Venture into entrepreneurship (creating a more secure future)

Entrepreneurship has always been viewed to be a risky venture into the unknown and with little to no safety net. Throughout many years and in many countries when it comes to financial security, most will choose a deem-to-be secure employment rather than taking the entrepreneurship pathway. Employment is still believe to be less risky. As such even more so in the present times when so much uncertainties is looming around, many will still try to hold fast to their employment that they still have.

But is this view that the path to financial security through employment which is thought to be safer still holds water? Just by looking around near and far, rising layoffs are happening so rampantly. In fact no employee has any control over their fate when it comes to layoffs. It is not within their control at all.

Hence besides the amount of hard work and resilience that is required in any entrepreneurial venture, perhaps now is the worthwhile time to consider the entrepreneurship pathway.

According to a new report from BizBuySell, a business brokerage and research site, the number of small businesses being sold has not only recovered to pre-pandemic levels, but is quickly rising. And the market for would-be entrepreneurs is hot. Business owners who sold their companies in the second quarter of this year are getting 20% higher prices than those who sold their businesses the same time last year.

If you are pondering on what your next step to financial security is, and if entrepreneurship could be it, the following are a few important points to consider;

1.       Which side of the table - It is important to understand “which side of the table” you want to be seated. On the inner side of a table is where control lies while the outer side is where control is being applied. In another words the one who has control decides the fate of the other one. In todays’ looming unemployment, many are on the receiving end of the control. So it is very important to decide “which side of the table” you want to be seated. Entrepreneurship allows you a seat on the inner side.

2.      Knowledge reduces risk- Entrepreneurship entail risk. That is for sure. But risk can be reduce through knowledge. The more knowledgeable you are on a subject matter the better aware you are on what to watch out. This reduces risk. Another way is to engage trustworthy experts who are experienced and possess wide knowledge to advise you. Theory alone kills! 

3.      Less people more share – Because entrepreneurship is deemed to be risky, less people will want to be involved in it unless it is truly their passion or they do not have a choice. So this means in a given market there will be less entrepreneurs but with a larger share of the market to go around. In addition for those who becomes an entrepreneur because they do not have any better choice, chances is that their heart is not there and therefore will not pose a great competitive risk to you.

4.      Create own future – Entrepreneurship is one way to create own future. It takes hard work but the benefits can be enormous and very self-satisfying. The benefits can range from personal development, realizing own potentials to financial freedom. And one can also create a legacy that can be pass on. With all the uncertainties that is happening, this is one better way to create a more stable future that last.

5.      Life-long learning – This is one of the most important aspect of human wellbeing. In entrepreneurship one has to keep learning new and upcoming development in those areas that will shape and change their business. Such learning keeps them highly alert and motivated to keep going. Allowing one opportunity to keep learning open up more opportunities for the entrepreneurship to grow and branch out further.

By weighting in all the aspect of what entrepreneurship can do to your future, it is indeed a very worthwhile consideration for future planning. In fact with so much development coming out from artificial intelligence potentially replacing a lot of task that human is doing, entrepreneurship with its creativity is one very unique way to keep one useful while tapping on artificial intelligence to become even more useful for own future.  

Finally, you want to be the one who create your own future and get to sit on the inner side of the table.