“The entrepreneur builds an enterprise; the technician builds a job.” Michael E. Gerber (American author and founder of E-Myth Worldwide)
A good friend is director of a multinational hotel that has been sold and is agonizing over starting up her own business or waiting for another hotel. With excellent training and experience, a large network of contacts and no financial constraints what is holding her back?
The main problem seems to be fear of starting something new. It is a lot different from an established business where there are staff, contacts and contracts in place for all of the varied tasks required for the day to day running of the enterprise. There is nearly always someone to fall back on for advice or assistance in difficult situations.
So why start your own business?
The first reason that comes to mind is being ones’ own boss – having the freedom to do the things the way you want and take all the credit for their success.
Then linked with this is the chance to build something that is yours, especially significant after having put your heart into working for a multinational that has decided on a change of course.
Then it is having the freedom to work when you want, without a constraining boss who doesn’t understand the concept of ‘flexible hours’ or the creative power of a walk on the beach or through the woods.
What is the catch? Why do most of the businesses fail in the first 2-3 years?
It would really be wonderful if we could turn our ideas into businesses quickly and easily, but that is seldom the way things happen.
It takes time, planning, money and enthusiasm (not to mention blood, sweat and tears) to get an enterprise going.
Depending on your background you may need help especially from experienced financial, marketing and sales people – someone who has already been through the process and that will save you time and a lot of money. You can avoid making the mistakes they have already made and be guided in finding the strategy, systems and procedures that best apply to your vision.
A business coach will get you to think through your priorities, check your self motivation and get you into action. There is an advantage over a mentor in that it is your business so you will be more enthusiastic to put your ideas into effect than those of someone else.
A Business Angel or a Venture Capital organization may be required for more costly undertakings.
Finally there is the “sense of contribution”! It is more than contributing to the national economy, paying taxes and creating employment.
The strongest motivating factor should be that you are performing a unique service of exceptional quality that really brings benefit to others. A modern, well organized company that makes profits, can also significantly impact social causes and bring some relief to those really in need.
