What does it take to own a business?
It used to be the norm to go the university, graduate with good grades, get a good job and start 9-5ing with a single job or shifts. But now, most people are approaching that path towards earning a living with a mindset of starting something no matter how small for themselves. People bag degrees but want to be their own boss by exploring the world of being an entrepreneur which leads them into starting off with the available resources and channeling all other logistics towards ensuring the growth of such business into a synergy.
In Africa, most people earn a living by working for themselves. With the rate of unemployment in the formal sector, it has become the usual for the government to ring at the slightest opportunity and further reiterate the fact that people should start something and be the creator of their means of livelihood. However, I am of the belief that not everyone is built for that course.
Owning and managing a business goes beyond just investing in a particular business as there are qualities attached and considerations to be made before taking that bold step to avoid the outcome of such being a total disappointment. Most of us must already be nursing the ambition of owning our own businesses and becoming an entrepreneur, but before delving any further, you should take a cup of tea, relax your nerves and go through the infographic below in determining if that move is right for you.
Conclusion
I hope you are better enlightened now to the factors to consider and things to look out for in deciding if you are right to start up your own business. If you didn't meet up with the necessary criteria, you might have to re-evaluate if starting your own business is a logical risk to take. If you did, then floating that business should be your next call...
The inclusion of info graphic was spot on!
I’ve tried started a business and it takes a lot of planning and preparation and time. All of which things I hate 😂.
I’ve come to conclusion that everyone can do it but not anyone can do it. Meaning you have to be ready to change yourself, lifestyle and go to lengths you haven’t gone before to succeed in doing a business.
Sometimes you won’t recieve a fixed income which is not ideal if you need money ASAP for pay bills, however you do need some money to keep up hopes that it’s going good or at least be making some sales.
It’s a lot of planning and effort and only some people can do it. Because if it was that easy, everyone would be doing business.