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.

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.

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.

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

because media tells you Health is more important than Money. Without Health got money also not much use.

but wait until economy reach it's abyss. that time, you want health also no money to buy.

you expect too much in life, be prepared to get disappointed big time.

there is a reason why Kampung folks & less intelligent people are usually more happy & content with their lives even though they are poorer than smart big city people like you.

that is the story he tells you. in fact, that is the story all successful businessman tells you.

they will never tell you the real story & their true secrets.

You don't even know who is behind Jack Ma.

business world like green virgins like you. taste nice & tender to bite.

if your business no need much money or you have the money to splash then feel free to.

assuming you can handle the stress of 24/7 thinking about your business.

wait another 10 years come back here & update us.

Fire is always fiery the early years. Just like chicken droppings is always hot for first 3 minutes.

they way you say it either you running a small business you don't really care if it fails because the stake is low or your running a Billion dollar corporate with full staffs & assistance to handle to day to day business operations and you just need to consult & sign.

that is why insurance & medical saving schemes are there. also there is FD to cover inflation.

As for your 2nd question, i'm sure for most people, as long as there is electricity, water, internet & good security and easy access to food & post office they won't mind moving there. problem is they can't find the job they want.

passing the torch doesn't apply in Malaysia.

no matter how great you treat your boss & how much he likes you, he won't pass the torch to you, at most he wishes you all the best. you are not related to him.

in US maybe, like Buffet, but not in Asia countries.

when they start to do well you will not hear from them.

so check back with use when they finally give you a call.

I'm sure ASB return is much higher than many business.

easy way is ask them would they make a different choice if they had one (i.e not venturing into business). 9/10 will tell you yes unless they really successful and money is all they care)

I think people are forgetting 1996~1999.

The amount of suicide cases on businessman & investors facing bankruptcy.

I'm sure if in Japan, it's common for employees do suicide over the lost of their jobs.

you not born with silver spoon you try to act like you do you choke on the spoon you try to eat with.

no big head don't wear big hat.

those people got silver spoon no work biz will also be good.

then either the money invested means nothing to you or you have no interest in the business. chances are you gonna say goodbye to your money anyway.