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Before You Make That Huge Jump from Paid to Self Employment – Pause and Read This!

Before You Make That Huge Jump from Paid to Self Employment – Pause and Read This!

Many are mesmerized and drawn to the glow of self-employment, being your own boss, calling the shots and earning your own pay… that’s a good way to go, trust me because we do need more entrepreneurs for many reasons such as economic growth, job creation and better quality of product and service offering.

But hold up! This is what it takes to thrive in that special side of the pool….

The market place and market space is filled with countless possibilities, the most important ingredient is the strength of character to conceptualize, research, innovate, synergize, unlearn, relearn, serve, create value, love people, shun mediocrity, accept responsibility, execute profitably et al.

Paid employment is the pathway of the most travelled, while self-employment is the pathway of the least travelled. Both pathways are risky, as employment is essentially for survival.

Speaking to an average job seeker, all you hear is I want a good job that pays very well. You need to note, that employers pay for the solutions you provide and the value you add to the growth of their organisation. When you stop adding value, there is no upward mobility and you eventually lose your job.

Self-employment is an odyssey of conceptualization, elocution, execution, failing forward, acceptability, profitability and ovation.

I spent the weekend with two different friends discussing entrepreneurship, philosophy, hype, substance, spirituality, innovation and love relationships.

Friend No.1 chronicled his self-employment trajectory, having worked in FMCG’s; the money making bug caught him and he formed a strategic alliance starting an oil marketing company in the downstream sector.

Misaligned values with his business partner, led to dysfunctionality and the oil marketing company collapsed. Today, he is in the quarry business, bottled water manufacturing amongst other entrepreneurial pursuits.

His mantra for business success is delayed gratification, integrity, fairness, proper supervision of subordinates, spirituality amongst others.

Friend No.2 chronicled his self-employment journey, having sold business books and worked in the business development department of a leading Nigerian bank.

He quit his banking job during the first quarter of this year, focusing on his fashion label partnership which he invested money in while still working in the banking industry, a marketing communications company and motions pictures production house.

His mantra for business success is research, service innovation, integrity, spirituality, dedication amongst others.

Now, before you take that huge leap, sincerely ponder on these thoughts… answer yourself truthfully.

  • Do I have the requisite skills for a business venture?
  • Have, I served profitability in paid employment?
  • Do I understand the market place and market space?
  • Do I need a mentor or coach to guide me through this new adventure of business enterprise?
  • What about funding the new venture?
  • Do I have a business plan and a business model?
  • If my service offering is not new, what I’m I going to do differently?
  • Do I know the masters in the industry, I am getting into?
  • How do I engage the gatekeepers, so that they can let in me?

Do not leave paid employment, if you’ve not conquered the fear of the unknown. Paid employment gives you a false sense of security. Self-employment gives you a spirit of resilience and adventure.

Think about it, before you enter the business jungle!

While still pondering, if you have already kicked off your start-up, and need business advisory or fund support, then enter the Fund Ya Hustle Contest now!

* Equanimity Group is a Strategy, Training, Coaching and Management Consulting firm. They are our business advisory partner. Get intouch with Anthony on twitter @ViabilityCoach or call 07082962649.

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