Till date you might have read many articles on my blog on How much money I earn online every month from different networks, but this article is a little different one. I not only earn a lot of money online but also lose even more. For your information I am not a Blogger anymore and more of an Entrepreneur. Though my company All Tech Media Pvt. Ltd. was registered on March 18th and then started fully functional from April, I started ground work for the company from the beginning of the year itself i.e January 2014.
Why I Started All Tech Media Pvt. Ltd?
As an individual blogger I was earning more than $4000 every month. Which is way higher than what 90% of the MNC’s offer a fresh graduate. The whole idea behind starting All Tech Media was to build a company which can earn multi millions every month and automate the process of generating income and expanding the same in various fields of my Interest.
As an individual with a family I don’t need more than $3000 every month to pay my bills and live a reasonably comfortable life. Infact this is the salary I take every month from my companies income, rest goes into investments for further expansion.
1. Character, Attitude are more important than Knowledge if you want to do Business together
This is the biggest of all the lessons I have learnt till date. A person can be trained to be more knowledgeable but a person with bad attitude/character cannot be changed (A Leapord cannot change its dots). If you don’t like attitude of a person, better stay away even though it might be profitable for you. A person who is problematic tend to create problem at some point of time. So, better avoid any kind of business with such people even though if its profitable for you in short run as it will create issues in long run.
After all attitude is everything.
2. An Entrepreneur can never be an Employee
This is yet another biggest realization so far. All the people whom I hired are either bloggers who are earning or the people who have plans of earning well for themselves in future. So, even if I pay them very high salaries they always think of starting some business for themselves. Moreover I am into a very bad field where its very difficult to keep people within the company as an employee for a longer period. Internet Marketing doesn’t require much technical knowledge. Its all about technique, if you have learnt some good SEO and SMO techniques then you can build your own blog/website and earn some good money. However it might not last long in most of the cases as a blog or website needs lots of dedication to withstand in long run. But everyone needs more and more money as a saying say “You can never have sufficient money“. This leads them to do something gives them quick and more money. Its always better to avoid people who have entrepreneurial thoughts even if they are smart.
3. Don’t hesitate to say no if you don’t like something, get things written properly before you start as it could end badly later on
While registering the company they said that a Pvt. Ltd. company must need two Managing Directors. Ofcourse this law is now revised and now a Pvt. Ltd. company can be registered with only one Director. I don’t want anyone to be the Director of the company except me. But this situation has thrown me in a dilemma and I was forced to add one more Director. I could have added one of my family members as a Director just nominally but I don’t wanted to disappoint my companion at that time and was forced to add him into one of the Directors.
Again I didn’t had full faith on that person and just kept a nominal share of 10% which was not the actual share that he must get and this lead to a lot of problems later on.
Instead I would have simply added one of my family members as director nominally. At the end of the day its your family members who stand behind you no matter whether you are right or wrong.
4. The one who says that he doesn’t need money for his work is the one who gonna create mess at the end for Money
Every week many people come to me for employment and to work with me. As of now I am very choosy in selecting people but in the beginning I used to let many people in if someone requests me. Whenever someone comes to me they just say me that they are not here to work with me for money and they just want to work with me to have an experience. They also surprise me by saying that money is immaterial for them and they are not expecting anything from me which is Bullshit.
Till date all the people who came to me by saying that they don’t want money or had to maintain a relationship with me or want to learn work from me are the people who troubled me a lot. Such people approach me only for money and act as if they don’t need anything from me.
