Before pandemic hits, having business is just an option to most people after they retire from their jobs. Most of the aspiring entrepreneurs view business as an alternative to their main source of income.
Now, the wheel has turned. Business must be your main priority to have. Here are 4 reasons why:
1. Online Works
Due to the restrictions of government, many companies have resorted to allowing their employees to work from home. At first, it was difficult to set up the work flow and monitoring of their employees remotely, but now, after more than a year of operating online, many companies have realized that they can continue in this set up to minimize over head expenses of having offices for their employees.
That means, if you are someone who lost your job during this time, the chances of getting back your employment status before will be a challenge.
2. Unknown Future
No one expected this crisis to happen and no one can predict when will this end. Our only chance to survive financially is to become creative in making money. I have interviewed a lot of business owners, big and small, local and international, but no one knows what will be the “new normal” look like. The only thing they know is we need to be flexible and decisive in dealing with the current times.
3. You can take control
This times proved that we are not in control as to what will happen to the economy or what our employers will do when a crisis hits or even on how the government will handle the situation. Of course this affects our financial stability since we depend most of our income from the companies we are working for.
Having a business of your own gives you a measure of control to how much you can earn. With a spark of an idea, proper behavior in management of your business funds, the right suppliers and excellent customer service, you can gain back the control over your finances.
As you work in your business, you can look at what works and what’s not and then create a plan of action to improve your product or your service. In this way, you are not totally dependent on the outside factors but you have a say on what will be the outcome and return of your hardwork.
4. Jobs must be your alternative source of income
Once you have established your business and you have set the systems in place, there will always be a possibility of going back to your work once the restrictions are lifted. By then you can decide if you want to go back to your previous line of work again. But for now, due to a lot of variables and uncertainties, the best time to do is to maximize the resources around you and create a source of income by creating a business idea.
You never know, maybe you don’t even need an alternative source of income if this worked out.
If you want to learn some business ideas, we are conducting FREE seminars on how you can start a food business that you can do with very little capital and in the comfort of your own home. You can visit this link to register: FREE SEMINARS
Author: Jay De Rosales
Jay De Rosales is a Mechanical Engineer turned businessman. His passion for business and his desire to help other people start their own businesses fuel his work as an entrepreneur. He started his company last 2014 and he has vast experience in manufacturing, distribution and franchising.
He has been invited to business conferences such as Philippines Franchise Association and Go Negosyo as a speaker and mentor. He conducts seminars and coaching sessions for aspiring businessmen and entrepreneurs all over Philippines.