10 advantages of being an “worker” vs an entrepreneur

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It is a lengthy, however intense and immensely high-value article. So please learn it absolutely!

At present I need to discuss a number of the benefits of “doing a job”, relatively than working a enterprise or being an entrepreneur.

In case you are somebody who thinks that having your individual enterprise is “at all times” higher than “doing a job”, I need to break your delusion and level out a number of issues which individuals don’t respect about doing a job.

There are many articles, movies, and podcasts about “leaving your job to pursue ardour” and in nearly all of them, a “job” is projected as some type of fashionable slavery. It initiatives “doing the job” as working for another person success and giving your life for others’ profit.

I feel it’s a gross over-exaggeration and whereas the job has its personal limitations and points, being your individual boss has its personal share of very large issues. I’ve additionally seen many salaried folks complaining about their life, work tradition, pay limitation, lack of alternatives, and their declaration about how they need to go away their jobs someday and obtain nirvana and supreme success and get out of the rat race.

Earlier than I let you know some good issues about being in a JOB. Let me first share the intense aspect of “enterprise”

If you do some enterprise or strive a startup – you absolutely grow to be your individual boss, you are feeling extra accountable for your profession path and there may be enormous enormous revenue potential.

Nonetheless solely whenever you “grow to be your individual boss”, you begin lacking many issues which you get in a job. Solely then you’ll be able to respect these refined advantages of a job, which you by no means realized whereas being within the job. At present I need to discuss these good issues about being in a job that’s typically not appreciated or realized.

So I’m going to speak about Three major and main advantages and seven secondary advantages which not main, however issues lots.

Lets Begin

#1 – Much less Headache

When you find yourself in a job, your work could be very centered as you might be accountable for one single factor. You don’t must take the headache of different departments and different small issues. The way in which you use is straightforward and you may blame others for something which isn’t your core-domain.

Because of this you will have much less headache and you may be very productive and centered in your work as you might be clear of what’s anticipated out of you. I used to like my job in Yahoo years again after I had very outlined duties in hand and my to-do record was clear and exact.

Evaluate this to your individual enterprise!

For the preliminary few years, it’s nothing lower than a horror film.

When you are the “BOSS”, you might be additionally a peon.

You’re the one that does salaries, buys workplace furnishings, pays electrical energy invoice, works on the web site, open the checking account, discuss to clients, discuss to distributors, run round to cope with CA, get GST calculations performed, do hiring, do coaching and tons of different small and large issues!

For those who really feel that that is doing to occur for only a few months of beginning the enterprise. It’s not true. Companies take anyplace from 5-15 yrs of creating. There are a lot of people who find themselves having a small firm now with few staff members, however there are tons of issues on their plate which they should deal with and with the altering panorama of enterprise, competitors, regulator, buyer expertise, and enterprise cycles, its a unending circus for a lot of entrepreneurs.

Typically you begin questioning why you might be doing every thing OTHER than the primary activity.

When you find yourself in a job, there are many invisible methods which can be round you and velocity up your work. You grow to be a HERO in your organization, primarily since you had a whole lot of focus and time to excel in what’s your core job. The invisible assist system round you helps you in that.

So in a job, even if you happen to really feel there are many complications, it’s typically at a minuscule degree in comparison with your individual enterprise. So in case you are somebody who doesn’t need to do be misplaced in too many issues and doesn’t prefer to deal with a number of issues in hand, a job is an excellent place to be in.

The job comes with fewer complications

#2 – Clear Separation of Work-life and Private Life

After I had began working 13 yrs again in Yahoo, Bangalore, I bear in mind Friday evenings.

It used to provide a sense that I’m beginning a brand new life altogether – The “Weekend Life”

For the subsequent 48 hrs, I used to be indifferent from my work life and there was nothing on my thoughts. It was not my headache what will my firm. That dialog began solely on Monday morning.

Except you might be at a really prime place or at some senior degree, there’s a very very clear separation of labor life and private life.

This turns into very robust whenever you begin your individual enterprise. It doesn’t matter what you do, there shall be some ideas of enterprise that may crop up in your thoughts. That is just because now you aren’t working for another person. You’re working for your self. Your organization is a part of you.

Sadique Neelgund who began his entrepreneur journey with networkfp.com 10 yrs again shares his touch upon this level.

