The Intentional Entrepreneurs
They are always on the lookout for opportunities and not risk-averse. For some, it has never crossed their mind to work for others. Many are from Generation Y (below 30 years). They are blessed with FAMA (father and mother) interest-free, no-need to pay back ‘loan’ and encouragement. With no baggage, they are free to define the world of business. Once they have tasted entrepreneurship, they will never be able to work for others. Who cares? They have a long runway to learn from their mistakes and succeed.
The Eureka Entrepreneur
After working for others, they hit a ‘eureka’ moment when they realised, “Why work for others, while I can work for myself.” These 30 something folks are mobile, have a low financial commitment, confident and highly skilled. More importantly, they are not too deep in their salaried job to make entrepreneurship an uncomfortable and challenging option. The runway is still long and the working spouse can hold the fort when it comes to the big-ticket items.
The No-Choice Entrepreneur
The pay has plateaued. Fed-up by being classified as a deadwood by the superiors. Has sat on the ‘cold seat’ at least once and wanted to or has dabbled in union activities. These are usually in their 40’s. These are in a high-risk group. They have a high financial commitment, too salarised to transit into the business of self-employment. To make the breakthrough, they need 2 – 3 years of hard work, study and mentoring plus stratospheric-level motivation before the great leap.
The Pensioner Entrepreneur
They have not rocked the boat in their entire working life. Their salaried job is everything. Everything is stable and quiet. Probably flush with cash and EPF money. The crux of the matter is how to turn the technician, supervisor or manager into an entrepreneur? A complete mindset make-over is imperative or they will flush their cash into the toilet.
P/S: The author’s family sold their house to plunge into an education development business in 2004. It was divested in 2013.
