He's making himself happy for working under a company

dandydrey:
Valid only to those who can't take risks..

true talk. And the richest people in the world are dare devil risk takers in business.

aprokomania:
More often than not, the internet is flooded with information on reasons why every one should be entrepreneurs. While I do not doubt that it is necessary that more people embrace self employment, it is also necessary for people to have an open mind towards employment and look at the pros and cons of both before delving to start the next Microsoft. The following are reasons why there should be more people in employment than there are now.

1 LESS RISK
Granted, it is a a fact that there are risks to being in paid employment, however, you are more likely to retain your job than a business start-up is to thrive in the market.. Statistically speaking, 90 percent of start ups are bound to close in the first five years of existence. In fact, by its very definition, an entrepreneur is one who is willing to take risks.
TIP, think of this-its almost always news when a company lays off a number of workers but it gets no mention when the same number of business start-ups or SMEs close down.

2 DEFINED WORK HOURS
It is an obvious advantage for many employees that their work hour is defined. Usually, right from your employment you are told when you will be needed to work, and often times, you get paid for any extra time spent. For an entrepreneur however, work hours are usually not defined as they have to work around the clock to ensure that the business goes smoothly.

3 DEFINED CAREER PATH
Also, being in paid employment in most cases offers you an opportunity to rise to the top of the ladder. It is expected that if you spend a certain amount of time, or put in extra effort on a job, you ought to get promoted as often as possible till you get to the pinnacle of your career. For a business owner, the career path is not defined, as your rise to the top is solely dependent on how well your business does. If it crashes, you burn with it.

4 DEFINED PAY
Related to the above point is the fact that with your rise to the top of the corporate ladder, your pay is defined as you go along. In most corporate environments, there is a fixed salary scale which serves as a guide for payment. This is an advantage because it can help the employee plan and make adequate budget for the month under review. An entrepreneur in most cases does not have this advantage because his take home pay is dependent on the amount of effort put in to the business. Fluctuations in monthly income is usually the case.

5 SOMEONE HAS TO DO IT
This point is pretty much self explanatory. Imagine if everyone of us owned a business, who then would be the workers to carry out the running of said business? That being said, who then should be an entrepreneur and who should be a worker? We examine that in the next point.

6 NOT EVERYONE CAN START A BUSINESS
An entrepreneur is someone who has developed the strength of character and resolve of will to be a leader and a go getter in the business world. Not every one possesses the innate ability to own a business. Several people have tried to set up shop and failed at it, perhaps that explains why there are so many businesses that end up comatose.

7 SPECIAL EMPLOYEE BENEFITS
Most companies have special packages to see to their employees welfare. Such packages include leaves, paid vacations, as well as healthcare and child support. While it is not a hard and fast rule for all companies, there are many of such advantages in paid employment. For most start ups actually, such fringe benefits are not applicable. It is not only the case with start ups however, but even established business owners usually do not bother to claim such special benefits for themselves as most have to see to the running of their business enterprises daily.

8 NARROWER RANGE OF SKILLS NEEDED
As an employee, you are usually employed to fill a particular need. For example, you may be employed in accounts, IT, or admin. Hence, your specialization is only needed in your field. For a business owner however, and especially with start ups, they have to be proficient in a whole range of skills and abilities as they usually are solely responsible for running and ensuring the success of their business.

9 OPPORTUNITY TO DIVERSIFY
As an employee in an organization, you can decide to pursue other job opportunities if you are not satisfied with your lot in a company. You can even decide to augment your income with other sources such as a business by the side of your main employment. An entrepreneur however must better his lot within the confines of his occupation.

10 OPPORTUNITY FOR LEARNING
Last but not the least is that you have the opportunity to learn more about how organizations are run, as well as other aspects of the job that will come in handy if you do decide to start your own business later.
So there you have it. While we do not mean to discourage people from starting up their businesses, it is ideal that you properly weigh the advantages and disadvantages before you delve into it. What do you think? You can have your say in www.hoomadeit.com/2016/01/ten-reasons-why-you-should-be-employee.html?m=1 comment section below.

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Just like anything in life, for every Zuckerberg there are thousands of failed Zuckerbergs. People only identify with success.

Being an employee is awesome if you are in the right organization. CBN governor, GM NNPC, Bank Managers, Investment banks manager's, etc. are employees. In the IT and Financial industries, some of the employees are multi-millionaires. Messi, Mikel, Drogba, etc are employees.

Entrepreneurship has been abused in Nigeria. The guy selling pure water in Lagos traffic is an entrepreneur hoping to be Dangote tomorrow until he dies a wretched rat.

