Recently, several friends have mentioned wanting to start their own businesses, like opening a shop and selling things. I didn't realize so many people share this dream. I'm not a particularly successful businessman, nor have I achieved entrepreneurial success, but I might be able to write a few things to see if they can be of any help.
Perhaps because I frequently tried different things during my school years, failing and then trying again, looking back now, it's essentially a continuous cycle of starting businesses, failing, and starting over. I tend to think that entrepreneurship isn't easy, and it can't be described as a "dream." Because a dream seems like an "end," something you achieve and that's it, life is complete, and the prince and princess can live happily ever after. Unless you have a lot of money, I think entrepreneurship isn't like that; it's a process of constantly falling down, getting back up, and solving problems.
My friend already has a full-time job and wants to open a shop to gradually build up his income. In the long run, he plans to quit his job and support himself solely through his business. He intends to spend about ten thousand dollars a month to rent a place to start his business, with a lease term of one year.
In my humble opinion, we shouldn't rent a place at this stage. After all, we don't yet know how well the business will perform. In the worst-case scenario, we might have to pay 10,000 x 12 months, totaling 120,000, to try out this concept. Of course, not all businesses can operate online, but if possible, we can try operating online first to see if we can find customers. Only after we start building a business should we consider renting a place. If the business can't be online and we have to rent a place, I think we can try renting a cheap place for a few thousand dollars first. I know the next problem is that the location might not be ideal or the size might not be big enough. In that case, we might need to adjust our business model and operations to fit the cheaper space. In summary, of course I want my friend to succeed, but I especially don't want them to lose money because of this. If they fail at the beginning, they might give up the idea. Later, they might have a chance to succeed, but they won't try again. After all, 120,000 is a lot of money, and it would be best if they could avoid losing it. Let's say renting a place at half price, 60,000 would be better.
Another question is whether or not to quit your job and start a business. I think it's a bit difficult to generalize about this. I tend to think that if you want to do something well, you should do it wholeheartedly. Because if you only do it occasionally, you can't do it well. To do something well, you need to integrate it into your life. You need to be more attentive than when you're at work. For example, you should think about it while you're showering, while you're out shopping, watching a movie, or eating out, and you might even get inspiration while looking at the toilet paper roll in the bathroom. That's how you can do it well.
However, this doesn't mean I support quitting your job to start a business, because the risks are simply too high—after all, running a business is a difficult undertaking, and failure is very easy. I'm struggling with this every day, so I understand the difficulties very well. If you're just starting out, doing everything for the first time, it will be even more difficult, and I understand that (because I am too). I think if you can achieve your desired business without quitting your job, try not to quit. Try to learn to balance your full-time job with your business, because this balance and how to motivate yourself to do both are very useful skills in the future, so this is a form of training. In addition, you can still get income from your full-time job, preventing yourself from being left without support if you unfortunately fail. Stability is always very important.
However, once you've reached a certain level and feel you're starting to have a group of customers who are responding well and genuinely like your product (this can only be achieved by acting with your best intentions, not just thinking about making money), I would suggest that if you're truly committed, you should resign. Because you need to start taking responsibility for your colleagues (if any) and customers. They shouldn't only receive half of what you give; you should give them your all. When you buy a product or eat at a restaurant, you don't want to know that the boss only put half their effort into that product or food, right? Put yourself in their shoes; you should give your all in the same way.
I believe that doing business requires sincerity, and if you've reached this stage in your entrepreneurial journey, go for it and dedicate yourself fully. I hope this helps you, the reader!
Ryan
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