As an Worker, one of many greatest profit I loved was mounted work hours – Eight hours per day – 5 days every week. Neglect about work and boss, take pleasure in life with family and friends after work and on weekends. Tomorrow, take it because it comes. Resign and transfer ahead if issues don’t work out.

As an Entrepreneur, it’s truly work proper from the time you get up to the time you go sleep. When you grow to be an entrepreneur, your thoughts is at all times considering what subsequent; generally for development and different occasions for survival. It’s unusual many people need to grow to be an entrepreneur as a result of we wish freedom of time. Though we are able to take go away at any time when we wish, go to workplace late and many others… However that basically doesn’t translate into freedom from eager about work & enterprise.

In keeping with me, freedom of time in actual sense is way greater as an worker than as an entrepreneur.

One among my pals was sharing about his relative who has began a restaurant enterprise in Dehradun. As a result of he’s the “chef” himself, the weekends are non-existent for him now. His enterprise is such that the store must be opened nearly day-after-day.

Both he has to attend for his enterprise to grow to be a lot larger when he can rent a employees who’s nearly as good as him or await some excessive conditions or get SICK as a way to take pleasure in a break day.

Additionally, some companies are seasonal and their peak enterprise occurs within the vacation season. So be able to overlook holidays or full off time through the vacation season. This relies on enterprise to enterprise additionally. Think about that you just begin a enterprise which is expounded to “Reward gadgets”. In that case, you’ll be tremendous busy in all holidays. For you Diwali, Holi, New Yr and this type of time don’t imply holidays, however double shifts!

So if work-life stability issues an excessive amount of for you, a job is an excellent place. 

Observe that when you sacrifice the work life stability within the begin of your online business. As soon as its established and issues are in place, you take pleasure in a large amount of labor life stability. You then may be very versatile in your workplace timings, you’ll be able to take off everytime you really feel like and work on days because it fits. It provides a whole lot of flexibility to you.

#3 – Regular and Steady Revenue

One of many issues many salaried workers don’t respect nicely sufficient is the regular and secure revenue that comes with a job. Every month, you understand how a lot you’ll make by the tip of the month. You understand that until you will have your job, your revenue is assured and it’ll come with out fail.

The enterprise danger which your organization takes or any short-term issues which occur with the corporate don’t affect your paycheck. This additionally means you could plan your life in a extra clear method. You understand a lot EMI you’ll be able to deal with, you understand how a lot bills you are able to do, and many others and many others.

Nonetheless, in enterprise, it’s a curler coaster trip. It’s like an fairness mutual fund chart, the place deep down that whereas in long term, you’ll do nicely and issues shall be in place, within the quick time period you need to face a whole lot of volatility. An excellent month/12 months doesn’t imply that the subsequent month/12 months can also be assured.

Enterprise uncertainties generally may be very painful and might put you in a state of affairs the place you begin questioning why the hell you might be into enterprise. That is extra true within the companies the place you additionally need to deploy an excessive amount of funding and the revenue stream could be very risky.

If somebody is leaving the job to start out a enterprise, this facet may be very stunning to expertise particularly when you have debt and you might be paying the EMI.

Checkout out extra on this, on this video by Ankur Warikoo, the cofounder of nearbuy who shares his real-life expertise on this matter

Little question that over the long term, the enterprise may give you a tremendous payoff. Your revenue from enterprise may be enormous and you’ll overlook all of the preliminary painful years, nonetheless this an necessary level to think about.

I requested Amit Singh, an entrepreneur who runs a WordPress design and growth Company since 2009 to share his feedback, and here’s what he says.

To me, there are two good issues in regards to the job

1. Assurity Cashflow, that’s so long as you will have a job, your wage is assured. This permits folks to plan and deal with the work at hand. One other main benefit of that is that you just get to take loans from banks simply for big-ticket gadgets like Residence or Automotive.

2. Time for hobbies, whereas this may occasionally not at all times be true however whereas I used to be working I used to often write blogs to share my studying, and construct fascinating aspect initiatives for myself only for enjoyable.

In case you are somebody who wants a really predictable revenue, the job provides you with that.

#4 – Flexibility to maneuver on and straightforward withdrawal

In case you are not completely happy along with your job and might’t stand the stress, it’s comparatively simpler to maneuver on to another firm, position, or location.

