, you will discover problems you can package into business ideas; if you are a scientist, there are many problems awaiting your invention. There is no career that is inferior. If you are into interior design, strive to be the best creative designer in your area. If you are a driver, with all diligence strive to be the best. If you try to add value to the services you render to people, they will always put you on their priority list. This is guaranteed.
Your Hobby Is Equally Important
You may also start out in a line of your hobby. If you work in CNN, you may not start by owning a cable network, but along the line, you may discovered some other interests. We have seen trained architects turned blogger like Pat Flynn of Smart Passive Income Blog; many trained scientist are making it big in the technology industry. You too can turn your hobby into something remarkable. I know someone who loves baking and has gone ahead to start an enterprise. Some few years ago, he baked a cake for a sewing mistress in the form of a singer machine and charged $20,000 for it.
Improve Existing Services
Looking at the existing service everyday, there are things you need that are not available. You can just locate those things to start with. If you are willing to provide better and excellent services, chances are you will find some business to do. If you are talking about excellent service, there are myriads of opportunities you can grab. All you need is look at what is being provided and decide to provide a better quality service. Being creative and innovative is the key to improving existing services.
Not every university in the world prepares people to start jobs; they prepare them to look for jobs. The thinking has to change. Education should not be a disadvantage but an advantage, so that we will be able to manage opportunities better than those who do not go to school. I believe that’s why people like Bill Gates and Mark Zuckerberg did not wait to finish school. If they had waited to finish at Harvard, who knows may be they would both be employees today. What that means is that, there might be no Facebook and Microsoft.
I challenge you today to have a re-think and pursue something much more fulfilling and gratifying. Don’t wait for what you can get; rather think about what the world can benefit from the product you create. Resolve not to live a mediocre life. Get involve in something that is bigger than you. Lead a crusade. Champion a change. You can be the next Richard Branson or Donald Trump. Rise up to the challenge of creating a future for yourself and start working towards your vision of your life.
The future belongs to those who seize it. Will you?
In your own view, do you think it pays to be an entrepreneur? Would you rather love to work under someone or be your own boss? Give us a piece of your mind in the comment box below.