It is good to have big dreams. But in Nigeria context, how many Dangotes exist? Just one. Entrepreneurship is like buying lottery ticket, there will be winner(s) and thousand if not millions of losers.

Bitter truth,they are coming for you

InvertedHammer:

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Just like anything in life, for every Zuckerberg there are thousands of failed Zuckerbergs. People only identify with success.

Being an employee is awesome if you are in the right organization. CBN governor, GM NNPC, Bank Managers, Investment banks manager's, etc. are employees. In the IT and Financial industries, some of the employees are multi-millionaires. Messi, Mikel, Drogba, etc are employees.

Entrepreneurship has been abused in Nigeria. The guy selling pure water in Lagos traffic is an entrepreneur hoping to be Dangote tomorrow until he dies a wretched rat.

It is good to have big dreams. But in Nigeria context, how many Dangotes exist? Just one. Entrepreneurship is like buying lottery ticket, there will be winner(s) and thousand if not millions of losers.

Some nice points, however, no matter how you embellish it, I still will disagree with you. All the benefits you mentioned that can acrue to an employee are actually determined by their employers including your work hours, promotions, salaries... Just name it. Employers are entrepreneurs... Pray that nothing happens to the company where you work, otherwise you will be shown the way out even before the company becomes insolvent. Bottom line...... Be an employee, make some money, start up something while still working for somebody, grow your business... Then become your own boss, now you can determine how much you pay others and even when they go on vacations... Lolz

hmmmm... true

I started my business at age 23,first 2 years was shitty,No profits,my so called partner bailed out after 2 years he was certain we were going to fail and I actually thought I was going to fail but had to gut to rebrand and "LUCKY" to meet someone that helped me financially...I'm very sure if I didn't get that help I was gonna burn out and Lord knows what the aftermath would have been

Entrepeneurship is not for everybody,for one that made it a hundred have already failed....there's nothing wrong in being an employee...Man,know thyself

malachytochukwu:
Some nice points, however, no matter how you embellish it, I still will disagree with you. All the benefits you mentioned that can acrue to an employee are actually determined by their employers including your work hours, promotions, salaries... Just name it. Employers are entrepreneurs... Pray that nothing happens to the company where you work, otherwise you will be shown the way out even before the company becomes insolvent. Bottom line...... Be an employee, make some money, start up something while still working for somebody, grow your business... Then become your own boss, now you can determine how much you pay others and even when they go on vacations... Lolz

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You sound as if every entrepreneurship is a success.

If anything happens to the company where you work, guess what? That company is someone's stab at entrepreneurship.

So you have agreed that entrepreneurship is open for failure.

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singles4connect:
Sorry OP, If Dangote, Bill Gates, Michael Adenuga or Femi Otedola thinks the way you are thinking, where would the jobs be? We just needs to leave the comfort of our paying jobs and take the risk by being an employer so that more people can be employed through us and wealth also created.

No nation grows with this kind of mentality. Sorry if am too harsh

yeah! But what if everybody becomes an employer who will they employ?

nonsensical bull crap. more like 10 reasons why you should be a slave and at the mercy of somebody. well done oga...smh

Spydamannn:
I started my business at age 23,first 2 years was shitty,No profits,my so called partner bailed out after 2 years he was certain we were going to fail and I actually thought I was going to fail but had to gut to rebrand and "LUCKY" to meet someone that helped me financially...I'm very sure if I didn't get that help I was gonna burn out and Lord knows what the aftermath would have been

Entrepeneurship is not for everybody,for one that made it a hundred have already failed....there's nothing wrong in being an employee...Man,know thyself

If you don't mind, can you tell us about your business,what you do. I will like to learn from you.

FILEBE:


If you don't mind, can you tell us about your business,what you do. I will like to learn from you.

Boutique/dry Cleaning

singles4connect:
Sorry OP, If Dangote, Bill Gates, Michael Adenuga or Femi Otedola thinks the way you are thinking, where would the jobs be? We just needs to leave the comfort of our paying jobs and take the risk by being an employer so that more people can be employed through us and wealth also created.

No nation grows with this kind of mentality. Sorry if am too harsh

You just contradicted yourself.. if everyone where to think the way you think, then everyone would want to be an entrepreneur, who then would the entrepreneurs employ?

Spydamannn:
Boutique/dry Cleaning

how did you scale through those two years? What were you doing wrong/right? The money you got from your helper was used to do what?

Sorry for the 21 questions o. I just want to learn from the experienced.

