BUSINESS FOR PROSPERITY

WHY GO INTO BUSINESS?

I meet with some of my friends at a friend’s birthday party, sooner than we realize where we were, discussion began, what about? As usual, issue of redundancy, lack of job came up.

A friend among us complained bitterly that, there are no jobs around for people to do, and when I cut in and said there are jobs woo! All of them shouted at me w h e r e! Is it because you are working? I said no, my work is to identify what you can do for a job, so therefore, I am advising you to go into business, they asked, what is business?

The moment that question was asked, I decided to check for the definition of a business from Oxford Advanced Learner’s Dictionary, which says, “business is the activity of making, buying, selling or supplying of goods or services for money” and according to professors William Pride, Robert Hughes and Jack Kapoor, “business is the organized efforts of individuals to produce and sell, for profit, the goods and services that satisfy society’s needs. 

A business, then, is an organization which seeks to make a profit through individuals working toward common goals. The goals of a business will vary based on the type of business and the business strategy being used. Regardless of the preferred strategy, business must provide a service, product, or good that meets a need the purchaser or end user’s needs in some way.

Based on the above definitions, we all know the art of making money is by hard work and hard work is more than just a job, it’s a job that brings satisfaction to the doer with huge reward too.

Now let’s look at the characteristics of business:

o   Business should be result of individuals working together in an organized way, (team work) for the success of a business.

o   Business should satisfy a societal need

o   Businesses must seek to make a profit; every business is being operated for the sole aim of profit making.

Now my friends should know that, it is advisable for them to go into business for the following reasons:

1. There is a major rise in unemployment, and there are already many unemployed people beginning to get desperate about earning money. Jobs are not there but if we are meaningfully engaged with one form of business or another, we would be able to become financially independent.

2. When you own a business, it’s like you have a whole new extended family knowing that you are creating jobs for people is a wonderful feeling.

3. Building a successful business provides a great pleasure and sense of accomplishment.

4.  Initially you will work for longer hours, but as soon as your business starts to grow, there will be need to employ a helping hand to assists you with carrying out some duties. That’s what we call division of labour, by assigning some of your duties to someone and pay the wages; you now become an employer of labour. Your work now become easy and you begin to have full control of your own schedule.

5.  You are now secure and gone will be the days of joblessness or in the case of those who work for others, thinking of being fired, downsized, or lay off. As an entrepreneur, you are your own boss, and you never have to worry about being let go.

Finally, I advise you to think of business, visualized it and implement your plans; you will forever thank me and say you have made it.

By Grace Omale

Business Women Networking Ltd