Friday, November 22, 2013

So You’re Ready to Start a Business...Are You Sure?


Are you sure you're ready to start a business?

If you have even the slightest bit of doubt, I invite you to continue reading because you might discover why you’re dragging your feet.

For many years, as a recruiter, I’ve worked with people who have talked about starting businesses or I’ve worked with people who have started business but have ultimately come up short and failed.  Failure when starting a business can be financially devastating and can strain relationships to a breaking point.  Success on the other hand can change one's life.  There are two sides to this coin.

I’m a curious person by nature so I always look for the “why” behind the situation.

As I’m privileged to coach more and more people; corporate employees, entrepreneurs, would-be entrepreneurs and sometimes people who just aren't sure where they’re headed, I’m gaining more and more understanding around factors that lead to both success and failure in various career choices.

Starting a business really can be an exciting experience if you’re cut out to start a business. 

More specifically, what I mean is that if your strengths align with what it takes to start, run and grow a business, then you should go start a business.  

People have different ideas about what it means to be an entrepreneur.  Maybe they have the get up and go to be their own boss but when we dig deep to determine precisely how they’re hard-wired, we discover that buying a franchise where someone else has already built the structure is the way to go.

Some coaching clients I’ve worked with thought they were ready to start a business until we uncovered their hard-wiring through coaching.  Once they saw that they possessed only 50% of what it takes to be a successful entrepreneur for example, it became clear to these individuals that they would be better off if they took their entrepreneurial drive to an established company that has a culture that embraces entrepreneurs.

I could get rich if I left and started my own company.

Here is one tactical, practical example I’ve seen for over 20 years.  IT professionals who leave the corporate environment and enter the consulting profession frequently see the money a consulting firm is making off of their work.  The consultant convinces himself / herself that they could become rich if they just started their own consulting firm. 

On one hand they might be right but on the other hand, what these individuals often fail to understand is that they can’t just be a great consultant when they start their own company.  They also have to learn to be a CEO.  They have to master sales, marketing, business development, law, accounting and collections.  Now that's a lot more skill than what it takes to be a great consultant and to be a subject matter expert in one area.

What's holding you back?

Some entrepreneurs have all the skills required to run a business.  Others have only some of the required skills.  If you think you want to start a business but something is holding you back, there is a very strong chance that I can help you figure out what is holding you back.  Together we can figure out if what is holding you back is legitimate or imaginary.


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