At a business seminar I attended not so long ago, one of the panelists said quite a lot of sense that made it worth my while. The theme for the day was "Invest in yourself first."
The panelist asked us how many of us are employees, how many are self-employed, how many are studying and how many are unemployed? We raised our hands per our categories and he then asked further that; "if you were to choose to invest in one of any of those people in the categories for going into business with, whom would it be?"
We all raised our hands per the category of our choice. He after said, going into business with some of those in other categories was a high risk and others a lower risk, and this is how.
- Going into business with an employed person is a potential regret. A worker isn't wired same as a business running person in that they want quick returns and won't put in much into the balance of the business. Again some matters will take long to resolve and opportunities missed because of their unavailability at crucial moments. Their level of commitment a killer to any business unless you've got assurance the salary will form part of the financial aspects of your business or that the person will be fully in after a certain period, but what if their hoped for eventuality gets negated? Their types good as investors.
- Going into business with a student another risk case almost similar to the employee's one but that depends on the time put in studies. If a full-time student, worse, and if part-time student, better. Besides commitment here, the other issue is their future options. Is the person going to school with the intent of entering the market as a labourer or as a job creator? What are they studying towards being? Again, what means are having to put them to test on their mental readiness for hardship realities of business that won't see them opting out thereafter?
- Going into business with an employer a lesser and safer risk that but sees you left with a headache of skills compatibility needed to complement yours, the types of business or businesses they're in and the commitment willing to put into your new business. Also, which type of employer is the person? Will their coming in be a form of the new business being an extension to their other concerns to allow it to tap into their market or a clean slate enterprise?
- Going into business with an unemployed person the safest if there be full commitment, eagerness to learn and grow, resourcefulness in their being industry ready, and being focused.
What he highlighted was that anyone we opted for was bankable, just that if the modeling be right for your arrangement. Furthermore that, everyone of us in there are their own first asset and investment. If you're investment friendly, it should be from you first having invested in self. Doing so will get us ready for external investment.
In conclusion: how you respond to the requirements of the field you want to venture into, needs of you to be equipped with knowledge, ways into the industry and field specific skills. One other aspect I picked from him was that we all need to learn emotional intelligence if we're to navigate the personalities we encounter daily so we emerge favourable. Truth is, after a long ponder into what he said, I too figured that truly we need a bit of that to be investor friendly and at the same time be accommodative of others as I am by others. Being ready for external investment is a huge task that needs a shift in mindset to get to the ultimate material that an investor not in general wants, but that one which you tailor yourself to attract with...
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