With economy going down, many /k started asking question about starting their own business.

My advise is: "Don't."

Many people like you had a decent job but decided to venture into the business world & end up going back a 9-5 job instead, and no it's not because they lost money or business was bad, these are the secrets no businessmen will tell you.

1.Being the Owner is very different from being an Employee, Employees typically work 9-5, once finish work they don't need to worry about job, some work OT but they get paid, some prefer to bring their work back home but it's their own choice. Thing is most employees don't need to think about their jobs when they go home. Owners, on the other hand, have to think about their business & work 24/7, while you are happily streaming youtube or browsing fb at home your boss is pulling his hair thinking about the business.

2.You don't need to worry about Company's revenue, it's company's money, boss problem, not yours. You do your part that is all you need to do. Boss, on the other hand have to think about their financial status 24/7, worry about shareholders, worry about company sustainability, worry about not able to pay their employees, worry not able to give good bonus to employees, worry about stock value falling, worry about not getting their business licensed renewed, worry about local religious agencies, worry about local councils etc.

3.You might feel you are the one doing all the jobs, and boss looks like goyang kaki, well, if their job is to look like what you are doing why bother hiring you? Because many things they need to do don't get shown to you employees like they show in the movies, they have to handle higher level jobs that you cannot handle, like lobbying with government, finding & negotiating with clients & suppliers, making crucial decisions.

4.Boss need to worry about business survival & bankruptcy, you don't need to worry about anything even if company business is bad. worst case company close down you find another job in another company, while Boss, lost money is lost and they have to find ways to recover, might take 3 years, might take 20, some never did.

5.Boss have to worry about how to use their wealth, with so much money comes so much burden, which car to buy? which house is better investment? should they go Tag, Rolex or IWC? Which golf club is better? They worry what if they bought the wrong Ferrari that doesn't suit them? What to do with so many golf clubs at home? Which country should they go for vacation? You on the other hand has much less to worry about because you can't afford many things so you don't think about them, you just focus on few things in life, and since you don't have much choice you feel easily content. Content means satisfied, a satisfied person is a happy person. You don't have to worry about the money in your banks. Remember this:"You are not your bank account(s)". Having more stuffs also means more "Weights" in life.

6.Boss have to make wise decision in who to hire, who to manage their operations, who they trust, who to befriend with, whom to Marry, who won't betray or take advantage of them while you, anyone also can be friends because you are just a normal person, so they say sugar attracts ants, you have less sugar, so less ants.

7.You can take rest during office hours, take a smoking break, browse /k, play handphones, because you see your boss always playing with his phone(s), well what you don't know is he is probably texting the financial minister for business opportunities while you are shooting angry birds down. You think you are doing the same thing your boss is doing, well, think otherwise.

8.If things go really bad, you can just pack up & leave, business owners can't do that, they have their business, and employees to take care of.

9.Boss income varies, while yours is fixed. Yea on good years they make more money, but on bad years they have to pay your salary out of their own pockets. You know you can pay your car loans next month because you will have your fixed salary, boss have to lelong their houses when business is bad because they have to pay your salary so you can continue servicing your loans and not get your car towed.

The responsibilities & stress business owners carry is too much, losing sleep is a common thing, this is why many business owners decide to go back to their 9-5 deskjob because it's much easier. You, on the other hand, want to jump into the fire, they came out from the fire burnt telling you not to, but still, you jumped in, and get burnt.

ini soalan ke cadangan

WHere you copy that wall of text?

oh and tldr

open business become a boss is not easy....

i wont say you are wrong but not entirely right either

depends on what kind of business are venturing into

even small online biz you have to spend your free time and then think about the sales when you sleep. i say enjoy your 9-5 job & #YOLO after office hours.

make so much money also no use if you cannot enjoy life truly.

there are things money can buy, there are also things money cannot buy.

more money you have, more to lose, which holds you back in life.

That is the truth. Only go for it if you can afford the learning experience.

Very recent example one of my cousin quit his job to open a business which would be a conflict of interest while still employed. End up having to price down to get customers which will go to anyone who price down.

Across all industries , very few have high margin. Most are just kinda making it hence ADS everywhere

What you are implying is a good knowledge and quite good details of what is going on and off.

I have to agree partially though.

What I don't agree is only to the point whereby some employee jumping into the fire whereby unless we know exactly what industry they are jumping out into and whether they have substantial amount of clients to serve. It's really hard to judge then.

Yes, there is a lot of secrets of success and failure which we don't get to know or shared in order to prepare oneself to handle their venture well.

After all, no risk, no gain.

If your expertise as well as your clients are constantly coming to you rather than your company, any soul will start to think why not taking this venture by starting a business?

I know it's not exactly what I mentioned above happens to many entrepreneur outside, after all, it's supply and demand kind of thing.

When it's good, they reap from the profit. Otherwise, they either can think of a better plan or like you said, going back to 9 to 5 desk job.

Nobody said it was easy. If it was easy why would everyone bother looking for a job?

ini cadangan ke soalan

Hire employee and competition are problems.

i can say majority of people here thinking of jumping into a sector that has little to do with their job & expertise, like opening restaurants when they don't know how to cook, or never cooked in their life, or jumping into cafe, clothing, fashion, and most of them know nothing about economics, finance & accountings.

rarely people venture into the business they profess in, because they know entry barrier is high and lots of hidden tapes or cables you need, so they gave up their profession and venture into something they think is "Open Market". Not knowing there is no such thing as Open Market, every Market has their Big Players, just some you don't see them because they open shops with different names or under different companies.

those that start their own biz in their professional field usually highly skilled in the field, but these people are very rare, usually they get promoted high enough or gets some perks so they don't leave their comfort zones, many that do, end up going back as employee due to the stress that came with the money.

sure, tell you you will make $1 million this year you will raise both hands without thinking, later, you start to regret the time & effort & stress involved.

most people find job because that is how they are brought up for. Study, Graduate, find job, marry, have kids, raise kid, retire, rinse & repeat.

many think about start own biz and work is just temporary, that is why majority employees in Malaysia are lazy & don't put effort into their works, always day dreaming about their American Dream.

You know not easy, but most /k don't agree with you.

i believe if you have a strong business plan, you wont fail.

everyone can blame the economy when it is bad but are you saying no company will survive during bad economy?

example of two companies that was doing extremely well during this current economy crisis is Hap Seng and Ekovest. These two companies are not selling ordinary goods which ordinary people can afford to buy. They are selling luxury products which costs a fortune to some. Yet they sold even more as compared to better economy days.

I don't know about enjoying one life right now when I can't see myself progressing in the sense of having my future investment protected.

Yes, work life balance is important rather than having so much money when one will only end up using the money to treat themselves in the hospitals. But, you do know that raising cost of living is something not to be ignored though.

What you are working hard right now, might or might not be able to reap good profit in the future. But if we are to perceive to live adequately, how can one sustain and live in this constant changing environment of our world?

We can always live and think simple, but our life in our country will never ever be simple.

Long time ago, Alibaba Jack Ma was seeking funding and advice from his best friends

His friends reply was "don't"

The initial Alibaba got delayed but now...

alright /k. you heard TS. jom semua makan gaji saja.

we aren't talking about failure bro. failure is just part of the business. but the stress is not most people can handle.

Well when you're young it's actually the best time to come out and do business. Most people I see earning 5k and above with either a house or car to pay would not consider since they area already in the "zone".

TS mau less competition.