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Self-employment and Sustainability

The Main Body Thought and Piece

I have always been interested in determining the best approach to accumulate wealth. The most effective approach according to the position taken by researchers in this domain is getting employed or starting a business organisation. This approach to getting rich has been reliable since the prehistoric times. Currently, the world is struggling with poverty especially in the third world economies where most people are classified below the poverty line. How can these people get out of that poverty? This has been my concern when analysing the concept of sustainability from a global perspective. The idea of business start-up dates back to the mid-20th century but the events that involve business start-up can be traced back to the middle ages (Wolff and Nivorozhkin 2012). In the contemporary business settings, a start-up in most cases involves technological inputs, and a business idea is converted into a small business organisation that is designed to convert the technical idea into a business outcome (Lloyd-Jones and Rakodi 2014).

By grasping this idea, numerous individuals have been able to amass wealth and attain a sustainable living status. For a person to become a good pitcher, it is not mandatory to be conversant with physics concepts. But I believe by developing an understanding of the basic principles, a person will be more effective. To clearly position my idea, I have always asked myself various questions related to business start-ups, such as:

  • Why are most business start-ups small?

  • Why do most start-ups focus on new technological development?

From an economic perspective, I consider a business start-up as a compression of a person’s life into countable years. Rather than working at lower intensity for 30 years, a person can work as hard as he/she can for three years. This approach has been found to be fruitful especially in technological developments where an individual can earn a premium price for higher work output (Lloyd-Jones and Rakodi 2014). Specifically, most people working in employment positions rarely reach their full potential hence their contribution to enhancing growth and sustainability of the global economy is minimal (Palmer 2009). For instance, a computer software engineer in mid-20s can be employed in a job paying about $100,000 annually. This implies that such a person needs to be able to do work worth at least $100,000 every year to break even. Under normal circumstances, such an individual is capable of generating twice or even thrice the output that earns him/her the $100,000. Therefore, if a good software engineer is worth $100,000 annually, then a talented software engineer working in settings that are devoid of the corporate bureaucracies that will slow him/her down can generate over three times this amount annually.

Business start-ups are not mystic. They do not introduce any changes to the rules of wealth generation. They simply represent an idea that is located at the furthest end of the curve. Particularly, a person interested in making more money than the ordinary employment can offer should be prepared to endure more pain (Wolff and Nivorozhkin 2012). For instance, a decision to work in a company for an entire lifetime where maximum saving is done can enable a person to make significant wealth by the time one retires due to old age. The stress of working for some company for over fifty years is enormous. This pain is compressed into a few years in a business start-up which makes it challenging for many to endure as much as it is considered to be the solution to the growing gap between the rich and the poor in the world.

Making realistic projections and working towards them is vital for an innovative business start-up to endure the challenges it will face in the contemporary business settings (Reize 2012). To some people, $1 million annually may seem too high while it is regarded as too low to others. It is not a good idea to utilise success stories of famous billionaires such as Bill Gates as motivation for business start-ups since the media has said enough already. It is well known that Bill Gates is a hardworking, determined and smart man, but for a person to attain the level of Bill Gates, one needs more than his attributes. There are numerous ways of making the world a better place for everyone by eliminating poverty. The focus of this paper is the role individuals can play through tapping into the resources around us. The focus of this article is to position an idea of not only creating wealth but getting paid in the process of accumulating the wealth. There exist numerous other ways of making money including prospecting, counterfeiting, lobbying, graft, monopoly, fraud, extortion, theft, inheritance, marriage, speculation, and chance. Most of the individuals in the Fortune 500 list probably have made it through several of these means. The advantage of generating wealth as an approach to uplifting an individual and a society out of poverty to a self-sustaining level is not just limited to its legitimate status but also, it is straightforward (Reize 2012). The focus is on coming up with an activity that is needed by people.

The concept of wealth as used in this article is not limited to money. Wealth, in this case, is having things that we need such as cars, houses, clothes, food, gadgets, and many other activities that make life interesting. It is possible to be wealthy without having money. Money is simply a way wealth can be moved around. I consider it to be a by-product of specialisation where in a specialised society, most things people need they are unable to generate hence the need to trade. I used to believe that the current economic problems around the world are a product of a few people holding onto most wealth available in this world (Lowe and Ward 2007). However, a decision to develop a business idea into a real business can disapprove this sentiment. It is possible to make more wealth, and this is the solution to the current economic imbalance that exists around the world (Temkin 2009). Historically, wealth has been created and destroyed so many times, and yet some still believe in the idea that the wealth around the world is constant.

To sum up, the solution to the current problems of global poverty, economic crisis, and a growing gap between the rich and the poor is changing our mindsets from focusing on securing a job to creating wealth through business start-ups and innovativeness (Lowe and Ward 2007). It is possible for every person in this world to be above the poverty line and still maintain the level of wealth that is held by the fortune, 500 members. The perception that wealth redistribution is the solution is unfounded. Many people have managed to build empires without the help from the rich and famous. All we have to do is appreciate that wealth can be created and take an initiative to thinking outside the box of ‘employment’ (Rupasingha and Goetz 2013). Consequently, I believe this idea is the solution to most economic sustainability challenges that are rampaged in most parts of the world. Individuals need to realise the solution to their problems is found within them. They have the capacity of emerging from the challenge of economic unsustainability by working extra hard and seeking ways of being job creators and job seekers.

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