In the long run, you aren’t married to the corporate you’re employed for. You possibly can take the choice to maneuver on to one thing else as a result of on the finish of the day you’re a useful resource. The way in which you might be replaceable by the corporate, even the corporate is replaceable by you.

You have to begin the job hunt, plan out issues, pack your baggage, and transfer on. I’m not saying that it’s a cake-walk, however there’s a good degree of flexibility on this entrance.

Nonetheless, whenever you begin your entrepreneurial journey, there’s a good quantity of economic & emotional involvement out of your finish on your enterprise. You offer you time, effort, thoughts, soul. It’s like elevating a child. You possibly can’t simply go away it in between and transfer on.

If issues begin going mistaken or if you happen to face challenges, you get to repair it and keep within the mess. You cant again out so simply. I don’t need to sound as if I’m attempting to say that job-switching doesn’t have its personal challenges. It absolutely does! , however compared, there’s a enormous benefit within the job.

So in case you are somebody who enjoys this “weak attachment” and respect the pliability to maneuver on to one thing simpler, the job is for you!

However let me additionally level the unhealthy factor right here. Even in case you are working nicely, doing first rate – there may be at all times a danger to get fired out of your firm for varied causes. In the long run, it’s not YOURS.

That factor by no means occurs in a enterprise. Jaise Bhi ho, Apna hai!

employee vs entrepreneur

#5 – Social Standing & Recognition

“Hello – I’m AVP of XYZ company” attracts far more consideration in social circle, than a “Co-founder of an ABC Struggling startup”.

In case you are holding a key place in some large firm, folks need to discuss to you, be pals with you and invite you for varied occasions. You’re additionally acknowledged on social media and getting this consideration typically pampers you and acts as a motivation for you.

You get your id attributable to your designation/model. Additionally in case you are dealing with a key place or managing an enormous staff, you additionally get an opportunity to expertise giving orders to others and command issues. You deal with folks

In enterprise, this social recognition will come very late or could not come each. If you go away your large place in an organization and do a startup by yourself, it’s like from a cheerful, shiny Karan Johar film, you might be in a darkish, real looking Anurag Kashyap film

Let me give yet another shot at it!

From Varun Dhawan of Humpty Sharma Ki Dulhania, you instantly grow to be Manoj Bajpayee of Gangs of Wasseypur.

Right here what Mahavir Chopra who not too long ago began beshak.org after leaving his job at a really large firm shares with us

Entrepreneurship is an excessive sport. It’s a psychological shift. It’s a rollercoaster journey of discovering your self that’s not for the faint-hearted. If you take up an entrepreneurial journey, you might be altering who you might be.

You’re no extra the senior man working in that profitable firm, who referred to as the pictures within the system and issues labored. You’re unarmed, you might be weak, you might be bare in entrance of the world. From you representing a big firm, a tiny firm now represents you.

The romanticization, glorification of an entrepreneur proven in motion pictures, shouldn’t be the explanation you need to grow to be an entrepreneur – that method all of us ought to grow to be gangsters or serial killers :D. You need to grow to be an entrepreneur in case you are able to unlearn, rebuild your self whereas constructing a company that generates worth from scratch – if you find yourself prepared to check your strengths in the true world, you might be able to face your weaknesses.

If this social standing or commanding place is one thing you take pleasure in lots, the job shall be an ideal place for you.

#6 – Transfer up the ladder and entry sure type of roles/work

When you find yourself in a job, you principally transfer forward and up the ladder.

In case you are extraordinarily expert in one thing and your area data is unbelievable. Then as you progress up the ladder, you will get an opportunity to steer an enormous staff in your space of experience.

For those who really feel saturated in a specific area, you’ll be able to consider attempting out one other area in the identical firm or the identical area in one other firm as soon as you turn the job. You principally expertise “progress” in your profession if you find yourself in a job.

Additionally in Job, you should use another person success and laborious work to steer a job that you really want. You possibly can let the enterprise uncertainties be dealt with by another person and dedicate your self to study a brand new ability of your liking (clearly it must be associated to your work).

For instance, let’s say you’re a good software program programmer and have designed nice entrance finish web sites. Now if somebody doing a brand new startup, and also you need to give a shot at main the planning and creating of the entrance finish of the startup. You possibly can be a part of the startup and absolutely deal with that new factor you so as to add to your resume. You possibly can let the enterprise proprietor fear in regards to the funding, firm future, salaries, and different issues.

