You are sick of working long hours with no apparent result.
The rat race. The maze. The treadmill.
It goes by many different names but it is the feeling that you are running as hard as you can, just to stay still.
You hate your boss. She doesn't appreciate you. No matter what you do, it's not good enough. She has her favorite blue eyed boy and you know that come appraisal time, it is he who will get the highest score and you'll get a modest 15% hike.
You know that the harder you work, the richer the owners of the business get. And what do you get? A salary. Peanuts.
You hate the fact that you can't pick your subordinates. The company has a dedicated hiring team that hires people like a mass production factory. And when the company needs to ramp up the hiring numbers fast, the quality of people hired drops. And guess who gets stuck with the latest bunch of baboons? YOU!
AND SO YOU DECIDED THAT THE WAY TO GO IS TO START YOUR OWN BUSINESS.
With a business, the harder you work, the more you earn.
More freedom. You are the boss. You can come and go as you please. No one can question you. On some days, maybe you don't feel like going to work, so you DON'T.
Business owners are the rockstars of the new world. Bill Gates, Steve Jobs, The Google Guys, The Yahoo Guys, The Facebook Guy. These are the people you look up to and dream of being like.
Imagine the joy of not having to wait till the end of the month to see if your salary is credited to your account. You are the boss. You can just reach into the till whenever you want and take what you need.
YOU THOUGHT LONG AND HARD AND DECIDED THAT IT'S TIME TO MAKE A BOLD MOVE
You haven't talked about it with anyone yet, except your closest confidante. Not even your family knows this move that you are considering.
But you know that you have to do it.
You have waited a long time. But now it's time to make the move. You have written and re-written your resignation a hundred times inside your head. Now you want to type it into a word file.
But just for the heck of it, you Google "How to start a business" or "How to be and Entrepreneur". And that's how you landed up on my blog.
YOU ARE ALREADY DOING GREAT
If there is any way in hell you can just hang in there, do that. Keep earning a salary.
You have steady job where there is no immediate threat of you being fired or downsized or right sized.
You have access to broadband internet connection, which is how you are reading my blog.
You are already better off than the biggest chunk of the world's population.
Read this;
http://www.globalissues.org/article/26/poverty-facts-and-stats
80% of the world's population lives on less than $10 a day.
If you are able to meet your current monthly requirements, including rent, food, clothing, bodily security, gainful employment and other basics that make up the bottom of Maslow's heirarchy of need , consider your self truly blessed. Fate, or God has chosen you to be among the cream of human society.
If after spending enough to maintain a decent lifestyle and putting aside 20% of your salary in savings and investments every month, you are going to be a millionaire.
MAYBE MORE MONEY WILL SOLVE YOUR PROBLEM
Most problems in life can be solved by throwing money at them. A friend of mine kept complaining about his job. The work environment sucks. The boss never gives me any credit. I don't feel rewarded. And on and on and on.
Long story short, he resigned, the boss offered him a hike to stay on, he accepted.
Read this guys blog;
http://www.paulstips.com/brainbox/pt/home.nsf/link/04052006-How-to-get-a-job-paying-more-than-100000-a-year
Find a way to earn a higher salary either at your present job or at another one. This way, at the worst times, when you wonder why you take all that bullshit, a look at your bank balance will bring the smile back to your face.
GET A HOBBY
I want to get paid for doing what I love.
My job is not fulfilling me on a spiritual level.
Do what you are passionate about and the money will come.
What's the point of earning a lot of money if I'm not happy?
If this is you, then maybe you need to get a hobby. Consider this;
How long can you do what you love doing?
I love Gulab Jamuns. They are sweet and syrupy and yummy. Every chance I get, I scarf them down until I get a sugar high. Could I eat them for every meal? Every day for the rest of my life? NO!
You might love doing something but doing it all the time is quite a different animal. Not sure? Try doing it for 3 hours everyday for a month. EVERYDAY. Without skipping. See how it feels. If you don't love it anymore, make it a hobby. And keep your day job.
Passion doesn't always translate into money
What makes money and what doesn't is more about a confluence of circumstances than anything else.
What happened to expert horse carriage makers when the motor car came around?
