If you are a salary earner and wish to own a business, now is the time. It is never too late to start a business. Entrepreneur Ervin Ahbabovic confirms that it adds to your financial security. He’s right to say so because he has been an entrepreneur for more than two decades. He has created a world of opportunities for entrepreneurs and business owners that were absent before.
Ervin Ahbabovic served as a military man after completing high school in 1990. Upon completion of his service in 1992, he went back home to serve his community. 3 years later, he traveled out of his country and stayed there. Ervin Ahbabovic settled down later in Malaysia and became an entrepreneur. He has worked in the educational and hospitality fields. Ervin further started a business in the hospitality sector. His hard work and dedication paid off and helped him make a success of his business. His business made him travel across the Asian continent. In addition to owning a business, he has an MBA in the hospitality field. He gives back to his community and contributes to charities and non-governmental organizations. He currently lives in Indonesia, where he oversees his many businesses.
From the above narrative, it’s clear that Ervin Ahbabovic is capable of advising entrepreneurs. This is because he has accumulated years of entrepreneurship experience.
Why you should own a business
The world right now is different from the world a decade ago. Advancements in technology and innovations have made a lot of changes. Business strategies and operations have evolved. So take advantage of numerous resources available to open a business.
Many people are scared of opening a new business due to the fear of losing money. They’re not sure if the business will succeed, and they don’t want to risk their time, money, and efforts. Some are scared of the unstable economy and the process it takes to own a business. However, the economy should not stop you from owning a business. Some big firms you see today started when the economy was down. Today, they’ve become household names and become successful.
What you need to know is that people mostly look for new ideas when the economy is bad. They want to find ways to ease the bad economy mad survive. So, people welcome anybody that brings new ideas that make things easy. Also, numerous investors are willing to invest in these ideas. They fund new businesses and startups. They also provide financial assistance to firms that lack funds. However, their end game is to make a profit. Hence, if you have business ideas that can provide solutions to problems and make profits, seek them out.
Moreover, many investors in Asia have heavily invested in Asian businesses. Even during COVID-19, when inflation was high, investors were willing to invest their money. In fact, they became more interested in investing in startup ideas that were useful to people.
No matter how small your idea is, it can become something big in the future. Don’t hesitate to start a business now if you have the capital. But don’t forget, everything comes with a risk. You might likely face some challenges in the course of your journey. If you are determined, you will be successful.
Why Entrepreneurs Became Successful After COVID-19
During COVID-19, business owners had to quickly find ways to stay afloat. This is because there were lockdowns and nobody was allowed to move about. Businesses had to figure out a way to carry out business activities from home. Innovators came out with ideas that provided practical solutions to this problem. This was a period when the I.T sectors boomed. App developers, web developers, and technology experts were much needed. For example, schools developed apps for virtual study sessions. So, people with innovative ideas on virtual learning were able to get investors for their projects.
Furthermore, the need to create ideas to make work at home suitable became urgent. Old and new entrepreneurs developed new products to fill these needs. Due to this, their businesses boomed and became successful till now.
Some Basic Entrepreneurship Tips:
- Let your business ideas proffer solutions to societal problems. This can determine how successful your business will be. Or let your idea be relevant to the present economy.
- Have business plans.
- Find angel investors who are willing to invest in your venture.
- If you can’t find investors, you may consider opening a business with a partner. However, employ the services of a lawyer to draft a contract for you and your partner.
- Have business knowledge. You can take online management courses to better help you navigate the business world.
- Be ready to take risks and don’t rush to make profits. Otherwise, you might end up losing your money.
Conclusion
Ervin Ahbabovic notes that there is a constant shift in the field of entrepreneurship. What was popular a decade ago has become unpopular now. Similarly, what is popular now may become unpopular tomorrow. Many new business methods and operations have emerged for entrepreneurs. Therefore, if you wish to own a business, you need to be constantly updated on new business strategies. Otherwise, you’ll lose to your competitors. Not only that, you may lose your customers and your business may later fold up.
