Published in El Pais, December 21st 2019.
From time to time I hear many think that the owner of the company where they work earns easy money and if they would have a good amount of money they would do the same and also become “easily millionaires.” Only in some cases some people really make it. Why?
Many forget that their bosses have started a business using the money they have collected for many years and with much effort. They also invest in something that may not have the result they expected and lose everything. Which of you would be willing to risk all your savings to start a business? Or who would take a mortgage risking losing their home if the business goes wrong?
First, one has to save money, and this by itself is already complicated for many people. Second, you have to be willing to expose your savings to a risk. In other words, accept that you can lose part or all of your investment, including the work that one has put in the beginning of the company when there is still no income. If you are one of these people who are thinking of taking a big risk to start a business, you have to think how much would you be available to lose? All your savings, your house, your job? Very likely it has to do with the confidence that you have that business.
Not all of us are entrepreneurs. For some it is enough to have a fixed job and receive the salary every month with fixed work schedules. No stress and no worries. Other people trust their strategy and probably think that the emotion to be able to achieve more worth than just a salary and this idea raises their level of well-being. They worry so that everything goes well but stress does not affect them and they continue with their project.
Mark Twain once said: “Taking a risk is enough to change your life.” And he is probably right. In the event that your business goes well, you will do better economically. And in the case that you lose your house,… mmm…, you will surely have learned a lot to do better next time. On the contrary, if you don’t like to take a risk, but you want to start your business, you may start by putting only part of your savings on a small scale. It will take longer, and it may not become a multinational, but if it is your own business you will build it according to your personality.