Nonetheless, whenever you begin your individual enterprise, you typically begin from scratch the rebuild issues. You first do down, then transfer up which is sort of risky.

Let me clarify with few extra examples (ahh.. its not a simple factor to elucidate)

If I need to discover “instructing” a bunch of scholars. It’s nearly unimaginable to do if I open my very own faculty. I’ll then be working round for issues like hiring lecturers, renting or shopping for land, building work, managing employees, design of curriculum, making a advertising plan for the varsity, and whatnot. I can’t be a instructor then.

If you wish to lead a staff of 20-50 folks. Then in case you are an professional in your discipline, then there’s a risk that inside a couple of years you’ll be able to transfer to a different job the place there is a chance to steer an enormous staff.

For those who consider beginning the enterprise, you need to first cope with a whole lot of petty duties earlier than you are able to do that years and years later. You’ll principally be busy with so many issues that you’ll rent another person to steer the staff on the finish of the day!

I hope you might be getting what I’m attempting to say. In a job, there a pleasant probability of incrementally grow to be larger due to different efforts and setup.

Here’s what my buddy Ameya Dhani says, who labored for greater than 15 yrs and now began his personal enterprise as an Industrial answer supplier

After I was engineering scholar, I at all times fascinated about company tradition and dreamt of working with MNC. I used to be lucky to have my dream come true and had probability to serve in Company places of work of MNCs at varied ranges in my job tenure.

Working in an organization will give u readymade id on the skilled & social world. You should have the data required for finishing your assigned activity and if required, firm will improve/polish it by means of their inner staff or consultants. This can assist you to to study new expertise to grasp the duty.

As each worker is answerable for the duty assigned to him, this reduces the burden which helps in having a greater work-life stability. At MNCs, at youthful age you’ll be able to generally go to new nations, meet new folks and acquire higher data of world. Additionally with job, its potential to have a greater way of life at youthful age. Well timed wage and perks are icing on cake.

#7 – S0cial Life & Environment

In case you are doing a job, it’s nearly a given truth that you’ve some workplace pals, a occurring workplace ambiance, birthday events of pals, month-to-month/quarterly eat-outs, and yearly outings every now and then (clearly not on this corona section)

You’re a part of a buzzing surroundings and there are folks throughout you. Regardless that you spend the best time at your desk, you don’t really feel lonely. I bear in mind day-after-day within the workplace we pals used to fulfill within the cafeteria and have interaction in foolish chit chats whereas gulping that juice and sandwich. I bear in mind my workplace pals, colleagues, and the entire ecosystem which used to provide me a pleasant feeling.

Welcome to Entrepreneurship, which is commonly a lonely world!

You begin figuring out of house, or some shared workplace or a tiny workplace which is nowhere near that swanky workplace, and on prime of it, you might be paying the lease. You miss that big-office tradition and infrequently that may be robust to deal with in case you are too used to that type of life.

Lots of people don’t take into consideration this small facet, however for some folks, it may possibly matter lots.

It takes time to reclaim that degree of social life in your individual enterprise except clearly you might be beginning your online business with funding cash and get an enormous staff and workplace from 1st 12 months itself.

#8 – Company Perks

When you find yourself in a job, you additionally get tons of perks

Aside from varied small perks, I need to first discuss two main advantages that are medical insurance and EPF

One of many greatest perks, whenever you work in a job, may be the free group medical insurance which covers you and your mother and father from day 1 for all types of sicknesses. You know the way large a perk that is in case you are not getting medical insurance on your mother and father or your self when making use of individually.

One other large perk is the automated investments which occur in type of EPF. For a lot of the workers, a pressured EPF deduction is nothing lower than an enormous boon. At the least this manner they’ve some investments occurring each month and over years, it compounds to a really large quantity.

Let’s see what my very long time buddy Animesh Gautam who began his personal enterprise round 2 yrs again (after 13 yrs within the job) says

For me a very powerful suppose I relished in regards to the Job was the PF contribution that had been made compulsorily, it helped me at lastly arriving on the determination of quitting my job, because the contributions in PF after 13 yrs of labor had been appreciable sufficient to provide me some monetary stability and I used to be then capable of take calls unbiased of economic constraints.

