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Can I Survive Owning a Business?
My friends envy me because I can get my hair cut or have a manicure any time I want. Another person may
choose a round of golf or watch their child play soccer. They equate flexibility of time with "free" time. As I
started to think about the entrepreneurial spirit, I started to think how I have survived as a female business
owner. Do you have this spirit, and can you run a business? Can you do this without pulling out that newly coifed hair?
Here are a few questions to ask yourself:
- Is running the business more exciting than the work? If someone told you they would bankroll a new venture to
create a business, but you have to give up your actual career, would you do it? My first love is running a business, and although I truly enjoy my work, I could delegate the job and market a business.
- Am I a risk taker? There is no tenure, job security or guaranteed income, and if the lack of it will drive you crazy, then you are not an entrepreneur.
- Can I sacrifice some parts of my life for my business? There are times that finishing a project pre-empts Saturday night dates, sleeping in on a Sunday morning, or taking the kids on a vacation. Sacrificing everything is not the
issue: making choices is.
- Can I follow-through? I always ask prospective employees if the work on 1000 piece jig saw puzzles. If they say
they start them and give up (perhaps when the edges are connected) I don't hire them. Completing a task, particularly when the going gets tough, is an attribute to being an entrepreneur. There will be many times that you feel like giving up, but the perseverance is sometimes what separates the failure and success.
- Can I relate to people? Even if your business involves more computer work than human interaction, you still must market yourself, both in person and on the phone. Prepare to exude warmth, personality and have a "stage presence" Being enthusiastic about your business is catching. Your positive attitude and people skills are a must in the business arena.
So now you say, I can do this. I have the ENTREPRENEURIAL SPIRIT. But you must survive.
The top 10 tips on how to survive:
- Do research - Know your business and if it can be profitable.
- Exude confidence even when you are unsure - Be able to articulate about what you do. Speak in sound bytes.
- Be passionate - Your enthusiasm will be contagious.
- Be an acrobat - Be able to juggle and multitask. In one day you will be called upon to write reports, talk on the phone, market your business and invoice work already completed.
- Make sure your insurance and tax forms are handled by you, or someone else.
- Know how to delegate tasks, both in business and in your personal life. If a particular task is beyond your scope or desire, delegate it to an expert.
- Learn how to give yourself "free time" - We easily can fill up every minute of the day. Think of how you relax,
and DO IT.
- Have many networking contacts in all fields - Join a mentoring group, or a leads group.
- Join professional organizations - This is where you raise the bar for yourself. You will meet people more
successful than you, and you can emulate them.
- Have the right tools - Brochures, website, business cards, stationery are all your branding. Have the best you can afford, or a little better.
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