Business – the very-very basics. Is it really for you?

Let’s do a formal “meet and greet” part first.

My name is Adil and ever since I am 16 years of age – I am in business. I was not blessed with an expensive house, nor with rich parents. Due to family circumstance, I was tossed about from school to school and country to country. I had to work long hours and study at the same time. I always had a belief that education and qualification will be one’s most valuable asset wherever one go and whatever one does. My parents ran their businesses most of their life, at varying degrees and sectors, but, as mentioned, due to the family circumstances their life-long project has perished into eternity – but it was not a “STOP” sign.

I was brought up in the Business environment and my early toys were a Monopoly Board game and plastic paper-notes set. At the age of 16, I became part of the newly-opened small family retail business where I have opened doors into the adult world and had to grow up quickly or face the failure.

Let me get it straight, if you are thinking that Business is flashy cars, expensive resorts, tailored suits and endless flow of alcoholic beverages – then I will spoil the fun – it is not. The business is hard work, long hours, endless worry, determination, networking, sacrifice, and fear of unknown. You must be prepared to give the whole YOURSELF to it and it will pay off, eventually…or at least such is the plan.

The field of business is vast, depending on what you are doing, your target group, where you live and who you are – the development steps of your business will be unique and tailored to your circumstance. There is no “silver bullet” to all troubles and when you decide to open the business you should be psychologically ready that you will be responsible for everything and everyone within.

Being “a Boss” for yourself is great and indeed very attractive. No senior is giving you orders and no manager hovering over you, no director piling papers on your desk, or sending tonnes of e-mails or asking you to stay an extra hour at the end of your workday. Nobody!

It feels good, right? But I am sorry to poop your joy, all of the above will still be emplace but this time it will be all YOUR SOLE responsibility. Oh boy, I am talking sleepless nights, 24/7 work schedule, phone calls at the weekend and hectic meeting schedule.

There are a lot of reasons why 60% of businesses fail in its 1st year. I can name you 5 key ones: Personality – Finances – Legal System – Market – Credit Crunch

Be very genuine and ask yourself what is the purpose of your doing. From my personal experience, watching closely the people I met, adhering to the stories I have heard – I can state with confidence that those who pursue desire of “making money” and “getting rich fast”- do not go far. Don’t get me wrong, you must be ambitious and your prime aim, in the wonderful age of capitalism, is – to make the profit, to grow profit and then grow your profit even more. At the same time, you have to love and understand what you are doing.

When you do the work you love – you excel in it. You will inevitably spend more time doing research, improving advertising, booking meetings, attending expos, trade shows, and training sessions. You won’t notice time pass and every little win will fuel your ambition further. Trust me, it will.

I, in my career, always stand by “ethical trade”. Despite what people tend to say, trading ethically does not have to cost extra money or become an administrative burden. If you are running a plant refining timber and you will order for every single tree to be cut down without re-investing into your regeneration business model (e.g. planting a new tree for every tree you use up) – you will eventually be left with no product to process. If you think that you simply switch to another field – YOU ARE WRONG. Numerous examples in the world-history are showing that giving back to the communities you trade with or sector you rely on – is important for growth and strength of your own enterprise.

Competition nowadays is an enormous and increasing number of people are making their fortunes due to the vast scope of information available and equal opportunities for a start.

YES, I know what I am talking about! You don’t have to be rich to open a multi-million making enterprise. In fact, you don’t even have to have a deposit for a simple loan. Sometimes you just need to believe in YOUR IDEA and sell it to the investors in it’s brightest light without a penny spent. All governments in the world (even of the countries of the developing world) are offering funding opportunities for start-ups. Immediately, platforms of crowd-funding come to mind where commutative support can pay for your initial start and fund the basis of your business model without investment from your side.

Starting a business is risky and YOU understandably would not want to commit to a virtue which might end up in the loss. But if you think that there will be no RISKS involved – it is naïve. As I have said, all down to the circumstance of yours and the nature of the trade you want to be in – but in every single case there will be a range of opportunity, you just have to know what “door to knock on”.

Have the right people supporting you. They don’t have to be your partners, they don’t have to have a stake in the business, but they have to believe in your idea and what most important – BELIEVE IN YOU. This will massively help you to stay motivated and defeat your own doubts and let you face any challenges (and there will be few). The moral support is key, we all humans at the end of the day. Believe in yourself and reinforce it with the belief from somebody, if you can…

I hope I did not scare you too much. These are just extreme basics, but I just want to be HONEST and OPEN with YOU, sharing MY OWN experience and experience of those I met on my way.

So let’s recap now…..if:

  • You are a hardworking individual with a genuine desire to do good for yourself and for the society
  • Risk and Uncertainty are not the factors stopping you from achieving your goals.
  • You are prepared to take “the hit on the chin” and sacrifice your personal wants and desires accordingly
  • You believe in your own idea and feeling confident
  • You have the right set of mind and appropriate level of moral support

 

Than welcome onboard and lets set your ship sailing across the unchartered waters of business and commerce ocean, full of legal icebergs, loan-sharks, trouble-making customers-squids, burning hot credit-sunshine and looting and greedy third-party pirates.

Aye, aye, Captain! Off we go!

Advertisements

1 Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.