Where do You see Yourself in next 10 years?
These types of questions are usually asked in interviews “where do you see yourself in the next 5 years?” What are your goals for the next 10 years? So being an entrepreneur is a most valuable question as to the decision we make today can push us 5 years further or hold us back. Entrepreneurs are usually conscious of decision-making. According to Neil Armstrong “That’s one small step for man, one giant leap for mankind.” So small steps have their value and they are only valued if they are on proper environment and grounds. Else no one remembers the one who steps on Earth everyone remembers Neil Armstrong because he stepped on that ground where everyone could only dream about.
The Next Generation will be more agile, problem-solving, and will be using more gadgets to save their effort. They will always be after a new wave of innovation. Due to the pandemic, a lot of people lost their regular jobs as businesses were closed and they didn’t have funds to pay salaries so only those people survived well who were either having a Government Job, or their employer was good that he paid them salaries during a lockdown or they had a better plan to cover their loss.
The first two cases were not so common but we will talk about the third type of people who survived pandemic because they had a plan to overcome their losses and most of them were entrepreneurs who changed their entire lives by startups. If we talk about the US then only US 4.4 million new businesses were established during the pandemic and nearly half of them were started with less than $10,000. This is the quality of an entrepreneur that whenever he observes an opportunity he grasps it firmly. During the pandemic in 2020, medical products prices went skyrocketing and entrepreneurs see it as an opportunity and started developing facemasks at their homes the raw material was cheap but in lockdown, prices were 5x so a lot of people made a large sum of money by selling masks. Those entrepreneurs who cannot produce facemasks at home managed to buy them in bulk when the lockdown was near and sold when prices hiked up. So when you want to make money then there is hardly any excuse you just need to point out a potential opportunity and get started. So the sky is the limit when it comes to entrepreneurship the entrepreneurs are always ahead of time.
After a year at the end of 2022, the sellers see themselves struggling and getting new ideas. They are continuously making enough mistakes but are consistently improving and progressing. They are unlocking different pathways to achieve success. They are knocking on doors for success all the time and when they fail to find a door they build one for an opportunity to knock. They try different platforms for selling like Amazon, eBay, Shopify, Wix, Big Commerce, Woo Commerce, and so on. If you are an entrepreneur and you have just started then you would see yourself similar to the person mentioned above. If someone has already an established business then a year from now, the person would be seeing himself in the heist of making their first million-dollar.
After 5 years from 2022, the entrepreneurs who have started their startups in Q4 are now well-groomed. They have a complete understanding of trends in the market only due to multiple failures they have faced in the past 5 years. He knows art for fundraising and is pretty familiar with what opportunities are required for investment. Now they are in the “Investor Stage” they invest their own and other people money on different projects which their mind approves that these products will generate ROI plus profit after a specific time period. Through time they are now mature enough to take bold decisions and are pretty aware that losses are part of life in order to succeed they might fail. And through this stage, their “Name” becomes a brand like whenever someone wants to invest most of the people recommend the entrepreneur who has a high success ratio. They deal with multiple people and their number of transactions is higher than average. Due to their experience, they have case studies to showcase their skills to potential investors. As they are dealing with a number of people their Public Relations buildup and hence their name and fame continue to buildup.
10 years after 2022, in 2032, the entrepreneurs see themselves getting their 1st million dollars or they are now multimillionaires who hire people to do their work. They invest and make young people play with investment to achieve their goals. And they are sleeping partners in multiple businesses. They have just reached the stage which is known as “Institution” now people are training under them to generate revenue. They do this because young people can do that task better than them of a client ask for ranking their product by using PPC campaigns then a person with 10-15 years of experience as a seller on eCommerce will not do It all by himself but he will hire another professional with 2-5 years of experience to get the job done and at the end, the worker will get its wage and name sold will be of the person who took the project. In short, the person at this stage will train youngsters and let them succeed as it will be a win-win situation if the other person gets profit then obviously shares of profit will be delivered to the trainer/investor also. Till 2023, youngsters of 25 will be of nearly 35/36 years of age equipped with wisdom and knowledge. A young energetic boy of 25 is now turned into a mature investor + institution, now he will ask boys under 25 to spend their energies for him and he has no assets in hand.
So if you are an entrepreneur and someone asks you how do you see yourself in the next 5 years? Or how do you see yourself in the next 10 years? Show them a roadmap that you see yourself as the satisfied and successful person whose name is a brand.