Maybe it has crossed your mind to turn your hobby into a business , after all we would all like to work doing something we love.
But attractive as it turns out to be the idea to turn a pastime into a business is not so simple, let’s see the pros and cons.
Most of business in Kenya are considered small businesses , that is, companies with fewer than 100 employees.
Unfortunately the risk of failure is high, 20% of them do not survive the first year, 34% close in the second year and only 50% exceed 5 years.
Often the owners run the risk of “burn” because to start their business they keep a job in order to cover their personal expenses, this is difficult because a lot of energy is invested in the job and then in the business, causing an increase in stress and of physical wear that can even affect your health.
But if you decide to give up your job, especially if you do not like it, you run the risk of depending solely on the new business to pay for your expenses and sometimes the profits do not happen as soon as you wait.
But there are also satisfactions when starting your own business. You can discover the reward of discovering that your work helps your clients solve problems.
Also that you have taken complete control of your future. Becoming an entrepreneur can change your life if you find a deep purpose and meaning in what you do, plus the potential to make money with it of course.