What happened to everyone in the whale oil industry when petroleum became the fuel of choice for energy
What would the Google guys have been doing if the internet had not been invented and if it had not been so popular?
You have to be positioned in the right place at the right time for your passion to turn into a successful business. Frankly, the odds are against you. The world is doing just fine without your particular service or product. So don't expect them to come running as soon as you put it on the market.
If what you love doesn't readily translate into a business model, you can keep doing it in your spare time and use the income from your day job to fund it.
As a business owner you'll spend a lot more time doing things other than what you love
Some of the things all business owners have to spend time doing and thinking about are;
Finance
Human Resources
Marketing
Legal Issues
Government Regulations
If you become a business owner, I guarantee that you will be spending the majority of your time on these. If these are not what you are passionate about, don't bother starting a business. Make your passion, the safe place that you go to. Make it a hobby. Everybody is happy.
IF YOU ARE CONSIDERING STARTING A BUSINESS, MY SINCERE ADVICE IS...DON'T
Consider some data;
Statistics show that 95% of all small businesses fail within the first 5 years. Of the rest, 90% fail within the next 5 years. That's interesting right? I'm going to put that in bold, red letters.
ONLY 1 OUT OF 200 BUSINESSES LAST THE FIRST TEN YEARS
What happens to the rest?
They go broke.
The promoters lose their nerve.
The business owner decides to call it quits. He or she decides that they are not cut out for business. They get bored of waiting for money that never comes. Employees that incompetent. Customers who don't value their services.
Once enthusiastic business owners now go back to a job. Now reporting to the people who were their subordinates, because of the 5 years they wasted trying to start a business.
SO WHY START A BUSINESS?
Because you can
You are lucky enough to be in the center of that unique confluence of circumstances when what you can deliver is what the market is craving for. What you have to offer builds on the past failures of others who have nonetheless paved the way for you. Henry Ford did not invent the automobile. Nor was he the first to have a commercial automobile. But he knew what would succeed because he knew why others didn't
You have a unique highly valued skill set which will help you deliver enough value to your customers to make a successful business out of it.
Ever heard of Oprah Winfrey?
Sure you have.
Can you talk like her?
Sure you can.
Can you become as rich as her hosting a talk show that caters to women in all age groups?
Probably not.
Why not?
She has a special something...
Because you have to (This is probably where I fit)
If you don't play well with others.
If you are rebellious by nature.
If you pathologically incapable of suffering any form of authority
If you have no special talents.
The only way you can make a living is by starting a business
Because you value freedom and glory more than anything else and you are willing to pay the price (This is where I like to think I fit in)
The story goes that when Ernest Shackleton was preparing for the his exploration of the antarctic, he place an advertisement in the newspaper;
"MEN WANTED: FOR HAZARDOUS JOURNEY. SMALL WAGES, BITTER COLD, LONG MONTHS OF COMPLETE DARKNESS, CONSTANT DANGER, SAFE RETURN DOUBTFUL. HONOUR AND RECOGNITION IN CASE OF SUCCESS.”
Everything has a price.
When starting a business, paying the price does not ensure success. It does however ensure that you have a shot at success.
How many years will it take for you to succeed? I can not say
If you keep at it will you succeed for sure? I can not say
SO SHOULD YOU START A BUSINESS AT ALL?
Probably not.
SO WHAT IS THIS BLOG ABOUT?
If you have read this far, It's probably time for a little introduction.
My name is Sunil Sundar. I am a business owner with a growing company. Looking back, I think that I could have saved myself some of the struggle and heartache, if I'd had a mentor.
If you are taking your first shaky steps to starting a business, I want to be there to handhold you and help you as best I can.
In this blog I will tell you about things that I did right, things that I did wrong and the lessons I learnt from them.
Till Next Time
Sunil
Continue to the next Chapter
Did you enjoy my blog? Now pay me ONE DOLLAR! :)
The rat race. The maze. The treadmill.
It goes by many different names but it is the feeling that you are running as hard as you can, just to stay still.
You hate your boss. She doesn't appreciate you. No matter what you do, it's not good enough. She has her favorite blue eyed boy and you know that come appraisal time, it is he who will get the highest score and you'll get a modest 15% hike.
