So you are starting a business? Really? Are you sure?

Do you really think being in a business is a sure fire way and is your star gate to financial freedom? After saying good bye to your boss and your colleagues, will you be led immediately into the path of light?

While the eventual taste of success is immense, the journey can be very long, tiring and often a painful one. At times, the reality is shocking that people quit business in no time and go back to their 9 to 5 job. Their dream is now gone. Forever and never to be seen again.

Here is some reality you will face when you’re starting a business. With perseverance, success awaits you at the end of the journey.

1. You put in more hours

If you’re quitting your daily job because you’re tired of working excessive hours, wait until you start your first business. Driving the momentum and creating your first success will require a super extra effort from your end. That’s why there is this wisdom that says if you want to do things, choose something you like. Go for a venture that you have passion for. Do things that you will do for free, even without anyone paying you. Money will come later.

2. You have less friends

If you have more than 30 people working in your office before, with the new business, you probably have one, two or a few more. Perhaps, you will be on your own most of the time. Your regular luncheon buddies will no longer be around. Sometimes, you feel very lonely. Often, knowing you quit your job and start things on your own, many do not want to be close to you, so that you won’t come for help. Friends will be more skeptical than supportive.

3. The stress is overwhelming

The stress of doing a business comes from all sort of elements and angles – lack of funds, firing blanks in marketing, failure to attract good employees, sabotage (both friends and competitors), vendors chasing for payments, issues with the premise owner, licensing and agreements delay and many more. Sometimes, all the problems come at one that it cracks your overall business operation and send the ship sinking fast.

4. Getting your first $1000 is difficult

It will undeniably difficult to get your first $1000. Even after you reach the mark, the task of sustaining the income will be even greater. Now you know how the life is without that steady paycheck. You will dearly miss your last full time job. Also, you will have to make due without proper meals, clothing, shoes, sleep and business facilities. Worse, you may end up sleeping in your own car.

5. You do all the things

The full time job encourages specializing in the industry. The more you specialized, the higher your value will be, and higher the pay you can demand. The employment world rewards those who know a lot about one little thing. But how different it is business. The reality is otherwise. You need to know a little about a lot of things. Which means you may end up doing everything from marketing to customer service, on your own before you can start leveraging.

TNB (Tenaga Nasional Berhad) has introduced an online whistle blowing program which allows its employees and the public to report abuse, corruption and misconduct involving TNB staff and suppliers.

The system, called WBIS (Whistle Blowing Information System), was launched yesterday by the company’s Chairman, Tan Sri Leo Moggie. Full report from The Star here.

Apart from the online channel, TNB, which is one of the largest utility and energy companies in Asia Pacific, also provides 24-hour toll-free hotline service where the public or staff can call 1-800-888-862.

The program was first introduced in 2007 where more than 150 complaints have been received, resulting in disciplinary actions on the employees involved, with some of them terminated from their jobs. Other actions include demotion to a lower position, and suspension of work, bonus pay out and promotion exercise.

Through the system, wrongdoings and abuse by TNB’s employee and suppliers can be reported through online channel, where the user will be asked to key in the relevant information such as nature of complaint, location, people involved with incident, dates and witnesses. Evidence, in the form of attachment and pictures can also be provided in the online form.

Click here to be directed to TNB’s Whistle Blowing Information System.

Buying a franchise? Before you do that, look at the following questions, answer them, and evaluate if you’re ready to jump ship.

1. How much is the franchise fee? Do you have a complete range of the fees they offer? What is your affordable range? $10,000? $50,000? $1 million?

2. For a few different sets of fees, have you looked at the real franchise outlet operating? Is the outlet size and operation as what you have in mind? Is it manageable for you?

3. What exactly types of training will be offered by the franchisor? Does the training provide adequate skills and knowledge to you running the franchise? After you hire staff, do you have, in turn train them, or can you get assistance from the franchisor to help out?

4. What about training fees; is it included in the franchise investment you will be committing? Or are you going to spend more money for the purpose?

5. Will you be given any exclusive territorial right by your franchisor (which means no franchisee will be operating within certain radius)? The last thing you want to happen when you operate a 7-Eleven outlet is seeing a new outlet opening just across the road, 10 meters away from your shop.

6. Do you have in mind what will happen if one of you (franchisee or franchisor) terminates the agreement? What will be the repercussion in terms of financial and legal? What obligation you will need to fulfill on the premise, which include equipment leasing, rental, asset purchasing and so on?

7. Who will decide the site or location of the operating outlet? Will you be asked to undertake a research, negotiate a deal and submit your site to franchisor? Or will the franchisor lend you a hand on this? Will the franchisor actually do their work and determine which location you will be operating?

8. You’d probably think that buying a franchise means you won’t work as hard as starting a new business. That’s an urban legend. Are you ready to dismiss this myth? Are you ready to put in long hours and not go for holiday for the next 1 year.

9. How you will be financing your franchise business? Cash? Loan? If it is loan, from which institution? As most financial institutions do not provide 100% financing, have you set aside between 10% to 20% of your own money?

10. What type of role your franchisor will play during your submitting application for financial loan? Will they help you out? Or they will only see you once your business loan is approved?