Each one of us knows that by being a businessman, you earn more profits and possess more assets than you can ever accumulate through being an employee. Look at all the wealthiest people in the world, each one of them is a businessperson from Mark Zuckerburg to Kylie Jenner. You will never find an employee on that list or even the highly sought after Forbes 30 fewer than 30 or 40 under 40, and all these also include businessmen, not employees.
Let us take the example of one of the wealthiest employees in one of the most prosperous companies. Sundar Pichai is the CEO of Google, and he is earning in six figures, probably even seven. He is pretty well-off, but compared with the founder of the company Larry page, he is making peanuts.
Or look at the founders of Whatsapp, Brian Acton and Jan Koum. Whatsapp was and is the most used messaging application that changed the way we text. From the coolest emoticons to the feature of sharing instant photographs and videos, it provided a surreal experience to the user. The founders sold it to Facebook at a mind-boggling 18 billion USD and became billionaires themselves.
Now think, by being just an employee, can you ever earn 18 billion US dollars? Will you ever be able to feature in the elusive Forbes magazine? Will anyone remember you after you are gone?
An affirmative answer to all these questions will only be possible in the business sense. Being a businessman is more profitable, but it is nowhere close to easy. A business always needs you to be on your A-game and then maybe, it can succeed.
If you do decide to establish your own business, then you must master these four things that will be the turning point of your career.
- CONFIDENCE AND BELIEF
As a businessman or businesswoman, you are going to be the leader. Look at history, have you ever heard of a leader that was weak and successful? I am sure, you have not. So, instill all the confidence you can muster in yourself and channelise it into your business.
Because if you are confident, not only your employees but the suppliers, investors and clients will respect you. Since having confidence and garnering respect go hand-in-hand.
Along with this, you also need to have a belief. Belief in yourself, belief in your abilities, belief in your idea and belief that you will make a mark in the business world. Once you have these two traits, your journey as the businessman would commence.
- A HOLISTIC BUSINESS PLAN
Next comes the business plan, it is not just a written document, but a business plan is THE document that will decide the course of your company. This document lays the foundation for your business.
If your business plan is holistic, as in it covers every area the business needs to focus on, your establishment would never fail.
Proper research on customer demands and market trends will help you narrow down those areas that can become the purpose of your business. For instance, the beauty industry has excessive competition on the makeup front, but the skincare side has less products and companies providing the same. Farsali Skin Care capitalised this side and is one of the giants in skincare, with almost every beauty influencer using their products.
- A PEOPLE PLEASER
The third essential trait is that an entrepreneur should and must be a people pleaser. What I mean is that the businessman has to be the perfect blend of politeness, affability and positivity with a hint of modesty. However, not so much to be seen as a push-over; that would never work.
You have to be this blend because as a businessman, you have to deal with people continually, be it your employees, your investors, suppliers or the most important your clientele. If you seem arrogant and aloof, nobody would want to work with you; plain and simple.
The last hurdle that is separating you from your business is finance. You need money to fund your dream. This seed money can be accumulated from different sources.
1. Personal Savings; you can try to invest your savings if you have enough, into your business and avoid taking on debt.
2. Investors; Numerous companies are always on the hunt for new and promising business ventures. Find one and pitch them your business idea; if they like it, you are all set.
3. Loans; the investor may give you money, but he would also take a piece of your ownership. To avoid that loss, loans can be the option. Today you can get a loan, regardless of your credibility. Bad credit loans with an instant decision in Ireland are the perfect example of the same.
4. Government Grants; the government always strives to support the budding entrepreneurs. Hence, there are numerous grants and subsidies that you can levy from the state to help your business.
In the end, I want to say that thinking about starting your own company should not just remain a dream. It can quickly become your reality if you are focused and dedicated enough. It is because victory only comes with determination.