Rich Dad’s Cashflow Quadrant: Guide to Financial Freedom by Robert T. Kiyosaki talks about different paths we can take. Thich Naht Hahn observes, “The path is the goal.” Therefore, finding a path in life, should always be the highest ideal. In the business book I have mentioned, there are quadrants such as ‘E’, ‘S’, ‘B’ and ‘I’. ‘E’ stands for employees, ‘S’ for self-employment, ‘B’ for business and ‘I’ for investor.
Employees earn in jobs. People in self-employment earn by working for themselves. A business owner, runs an enterprise generating money. An investor gets money from investments.
A recent survey indicated: 87 per cent of employees loathed their jobs, 50 per cent felt unsated by their jobs. 25 per cent said their jobs were stressors, 41 per cent lived from pay-check to pay-check, 70 per cent were demotivated by their jobs, 50 per cent felt underpaid, 67 per cent felt were in wrong jobs, and 72 per cent felt they were undermined in their places of work. This may make someone to opt for self-employment. Begging the questions: Do you wish to move from formal employment to self-employment?
Do you want to rely on business as the main source of handsome income? Do you plan to start a profitable business after you retire yet you wish to ‘re-tyre’? May be, before you take that bold step, advisedly, pore over You Don’t Need a Job by Dr Kinyanjui Ng’ang’a (PhD). In that unputdownable book, the putative author contends, you were designed to work, not just to be employed.
You were designed for an important assignment, which is inextricably bound alongside our inherent gifts. Therefore, we lift every gift. As we stop succumbing to ferocious fangs of fear (false evidence appearing real). Largely, as an employee, someone enslaves you unknowingly. The salary earned, determine where we stay. Joints we visit. Jaunts and journeys we embark on.
So, are you perpetually growing tired with your job? Is your job a stressor? Walt Disney observed, “All our dreams can come true when we have the courage to pursue them.” True security is only found in prison. In the free world, however, you cannot be guaranteed 100 per cent security.
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Therefore, do not kill that dream in the name of job security. For job security itself is an oxymoron. Arguably, there is eventually more security in self-employment than formal employment. All we need, is to brace up yourself for the thrills and hills ahead. Pay the set-up price. For nothing worthwhile is accomplished in life without a serious streak in our resolve.
Meaning, before you fire your boss, manage your transition strategically. Never burn relational bridges. Do not kick the ladder that lifted you. Keep relational doors open. During your transition from employment to being an employer, you need to be crystal-clear on your impact and income plan.
Again, strive to put in place a financial plan that will cushion loss of regular monthly income. You must have a plausible plan on business growth and development. Focus on business network analysis. Process and strategise networks including business financiers. Identify, and profile your customers or clients. Cut an imperishable niche. Put up a business system.
Focus on growth accountability plan. In case you plan to venture into private practice, your current job is supposed to give you seed capital and corporate experience before you cast nets to find fish.
Taking a loan can work for an entrepreneur. But risks must be calculated. Do not be blind like bats. In a page-turner I read recently titled 10 Secrets I Learned from the Apprentice, Anthony Parinello and Bettgotfried contend that top achievers know that taking chances is an essential prerequisite to success and progress.
They know, failure – or, to use the most acceptable term, ‘temporary setback’ – come with the territory in case you plan to occupy a certain corner suit someday. The unique technique does not abut on dodging chances altogether, but to selectively choose correct risks: the ones that present infinite spectra of opportunities for you as an individual and business.
Majorly, how do we test a business idea? First, we check on passion and natural inclinations. Mostly, our purpose in life is inherently hidden in such stuff. We are always wired for purpose: reason of existence. For us to access success, we must be careful on the choice of mentors. We should never be mentored by losers. For there are people who teach about entrepreneurship up to PhD level, but have never operated even a kiosk.
Yet, someone cannot give what they do not have. Most of the big shots in business had great mentors. 20 years from now, we will not regret on what we did, but what we did not do. Oodles of opportunities we missed because of indecision and inaction. Age has a way of reducing our energy levels. So, we should not overstay in a job situation until our determination dwindle and die.
Finally, the traditional school taught us to specialise, and be known for one thing. But to run businesses, we must be prepared to learn a wide range of disciplines to an extent that we can offer overall direction and leadership to our enterprises. Investing in self is a stupendous strategy. Synergy entices energy.
Business is done by people, for people, and through people. Therefore, in case you want to access success in business, then you must win with others – employees, customers, clients, suppliers, partners, and service providers.
Business is all about people, and committing all your endeavours to God for good guidance. Then, Cups of the wise are never full. The wise never graduate from learning. They are always engaged in a never-ending learning cycle. Their knowledge cup always has space for more knowledge. Life-long learning is the last open secret. As we take heed of the wise words of Alvin Toffler, “The illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn and relearns.”
By Victor Ochieng’
The writer is a corporate speaker. vochieng.90@gmail.com. 0704420232
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