A real life lesson: A person came to me in the very early days of my company. He showed me his blog and everything. Traffic was decent but earnings were very low. Later I asked him to join my company to help me with hosting and wordpress which I was not well aware of these things initially. This person just said me one thing that he just need $300 every month as a salary from me and said that he is not expecting any kind of favour from me other than this. I was so foolish that I actually believed in this person. Later one day this person came to me and said that his parents were forcing him to go for higher studies as his salary is low currently. He also mentioned that he is not interested to go for higher studies. This again left me in a dilemma. Then I decided to hike his salary to $400 per month and later due to some silly reasons I again increased to $500 per month. This is way more than what most of the MNC’s offers a fresher in India. This same person later played a lot of game behind my back. He started dealing with clients directly and took money from them without the notice of the company. Due to this few clients actually stopped using our services. Truth has to come out some day and it did. We had to terminate him due to his illegal activities being in the company. This was the most brutal betrayal I had ever experienced and the most money minded person I have ever seen in my whole life.
5. Education and Academic Record Matters a Lot
Although being a very merit student myself since the beginning I don’t believe in marks and grades. I believe that different people have different passions and are tend to show interest in only their own field of interest. But what I realized is Education and a good Academic record are very crucial in life.
In my whole experience till date people with good academic record tend to behave wisely, have patience, understanding and most importantly moral values. Most of the students with bad academic record(Here am using the word most of them, there is a lot of difference between most of them and all of them) are poor in many aspects. Especially the people who don’t do well with their academics turned out to be Lazy and always comes up with some or the other Excuse to escape from work.
6. One Bad Apple can Spoil the Whole Bunch
The saying says it all. A bunch of Apples might get spoiled due to one spoiled Apple. Actually this is very true in real life as well. A negative thought doesn’t ignite in every mind at a time. Its only the one person to whom the negative thought might arise and this might influence others as well. So, if you find a bad apple in the bunch first separate it from the bunch.
7. Being Sympathetic is Bad while Recruiting
There is a lot of unemployment in India. Due to this many people are struggling in their lives due to lack of money. Now, stop being sympathetic towards such people. Every year thousands of students are getting recruited and lakhs of students are not getting proper job. Ofcourse I don’t deny the fact that there is a scarcity of jobs but we must also realize that there are many students who are getting jobs.
So, if someone doesn’t get a job its not the mistake of the system, instead its the person himself who doesn’t have proper skills to get into that particular job. Now you might be thinking why am I becoming too emotional. Yes, I have shown sympathy towards few people while recruiting due to their cruicial financial position but later the people whom I recruited didn’t work well and that didn’t turn out to be fruitful for me and I had to fire them later on.
If a person didn’t get job, its not the mistake of the system. Its the person himself who didn’t work hard to have the adequate knowledge to get placed.
8. Friendly atmosphere is not always good
Friendly work atmosphere is good in some cases but being serious towards work is more preferred than being friends. Atleast, its better to keep a distance from employees. An employ should love his job, not company. The same is the case of the company, A company should love the work of the employ and not the employ.
9. Too much of trust is dangerous
Yes, during the initial stages I used to trust people blindly as I was not aware that people can go to any extent for money. Its better to monitor each and every employ work using cameras and recorders.
10. Brace yourself to fight against even more odds
Being Entrepreneur’s we are bound to make many mistakes and we must be prepared to face all of them. No matter how bad a situation could go, we must be in a situation to handle it. After all its part of the game.
I always believe in one thing, nothing is permanent and nothing can remain permanent. What you have today might not be yours tomorrow. All you have with yourself is your knowledge. All the materialistic things can go away from you anytime. So, if you have sufficient knowledge and skill set then you can accomplish almost anything in your life.
I have recruited many people since the start of the company. Among them 14 employees turned me down and I had to lose over $35,050 in the form of salaries and I also gave a lot of money for my co-partners while I was removing them from the company so that they can have a better life later on. The most important thing to be noted here is that I have lost a lot of money but I have lost only the money I have earned till now. I personally didn’t put anything from my pocket other than a loan of $4000 from bank to clear few debts. Even though I was undergoing many downs that didn’t effect my personal life as by the time I started the company I was already very well settled with a own flat, car and all basic amenities. So, just $3000 a month could be sufficient for me to pay all my bills and lead a happy life.
If you need a little more insights about my Entrepreneurial journey do check out my about page.
So guys let me know your thoughts in your comments.