Then there are various small perks and benefits like

  • Free/Discounted meals
  • An infinite doze of free tea/espresso/cookies.
  • Creche
  • Free workplace cabs
  • Free Life Insurance coverage
  • Company tie-ups with eating places and types
  • Fitness center Memberships
  • Tie as much as get simple bank cards
  • Tie-ups with varied mortgage suppliers

Being within the job, folks actually by no means respect how briskly they get a mortgage by simply giving their kind 16 and ITR for final Three yrs for any type of mortgage (for enterprise folks its a headache to show that they’ll repay the mortgage, we’ve to provide our firm stability sheets, revenue computation with CA attestation and what not!)

Briefly, there’s a good quantity of pampering occurring which regularly you don’t understand.

One among my pals who works within the IT sector additionally talked about that she is lacking the tremendous comfy workplace chair on this WFH interval. She by no means realized it, however solely now.

I don’t know the way true it’s, however my Delhi buddy stated that many individuals within the North additionally love the truth that their places of work are absolutely AC which they miss when they’re again house (in the event that they don’t have AC at house)

If you begin your individual enterprise, you typically begin from a decrease base with all these advantages and facilities gone. However as soon as you might be established with a pleasant workplace and employees to maintain issues, you get a few of it (nonetheless not FREE)

#9 – Set again attributable to errors or exterior elements is decrease

In a job, the affect on you, as a result of making a mistake is way lesser in comparison with a enterprise.

Any mistake in your finish will imply a direct loss to your organization and an oblique or a delayed loss to you. It’s not that your subsequent paycheck is at stake.

Even when there may be some large mess up out of your finish, the utmost you’ll be able to lose is the job, however you continue to have your expertise and years of expertise with you. Even if you find yourself too careworn attributable to some workplace challenge or a mistake performed by you, you will have an choice to depart the job and transfer to another firm and really feel responsible for some restricted interval. The case is closed for you.

Evaluate this to your individual enterprise, the place you need to cope with the error and repair it. You cant go away it!. Additionally, the direct affect is on you.

#10 – No monetary Funding

Lastly, a really small advantage of a job is that you are able to do a job with out incurring any monetary funding. You simply want the ability and that’s all.  The perfect instance of that is the restaurant enterprise.

Think about somebody took up the job of a restaurant supervisor in a brand new upcoming restaurant.

Because of the corona pandemic, the setback for the restaurant supervisor is barely his job. However for the restaurant proprietor, it might be a lack of enormous capital.

So a job provides you a chance to earn cash with none monetary funding.

However if you wish to do enterprise, you need to be prepared to take a position cash in a lot of the circumstances

Aside from the 10 factors I discussed above, I additionally need to discuss a couple of extra issues .. Let’s see these

Am I glorifying Jobs?

After I completed writing this text, I felt as if I’m glorifying jobs and giving an impression that one mustn’t try doing enterprise and at all times be in jobs as they’re so nice. Nonetheless, I’m simply attempting to place some extent that you must love and respect your jobs lots as they’re wonderful in sure features.

Folks in jobs will certainly have a restricted upside on their salaries (aside from exceptions) in comparison with a enterprise particular person. Nearly all of the wealthy folks in India are enterprise homeowners and never a salaried class. Nonetheless, there is no such thing as a written rule that everybody ought to purpose to grow to be a billionaire. You possibly can lead a cheerful and content material life even being a salaried particular person and that’s completely high quality.

Companies although have their very own limitation rating on many factors which isn’t the agenda of this text and I’m not going into it for now.

“Entrepreneurship is at all times higher than only a job”

That is absolutely not true.

After we hear about entrepreneur tales, we regularly hear in regards to the large success tales that are value billions. We are going to hear about Bansals who was in a traditional job in Amazon and who at the moment are value billions of {dollars}. However we is not going to hear about people who additionally used to work for amazon and left their jobs to start out companies which by no means took off and so they needed to return again to jobs and nobody is aware of their tales.

Little question that entrepreneurship has the potential for a really large payoff if issues go in the proper path. But it surely’s not for everybody and shouldn’t be tried only for the sake of attempting.

