On a global scale, millions of small businesses are formed and all these businesses have the ambition to become sustainable and survive their formative years.
It’s a gruesome and challenging environment out there for small businesses to maneuver. To challenge the big established entities the small businesses owners, need a whole lot of expertise, knowledge, and techniques to give a fair challenge to the big established entities who have massive experience, more capital, and seasoned experts to make decisions. A lot of learning is required so that decisions and administration give more life to the new businesses.
A lot of attention has been channeled towards side hustles and small businesses when people are still employed with another company. This is a very good way of establishing your own company however sooner or later you will be in a dilemma between your job and your business. Many people become reluctant and start to hate their job thinking it evades them from contributing effectively to their small businesses.
Many people nowadays hate working for someone and this has affected young aspiring entrepreneurs who have a brighter future in the business world. You can learn a lot from work before you start your own company and by that, you enter the field already with a handful of experience. The industries may be totally different but business ethos will always be the same.
Notable business gurus in the world like have a history of being employed somewhere before they also started their own enterprises. Business is all about minimizing costs so that you get a good return on your investment. When you have a strong background in how the business operates you will save your money and time. This is one of the biggest advantages of working for someone before you start your own. Here are four key lessons you can benefit from working under someone an entrepreneur
Networking & Connections
If you are in business, you will appreciate the fact that it’s hard to just go to other people’s spaces and introduce yourself as this small business owner and be fully appreciated. People respect titles and positions in the business world and when you introduce yourself as someone from a bigger institution you may be given a better attitude than an unknown company.
This can be an advantage for small business owners, you can introduce yourself as an employee for this big company but you can also mention that you are running a small business that does ABC. This will give you some respect at the same time and the opportunity to meet great people in the business world.
Even at big corporate functions, big companies are most likely to participate than small upcoming businesses so as an employee you can also use the opportunity to be among big companies’ networks to also make your small business known.
Practice Customer-Employee Relations
A business needs people either as employees or as customers, dealing with people remains a critical component of a functional business. Employees will give you some hard time so will the customers. You will have to learn to deal with the two sets of people mentioned.
Employees need good management and with you being an employee somewhere you learn what works. Practice makes perfect and when you are in a big company that gives you a chance to talk with clients and other employees. With that, you stand a better chance of giving able leadership to your own company.
People are diverse in their thinking and conduct and you need to be trained in dealing with different types of people so being an employee somewhere will give you practical experience.
Learning For Free
When you are engaged in a company that is operational you will be learning how things work in business. This isn’t theory but the practical day-to-day running of a business which you learn firsthand.
Running a company isn’t as simple as it seems so being around an environment that provides you with practical knowledge that you can copy and apply at your own company is critical. The same knowledge you pay a lot of money to acquire can be acquired for free from being employed under someone. You have to see it first before you can do it so that you can avoid the same mistakes and blinds that may derail your company’s potential. Working for another company will also make you realize your abilities as an individual. You will also learn about the things you are not good at so that you know when to ask for help when needed.
In business reputation is everything and you can’t afford to mess up your reputation so being under someone allows you to self-examine.
Many businesses need a lifeline before they start to return profits and as an entrepreneur, you need to have a base that will supply you with money to make sure you remain stable.
Many businesses close not because they have directly failed but because they were not given enough time to build before they start to give profits. When you are working you will have a salary which you can use to sustain your personal life.
You can also use the money to invest in the business so that you prevent borrowing at the earliest stages. This is fundamental because borrowing at the earliest stages will make you vulnerable as an entrepreneur because of desperation you are most likely to give up more than you should.
Working under someone will help you with a bit of stability financially which is essential to every aspiring entrepreneur because if not you risk closure of the business or selling it to someone too soon.
Working under someone has been degraded in recent times and many have seen it as something that is done by lazy people who are not ambitious enough. However, I see it as something necessary for young people to learn the edges and curves of the business world at a much faster pace. The goal is to establish something sustainable and rewarding not to just rush and fail and, in the process, tarnish your name and reputation because once tainted it will be hard to regain.
Article by Munyaradzi Zindi Chikomba a Research Analyst ||Development Consultant || Co-founder & Executive Chairperson@Shanduko Foundation. His views are personal and they do not represent any organization or institution he is part of.