Employee to Entrepreneur


Most of us are employees getting paid from our day-to-day work in a company. We are somewhat ‘slaves’ by our bosses. No work no pay. It’s definitely a big satisfaction to be your own boss of your own business or company, an entrepreneur. According to Kiyosaki’s Cashflow Quadrant, it’s one of the best ways of getting out from the rat race and to achieve financial freedom – that is a shift from employee to entrepreneur.

Are you thinking of getting out from being an employee to becoming an entrepreneur? There are advantages and disadvantages of having a business.

 

For those of you who are thinking to shift or at least doing the same – both an employee and part-time entrepreneur – the main problem that you could encounter is the lack of time. You have a natural conflict of interest to provide most of your time to your main job as an employee. Some may even be loyal to the company they are working for and find it disloyal to start some small business on the side.

Are you ready to become an entrepreneur? In pondering whether to shift, perhaps you may want a business that:

Is Less Risky – Of course, you do not want to have a business that is full of risks or has many uncertainties. The more you know the business, the less risky it is for you. And the more passionate you are in doing the business, the more successful you can be to become an entrepreneur.

Is Not Time Consuming – Given your time constraints; you can only spend a fraction of your time to your business as an entrepreneur. You do not want a business that pressures more of your time such as a labor intensive business that requires you to travel a lot, or do a great amount of research.

Has minimal or no financial pressures – It is best that you have all the necessary capital and money available before you start venturing into entrepreneurship. You do not want a business that use up your regular paycheck or one that dries up your savings just to sustain it.

As a suggestion, I think that one of the best businesses to start up with for would-be entrepreneur employees is a business in which you can use your co-employees as your own clients or customers. Sell them anything from cookies to different apparels. Then slowly, when you are earning more than your paycheck and you can let go of the other benefits that your company gives, then it’s time to go full time into that business and become a full-time entrepreneur.

If you really want to shift from employee to entrepreneur, then I would suggest to ask yourself the following questions before going into business.

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Tyrone is a passionate financial literacy advocate. He started this blog on November 2008 when he watched The Secret which talked about Law of Attraction because he wanted to become a millionaire and wanted to know how a millionaire acts. At the age of 26, he achieved his first million. To find out more about him, click here or follow him at Instagram

5 responses on “Employee to Entrepreneur

  1. It’s really hard to venture into being your own boss – it requires lots of determination and motivation.

    Probably the reason why only 2 out of 100 people are willing to go into entrepreneurship – aside from financial matters, its all about working real hard in the early stage of the business that make people wary.

  2. Yep, I can’t wait for the day when I can give up my day job. By then I will have hopefully a few revenue streams. Some passive income and maybe a business or two which also provides income too. That’ll be a seriously good day in my life when I walk out of the office for the last time 🙂

  3. Hi Andy, yeah I am also looking for that moment where it would be my last day in my life to walk out of the office. But I think as of now, since I am just 25 years old and having just a few revenue streams providing me little income from time to time, it would be a long way to go. Ideally, I also plan to retire at my 40s. 🙂

  4. Very helpful post. Being an entrepreneur surely brings more profit than being just a plain employee, but it also requires more effort, time and attention. most people get the wrong notion that starting a business would allow them to take things easy.

  5. I believe that entrepreneur is a problem solver. if you say that your an entrepreneur and you earn money by selling products or rendering services, then your not an entrepreneur, your a mere salesman.

    A true entrepreneur can earn money even without working or spending too much time in his business. .

    A true entrepreneur does’nt take money to make money because he know how to use the power of leverage.

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