With all this talk about small businesses and entrepreneurship as the way to build a country, we must remember that not everyone is cut out to be an entrepreneur. Starting your own business not only requires a lot of planning but also I think requires certain personality traits. Some of us are not cut out for this and in fact can be very successful at working in a full time job.
This is a reality that we must face in deciding which path is best for us, and there is nothing wrong with that.
There have been many very successful employees, which we can see in Jamaica and overseas. These persons are not only the CEOs but are also in technical positions, such as accounting, financial analysts, traders etc. there are also very successful administrators.
I believe that one of the first decisions we must honestly make is do I have the characteristics needed to develop a successful business. Because many do not seriously consider this they waste a lot of their own capital, or put themselves in debt, pursuing a business that they do not have the personality to attend to. Just because they think that owning a business is the ultimate success status.
What is a more important measurement is wealth accumulation.
So how does one determine if they are more suited for employment or entrepreneurship? Some questions to consider are:
Do I have a passion or idea I want to pursue or develop? If not then you may not enjoy any business venture you get into.
Am I a risk taker? If not then maybe you will not be able to deal with the stresses that can come with business start ups.
Do I have the time to put into developing a business?
Do my personal commitments allow me to risk any future income flows? This does not necessarily mean you cannot establish a business but you might want to take it in stages.
Can I more successfully pursue employment given my skill levels?
Do I enjoy working in an already established work environment as opposed to building a structure from a more informal setting?
If one does this sort of analysis and determines that employment is the best option then you may want to look at ways in which you can improve your worth at the office, After all even in employment what you are doing is selling a service to your employer, which means you always have to remain competitive to get ahead.
This is a reality that we must face in deciding which path is best for us, and there is nothing wrong with that.