Starting a business of your own is a challenge. It requires time and effort, will power and taking risks. The thing is: every third of us is said to be only partially satisfied with his or her current position, a lot of people do the jobs they never enjoyed, and everyone has considered doing a start-up, at least once in a lifetime.
Scott Stropkey, the head of a Boston product design and consulting company was moved forward by a sudden layoff. In a blink of an eye Scott met the key choice of either being employed or becoming an employer himself, and rushed to fulfill his lifetime dream. Today Scott is sure: working for yourself is the best job security.
Although a start-up may be a fascinating adventure, there are several things to consider before getting foot in it. Jan Norman, has interviewed 101 successful entrepreneurs and shares her ideas in What No One Ever Tells You About Starting Your Own Business.
A new-born business needs nursing
A start-up is similar to a baby: once you get it, your life is never gonna be what it used to be. Like a baby, an enterprise will bring you sleepless nights and endless worries. And after some time it’s sure to pay you back for the love and ambition you’d have invested into it.
Narrow interests won’t work
No matter how much you are involved into this or that idea (from making clay pots to building a cat farm), this does not guarantee any success. Unless you get a positive feedback, and your ideas are welcomed and well awaited by a certain target group, a business may be no more than a hobby. Being aware of customer’s current needs and market situation is crucially important.
Are you born businessman?
Small wonder, entrepreneurs do undergo a lot of stress. The advantage of free business floating is always entwined with inconsistency and a lack of reward. A perfect start-upper is a person in good emotional and physical health, the one who can survive failures, overcome misfortunes and total breakdowns, a stubborn and result-oriented person. Moreover, there are not so many true strong leaders among of us. Doing a start-up inevitably brings moments, days and months of ultimate vulnerability. Ask yourself, are you prepared to face all this?
Be ready to deal with small tasks
Getting rid of a boss and becoming a boss yourself, you get rid of all the junior staff as well: at least for some time you’ll have to cope with cleaning, fixing or doing some secretarial job. Be ready to take roles and to experience what you’ve never expected in your dreams of a personal enterprise. On the other hand, only this way might lead you to wisdom and prosperity and teach you how to manage a company of your own. If you have nothing against learning how to wash the floors, it raises your chances to learn more complicated stuff.
Not only you will have to act as a number of employees for some time, but it might take years to gain profit. Do you have enough enthusiasm not to give up and endure the times when you’ll be kept spending without earning? Do you have enough money to spend on a venture, no one knows will ever be a success? Having a business partner can ease your financial trouble and give you support. It goes without saying that the battle of business must not be lonely.
As for Scott Stropkey and his company, it has grown into a flourishing enterprise: with a growing number of employees and, most importantly, bringing regular income.
Scott is sure, they have left behind the toughest times. It made them strong: no matter how much market conditions are gonna change, the company will get over any hardships. Scott is an optimist, isn’t it the most important?