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Is Entrepreneurship for you?

BUSINESS PLANEvery day I see social networking sites with posts after posts of people marketing or claiming they can offer the best advice on “How to Become Your Own Boss”. Sure, on the surface, it sounds great. You work for yourself, no-one to report to, you come and go as you please with all the perks, but the truth is, even as an entrepreneur you still work for someone else. As an entrepreneur you always work for your customers. You have to be there, on call, the main point of contact, readily available and always, always, always with a smile! Now I am in no way knocking entrepreneurship. When all the work is put in it can be a very lucrative and rewarding experience; however, there are many of us who are strong leaders and others that are strong supporters.
Strong leaders are those that can’t help but to give direction, motivate others, use their resources to get results, and those with the skill to effectively communicate with others all while getting them to buy into whatever it is you are selling. Born leaders like to be on the top. They like to take control and make tough decisions.
On the other hand, Strong supporters are those that are the backbone of the business. They learn everything about the job functions and deliver on their commitment to execute any task given. Strong supporters know how to take direction, jump in when the ball is dropped and they are always willing to learn more about the business  they are in to secure their value within an organization.
Both of these very different roles are equally important to the success of an organization and either of them can offer a wealth of rewards when paired with discipline, commitment and sacrifice. If you are undecided about becoming an entrepreneur and need some guidance, here are a few things to take into consideration:
  1. Do you have the time, resources, and marketing skills necessary to work for yourself?
  2. Calculate your minimum desired annual salary necessary to support your lifestyle. If you start your own business, how soon can you bring in that profit?
  3. Are you disciplined enough to work for yourself? Keep a one-week journal of your daily activities. Ask yourself these questions and do a serious analysis of your lifetime goals and see if entrepreneurship is the right avenue for you.
Your decisions determine the course of your life. While we cannot turn back the hands of time, we can always find ways to make sure how we spend our time is just as rewarding as the costs it brings.
 
All the best,
Mary V. Davids, MSHRM
Managing Partner
D&M Consulting Services, LLC