In fact to be an employee is riskier because the employer can wake up one morning and sack you. E don finish be that. So poster, think twice.

This is the most ridiculous post I've seen on FP. I can't believe there are really shallow-minded folks like the writer. Gotta make sure my kids don't read this and remain mediocre like whoever thinks this way.

At least if there should be failure somewhere, the employees feel the first impact.. Don't you agree to that bro?

InvertedHammer:

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You sound as if every entrepreneurship is a success.

If anything happens to the company where you work, guess what? That company is someone's stab at entrepreneurship.

So you have agreed that entrepreneurship is open for failure.

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FILEBE:

how did you scale through those two years? What were you doing wrong/right? The money you got from your helper was used to do what?

Sorry for the 21 questions o. I just want to learn from the experienced.

youthful exuberance ruined the first two years coupled with bad management,inexperience,little success got into the head and started messing up

How we scaled through? The first year was a disaster,felt it was going to be a shameful story only surviving for a year,sold my car to fund for another year,2nd year ended in terrible losses,I got so sick and depressed,partner bailed out until I got divine help...by the time I got the help I had learnt lessons that would help me sail smoothly
I hope I'm making sense

3 DEFINED CAREER PATH
Also, being in paid employment in most cases offers you an opportunity to rise to the top of the ladder. It is expected that if you spend a certain amount of time, or put in extra effort on a job, you ought to get promoted as often as possible till you get to the pinnacle of your career.

In as much as entrepreneurship is good and applauded., the above is one valid point dat stands out in OP's assertion. Dat one can never b rich in a paid employment is a fat and white lie. The above point can be evidently substantiated by d numerous number of successful career driven employees and technocrats in Nigeria and the would over.

Would u tell me dat Alex Otti (the immediate past MD of Diamond Bank) is not successful? Dat evn some MDs in Dangote plc and other top notch organizations ar not accomplished in their chosen career?

My point is dat one can be successful and accomplished in a paid employment even with the acclaimed Nigerian and economic syndrome. People rarely enumerate d negative aspects of entrepreneurship as if its a win win venture.

Also, is it all about money? Some people are recognized today the world over for their impact, dedication and contributions in their chosen career. You are saying all our professors should quit their job and delve into entrepreneurship?


All dat glitter are not gold people. !

Spydamannn:
youthful exuberance ruined the first two years coupled with bad management,inexperience,little success got into the head and started messing up

How we scaled through? The first year was a disaster,felt it was going to be a shameful story only surviving for a year,sold my car to fund for another year,2nd year ended in terrible losses,I got so sick and depressed,partner bailed out until I got divine help...by the time I got the help I had learnt lessons that would help me sail smoothly
I hope I'm making sense

yes you are making sense but you didn't tell me exactly what you did and didn't do. I was expecting something like: we bought machineries, we didn't have enough machines to work etc. I would love to hear what exactly u did wrong and right as related to your business.

i think i should create a counter thread " 10 reasons why u should be an entrepreneur.

1.. you wake up in ur pajamas by whenever
2.. you actually do watever you want to do.. you decide what and how you want to do whatever u want to do
3.. you don't settle .. as you keep making deals, taking risk n betting on your biz acumen
4..you don't have to wear the modern slavery cloak they call"corporate shirt n tie"
5.. you are the owner of your time so decide how you wanna use it
6.. you make a ton of money
7.. you decide how much money u want to make n work towards it
8...you get paid more times in a year than an employee
9...you have more experiences and exposure than a 5am-8pm employee triangular lifestyle

Tell that to Oprah, Zuckerberg . . .

singles4connect:
Sorry OP, If Dangote, Bill Gates, Michael Adenuga or Femi Otedola thinks the way you are thinking, where would the jobs be? We just needs to leave the comfort of our paying jobs and take the risk by being an employer so that more people can be employed through us and wealth also created.

No nation grows with this kind of mentality. Sorry if am too harsh

While I do not necessarily totally disagree with your opinion, I must say that it lacks total merit due to the fact that it isn't everyone that is cut out to be ENTREPRENEURS!!

That was why the alternative-INTRAPRENEURSHIP was coined!! (I guess!!!!)

There are a lot of Intrapreneurs that are renowned and fairly comfortable with utilizing their skills-set in organizations!!!!

malachytochukwu:
At least if there should be failure somewhere, the employees feel the first impact.. Don't you agree to that bro?