You know that the harder you work, the richer the owners of the business get. And what do you get? A salary. Peanuts.
You hate the fact that you can't pick your subordinates. The company has a dedicated hiring team that hires people like a mass production factory. And when the company needs to ramp up the hiring numbers fast, the quality of people hired drops. And guess who gets stuck with the latest bunch of baboons? YOU!
AND SO YOU DECIDED THAT THE WAY TO GO IS TO START YOUR OWN BUSINESS.
With a business, the harder you work, the more you earn.
More freedom. You are the boss. You can come and go as you please. No one can question you. On some days, maybe you don't feel like going to work, so you DON'T.
Business owners are the rockstars of the new world. Bill Gates, Steve Jobs, The Google Guys, The Yahoo Guys, The Facebook Guy. These are the people you look up to and dream of being like.
Imagine the joy of not having to wait till the end of the month to see if your salary is credited to your account. You are the boss. You can just reach into the till whenever you want and take what you need.
YOU THOUGHT LONG AND HARD AND DECIDED THAT IT'S TIME TO MAKE A BOLD MOVE
You haven't talked about it with anyone yet, except your closest confidante. Not even your family knows this move that you are considering.
But you know that you have to do it.
You have waited a long time. But now it's time to make the move. You have written and re-written your resignation a hundred times inside your head. Now you want to type it into a word file.
But just for the heck of it, you Google "How to start a business" or "How to be and Entrepreneur". And that's how you landed up on my blog.
YOU ARE ALREADY DOING GREAT
If there is any way in hell you can just hang in there, do that. Keep earning a salary.
You have steady job where there is no immediate threat of you being fired or downsized or right sized.
You have access to broadband internet connection, which is how you are reading my blog.
You are already better off than the biggest chunk of the world's population.
Read this;
http://www.globalissues.org/article/26/poverty-facts-and-stats
80% of the world's population lives on less than $10 a day.
If you are able to meet your current monthly requirements, including rent, food, clothing, bodily security, gainful employment and other basics that make up the bottom of Maslow's heirarchy of need , consider your self truly blessed. Fate, or God has chosen you to be among the cream of human society.
If after spending enough to maintain a decent lifestyle and putting aside 20% of your salary in savings and investments every month, you are going to be a millionaire.
MAYBE MORE MONEY WILL SOLVE YOUR PROBLEM
Most problems in life can be solved by throwing money at them. A friend of mine kept complaining about his job. The work environment sucks. The boss never gives me any credit. I don't feel rewarded. And on and on and on.
Long story short, he resigned, the boss offered him a hike to stay on, he accepted.
Read this guys blog;
http://www.paulstips.com/brainbox/pt/home.nsf/link/04052006-How-to-get-a-job-paying-more-than-100000-a-year
Find a way to earn a higher salary either at your present job or at another one. This way, at the worst times, when you wonder why you take all that bullshit, a look at your bank balance will bring the smile back to your face.
GET A HOBBY
I want to get paid for doing what I love.
My job is not fulfilling me on a spiritual level.
Do what you are passionate about and the money will come.
What's the point of earning a lot of money if I'm not happy?
If this is you, then maybe you need to get a hobby. Consider this;
How long can you do what you love doing?
I love Gulab Jamuns. They are sweet and syrupy and yummy. Every chance I get, I scarf them down until I get a sugar high. Could I eat them for every meal? Every day for the rest of my life? NO!
You might love doing something but doing it all the time is quite a different animal. Not sure? Try doing it for 3 hours everyday for a month. EVERYDAY. Without skipping. See how it feels. If you don't love it anymore, make it a hobby. And keep your day job.
Passion doesn't always translate into money
What makes money and what doesn't is more about a confluence of circumstances than anything else.
What happened to expert horse carriage makers when the motor car came around?
What happened to everyone in the whale oil industry when petroleum became the fuel of choice for energy
What would the Google guys have been doing if the internet had not been invented and if it had not been so popular?
You have to be positioned in the right place at the right time for your passion to turn into a successful business. Frankly, the odds are against you. The world is doing just fine without your particular service or product. So don't expect them to come running as soon as you put it on the market.
