Monday, October 24, 2016

BEFORE I SACKED MY BOSS HERE IS WHAT I DID AS A SELF-EMPLOYED AND WORK-AT-HOME ENTREPRENEUR


“I’ve missed more than 9,000 shots in my career. I’ve lost almost 300 games. 26 times I’ve been trusted to take the game's winning shot and missed. I’ve failed over and over and over again in my life and that's why I succeed.” - Michael Jordan

I have never come across any successful business person who said it was easy being an entrepreneur. Bill Gates of Microsoft, Mark Zuckerberg of Facebook, Aliko Dangote of Dangote group, Ryan Graves Of Uber, Femi Otedola Of Zenon, Linda Ikeji, Jan Koum of whatsapp, Razak Okoya of Eleganza, etc, all have some tales to tell about the pros and cons of entrepreneurship. Are you ready for product launch or you're in the early stages of your startup, just been availed funding for your startup, there will always be a time when you ask yourself if this whole entrepreneur thing is worth it at all.

Related...http://hollalaycan.blogspot.com.ng/2015/11/how-to-start-your-own-business-even.html

With the current economic recession biting hard on the fortunes of Nigerian economy in terms of dwindling earnings from oil proceeds, federal monthly allocations has shrunk considerably resulting in many states of the federation unable to fulfill their financial obligations. Salaries are being owed, pensions are not paid to retirees, leave allowances and bonuses are owed in billions, infrastructural developments and social welfare is in a state of comatose and ultimately there is continuous rise in the prices of commodities especially staple foods and amidst all of these is daily job loss and pay cut by companies.





Consequently, the recession hit the private sector more as they rely heavily on the patronages of the public sector for survival and profiteering. However, the recession has led to the collapse and closure of many once thriving businesses with large numbers of employees and staff. Many laid-off employees have resorted to self-empowerment or work at home entrepreneurs due to the misfortune brought about by the mismanagement of the economy by our leaders and private sector stakeholders.
Before you jump out of the ship of 9-5job, I would rather advised that you start something by the side while still on you current employment, set some funds aside to sustain the period of learning a new trade, or better still keep your salary job until the coast is clear to sail away to the entrepreneurial world.  I started testing the waters of entrepreneurship while still receiving salary from Guaranty Trust Bank Plc, I was doing part-time consultancy in the area of business proposals, company registrations, Tax filings and so on. I saved some amount of money and borrowed some funds from friends and family members to eventually kick-start the brand name I am known for today, PROSPECTIVE IDEAS NIG ENT. This little company has turnover millions of naira in sales and commissions, the ultimate thing to do right from the outset is to know what you really want to achieve with your new found sojourn. ‘FAILURE TO PLAN IS PLANNING TO FAIL

related article...http://hollalaycan.blogspot.com.ng/2016/03/how-to-survive-when-laid-off-from-your.html

For anyone who desires to venture into self-employment or work-from-home businesses at this critical and challenging time, it would make more sense to incorporate ONLINE/INTERNET business in your plan as this will saves you time, money and cost of starting a new business from ground zero. But building a profitable online business usually takes time and getting real profit is not going to be a miracle, you gotta work for it!

More useful tips here....http://hollalaycan.blogspot.com.ng/2015/11/should-you-stick-to-your-present-job-or.html

There are 3 main reasons why the self-employment or entrepreneurial journey is the
most promising of any career choice. These reasons are:

1.     BROAD RANGE OF CHOICES: There are limitless options you can explore, you get to choose which trend you want to follow and which business passion you will like to pursue.
2.     NO BENCHMARK IN SALARY AND PAY PACKAGE: The level of income and pay package is not going to be decided by anybody but you, no need to worry about appraisal and promotions that mostly determines what you take home OR what takes you home.
3.     NO MORE BIG BOSS ANXIETY: The fear of the big boss bumping on your desk looking for reasons to cut your salary or pay is no more there. The work rules, location of work and schedule is solely determined by you, and ‘he who pays the piper dictates the tunes’.

See also...http://hollalaycan.blogspot.com.ng/2016/05/7-most-important-guidelines-for-first.html

Therefore, in order to succeed in this risky entrepreneurial drive, you need to take into considerations some important decisions that will eventually be evidence for how flourishing your chosen career will be. These important decisions are:
1.     CREATING A NEW PRODUCT OR EARNING SALES COMMISSION FROM OTHER’S PRODUCTS: My very first job as an entrepreneur when I resigned from the bank in 2009 was a consultancy job as a Project Manager on a Federal road project in Abraka, Delta state. I earned consultancy fee as well as gained additional experience in project management in the course of working on the said project. I was mostly on air trips and rarely travelled by road due to the sensitivity of my position as the go-between the contractor and the financier of the project on whose mandate I represented. The internet has however, provided a better platform to explore the options as to whether to create your own product or earn sales or referrals commissions from other people’s products. If you do not possess the capital and resources to create your own product, it is advisable to look for affiliate products on sites such as Jumia, Konga, Jiji, Dealdey, Kedi healthcare, Forever Living Products, etc to promote.

Helpful topic...http://hollalaycan.blogspot.com.ng/2016/06/the-gale-ofjob-losses-being-witnessed.html

To be continued……



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