Three Paths to Entrepreneurial Bliss
By Donna Fenn | May 3, 2010
What makes for a blissfully happy business owner? Soaring revenues, hefty profits, and fabulous cash flow? Guess again. Srikumar Rao, author of Happiness atWork: Be Resilient, Motivated, and Successful - No Matter What (McGraw-Hill, 2010), has an entirely different perspective on success and happiness. He is probably best know for his course “Creativity and Personal Mastery“, which he has taught at Columbia Business School, and several other prestigious universities. The course is so popular and transformative that it even has its own alumni association. I recently spoke with Rao (who is one part management guru, one part philosopher, and one part swami) and asked him how his ideas might apply to entrepreneurs. Courtesy of Rao, here’s your road map to entrepreneurial bliss:
Invest in the success of your team. “No entrepreneur is ever going to succeed individually,” says Rao. “He or she has to work through a team - the customers, vendors, and other people who support what they’re doing.” But entrepreneurs have a habit of viewing people as “mechanisms” to help them achieve their goals and, says Rao, “in a subtle way it demeans the relationship.” Instead, he suggests “entrepreneurs should think ‘is there anything I can do to help that person do the best he or she is capable of doing as a human being?’ If they can stat thinking along those lines, it makes them tremendously more efficient as managers. If you want success, help everyone reach their highest potential, and your own success will be a by-product and come effortlessly.”
Emphasize process, not outcome. “Entrepreneurs all think in terms of the “if-then” model,” Rao notes. The brass ring might be a revenue goal, landing a big customer, or having enough cash to move into new offices. The trouble with focusing on outcomes, says Rao, is that they are totally beyond your control. “The point is that even if you do achieve your goals, wonderful things may or may not happen,” he says. And those wonderful things will always be replaced by something else you think you need - like an even bigger office and more customers. “But you’re not going to enjoy the journey,” cautions Rao, and that’s the one thing you can control. His advice: “Focus on outcomes only to the extent that it gives you direction. Then forget about outcomes and focus on the process.”
Be mission-focused, not me-focused. Entrepreneurs who live in a “me-focused” universe fall into the trap of evaluating everything in terms of its immediate impact on them, says Rao. If a major customer has a problem and cancels an order, or a key employee suddenly quits, it helps enormously to remind yourself of your company’s larger mission. “You need to start thinking in terms of the value that you are delivering to the world, and that has to be more important than what you want from an ego standpoint,” says Rao. “If you define what you do in functional terms, you are either burnt out or you will be burnt out soon,” he warns. And everyone, from garbage collectors to stockbrokers, can articulate a way in which they somehow make the world better. Focus on that larger mission, says Rao, and in tough times “forces that you can’t image come to your rescue. And your employees become much more engaged.”
Do Srikumar Rao’s concepts strike a chord with you? Tell us about your own path to entrepreneurial bliss.
MY THOUGHTS
You don't need to have your own business to be thinking along these lines. Successful managers/leaders are those who have the entrepreneurial spirit. These tips will work for you even if you're working for someone else.
BTW, if you're wondering what a SWAMI is, click this link - http://dictionary.reference.com/browse/swami
Tuesday, April 12, 2011
Friday, April 8, 2011
BE PRODUCTIVE AT HOME
Home Office: 9 Smart Ways to Be More Productive
By Amy Levin-Epstein | Mar 21, 2011
http://moneywatch.bnet.com/career-advice/blog/on-job/home-office-9-smart-ways-to-be-more-productive/395/?tag=content;col1
Whether you’re self-employed or telecommuting, an efficient home office is critical. At the very least, designate a room (or at least a specific section of a quiet room) in your home for work. Because if you’re working in your bedroom, you’ll be thinking about the next day’s tasks while you’re trying to sleep — basically, an insomniac’s nightmare. And if you’re working in the kitchen, you’ll be reviewing the contents of the refrigerator rather than what’s on today’s agenda.
For my own home office, I’ve invested in a good laptop (backed up with Backblaze), a solid all-in-one printer and a landline, so I never suffer with static and I can record interviews. Of course, your own priorities might be different.
I asked some self-employed folks for their finest tips, and these were nine of the best. Do you have any to add?
1. Take Advantage of Technology
“I have found that the use of cloud computing resources for my home office and business is helpful. The tools [I use most] are: Evernote for keeping track of information, Manymoon for project management (links with my Google apps), Google apps like Google Documents, Google Calendar, Google Voice, Nudgemail (to keep track of To Do items that need consistent follow up), Free CRM (the most malleable customer relationship management tool on the web) and Mailchimp (for newsletters and email blasts).”
– E. Allen Knight, Ann Arbor, Mich., consultant, small business owner and professor
2. Block Out Distractions
“Buy some heavy blinds or drapes to block out sun, heat, cold and noise. If it’s a nice day outside, you can close the blinds, and you’ll be more likely to stay inside and work! Plus, it’s a great way to block outside noise from neighbors, traffic and gardeners.”
– Melanie Rembrandt, owner of Rembrandt Communications in Redondo Beach, Calif.
