Many people are living in silent desperation, hoping to achieve something better from their careers. They go to work, going through the same routine day in, day out, yearning to become entrepreneurs.
I think most established companies will be surprised by how many of their employees want to resign to start their own thing.
Unsurprisingly the key motivator for this is a need to make more money. Another reason that drives many successful entrepreneurs to embark on this journey is an unquenched need to come up with something better than what is currently in the market, or identifying a niche they can exploit better than most.
Adrian Gore, the Founder of Discovery Holdings, jumped ship because of an innovative product he had in mind, and look at what Discovery is today.
However, be careful of the fallacy that making your own money is simple. Forex trading is a good example – many lose thousands of dollars in their attempt to create an additional income with this market. They are attracted by the lifestyle these traders show off on Instagram and YouTube – the majority of which are fake – and burn their fingers trying to replicate the supposed success.
For people around the world there are generally three great regrets in life. The education they did or didn’t get, the people they marry and the careers they find themselves in. Regarding careers, many are constantly looking for a way out. Venture capitalist Peter Thiel talks about the conundrum of a job at a Wall Street firm: while people outside want to get in, those inside want to get out.
Let me address the differentiation between being self-employed and being a high impact entrepreneur. Being self-employed is where your business cannot exist without you, like a doctor running a practice. True entrepreneurs put systems and structures in place so the business will operate with or without them.
The same thing working professionals set out to get, is often the same thing that stops them from starting their own business – money. Other hurdles include the fear of losing a stable income, the uncertainty of what kind of business to start, and a lack of confidence in themselves to pull it off. Only the brave jump ship; and they stick with it in tough times and periods of abundance.
The solution for companies is to encourage an entrepreneurial spirit within their organization. New ideas shouldn’t be seen as a threat to bosses; innovation does not mean that colleagues are gunning for your position in the company. New ideas need to be debated. Those that are rational and viable should be explored rather than suppressed – therefore the concept of being an intrapreneur with your current employer comes with the advantage of having many resources to fall back on.
Entrepreneurship should not be considered a side hustle. I agree with the notion that it’s ideal to jump ship once your business starts generating an income that can sustain your monthly expenses, because you don’t want to ask for your job back, with your shoulders slumped and head down.
Anyone going into entrepreneurship should understand there is lack of sympathy in business; there are no pity parties in this game. You can’t claim that life has done you wrong; no one is buying that kind of nonsense. Don’t try to get people to feel sorry for you – this is not a talk show.
If you want something better, go and get it. But be prepared to work hard for it. – Written by Paul Mashegoane