Should you start your own business?
Just today, I’ve finished reading the book E-Myth by Michael E. Gerber. It’s a very good book in my opinion. Not only it talks about why small businesses fail, it also talks about what most human beings are lacking nowadays. I took me a while to finish this small book but it is indeed worth the time. I intend to read it for the second time if the condition of the book permits. 
In the first few chapters of the book, the author talks about something called Entrepeneurship Seizure. Why most people want to start their own businesses and why most businesses failed.
There’s this example which I’ve read it somewhere…..9 out of 10 new businesses died in the first 3 years. More than 5 of the remaining businesses will die after 2 years. By the time it is 10 years……there will only be less than 3-5% of the businesses remaining……and most of them are trying to survive.
A very very scary statistic but I find it to be quite true…..especially after reading this book.
Most people i know in Malaysia want to start their own business. I’m one of them as well. True, there are also people who want a simpler life, trouble-free, etc etc. But as time goes by….inflation goes up…..more and more graduates coming out……market doing worse…… and the companies we are working for no longer give us the “things” (be it money, benefits, passions, or anything) we want……. more and more and more of us will start to think of a way out. Not to say some bosses who like to “show face” or don’t appreciate us….. Sometimes, these things just force us to find another job elsewhere. But if you hop too much….and situation don’t change…… you will eventually come to a conclusion “Why do i need to work for this idiot? I know whatever he knows, and maybe better! What makes him think I cannot start another business and acquire this lousy company of his?”
But do you really think you should start your own business because of that? Or you want to start something because you want to earn enough money WITHOUT your presence and then retire early?
Think about it.
For me, starting my own business is definitely not about getting revenge on my bosses……nor is it about money. True, i might be able to earn more if i start my own business…..but it really really depends on what kind of business i am in. Starting a business also means i get to do the things i want……….AND a lot of things that i might not want. Whatever you are good at now is technical side of things. Are you sure you can handle both technical and business? Hire someone to do the job for you, you say? What if the person decides to leave you all of a sudden?
In my opinion, the best reason to actually start a business is to make this business a stepping stone for you and your dreams. I have dreams……..big dreams……….and dreams that i cannot achieve in my current job. In order to do that, I need to start my own business and push towards that direction. The business must be part of me, and vice versa…… and it must also help me reach the level of purpose that I am aiming for.
But that’s just me. I am sure most people don’t care about that………and most people don’t even care what they want to do except for “earn more money”.
So do feel free to share with me. 
Do you want to start your own business? If yes…why? And if no…why?
I’ve started my own business because I’m tired of the Malaysian work culture and its practices. My company; Simpleet Solutions, defines the future of website design and development like our Western counterparts. It’s just Malaysians thinking are still stuck in the last century.
@Danny Foo
All the best to your business 
Yea. about the Malaysians’ thinking stuck in the last century……i kinda agree with you. Maybe not CENTURY, but few decades
Alvin,
I have written a post tonight which I dedicated to you.
It is tilted : Thrilling tales of entrepreneurs.
http://www.seaykopitiam.com/2008/01/17/thrilling-tales-of-entrepreneurs/
Having a business involve multi-disciplinarians , it is not only your customers. It also involves your suppliers, government policies and many others.
My ex boss whose business spanned over 21 countries thought me about treating my supplies as my customers in order to have a win win situation. And from hind sight, I thought what a valuable insight he has given to me.
My only insight to you guys who live in a country where the people mentality is stuck in last century, it might not be such a good idea to move ahead of them. On the other hand, you should learn how to adapt in living in a nation that stuck in last century. Because if you have a company, you will still need to hire peopel whose mentality is of last century, suppliers whose mentality is stuck in last century, government policies that are stuck in last century
.
Oh well, good luck cos I don’t have this problem in Florida, USA
:).
Js.
@Jamy
yea. if u wanna b successful in your business…….u need to have a working + good relationship with the suppliers, customers and your own staff. u need to give the so-called “win win situation” to everyone that you come into contact.
thnx for the blog entry. i’ve read it
either staying wit the last century people or not, i believe it really depends on the things you wanna do.
but somehow i hv a feeling that i won’t stay wif them
i wanna advance…and move forward……not staying back.
Alvin,
i wanna advance…and move forward……not staying back”
I agree with you to a certain extend on this : “but somehow i hv a feeling that i won’t stay wif them
Ya, you can leave the job if you think they are behind.
How about if you start your business.Your suppliers, your workers, and your customer are people who live in last century ? You also need to learn how to handle people who are stuck in last century mentality unless you are like me who moved away from last century.
I believe no matter you are a worker or a business owner, flexibility and being able to adapt are the keys ingredients.
I adapt to Malaysian last century mindset when I visit Malaysia for holiday and I adapt to American mindset when I live here. It is a matter how you adjust and handle the situation.
I used to think everyone whom I worked in Malaysian were stupid, be it my IT coworkers, my boss and the government but as the years grow and I grew mature, I do not think that way anymore. You will get stupid people in America, in Russia, in China and everywhere. The most advance place has its stupid people, the most backward place also got brilliant people. To me, it is an art to have people relation skill and Science to master any IT skills. I knew that because I was one of the first Asian women to study machine language such as PDP11 and etc. I can solve the most difficult hardware, software problems but I have no clue of human psychology. Now sometimes I work with mental illness patient and I have to learn how they think and act and behave accordingly.
I do believe when we deal things or events in holistic manner , we all looking at situation in 4 dimension. Check out the recent blog about the $100 billion woman, Bill Gates wife.
@Jamy
the e-myth book that i’ve read is quite good and it talked about something which I’ve always believed in. i used to think that i am nice and i wan people to change. but it’s wrong. now, i dont expect people to change. i should be the one who should change because that’s the only thing i can control.
when working with ppl who are “stupid” or “lagging behind”, you will need to use a different mindset than when you are working with someone who is well ahead of you in the race.
different people, different way of handling n communicating……that’s why human psychology…….or should i say HUMAN BEINGS are the most complicated things to deal with. Not machine. not animals. not mother nature. but human.
if one wans to be successful…one really really needs to learn how to adapt. being flexible is one step towards the “successful” group. and being rigid is one way backward.
at least, that’s what i feel
nice blogging i would say
Agree on the ‘if you change the way you think, the world in front of you will change immediately’ instead of trying hard to change the world. But one thing is for sure; “To do the same thing while expecting the different is insanity”. Sad to say that, many are not willing to change but always expecting the difference!
@ ks
to do the same thing but expecting different result is indeed insanity..or maybe foolishness. maybe expect others to change. 
thanks