Why You Should Be An Entrepreneur (Yes, YOU!)
Sure, any employee can be a passive entrepreneur by earning income from his invested savings. He can also be an active entrepreneur by having a sideline after office hours and during weekends.
But when I say that an employee should be an entrepreneur, I am talking about mind set.
What makes an entrepreneur different from an employee? An entrepreneur owns his business and has “placed his money where his mouth is”. He believes he is good in a specific business and he will run it as the owner. His success is completely dependent on his creativity, strategy, hard work and determination.
The latest learning craze is entrepreneurship. Employment jobs are hard to find and most would like to find a way to set up their own business, no matter how small. So many are taking courses or joining seminars to learn entrepreneurship. This is great but generally, the biggest hurdles for them is knowledge of accounting (i.e., financial record keeping) and the capital needed for the business.
Those who do not have capital probably have to be employees first unless they can get the capital from “angel investors” such as rich relatives or friends. Jobs are hard to find, you say? Why is it that when I talk to companies, it is ironic that there are so many jobs that cannot be filled up. They cannot find the right kind of person for the jobs available.
I submit that those who have an entrepreneurial mind-set will always be able to find a good job, succeed and eventually be the entrepreneurs they want to be.
An entrepreneurial employee, to my mind:
- Knows how to discern the activity that to him would be fun even if it is work. He will find a way to structure his work so that it will be fun, no matter how mundane it may be.
- Treats his company like his own. He will look for ways within his sphere of influence to ensure that the company sustains the profitability of its products and services.
- Understands what is fair for both himself and the company. He will work beyond the call of duty but at the same time, will realize that he and his family come first. This is an issue that he would discuss and keep open with his boss.
- Makes education a priority. What I mean by education is not just have a degree or a diploma, but actually taking up courses and/or being an apprentice in an activity that will further his entrepreneurial dreams. Sometimes, having a degree even hinders a person from taking on an entrepreneurial opportunity because he feels the activity is too “low” for him.
But, whether a person wants to be an employee or an entrepreneur, the reality is that, to survive economically in this world, he has no choice but to have both the active entrepreneurship and the passive entrepreneurship strategies. Reality also dictates that it is an obligation to learn to be a knowledgeable investor, to become a passive entrepreneur. We can be an active entrepreneur only for a part of our lives, but we can be a passive entrepreneur our entire life. This is the fundamental principle behind the need for financial planning at all stages of our financial and physical lives.
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