After working all week, I finally completed the merchant account aspect of my business. I am happy to say I can now accept credit cards! There were MANY problems I had to solve throughout the whole process. When I first started, I had no idea what I was doing. But now, I know alittle more and more. It took only alittle more than one month to set everything up -- from establishing a relationship with my supplier to getting a merchant account to completing my website. So far, I spent under $500. Now, I need to market my business and start acquiring customers. I will let you, my gentle readers, know how everything turns out later.
As I promised in my last entry, I will talk about having a
job vs creating jobs.
The educational institutions are training camps (abeit, somewhat rather inefficient) for children to become good employees. Schools were created as a place to stash children when their parents worked. (Child labor is illegal.) Do you remember what it takes to get good grades? Doing homework, understanding everything, and following the teachers' directions. This is exactly the same formula to be a good employee: doing work, understanding everything, and following the bosses' directions. Having a job is better than being a bum. But
having is job isn't as rewarding as it was in the past. In the beginning of the 20th century, a family could be supported with one working member -- usually the father. However, in today's age, two working parents can barely support a family. The good thing about being an employee is
wages are stable but fairly predicatable, even though the company may not be. But the bad thing about being an employee is your
keeping of the job is not stable. For example, US' IT department and outsourcing. Another aspect of jobs I personally dislike is the way to obtain it. It requires you to jump over hoops and hurdles set by OTHER people -- people who may or may not be smarter than you, people who may or may not be more ethical than you. And especially in a world with large corporations and large governments, the hoops and hurdles set by bureaucracies are endless. Do you like to go to the DMVs? I rest my case.
On the other hand, creating jobs -- creating your OWN job and creating jobs for OTHERS mean being an entrepreneur. Being a successful entrepreneur is pretty hard. It takes dedication, intelligence (or alot of help), and in most cases luck. The good thing about being an entrepreneur is
the job is stable. An entrepreneur is usually the last person to leave the business. However, the bad (and even good) thing about starting your own business and creating jobs is the wage is unstable. This means you can
lose money, earn nothing, or even make millions! To me, the risk of wage volatility is work the reward, which is why I am starting my own business.
However, why not take the best of both worlds. Get a job while creating new businesses. This is certainly a valid option for someone to be an entrepreneur without taking as much risks. I want to work part-time in a local bank a few blocks away while my business slowly grows. Let's see if I can jump though the hoops and hop over the hurdles.