If what you love doesn't readily translate into a business model, you can keep doing it in your spare time and use the income from your day job to fund it.
As a business owner you'll spend a lot more time doing things other than what you love
Some of the things all business owners have to spend time doing and thinking about are;
Finance
Human Resources
Marketing
Legal Issues
Government Regulations
If you become a business owner, I guarantee that you will be spending the majority of your time on these. If these are not what you are passionate about, don't bother starting a business. Make your passion, the safe place that you go to. Make it a hobby. Everybody is happy.
IF YOU ARE CONSIDERING STARTING A BUSINESS, MY SINCERE ADVICE IS...DON'T
Consider some data;
Statistics show that 95% of all small businesses fail within the first 5 years. Of the rest, 90% fail within the next 5 years. That's interesting right? I'm going to put that in bold, red letters.
ONLY 1 OUT OF 200 BUSINESSES LAST THE FIRST TEN YEARS
What happens to the rest?
They go broke.
The promoters lose their nerve.
The business owner decides to call it quits. He or she decides that they are not cut out for business. They get bored of waiting for money that never comes. Employees that incompetent. Customers who don't value their services.
Once enthusiastic business owners now go back to a job. Now reporting to the people who were their subordinates, because of the 5 years they wasted trying to start a business.
SO WHY START A BUSINESS?
Because you can
You are lucky enough to be in the center of that unique confluence of circumstances when what you can deliver is what the market is craving for. What you have to offer builds on the past failures of others who have nonetheless paved the way for you. Henry Ford did not invent the automobile. Nor was he the first to have a commercial automobile. But he knew what would succeed because he knew why others didn't
You have a unique highly valued skill set which will help you deliver enough value to your customers to make a successful business out of it.
Ever heard of Oprah Winfrey?
Sure you have.
Can you talk like her?
Sure you can.
Can you become as rich as her hosting a talk show that caters to women in all age groups?
Probably not.
Why not?
She has a special something...
You have access to money, advice and even political pull to get your company of the ground and flying high. You can quickly and easily garner a large portion of the market share and retain it near monopolistically.
OfficeTiger was an India based outsourcing company founded by two harvard graduates. Joseph Sigelman and Randy Altschuler. Both Jewish New Yorkers. (Randy is now running for Senator). On the board was the nephew, Knut, of the second secretary general of the United Nations , Dag Hammarskjold. They raised $18 million in funding from Mountgrange Capital and Elwin Capital. They raised a further $50 million dollars in funding from Francisco Partners. When the company was sold to RR Donnelly for $250 million, no one was surprised.
Because you have to (This is probably where I fit)
If you don't play well with others.
If you are rebellious by nature.
If you pathologically incapable of suffering any form of authority
If you have no special talents.
The only way you can make a living is by starting a business
Because you value freedom and glory more than anything else and you are willing to pay the price (This is where I like to think I fit in)
The story goes that when Ernest Shackleton was preparing for the his exploration of the antarctic, he place an advertisement in the newspaper;
"MEN WANTED: FOR HAZARDOUS JOURNEY. SMALL WAGES, BITTER COLD, LONG MONTHS OF COMPLETE DARKNESS, CONSTANT DANGER, SAFE RETURN DOUBTFUL. HONOUR AND RECOGNITION IN CASE OF SUCCESS.”
Everything has a price.
When starting a business, paying the price does not ensure success. It does however ensure that you have a shot at success.
How many years will it take for you to succeed? I can not say
If you keep at it will you succeed for sure? I can not say
SO SHOULD YOU START A BUSINESS AT ALL?
Probably not.
SO WHAT IS THIS BLOG ABOUT?
If you have read this far, It's probably time for a little introduction.
My name is Sunil Sundar. I am a business owner with a growing company. Looking back, I think that I could have saved myself some of the struggle and heartache, if I'd had a mentor.
If you are taking your first shaky steps to starting a business, I want to be there to handhold you and help you as best I can.
In this blog I will tell you about things that I did right, things that I did wrong and the lessons I learnt from them.
Till Next Time
Sunil
Continue to the next Chapter
Did you enjoy my blog? Now pay me ONE DOLLAR! :)
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