I hope you got it right, if not, read it again!
Now it is not any secret anymore that most of the wealthiest people on earth are business owners. Remember, I said wealthiest and not successful. You can, of course, be successful, happy as an employee but it is might be hard to accumulate a lot of wealth that you can transfer to your grandchildren and that is why some resign to start businesses or others start these after retirement.
I have also followed several stories of people that have started their businesses after retirement and the number of businesses that succeed is really worrying. Many inject all their retirement savings into businesses they even don’t understand and most of them lose this money is not less than 5 years. Imagine the struggle you have to go through to live the rest of your life in misery while in retirement, a time you should have peace of mind.
It is for the same reason why I embarked on this journey of teaching people how to start a business while still in employment because I know it is one of those things that will help you attain some sense of financial freedom.
This doesn’t mean you should quit your job now, it isn’t what I mean and that is why I have written this piece to teach you that as you hold to that Job, start a business on the side and when you want to quit employment, the business will be there to take care of you and maybe even give you continuous cash flows in your old age.
Before you are taken by the bandwagon of being a business owner, start something new while still an employee which you can study well, nurture and grow when you still have a stable income.
Starting any business isn’t that easy even if you have whatever amount of money, there are many factors that will determine whether your business will be successful or not. Starting a business while you are still employed means you have some level of managing the risk of things not working out.
One of the other reasons why it is good to keep your job first is the aspect of capital. Your monthly salary will be your number source of capital. A monthly contribution to your business will boost it and by the time you exit, the business should have something to sustain itself.
Staying with your current job also means you remain with your current network. We have heard it often that your network is your net worth. You tend to be in touch with your networks while you are still in employment compared to when you have moved to be a business owner.
Many successful businesses started as side hustles. Yours can also become successful!
To your success,
Coach Samuel Ibanda
WhatsApp +256703803255
