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WHY YOU SHOULD START A SMALL BUSINESS
Very few people want a career where they have to report to someone else; but running your own business or being your own boss can be difficult. Nonetheless, it is proving a viable and lucrative market for those looking to have a career.
South Africa, for example, is seeing a notable growth in this sector.
“The Global Entrepreneurship Monitor 2014 SA report says while in 2001 19.7% of the adult population saw opportunities to start a business in SA, this figure has since increased to 37% in 2014.
Christo Botes, spokesperson for the 2015 Sanlam and Business Partners entrepreneur of the year competition [says] “The entrepreneurial spirit is on the rise due to positive shifts in societal attitudes. This has resulted in an increasing number of South African adults viewing it as a career choice.” Business Engine MD Muriel Chinoda believes there has been a “total shift” in attitudes towards entrepreneurship. With the scarcity of formal jobs and persistently low global economic growth, more people are looking to establish their own businesses rather than pursue a formal career.”
Many articles highlight just why you should consider it, as we’ve touched on. Being your own boss and controlling your own destiny, you manage your own work/life balance, you choose who to work with, etc. These are just some reasons Inc.com provides as to why you shoudl think about this career path.
But what does it mean to even start such a venture?
Aside from perhaps taking formal classes – such finance courses or business administration courses – it can mean other forms of education.
First, it means deciding what your skills are and how these can cater to and improve on a market. Indeed, you first need to ascertain there is a market for what you want to sell. If there’s no market, there’s no profits or sales! Sometimes, it’s possible to create a market by showing that people want your product before they realise they do: For example, before cellphones existed, no one realised they actually really needed cellphones!
Chris Guillebeau, author of The $100 Startup, said an interview with Forbes:
“It’s now possible to reach people (customers, clients, subscribers, etc.) based on shared ideals and values. Microbusinesses of one sort or another have been around since the beginning of commerce, but the ease of connecting with people is a new phenomenon. Also, a large percentage of the population is being comfortable with making purchases online. These things create a perfect storm of economic convergence. It’s never been easier.”
It’s therefore important that we consider a small business as a possible career path – if not now, then perhaps in our future when we have our life stable in the right way.