I decided that I wanted to become an entrepreneur after I had read stories of men and women who used their parents’ garages and their dorm rooms as their company headquarters. I had read stories of men and women who made extreme sacrifices, including forsaking the stability that a job can provide and I absolutely loved it.
I loved and still love the idea of a culture that rests on the pillars of freedom, 0 rules and rolling out of bed whenever one desires. I love the idea of a culture that takes away the limitations of finances and cubicles. But I’ve also extended the lens from which I look at things.
While at some point one may be able to forget the constraints of a job and roll out of bed whenever one desires, I’ve recognized that Caribbean entrepreneurs face different constraints and are exposed to significantly less opportunities as compared to entrepreneurs from the more developed world. In addition to limited human resource (pushing labor costs higher) and exorbitant prices for the cost of raw material (due to import costs) we also suffer from late adoption syndrome. Caribbean entrepreneurship is a fairly new thing.
Considering the circumstances and the unique constraints which accompany entrepreneurship in the Caribbean, starting off requires different approaches from the approaches used by entrepreneurs in the more developed world. One of the approaches is to keep a job when starting off until
Here are three reasons why you may still need a job even after you’ve become an entrepreneur:
You Need Discipline
It is true that if you are a fervent ambassador of Caribbean culture that you are quite laid back. Our people love a good fete or a good lime and this is not forgetting that rainy days, birthdays, anniversaries and the day after a fete are all great opportunities to take the day off. This is not to say that everyone is THIS laid back. But just in case you are and you can’t seem to cultivate the discipline necessary to be successful at your entrepreneurial gig, getting a job may help you.
A job will likely require accountability, the meeting of deadlines, and time management. All of these are wonderful skills that will help you build discipline in your life and for your business.
You Have Debt
You may have debt for various reasons. You may have student loans, you may have had to take out personal loans to help your family or you may have taken a loan to expand or get your business off the ground. Whatever the cause of your debt, a job is a great way to pay it off or to prevent yourself from getting into further debt while you build your business.
You Need Funding
It is often difficult to find funding for a company or startup outside of family, friends and self-funding. There is the option of taking a loan. However, many want to forgo the accumulation of debt. Especially if your primary option is self funding, getting a job can help to provide the funds that you seek. This route requires great budgeting and intense saving but it is a great path to travel all the same.