The entrepreneur

The modern business environment is increasingly becoming more challenging and unpredictable. Globally the economic realities in many countries are becoming harsh both on the employees and employers alike, especially among small and medium scale enterprises. To become a successful entrepreneur could be very challenging, but the long term benefits are worthy of note. Whilst the slave masters provided food and shelter for the slaves, the present harsh economic realities have invariably turned industrial employees into slaves, primarily working for wages to provide food and shelter. Times are fast changing and individual stands the choice to adjust to changing circumstances or get permanently shut out from the main stream.
The agrarian age offered a communal setting that created an economic environment dominated by subsistence farming. Thereafter came the industrial age. This was a paradigm shift that resulted in countries making frantic effort to develop their local industries. This created the need to engage people in production of goods and services. Gradually, the growing labor market necessitated the need of trade unions to protect the interest of the workers. On their part, the employers of labour had the primary objective of maximizing profit and would offer a paltry amount in form of wages just to sustain the workers. Even as labour agitated, one fact that remains obvious is the worker income is limited by the number of available working hours a worker puts in, the more he loses his freedom and the more he will maintain his health. His problems are reoccurring and this is like a rat race. But everything changed with the emergence of the information technology and communication age. The prevailing circumstances no longer support the workers-wage mentality. Any person with an entrepreneurial skill can make a financial breakthrough with relative ease. A person can become a millionaire just by mere passing across s vital information.
Personal income is no more limited to worker wages. The days when people graduate from higher institutions with the white collar job mentality are gone. Unfortunately the present formal education system still produces graduates that roam the streets looking for white collar jobs. The dictates of ITC age are quite different from the industrial age. Young graduates now need a paradigm shift from employee too business owners mentality. The circumstances have changed, and to survive the modern business environment, the entrepreneur requires a totally different mindset; he will need to scan his operating environment on a regular basis.
It doesn’t take a genius to be rich. Nor are special talents needed. You don’t need to be lucky. And you certainly don’t need to be privileged, you do, however , need to make getting rich a priority in your life, you must be willing to focus most of you time, resources and energy on doing what it takes to build real wealth. In order for one to be really wealthy, one needs to change from a spender to a wealth builder. To get more out of something, you have to put more into it.
The habitual spenders believe that buying things are especially status symbols, makes him look richer. He drives expensive cars, wears Zegna suits, sports a Rolex watch etc. As his income grows, he buys more and more expensive things simply because that is the only way he communicated his wellbeing to the outside world. He chooses to spend his time in pleasure seeking. He spends his money on liabilities (assets that take more money from his pocket).
The Entrepreneur (wealth builder) doesn’t fall into the trap. He chooses to spend his money on assets (that brings money into his pocket) and not liabilities. He understands that to improve his financial position, he needs to increase his net worth. To that ends he avoids spending his money on depreciating assets(anything with values that diminishes with time) because he knows that any of such purchase will make him poorer; poorer in now and much poorer in the long run. The wealth builder takes pleasure from growing richer. This he does by investing his resources on appreciating assets.