3. Get Good Furniture
“The biggest mistake home office workers make is buying particle board furniture from the office supply store. Search out office furniture stores instead. Real office furniture is made for work. [That could mean] a keyboard tray that’s wide enough for a keyboard and a mouse or an office chair meant for supporting you for eight or more hours, not the occasional hour or two on the weekend.”
– Kathryn Weber, freelance writer and publisher of the Red Lotus Letter E-Zine, Austin, Texas
4. Prepare Your Pets
“If you are planning an important phone interview or phone conference and you own a dog like I do, try to make arrangements to have the dog outside or in another room and shut your office door. An unexpected UPS or Fedex delivery can set the dog to barking and interrupt that call.”
– Christel K. Hall of ProWrite Public Relations, Minden, Nev.
5. Protect Your Privacy
“Keeping your business life separate from home life is not just sanity saving (a client won’t walk in on you doing aerobics to Donna Summer), but a safety concern, especially if you work online. Make sure you use a business postal address, and be careful about where you post your personal information.”
– Sarah Clachar, Healthy Marketing Ideas, Rochester, N.H.
6. Invest in a Separate Office Phone
“One of the first thing I realized that I needed to do was get a separate number for my office so that my son, who was then 5 years old, did not pick up the phone when reporters called. I still keep my line in my office as I prefer to receive calls from clients and reporters on my business line rather than my cell phone. That way I can let it go directly to voice mail if it rings after hours or on weekends.”
– Julie Phillippi-Whitney, owner, Phillippi-Whitney Communications, Cincinnati, Ohio
7. Keep Regular Hours
“Set work hours and stick to them. Do nothing but work during that time, as you would with an office job. Then when the time is up, stay away from the computer!”
– Margelit Hoffman, social media manager and strategist, Allentown, Pa.
8. Pack a Snack
“I’ve learned to always keep snacks at my desk, usually healthy ones like nuts, a granola bar, or brown rice cakes (sometimes chocolate sneaks in, too!). It’s easier for me to stay focused on work if I’m not wandering down into the main part of the house when I get hungry.”
– Susanne M. Alexander, president of Marriage Transformation LLC, Cleveland, Ohio
9. Focus on Feng Shui
“Make sure you can see the door from the place where you sit. If this is not possible, strategically position a mirror so that you can see behind you. Because we, as a species, like to feel “in the know” about our environments, this will make you feel safer and therefore more grounded, focused, and empowered.”
– Tess Whitehurst, feng shui consultant and author of Magical Housekeeping, Los Angeles, California
Got more tips for building a better home office? Please sign in below and share your thoughts. And for more career advice, follow @MWOnTheJob on Twitter.
MY THOUGHTS
It's a home office. You are literally at work. You merely changed location. The biggest challenge would be separating your business from your personal life. Especially if you're just starting. Kids (and the rest of the family, for that matter) will naturally assume that you're on vacation since you're at home.
By Amy Levin-Epstein | Mar 21, 2011
http://moneywatch.bnet.com/career-advice/blog/on-job/home-office-9-smart-ways-to-be-more-productive/395/?tag=content;col1
Whether you’re self-employed or telecommuting, an efficient home office is critical. At the very least, designate a room (or at least a specific section of a quiet room) in your home for work. Because if you’re working in your bedroom, you’ll be thinking about the next day’s tasks while you’re trying to sleep — basically, an insomniac’s nightmare. And if you’re working in the kitchen, you’ll be reviewing the contents of the refrigerator rather than what’s on today’s agenda.
For my own home office, I’ve invested in a good laptop (backed up with Backblaze), a solid all-in-one printer and a landline, so I never suffer with static and I can record interviews. Of course, your own priorities might be different.
I asked some self-employed folks for their finest tips, and these were nine of the best. Do you have any to add?
1. Take Advantage of Technology
“I have found that the use of cloud computing resources for my home office and business is helpful. The tools [I use most] are: Evernote for keeping track of information, Manymoon for project management (links with my Google apps), Google apps like Google Documents, Google Calendar, Google Voice, Nudgemail (to keep track of To Do items that need consistent follow up), Free CRM (the most malleable customer relationship management tool on the web) and Mailchimp (for newsletters and email blasts).”
– E. Allen Knight, Ann Arbor, Mich., consultant, small business owner and professor
2. Block Out Distractions
“Buy some heavy blinds or drapes to block out sun, heat, cold and noise. If it’s a nice day outside, you can close the blinds, and you’ll be more likely to stay inside and work! Plus, it’s a great way to block outside noise from neighbors, traffic and gardeners.”
– Melanie Rembrandt, owner of Rembrandt Communications in Redondo Beach, Calif.
3. Get Good Furniture
“The biggest mistake home office workers make is buying particle board furniture from the office supply store. Search out office furniture stores instead. Real office furniture is made for work. [That could mean] a keyboard tray that’s wide enough for a keyboard and a mouse or an office chair meant for supporting you for eight or more hours, not the occasional hour or two on the weekend.”
– Kathryn Weber, freelance writer and publisher of the Red Lotus Letter E-Zine, Austin, Texas
4. Prepare Your Pets
“If you are planning an important phone interview or phone conference and you own a dog like I do, try to make arrangements to have the dog outside or in another room and shut your office door. An unexpected UPS or Fedex delivery can set the dog to barking and interrupt that call.”