There are tons of struggles in beginning your individual work and most of the people fail at it. Additionally, small successes are sometimes not celebrated sufficient. You’ll not hear in regards to the man who left his job to construct a Four cr firm and a staff of Eight folks after 12 yrs of laborious work. You’ll not hear in regards to the 2 companions who’re making 5 lacs a month every after going by means of the hardships. These all tales will not be “success” as per the startup world although 99.9% of individuals finish with precisely that type of outcomes.

In the long run, it’s a choice between what you need to be – a “Small-time entrepreneur” or a “Large-time worker!”

You may be an “entrepreneur” whereas being in a job

Consider it like this.

An entrepreneur exists solely due to the individuals who do the job. No entrepreneur desires to work in isolation.

He desires to have a salaried staff that may assist him develop his work. Salaried individuals are the spine of any firm. What you want is the mindset of entrepreneurship to make tons of cash and command numerous respect.

Do your work as in case you are the proprietor. Suppose from a enterprise angle and contribute. You’ll grow to be a precious a part of the group and your compensation may even develop and be linked with the enterprise.

Aditya Puri of HDFC financial institution was an worker, however his angle was of an “Entrepreneur”. He retired with 800 crores value of firm shares.

Sundar Pichai can also be a salaried worker of Google. However he acts and thinks like an “Entrepreneur”. Final 12 months, Pichai was granted a $240 million inventory package deal on prime of a $2 million annual wage.

For those who create worth and work with a giving angle, then you definitely robotically grow to be an “Entrepreneur”, you don’t at all times have to start out your individual enterprise.

I hate my job, so I need to begin my very own enterprise

“I hate my job” is the worst cause to start out your individual enterprise.

The general public who succeed of their “enterprise” are those that had been fairly completely happy of their jobs.

They didn’t go away the roles as a result of they hated it. They left it for a much bigger cause. Perhaps they wished to be in a commanding place, possibly they wished to expertise the robust path, possibly they need to execute an thought which they weren’t capable of do within the job. Perhaps they wished extra flexibility of their life which job was not offering them. Perhaps they wished to earn some huge cash, which they didn’t see occurring of their job.

For those who don’t like your job or are sad. Try what’s the cause is after which repair that.

  • Perhaps it’s your boss
  • Perhaps its the corporate surroundings
  • Perhaps it’s your wage
  • Perhaps it’s the shortage of freedom.

Repair that.

Leaving the job will not be an answer.

Don’t devalue the cash you earn for the sake of “ardour”

Pursuing a ardour is extremely overrated and filled with fizz.

The general public who appear to be following their ardour are simply fortunate individuals who began one thing and it clicked and so they don’t hate it now. It was not a deliberate path they took.

Usually, the tales of “he/she left his job to pursue his dream” don’t take a look at life realities and the significance of cash in life.

You cant pursue your ardour with worries of paying the subsequent lease and considering from the place your child’s charges will come subsequent 12 months. In case you have studied nicely and acquired your arms on a nicely paying job, do worth it and the cash you make from it.

There is no such thing as a drawback is pursuing your ardour, however do it with some good planning and as soon as you might be financially secure. Else issues can go within the mistaken path.

I as soon as got here throughout an NRI who wished to return again to India to pursue instructing. He had a good networth. I requested him if he can stretch a bit extra and work for five extra years? He stated YES.

I requested him to try this and delay his entrepreneur stint a bit late. That method he can be round 1.5 crores richer as a result of he was capable of save shut to three lacs a month whereas within the job. I requested him to not devalue that.

Ramit Sethi talks about this in his article “Comply with Your Ardour” is unhealthy recommendation

Job or Enterprise – Each are Nice!

I need to finish this text with this level that although I attempted to share many advantages of a job on this article. I undoubtedly don’t need to painting that the enterprise world is unhealthy or shouldn’t be pursued. All that I’ve stated above is holding in thoughts a bigger inhabitants. There are occasions in life the place all of the logic doesn’t work and doing what your thoughts tells you is the proper factor to do.

A job although has many advantages typically places you in your consolation zone and you aren’t capable of discover your full potential. However anyway, I simply wished to ensure that folks love their jobs and respect what it offers them.

We regularly don’t respect what we’ve in hand and simply really feel that we’re lacking out on one thing which others have.

I hope you’ll begin seeing your job with a brand new perspective and grow to be extra precious going ahead.

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