What's good for being an entrepreneur or being an employee


In this competitive market we need to have more expertise which will broaden our perspective in order for us to work as an entrepreneur rather than as a salaried individual but do you feel that being an entrepreneur is an easy job in context to the salaried individual?

Have you ever tried to come up with an idea of opening up with your business instead of doing job in some good company?

For sure many of us would have thought of this but only few among them would have got the success. Means only few have been able to create a brand that we know today. We could have numerous examples for us to provide us with the motivation & the inspirations in order for us to lead a remarkable life & at the same time to be an icon for others or for the society as a whole. In this context let's have one instance from one famous brand in the below para.

We have evident of Sagar Ratna chain of restaurants but only few would be aware of its past & the challenges which never remained the same & which once had a close competition with the Haldiram. Today, as the undisputed 'Dosa King of North India', this brand is best known to us.

The Jayaram Banan, chairman of Jayaram Banan Group, owns a chain of restaurants, star-category hotels, budget hotels as well as canteens at industrial establishments. During the starting of his days were quite in miseries wherein at the age of thirteen due to the reason that he failed in his exams, he stole some money from his father's wallet and ran away from home & landed his first job at the Hindustan Organic Chemicals (HOC) canteen in Panvel, Navi Mumbai canteen as a dish washer for Rs 18 a month. Due to his sincerity & hard work he was promoted to a Manager earning Rs 200 a month. Now he started imagining of his own restaurants & for this he came to Delhi as it was too competitive being in Mumbai. While being Delhi, along with the few contract of serving foods in the company's canteens, he also gave customers quality dosas at the rate of street chaat. He opened his first restaurant in Delhi's Defense Colony market with his savings of Rs 5,000. He named his 40-seater outlet 'Sagar' and served South Indian staples like idli, dosa and sambar. The restaurant made a sale of Rs 408 on his first day. However renting the space for Rs 3,250 a week meant he had to book losses, but By working tirelessly from seven in the morning till midnight every day, he managed to ensure that sales at Sagar picked up.

In 2000, Sagar Ratna's turnover was about Rs 12 crore, which doubled to Rs 25 crore in 2005. Presently the Sagar Ratna chain is valued at about Rs 200 crore.

From a runaway child of earning Rs. 18 per Month to setting up his own business is a long story which has been through various changes from time to time.

But is the above seemed so easy in the real or the practical life?

Now look at the scene from a different perspective.

I have been since long in a job doing different profiles. Now I do feel that its good time that I should start with our own business & so trying to figure out the whole picture with the possible investments & the challenges & I find myself got stuck here because somehow I am not confident of the returns.

While I am settled with the item that I would wish to business with the biggest challenge remains with the location which & although I have found one but quite costly. It's a small shop having rent of 50000/- per Month. Initially there would be renovation cost of Rs. 20000/-. Along with this there would be raw material cost & labor cost too. If I calculate the Monthly expenses then this comes to around one lakh. This means that I will have to generate the sale of more than two lakh on Monthly basis in order to meet the expenses & at the same time earning some net profit. But in the first Month the same is not possible & so could get end-up in the breakeven scenario.

If I tell you that the item is a tea then as the winter is nearby the sell can hit a high as expected & so we may get the desired result but what after that? During starting & peak of the summer the demand may get a huge downfall in sell & so I need to find out the alternatives when it is off season.

Considering the above scenarios we can go ahead with the well planned actions but things can even go wrong because of the interventions of anything unexpected which could be listed as below,
  1. The duration of the season couldn't get longer as expected
  2. Few competitors may surface impacting the share of the revenues & net profit.
  3. The plot owner may end the contract or reducing this to a shorter period.
  4. You may get ill
  5. Lack of funds.
  6. The partnership may get broken.
  7. Fluctuation in the raw material costing.


I have listed few of the points above but to be on practical side & what I am not admitting is that I am not feeling confident about myself or in another words I am more or less confused of my decision. Instead we can list the reasons on the below points,
  1. We continue to be on the comfort zone.
  2. Lacking in the clarity of thought or having with more doubts.
  3. Devoid of risk taking capabilities.
  4. More fear of the negative outcomes.


There would be many other pros & cons but this whole depends upon the perceptions too. Let's now look at the below one incidence,

"Yesterday I saw a vendor got shifted to the new location. This new location is spacious so as to carry with more commodities. In addition this is also comfortable for the customers to be in line & buy the items."

Does the reader agree inhere if I say that the same vendor had been running with a small shop with less space but is the fact & before coming down to this position he was very much consistent with his hard work.

Do we carry with this much dedication because most of us only take a note of the achievements? In the above example too we have taken a note of the vendor got shifted to the new location but have we gone through with his struggling days.

Conclusion

The most important aspect of our education is that since our childhood days to the time that we got into our first job it would be surprised to know that no school or institutions teaches us for being "ENTREPRENEUR", rather we are always taught of being someone having education & degrees in our hands so that one day they we will get some good opportunities in some good companies.

An entrepreneur is doing much on his behalf who looks after the complete activities although he is managing through with the engaged employees or through other ways of employment. On contrary the employee is engaged with a limited job responsibility with carrying a comfortably 8-9 hours job or go on changing job when required but is not is the case with a businessman. This is not enough but there are other advantages & disadvantages on both aspects.

For sure that running any business is not an easy task wherein we can be at the losses but earning huge remuneration is also a great experience.


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