The COVID-19 pandemic which started last year caused a lot of disaster in people’s lives in general. Companies and businesses were forced to shut down in order to curb the spread of the virus, some employees lost their jobs due to profit losses. Having been dependent on a stable income (salary) for a long time created a lot of tension when the table turned around. Remote work and entrepreneurship have been receiving a lot of attention lately due to unstable income.
Entrepreneurship Comes Up with Innovative Ways
Entrepreneurship comes with a lot of responsibility and forces you to come up with innovative ways of making money. Archaic business models no longer work, you have to value innovation in order to stand out and lead from the forefront. This means sometimes you will go for months or years without making a profit. How resilient are you to stand firm and make preparations for the future? If the answer is no, then entrepreneurship is not for you.
Do Not Put All Your Eggs in One Basket
You have to be strong enough to work on your business without expecting something in return. What about your bills then? As a well-rounded entrepreneur, you must expose yourself to the concept of diversity. Depending on a single income is a recipe for disaster, that’s why it is recommended not to put your eggs all in one basket. Let’s take, for example, you wake up and decide to invest all of your money in a promising startup. 6 months down the line everything goes south, your investment and potential returns have all gone down the drain. Was this a sound business decision? Definitely not!
Focus On the Big Picture, Not The Numbers
It’s easy to give up on your dreams and settle for an average 9-5 job than to follow your dreams through. That’s why most entrepreneurs consider themselves crazy. Just look at how Bill Gates dropped out of university to start an operating system in his garage. If your main focus is on earning a stable income and living a risk-free life – then entrepreneurship is not for you.
There are so many risks that business people expose themselves to on a daily business and this includes not looking at the numbers, but focusing on the bigger picture. The important thing is to set your intentions, wake up every day, and make little choices that will move you closer to having your dreams come true.
Michael Djan
Baobab Entrepreneur
Digital Marketing Blogger/Content Writer @ frencheducationgh.com
