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3 Reasons Not to Have Your Own Business

As Bo Sanchez points out in his 8 Secrets of The Truly Rich, people convince themselves that they want to be rich, but deep inside, they are not comfortable of being rich. Same with business.

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Let’s face it. 
No matter how much we advocate it, not all of us are cut to be in business. Or so most of us would believe and make themselves believe. It’s much simpler that way I suppose.

Warning Dangerous Waters by hankinsphoto.com, on Flickr
Here are 3 things to “discourage” every Juan from going into entrepreneurship and business.

Difficult Customers 
Imagine the ordinary day of salespeople in malls, in tiangge or at Divisoria. There will be customers who will ask a million questions about this and that of your business, who will bargain to the lowest levels, and force you to give in (sometimes) but eventually, they will not buy. False hope. Or customers who have above-average knowledge of your products, your supplies and your costing (or pretend to do so). Who will bargain and quote to you that you are overpricing since s/he knows how much your raw materials cost, or that they have cheaper alternatives but still they bother to consider you and your product. Or customers who (really) know more about the product that you sell than you, who will quote all the technical and detailed terms that you never heard of. They will confuse you first before they buy. 


Challenge accepted. Juan must learn, learn and learn. And sell anyway, if not the product, at least grab the top of mind awareness of the customer that you exist as one of his/her options. Who knows, s/he might return someday.


Operational Headaches
In business comes problems, small problems and big problems. Or concerns or issues. Problems you never prepared for, or those never imagined you would encounter, at times too bizarre to even believe that you’re wide awake and not dreaming. Just leaves you scratching your head and smiling out of helplessness, albeit temporarily. Like one time, this big bee’s fast food chain branch in Divisoria had no new supplies for the day and they were just selling one product, the big burger steak with rice, egg and fries. The crew said they don’t have supplies for the day and will have to close by noon. As to who or where the supplier was, we don’t know. No soft drinks, no famous crispy-licious juicy-licious happy chicken, no langhap sarap burpy burgers. It was as if B1 was without B2. 

Imagine, this business has international presence, and yet, it was not exempted from business and operational concerns or glitches. So is your small business. Or more so your small business. Supplier did not arrive, courier who will pick-up and deliver did not arrive. Or your supplies got flooded. Or they did not arrive in your preferred state. Business risks


Challenge accepted. That is why it is important that you are passionate about your business, in what you do. Because it surely will give you problems. Daily. Hopefully more fulfillment and rewards though than problems. And embrace the Japanese’s concept: kaizen. Good change. Continuous improvement.


You Want To But Don’t Want to
Going into business means you need to allot more time, almost no rest on weekends, less sleep, more time again, effort and sacrifices. At least while you are getting started and you don’t have employees to do it for you. But do you want to do that? Hassle. 

Or you don’t want to go into business at all because you don’t want to be your own boss, you don’t want to be rich, you don’t want to retire early and you prefer to be employed the rest of your productive life. As Bo Sanchez points out in his 8 Secrets of The Truly Rich, people convince themselves that they want to be rich, but deep inside, they are not comfortable of being rich. Same with business. Many people toy with the idea that having and running a business is good and rewarding, but are not convinced and convicted to get their feet wet and their hands soiled through honest labor, pain and new experiences to grow the business. If you are not rich now, and you want to be one someday, then you have to do things you never did before, you have to step out of comfort zones and expand yourself.


Want to be truly rich? Invest. Run businesses. Keep on planting. Harvest is coming.

Challenge accepted.  I hope you’re up to the challenges too.

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Photo: Warning Dangerous Waters

  by  hankinsphoto.com 

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About Geri (359 Articles)
Founder and main author. Husband, used-to-be-breadwinner, God-made multi-millionaire, employee, financial planner and adviser, investor, stocks trader, entrepreneur, agri-preneur, book author. Firm believer that all Pinoys deserve a richer life. Not a guru, but a forever student of the investments world, a work-in-progress.

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