Start your own Business. don't run after Jobs!

After the liberation of Goa  the gates for the Government jobs were wide opened. The vacancies in the  government offices were filled with the officials from Maharastra, Karnataka on  deputation as experienced persons were in short supply or almost not available in Goa.  Every one in Goa was looking forward to get the Government Jobs. Qualified as well as non qualified. Each one was jostling to get the Government jobs. Non were keen to start their own businesses. Even the expert tradesmen and artisans abandoned their ancestral trades and crafts to join the government service. It was lucrative and lifetime guaranteed job.

Half a century later the employment scenario in Goa has changed tremendously. Goans are well educated and talented, but Government cannot provide employment to each and every One of them. And so do the establishments in private sector. There are very few employment opportunities in Goa. Well qualified and talented Goans after passing out from the respective educational institute, look forward of migrate to Pune, Bangalore, Hyderabad, Mumbai or Chennai seeking lucrative assignments. Few join their family run businesses and very few show inclination towards starting their own enterprise.

Why start your own business?

There are a lot of people who are not really clear on why they would want to start their own business. But they know for sure, that there are lot of benefits of growing a business into a big company. At the same time they are aware that they will have to put lot of efforts and struggle for its success. In reality there are lots of excellent reasons that you would want to start a home based business.

The main reason that most people want to start their own business is for the money. Over the long term you are going to make more money running your own business than you will be working for somebody else. 

The second reason that you want to start your own business is for the job security. These days there is no security in any type of job. The employer can hire and fire the employee as and when they decides, depending upon the performance or company policies. Nothing is certain. It is an outdated thinking that having a job was safer than starting a business.

The other reason is that, there are some people who choose to start their own business simply because they hate the idea of working for somebody else. There are plenty of people out there who are perfectly content to have a boss to tell them what to do, however there are also many who really hate the idea of having a boss and can't work for others. And these type of people are better suited to running their own business than to work for others.

Still one more reason and the real attractions for starting their own business is the fact that their time is their own. Of course, when you start a business you are going to have to put a lot of hours into it, however for the most part you can choose when those hours will be.  And even if you put more hours, you know that you are building your equity into your own business rather than working for someone else overtime. Ultimately this may be the best reason to start a business, as it allows you to work towards something that is all yours.

Should you start your own business or no?

The present scenario in Goa is very conductive for business and trade. Travel any where in Goa. Right from Pernem in the North to Palolem in South or from Valpoi in the East to Vasco in the west and vouch for the traders and businesses.  Along with our Goan traders, you will find several migrants who have established their enterprises and they are running them successfully. Be it a laundry or a grocer or a building material supplier, these traders and businessmen are successfully running their enterprises and expanding. What does this trend depict? It shows that there is ample scope for commerce and trade. If this migrants can come down to Goa and invest their hard earned savings and take a risk to start their ventures, and be successful, why not Goans start their own businesses? Goa is a right place for the small businesses to succeed. Goa is a fertile market for small ventures that can be run successfully. 

You don't need an MBA or even any previous business experience to get started. What you need is your own idea and knowledge about your product or services and a thorough research. You need a business plan and little bit of support from your family. Planning is helpful even if it is a small business. Plan properly. Don't ignore this step. Take your time to get through your planning stage. Web businesses can survive on less planning than traditional businesses. If you have a complicated business idea then more planning could be quite useful. Either way, no matter what kind of business it is or how modest its beginnings might be, make the time to plan out a new business. Running your own business is both challenging and risky. 

I have observed that in most of the new start ups, the new entrepreneurs lack support. Be it financial, moral or advisory. Support at  this stage is important. Support motivates the entrepreneur towards ones Goal. So before you invest your time and life savings into your business idea, it's important to fully understand what it takes to be a successful business owner. Moreover, Increasing your knowledge is the best thing that comes from reading articles filled with tips for helping your business.

With the advent of internet and electronic commerce, the number of people running their own home based business has been growing rapidly over the last few years. There are a number of reasons for this, some do it for the money, others for the flexibility and some because they have no other choice after losing their job. The main reason however is that there are a lot of benefits to running your own home based business.

Start Small - start from home.

Vibrant Goa is the right place for the young entrepreneurs to start their  own enterprise. Instead of seeking jobs outside the state, the enterprising youth should start his own business from home. This is the best time to start your own as you come out of the university with your own business ideas. Then there are plenty of opportunities for the housewives and young girls to start small ventures and most home businesses can be run profitably. From a baby sitting to beautician or from accounting to secretarial services could be provided by the women folk. More importantly there is no risk that you will lose your job and you don't have to be away from your family and give more attention towards your kids.  Having control over your own future and income will actually give you much more security than relying on somebody or working for someone else. 

Many successful businesses today were started part-time, in someone's flat or garage. With careful planning you might even be able to start your own business during your leftover time at work or after office hours. Forty years back, before heading for Middle East, I had started my first small venture of office supplies consisting only specialized coated Papers to Architects and engineers, that I was running after office hours from a table space. This extra hours might take a toll on your health and family life and your business might be successful. When you get to the level where you are assured of significant revenue equivalent to your earlier pay and when you have several steady customers, you may say goodbye to your employer.

You know very well how tough it will be to quit the job. To give my personal example, I was the only earning member in the family and my mother disapproved my move and was in distress when I resigned a secured Government job, to take on full time business start up. Now I left the job only when I was one hundred percent sure, that my earning was steady and exceeded the figure that I was getting from the Government job.  It is a tough decision and you will have to be passionate and determined to take it forward  because it is what will push you through the tough circumstances.

On the flip side, you should also plan for possible failure. Number of new businesses have failed (most commonly due to lack of finance, poor management and lack of planning), but failure still can be the highway to success. 

Your own business versus Job?

Starting a home based business allows you to make more money than you could make with a regular job. In general people who work for themselves make more than people who work for somebody else. Once you take a job you work from nine to five and your freedom is curtailed. Your income is limited. 

You will find that by starting a home based business it gives you a lot more control over your time. You will of course have to put in many hours of work if you are running your own business but at least you will be able to choose when those hours will be for the most part. In a job, you work as per the timings of your employer.  You need to register your attendance. If you don't work, you are not paid. 

The other huge advantage is that your business is up and running  with pretty minimal start up costs. You don't need to invest in the office or showroom space. Plus you don't need to buy costly equipments as most people already have things like a computer, internet access and a telephone or an vehicle or a two wheeler as a mode of transportation. 

Most people really wouldn't think it but running your own small business will actually greatly increase your job security. A lot of people avoid going into business themselves because they think that it is too risky and job is the best option. I totally disagree with it. It is the business that leads you to prosperity and financially secured.

So, take a step forward. Start your own business. Good Luck!