subject: Advice For People Who Plan To Open Their Own Business [print this page] Earning only one source of income is not enough for one to provide for one's need and ordinarily if you are working in a office, you will receive only salary in a month and nothing else. So much so that earning passive income is what one wants.
However, others have chosen to venture in businesses. If you chose this path, you might very well know that working for someone else is completely different running business on your own which carries a higher risk that may be minimize if you follow some of these rules.
1. Don't let other people discourage you. For example, your parents might not be too happy when you first tell them of your plans.
Due to the growing number of closures, mergers and acquisitions in this global economic crisis, employees are hard hit through lay-offs. Having an alternative source of income during this time can actually mitigate the impact to your life.
#2. Finding a job is not easy. So don't ever quit your job early. Make sure when is the right time to quit your job. Although, the economy has started to recover, you cannot still just find another job right away.
Instead of whining, you should take time to learn more about the possible business ventures that you can manage based on your skills and resources. Once you have identified the business, you can probably start a small scale to pilot test.
#3 Continue to study. Never stop learning new things, new skills in entrepreneurship. Successful entrepreneurs are doing these that is why they grow their businesses from generation to generation. So be open minded.
Don't forget to remember that all businesses had to start somewhere, no matter how small. Have confidence in yourself and don't be swayed but what others think or say. Keep your eye on the goal and in no time, you'll be able to build a stable wealth for you and your family.
by: Charlie Summers
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