There are important things you need to understand #BeforeYouQuitYourJob to start a business. I know many people are tired of their jobs and want to be “independent” but calm down and see if you can learn one or two things here. #thread
#BeforeYouQuitYourJob to start a business, you have to@understand that running a business is hard. Forget all the exciting stories you read about entrepreneurs. It’s bloody hard. There is nothing exciting about starting a business and people not buying from you.
There is nothing exciting about putting all you have into a business, building it for years, only for it to fail. There is nothing exciting about not knowing where to get money to pay your friends you begged to work for you and accept your less than minimum wage salary.
#BeforeYouQuitYourJob, understand that there is nothing exciting about the fact that you have only about 10% chance of success. There is nothing exciting about your in laws bearing down on your neck to go and get a proper job.
#BeforeYouQuitYourJob, know that as an entrepreneur, you stand a chance of losing everything. You can lose your savings. Your health can suffer. Your relationships can suffer.
#BeforeYouQuitYourJob, you have to understand that it is not a strong enough reason to start a business because you don’t want a boss. The truth is that you will always have a boss. Except you are the president of the United States, you will have a boss.
As a business owner, the tax man is like your boss. If you operate in a regulated industry like mine, your regulator is your boss. For example, CBN is the boss of banks. You will always have a boss. Understand that #BeforeYouQuitYourJob
#BeforeYouQuitYourJob, understand that you cannot go into business just because you need money. Entrepreneurship is not MMM. You might not make money until years after. So if you are looking for money now, business is not for you. Get a second job.
#BeforeYouQuitYourJob, you have to understand you will work harder and longer than you are currently doing at your job. Now, you don’t care what really happens with the company, the only thing you care about is putting in your shift and getting your salary.
When you start your business, you will be working before your staff start work. You will be working after they have gone home. You will wake up in the middle of the night thinking and working... despite not sure of making a profit. Think about this #BeforeYouQuitYourJob
#BeforeYouQuitYourJob to start a business, understand that learning a skill does not mean you will do well in business. Learning how to develop a website does not mean you will have a successful web development company. Many people can make better burgers than McDonalds...
But how many people can build a raging burger business. Learning a how to skill is not enough. You need to study business growth and development, marketing and so many other ingredients needed to succeed in business. Think well #BeforeYouQuitYourJob
Oya... add your own. I’m tayad.
