Why I am reluctant to start up on my own

I am a current contractor for an IT company in Melbourne. This is far from entrepreneurship although I am on my own and jobs are assigned to me in my region. I take a cut in the commission on the job done. First year was tough as I am not inclined or good at asking clients to pay up the right amount, always giving discounts until my pay master become unhappy.   

The reason holding me back from setting up on my own, as a green foreigner in a foreign land, chances are that I will lose my money if I really go ahead with setting up and becoming a real entrepreneur. I am not that kind who can succeed in first attempt and I don’t have spare cash to sustain a business failure.

Besides, I think a lot thru and over again if it will work, imagining all kinds of situation. I am quite a pessimist cos’ I believe smart people are full of doubts. Also, partly, in my circle, there is only one friend who make it big, big enough to pay a million bucks for house renovation on top of a new house, before you get it wrong, i find my friend very admirable. I am also quite a critical risk assessor on risks that I will take. Foremostly, I was trained to work for people and not become an entrepreneur.

Ideally, I can find a likeminded and more experienced individual to do a joint venture. If not, I am better off speculating in trading equities although I believe trading is also a form of gambling, money win in trading is also a form of ill-gotten gains, the more experienced ones will lead the least experienced ones by the nose.

I also see that problems one encountered in his/her rat race climbing the corporate ladder are no fewer than problems one may face in doing business. You don’t like to have a boss over your shoulder, but you will also bow to your customers in business. Literally, it is similar shit.

Some business ideas I had before include setting up online business or be a middleman between people from different continents sourcing for china products. The first one is easier but may have a problem sustaining for a small start and as for the latter, buyers will bypass you after the first deal unless there is a contract signed, familiarization of the country’s legal system is required. So for now, I am contented being a contractor. 😊