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Not necessarily. Employees may feel the first impact, but they will not feel the worst impact.
Before the entrepreneur packs up, he/she must have gone through psychological and financial trauma
that might not be easily visible to untrained eyes. Remember that businesses rarely fail overnight. Usually before
it gets to that point, the employees could feel it coming. Failure hurts one and all. The ones that get fired lose
their source of income while an entrepreneur with failed business adventure loses source of income, capital, self-worth;
undergoes emotional trauma and might even have bank loans to pay back--that in itself is one heck of another stress.

My point is that building wealth is not easy else everybody will be a millionaire. We have millionaire employees and millionaire
entrepreneurs just as we have employees that are barely hanging on and entrepreneurs who can barely make payrolls.


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BS.

Jisos! I can't believe someone took all the disadvantages of being an employee, cloaked it and turned it around to present being an employee look attractive.

People who cannot take risks can never grow.

Sorry, you didn't make any valid point.

InvertedHammer:

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Just like anything in life, for every Zuckerberg there are thousands of failed Zuckerbergs. People only identify with success.

Being an employee is awesome if you are in the right organization. CBN governor, GM NNPC, Bank Managers, Investment banks manager's, etc. are employees. In the IT and Financial industries, some of the employees are multi-millionaires. Messi, Mikel, Drogba, etc are employees.

Entrepreneurship has been abused in Nigeria. The guy selling pure water in Lagos traffic is an entrepreneur hoping to be Dangote tomorrow until he dies a wretched rat.

It is good to have big dreams. But in Nigeria context, how many Dangotes exist? Just one. Entrepreneurship is like buying lottery ticket, there will be winner(s) and thousand if not millions of losers.

InvertedHammer:

/
Not necessarily. Employees may feel the first impact, but they will not feel the worst impact.
Before the entrepreneur packs up, he/she must have gone through psychological and financial trauma
that might not be easily visible to untrained eyes. Remember that businesses rarely fail overnight. Usually before
it gets to that point, the employees could feel it coming. Failure hurts one and all. The ones that get fired lose
their source of income while an entrepreneur with failed business adventure loses source of income, capital, self-worth;
undergoes emotional trauma and might even have bank loans to pay back--that in itself is one heck of another stress.

My point is that building wealth is not easy else everybody will be a millionaire. We have millionaire employees and millionaire
entrepreneurs just as we have employees that are barely hanging on and entrepreneurs who can barely make payrolls.


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most rich and wealthy men in the globe and in Nigeria today are entrepreneurs. Check the fist ten richest men in Nigeria and see if you have a salary earner there, I don't think so...

Some market women and road sellers or even small shop owners today earn more than a banker.

Nothing like having a business of your own. It gives you maximum time of your own to think, plans and move ahead. Only small mind will begin to consider failure when planing to set up a business. Even if you fail, you can brace up again.

The owner of 7up failed 7times before the business could stand solid today and became a multinational bottling company.

Lastanza:
3 DEFINED CAREER PATH
Also, being in paid employment in most cases offers you an opportunity to rise to the top of the ladder. It is expected that if you spend a certain amount of time, or put in extra effort on a job, you ought to get promoted as often as possible till you get to the pinnacle of your career.

In as much as entrepreneurship is good and applauded., the above is one valid point dat stands out in OP's assertion. Dat one can never b rich in a paid employment is a fat and white lie. The above point can be evidently substantiated by d numerous number of successful career driven employees and technocrats in Nigeria and the would over.

Would u tell me dat Alex Otti (the immediate past MD of Diamond Bank) is not successful? Dat evn some MDs in Dangote plc and other top notch organizations ar not accomplished in their chosen career?

My point is dat one can be successful and accomplished in a paid employment even with the acclaimed Nigerian and economic syndrome. People rarely enumerate d negative aspects of entrepreneurship as if its a win win venture.

Also, is it all about money? Some people are recognized today the world over for their impact, dedication and contributions in their chosen career. You are saying all our professors should quit their job and delve into entrepreneurship?


All dat glitter are not gold people. !

That so called Alex Otti is a poor man when some business men or entrepreneur are talking.

butanep:
most rich and wealthy men in the globe and in Nigeria today are entrepreneurs. Check the fist ten richest men in Nigeria and see if you have a salary earner there, I don't think so...

Some market women and road sellers or even small shop owners today earn more than a banker.

Nothing like having a business of your own. It gives you maximum time of your own to think, plans and move ahead. Only small mind will begin to consider failure when planing to set up a business. Even if you fail, you can brace up again.

The owner of 7up failed 7times before the business could stand solid today and became a multinational bottling company.

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How many 7up companies are there? Thank you. You said that if you fail, you can brace up again. You forget that capital is a limiting factor. You sound as if there are millions of naira sitting in the banks waiting for one to tap into on failure. It is an unrealistic expectation.

