Job vs business. This debate has raged since time immemorial. Why is a business called risky and a job called safe? I think the initial thought process itself is faulty. A young person will spend a considerable amount of resources on being ready for a job despite the success rate of less than a percent (Number of applicants for any good job, especially the so called safe Govt jobs, are thousands of times more than the number of posts offered). A degree in business management is useful for getting a job rather than running a business! On the other hand, most people get into a business almost unprepared and still expect instant results. This is unfair.
Success in any business, like in any job, depends upon how much preparation has gone into it. For a job, you acquire a skill or two, study course material, write entrance test/exam, prepare for interviews and repeat the same for promotion. Likewise, a business needs some preparation as well. You should understand the product you make or deal in, its market fit, your emotional and financial strength in dealing with contingency, your expectations and willingness to allot your resources, especially your time.
Niyati has outlined this process in her blog – Why Entrepreneurs Are Not Made By A Degree In Business Management.
But the most important factor in setting up a business is – excitement. Visualise the business processes that you will be going through while conducting the business, like interactions with people, looking at the business through accounts, solving problems and troubleshooting. If you are in love with these processes, you will never have to worry about a failure. We, at Greenmor, are a family that loves creating businesses. For us, nothing can be more exciting than being part of a countless number of businesses being created.
I got into business pretty early and got mesmerised by its unlimited possibilities. I shared this excitement with some of my close friends and wanted them to get into business. Some of them liked the idea but were not sure if they could take the bite. I then spoke to their parents who, at first, were petrified with the idea of getting into business. Reason – no one in their families had ever been in any kind of business for generations. But somehow things worked out quite nicely and finally they got into different businesses. After more than a score of years, they are doing pretty well and it feels really great that I was a part when they started this journey. I hope they are not regretting their choices.
Let’s remember, nothing works in the short run. If it does, it cannot be dependable. If you can find something that works in the short run and is also dependable, it could be a 1 in a Million chance! Like any other stream, Iteration and Persistence together are the most important factors to establish a successful business. It’s best to visualise a long drawn out scenario and prepare accordingly. Scale of the business can also be set at such appropriate levels.
If you are planning to start, change or add to your career, I strongly suggest business as an option. If you feel restricted, look for options to remove or manage these restrictions. If you are in doubt, feel free to get in touch with me. I will be happy to share my experience and guide you with all possible help. Don’t be afraid. Just do it!
Best,
Narendra Sethia,
Founder, Greenmor
