Thinking of Starting Your Own Business?

5585174543_002d0c3b08_oWe all have this deep desire to be free and do the things that make us happy. We often have the idea that we will open our own business and earn our own money, make our own rules and change the world. Can this happen? Can we make this a reality in our lives? Will we be free?

A business owner, and especially a small business owner, is often referred to as an entrepreneur, but does owning a business make you an entrepreneur? Simply, yes, but by true definition you are only really an entrepreneur if you can solve other people’s problems, and if they are prepared to compensate you accordingly. This sounds ideal, but is it really that simple? I don’t think so.

What are the problems I am referring to here, what problems can we solve for people? Well the bad news is, they actually have money problems and they are trying, just as hard as you, to accumulate the money they need in order to survive, pay the bills and educate their children. We have not even started on the lifestyle, which they feel entitled to have considering they work so hard for the bit of money they do have.

Let’s look at the concept of money: As we know, most people work for money, effectively they exchange their time for money. This concept is all about supply and demand, if your skill is in short supply you can negotiate to be paid a little more money than someone whose skill can be found everywhere.

Similarly the person starting a business often provides a service and exchanges time for money, he becomes slightly more successful when he is able to duplicate some of his efforts by employing some more people to offer the service with him and therefore earns a little extra from the efforts of others. The same can be said of a person starting a manufacturing concern, if you have enough capital to set up the factory, then you can employ (get people to exchange time for money) others to work in the factory and hopefully duplicate your efforts quicker and earn some real money. This, however, will take plenty of capital. If you don’t have enough capital you could always borrow some from the banks and therefore duplicate the banks’ efforts, causing them to earn good money from your efforts.

You made have heard the term ‘let your money work for itself’, or a recent advertising campaign in South African where a local bank suggested that your money is going about making lots of little ‘money babies’ for you. The concept is cute, but many people will tell you that you cannot save yourself rich and working will not make you rich. However many people will try because they actually believe their money can work for them.

This concept of having your money work for you is actually your pride suggesting that you have enough, that now you are entitled to be the boss and use your money for you and not actually to work for you. At this stage we often see people paying others to do the things they normally did for themselves, you always mowed your own lawn, cleaned your own car and cooked your own food but now ‘the concept of convenience’ has suggested you no longer need to waste your time doing that. You can outsource that to others and use your time more effectively to make some more money. If this is how we do things, we need to congratulate ourselves as we give the worldwide economy the impetus it needs. In fact economists all over the world have been studying these behavioural patterns for centuries and you will just be part of history.

According to Einstein doing the same thing again and again expecting a different outcome is insanity, so by definition we are more insane than Einstein…

Work for Money?
If we work for money we get paid according to our effort and the agreement we have entered into is ‘our time is equivalent to a certain sum of money’

Solution : Allow Money to work for Money
If I am exchanging my time for money, there is a moral dilemma as I am effectively asking someone else to become poorer so that I may become richer, this is a win/lose situation.

How then do we create a win/win situation? Well if I can help you make money, then will you not be prepared to give me some of the money you never had in the first place? Yes you would be silly if you thought that was unfair, so instead of me begging for some money in exchange for some of my time we could both benefit from this idea.

This is true entrepreneurship, this solution is more than a solution and the possibilities are infinite, no one loses and there is a potential to get rich – and you have just broken all the rules everyone ever believed about money.

You need to work on you, and allow money to work for money. It is an unlearning process more than it is a learning process. As Jim Rohn says ‘Formal education will make you a living; self-education will make you a fortune’.

If this message resonated with you in any way, if you would like to explore new possibilities, I am looking for like minded people to work with – contact me at richsimmondsza@gmail.com [to join one of our free discussions please complete the form below]

Photo credit: jonlclark / Foter / CC BY

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About RichSimmondsZA

Father | Professional Speaker | Top 50 International & Forbes Top 10 African Social Influencer | RuleBreaker and ChangeMaker | Author 5 Night Plan & MugAndTweet Books
This entry was posted in Inspiration, LEADERSHIP and tagged , . Bookmark the permalink.

3 Responses to Thinking of Starting Your Own Business?

  1. Tell me more please. Looking for this type of new opportunity.

    Like

  2. Ephantus says:

    Great article there but needs to get more this knowledge for knowledge is power. Thanks

    Like

  3. Pingback: Thinking of Starting Your Own Business? – thilognedierrysite

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