“The only limit to our realization of tomorrow will be our doubts of today.” – Franklin D. Roosevelt
I have always dreamt of being a self-made man, like my father. He has taught me by example to always seek help of oneself instead of relying on others. In such a manner, he has always provided us, his family, with everything we have ever required or wanted. Year after year, I become more in “awe” as I look at my parents tackle whatever life throws at them, and how they manage to overcome all their difficulties and triumphs together. At a very young age, I would question whether I should be a suited corporate “slave” or take a shot at being a t-shirted entrepreneur seeking capital in exchange for his dreams?
As I progress in my career and mature with age, I have realized that rigid definitions hold limited meaning in today’s world. In an ever-evolving market populated with extremely competitive individuals, nobody chooses a “path” for themselves but rather undertake any opportunity that will bring them one step closer to their goal. After analyzing all my options and ambitions, I believe that working for a corporation is the first step a person can take in order to grow and in addition, gain a better understanding of the industry. Please note that this “opinion” is limited to certain industries, for example- if I was in the tech-industry or involved in an online business, where I possess a viable competitive advantage, entrepreneurship would be the recommended direction. However, unless you have a revolutionary product or service like facebook or adclicks developed by Mark Zuckerberg and Gurbaksh Chahal respectively, that require little initial investment and provide quick R.O.I. you better have a
rich dad to fall back on .
The reason I would rather work for a corporation are as follows. There is a lot to learn when you come fresh out of school or enter an industry. You might have the drive and passion required to be successful but the odds are always better when you have some tricks up your sleeve and a few contingency plans to break your fall. Although after reading “rich dad, poor dad”, I understand it might be better to go broke before 30 than in my mid-life; it still can get quite depressing having empty pockets while your friends are buying houses and cars. Another reason I encourage people to go work for someone else is because of a steady income, whether you want to use the money to enhance your credentials, start a family or help your old folks – money is always better in your own hand. By being in the industry that you want to start your venture in – has its own benefits, you learn about why companies follow certain processes and methodologies, what cyclic or unprecedented changes they need to prepare for, who do they hire and why; and most of all, how do they stay competitive and ahead of the competition. If you don’t know the answers to these questions, you will only have luck to rely on and it’s better to rely on yourself than a lady, I assure you! 😛 just playing!
As an entrepreneur, you are looking at days that extend into nights and nights at work where you see the break of day. It only makes sense to work that hard with a steady job in hand. Atleast in this way, you are earning your bread and butter and will research thoroughly about your intended business and have the right benchmarks in place whenever you do decide to go for the ride. Opportunity cost here would also give you the required confidence to take the plunge, for unless you believed in your product/service a 100% and most importantly, believed in yourself a 110%, it would be extremely hard for you to leave the comforts attached with your job. Hence, if you did decide to take up the gamble, you will have the belief and heart required to stay and fight for your dream.
Lastly, while working a 9-5 and researching on your choice of business, you will engage other motivated individuals in topics of interest and can fabricate valuable networks. I had read that any successful business requires a very knowledgeable accountant, a sharp lawyer, a family doctor, a trusted manager and a supportive family. The only question that remains is how soon will you be able to build your business so that it generates an income higher than your day job so you can quit and retire comfortably?
“There are three ingredients in the good life: learning, earning and yearning.” – Christopher Morley