One of the biggest dilemma of today's Working Class: Being an Entrepreneur or Working for someone else??

Hii All,

After the first post, and deciding to post the posts regularly, i somehow couldnt manage to do that. The probable reason being, i couldnt find the topic which should be highlighted..

Anyways, today i am here with a topic which probably everyone working men/women have thought of in this period of recession - Being an Entrepreneur or Working for someone else??

Seems very easy to talk about, probably we can talk about it for hours, but one of the most difficult ones to implement..

Why it becomes Much difficult for a salaried person to leave the job and start a business of his own?
Talking about myself only, i am planning to startup my own business since long, but every time my mind doesnt support me.

I have thought much about it, and found that following could be the points which resisted me to take a firm decision.

• Lack of Confidence/Fear of Loosing "Stable" Income
• Social Responsibilities
• Couldnt find out the business where in one can excel
• Lack of Capital

The above are the 4 main culprits.

1) Lack of Confidence/Fear of Loosing "Stable" Income:


Many of us are not confident of generating sufficient income for us and our families.

• What would happen if the business wont be successful?
• How would i be able to take out the Overheads & recurring expences?
• Profit are not stable...
• Will i be able to earn as what my current salary is??
• Will i be able to maintain the current standard of living?

These are the common questions which runs thru our mind. But the Most crucial one is Fear of Loosing so called Stable Income. This is the one where most of the people put their weapons down..

Specially for the people who are in Middle Management with a pay scale ranging from Rs. 25000 to Rs. 40000, this fear of loosing income is the most severe one (This includes me too).

Those who are in Junior cadre or who are in Top Management, they can come off it. Because the one who is at a lower cader has very less to loose, while those who are in Top Management are sure enough to get their businesses on track, as they have gone thru many stages of life and have many people to support them.

2) Social Responsibilities:

This implies to those who has the family to support or those who are married or both.


Such responsibilities decreases the risk apatite of a person drastically. Because they have to think about their family and dependents first. For such people, stable income is much more important than anything else.

3) Couldnt find out the business where in one can excel:

In B-Schools, we are taught to keep a goal/vision in our mind to as what do we want to be or where do we see ourselves after 10-15yrs down the line.

But to be honest,out of 100, 95% of times these things doesnt work out. Most of you would be agreeing with me to this.


So, to opt for a job/career, we go thru many companies with varied businesses. Some stick to few sectors, some like me travel to a whole lot of companies with totally a different structure and businesses to get salary jumps.


In both the cases, the uncertinity of which business to be in remains the same. Because for those who has been in different business, most of them would not be able to pick the 'best to be in' business. While those who are in the same industry, would be knowing most of the ups and downs of the industry, so would not be able to decide whether to venture in the same or not.




4) Lack of Capital:

For those who conquer the above 3 fears/hurdles, most of the times this becomes the biggest one.

Any business requires Some capital to be deployed and Working Capital. If we have sufficient savings, good enough. But if not, Business Loans/Venture Capitalists could help.


But they too are choosy in giving money. So most of us, it becomes very essential to have sufficient savings.



I know, most or all of these factors you would be knowing, but still i am writing this. Thats because i found it important to give a voice.


You can skip reading it, or if read, do give your valuable comments.

Talking about myself, i have gone thru all above phases. And still not able to finalise anything, and still working for someone else.


But 1 thing i would like to tell everyone is that today's world where an average working age for a person is decreasing day by day, having your own business would always be beneficial. Thats what my view is. May be i am wrong. 


But one thing I am sure about, and that is, this Dilemma is a very difficult to conquer. Still I am fighting to come of it. Hope atleast some, who has read this, can come out of it.


All the Best,


Take Care.


Vishesh

First Working Day of the New Year - Starts 1 hour early....

Hii All,

Finally after 3 months of when i decided to make out a Blog, today i made one and more importantly started posting..

So, the first & happening thing in this New Year - 2010 is that, finally the Stock Exchanges have started working 1hr earlier, at 9 am.

Interestingly, in this whole debate, there were only 2 parties which were given the prime importance.

1. STOCK EXCHANGES &
2. BROKERS...

Whatever the polls or opinions have been taken by the people, are taken from Brokers only & the decision was being implemented by the Stock Exchanges (inspite of the opposition by 62% of registered brokers & Banking system).

But in this debate, there is one community is intentionally or intentionally, left aside.

These are: EMPLOYEES OF THESE BROKERS.. None of the Broker or the Govt. or the Stock Exchanges have tried to get the consensus from the Employees. Or nor even they tried to know what impact could this additional 1 hour of Office can make on their lives.

For those who are residing in Metros, or those who are handling the Dealing desks, have to come to the office atleast 30 mins prior to the mkt timings. And those who are in IT & Supports, they have no option or to come 1 hr earlier.. That too with their Tiffins ready with them..

Now, considering a time of 9:00 am, those in dealing desk and RMS have to reach office by 8:30 and those who are in IT & Supports, have to come to office by 8:00am in the office. This everyone of us have been knowing.

But what most of us have not thought of is, about the Families of these people. What about them?? The wives of these people have to ready the tiffins of a Dealer latest by 7:35 to 7:45, because he has to rush for a Train and that would atleast take 30 to 45 mins to those who are not living nearby their offices.. Taking a case of Mumbai, those who are working in Borivali and residing in Virar, have to reach the Railway Station by 7:45 to reach the office by 8:30.. And for IT people they have to rush to the Stations by 7:00 to reach to the office latest by 8:00..

Now to make the tiffins of these people, their wives/moms/guardians have to make their tiffins ready by 7:30 (for IT guys, its by 7:00), and for that they have to wake up atleast at 6:00..

Dont you people think, thats PATHETIC.. No, it might not seem so..

But if we think about the social life as a whole, it makes a lot of difference. A person who is coming to office by 7 or 7-30, would leave the office earliest by 6-00 or 6-30, as the closing timing for the mkt remains the same. And reach the home by around 7-30.

Now do you think that a person who woke up at 6 0r 6-30 in the morning, and getting back home at around 7-30 pm, would have any strength to socialise or to devote sufficient time to their families??? That is the major thing which in pinching me..

And this is just the basic things which came to my mind. The implications can be much more.

Just to increase the exchange turnover by few crores, they are now ready to sacrifice the Social Lives of so many people, who are directly or indirectly connected to the mkt.

But the sad part is, no body has come up with a voice against it (which includes me too). I feel ashamed that being a part of the Broking fraternity, we dont even have that much say, that our voices are heard.

And i thing that is the main catalyst which provoked me to write soooo long and poke it to all those whom i know & to whom i am connected with, and to do atleast something against it.

Thankx a lot for reading thing Looooong first post of mine..

Would keep writing.

Take Care..