Think of a world where everyone is a successful entrepreneur. Some people have it and others don't.
You don't have to be an entrepreneur to live a good life.

I remember a few years back when banks in Nigeria published the names of businesses that are in default. It was a little bit of an eye opener for some people to know that the otherwise successful businesses are living on bad loans. If not for Nigerian factor, such companies would have filed for chapter 11 since.

Everyone is not cut out to be an entrepreneur. The ones that have it in them are not here arguing pros and cons of entrepreneurship. They are out there making deals. Running a successful business in Nigeria is very difficult. Thus, a lot of the successful ones are tied to the apron of politics. At the end of each era of government, it takes with it a litany of failed enterprises.
Some people don't understand the rigours of business until they start. If you can do it, go for it. If you are gainfully employed in a standard organization, try to work yourself up. There is a certain threshold that once crossed, chances of being poor again in life is very slim. You don't have to be a billionaire to be comfortable in life.



That's all.

There's something many first time entrepreneurs get wrong at the first try, and that is working with a mental stop loss (FX trading taught me this). This helped when my first business failed as I walked away still doing much better than most of my employed peers were/are. Everywhere there are stories of failed entrepreneurs but what some fail to realize is that some of those failed entrepreneurs already have assets which would take contemporaries in paid employment 2 decades to acquire.
I remember applying for my first and only job last year and immediately I got called for an interview and started talking, I aced it, got shortlisted but may not be taking up the offer as I prepare to venture out again. Do you know how many loans it takes for the average employee to buy a car? How many more to buy a piece of land? ...and how long it takes to pay them back? Yes there are successful employees and most often than not, those are the ones with the entrepreneurial spirit and at first glance they do not look like the type of employees this OP is referring to. Entrepreneurship isn't necessarily about Mark Zuckarberg or the failed Laundry business in your neihgbourhood. There are millions of those who are doing well in-between.
There is absolutely nothing wrong with being an employee (in fact, it is quite honorable) but please, enough of the NL topics discouraging entrepreneurs/businessmen, most of y'all are currently paying rent to one.
If you do not have the mental and money capital to start up a venture, by all means go into paid employment. However, if you are like me and willing to take a risk and make profit/mitigated loss(moving your business stop loss to break even as you grow, jump in).
The first question any young person must ask themselves in this country is, "Have I woken up to the Nigerian situation?"

Brief and sensible post aplenty on NL today.
Well thought and written OP.

caesaraba:
There's something many first time entrepreneurs get wrong at the first try, and that is working with a mental stop loss (FX trading taught me this). This helped when my first business failed as I walked away still doing much better than most of my employed peers were/are. Everywhere there are stories of failed entrepreneurs but what some fail to realize is that some of those failed entrepreneurs already have assets which would take contemporaries in paid employment 2 decades to acquire.
I remember applying for my first and only job last year and immediately I got called for an interview and started talking, I aced it, got shortlisted but may not be taking up the offer as I prepare to venture out again. Do you know how many loans it takes for the average employee to buy a car? How many more to buy a piece of land? ...and how long it takes to pay them back? Yes there are successful employees and most often than not, those are the ones with the entrepreneurial spirit and at first glance they do not look like the type of employees this OP is referring to. Entrepreneurship isn't necessarily about Mark Zuckarberg or the failed Laundry business in your neihgbourhood. There are millions of those who are doing well in-between.
There is absolutely nothing wrong with being an employee (in fact, it is quite honorable) but please, enough of the NL topics discouraging entrepreneurs/businessmen, most of y'all are currently paying rent to one.
If you do not have the mental and money capital to start up a venture, by all means go into paid employment. However, if you are like me and willing to take a risk and make profit/mitigated loss(moving your business stop loss to break even as you grow, jump in).
The first question any young person must ask themselves in this country is, "Have I woken up to the Nigerian situation?"

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You are only operating on your level.

Kweku Adoboli for example was earning $700k/yr equivalent in a year as an employee. There are many people in their early 20S earning more. And they are considered middle class. Let me see you beat that record with your successful entrepreneurship.

Some employees earn more than the phantom entrepreneurs of their peers. It is a fact.

I have a friend who retired and moved to Abuja. He gets about $8,000/month from his 401k, social security and Roth IRA. That is about N2.4m every month for the rest of his life for not doing anything. He has houses and cars from his paid employment. He is currently a salesperson for a SA solar company to keep body and soul together. At 70, what else can one pray for. His medical needs are covered. That's a good deal. And he wasn't an entrepreneur.
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