– Christel K. Hall of ProWrite Public Relations, Minden, Nev.
5. Protect Your Privacy
“Keeping your business life separate from home life is not just sanity saving (a client won’t walk in on you doing aerobics to Donna Summer), but a safety concern, especially if you work online. Make sure you use a business postal address, and be careful about where you post your personal information.”
– Sarah Clachar, Healthy Marketing Ideas, Rochester, N.H.
6. Invest in a Separate Office Phone
“One of the first thing I realized that I needed to do was get a separate number for my office so that my son, who was then 5 years old, did not pick up the phone when reporters called. I still keep my line in my office as I prefer to receive calls from clients and reporters on my business line rather than my cell phone. That way I can let it go directly to voice mail if it rings after hours or on weekends.”
– Julie Phillippi-Whitney, owner, Phillippi-Whitney Communications, Cincinnati, Ohio
7. Keep Regular Hours
“Set work hours and stick to them. Do nothing but work during that time, as you would with an office job. Then when the time is up, stay away from the computer!”
– Margelit Hoffman, social media manager and strategist, Allentown, Pa.
8. Pack a Snack
“I’ve learned to always keep snacks at my desk, usually healthy ones like nuts, a granola bar, or brown rice cakes (sometimes chocolate sneaks in, too!). It’s easier for me to stay focused on work if I’m not wandering down into the main part of the house when I get hungry.”
– Susanne M. Alexander, president of Marriage Transformation LLC, Cleveland, Ohio
9. Focus on Feng Shui
“Make sure you can see the door from the place where you sit. If this is not possible, strategically position a mirror so that you can see behind you. Because we, as a species, like to feel “in the know” about our environments, this will make you feel safer and therefore more grounded, focused, and empowered.”
– Tess Whitehurst, feng shui consultant and author of Magical Housekeeping, Los Angeles, California
Got more tips for building a better home office? Please sign in below and share your thoughts. And for more career advice, follow @MWOnTheJob on Twitter.
MY THOUGHTS
It's a home office. You are literally at work. You merely changed location. The biggest challenge would be separating your business from your personal life. Especially if you're just starting. Kids (and the rest of the family, for that matter) will naturally assume that you're on vacation since you're at home.
PRICELESS BUSINESS LESSONS
6 Priceless Business Lessons
By Steve Tobak | August 25, 2010
You learn how to learn in school. You learn how to do a job at work. And if you work hard and groom yourself well, you may eventually learn how a business operates in an industry. But once in a blue moon, through experience, you pick up one of those lessons that nobody can teach you. Those hard to come by lessons are truly priceless.
Last week, in 5 Business Books That Made a Difference, I mentioned Mark McCormack’s What They Don’t Teach You at Harvard Business School. That inspired me to share a few big lessons I’ve learned over the years. Each one figured prominently in my success:
If you want to gain management cred, tell folks what you’re going to do and then do it. Having the guts to stick your neck out and take a big risk, then executing and delivering on the promise, has management written all over it. It works both internally and externally. Broadcasting an aggressive goal and then achieving it is far more effective than just doing it. Just make sure you pull it off. Sure, it’s a risk, but no risk, no reward, right?
If you’re way behind on a hot deadline, take some time to relax and chill out. First, you’ll think more clearly and be more productive going down the stretch. Second, there’s a reason why you’re behind to begin with and that pause may provide just the right inspiration or perspective you needed all along. Third, in case you need anyone to help you, nobody likes working with a stress monster.
If you want something badly, consider what would happen if you don’t get it. The earth will continue to turn and your life won’t end. In fact, nothing will happen, except that you’ll lighten your load, reduce your expectations, and in so doing, actually increase your chances of getting what you want. It’s the whole “if you want something let it go” thing. It really works.
If you want to be calm during an important presentation, stress-out beforehand. When you stress yourself it raises your blood pressure and your arteries widen to account for the change. Afterwards, when your body returns to normal, you feel a physical sense of calm that lasts a pretty long time. It’s the same reason you feel relaxed after getting out of a hot tub or a sauna. I noticed this empirically; a doctor I know added the explanation.
If you want to get support for a groundbreaking product or program, lose the big pitch. Grassroots efforts sell new ideas far more effectively than mass-market approaches. It works internally or externally. Get support from key stakeholders one-on-one rather than attempt to take on the world and sway everyone all at once. Pretty sure that was inspired by Geoffrey Moore’s Crossing the Chasm.
If you want someone to talk, shut up. Whether it’s a customer, an employee, your boss, whoever, set the stage by stating your purpose and then shut up. In general, people like to talk and that’s exactly what they’ll do, probably telling you far more than if you’d tried to drag it out of them bit by bit. If the person is unusually guarded, then give a little to get a little. Ask leading questions and listen actively, of course.
Okay, I shared a few of my secret lessons, now it’s your turn. Think hard and help teach your fellow The Corner Office readers.
MY THOUGHTS
From these tips, I find that shutting up is the best. Shutting up means giving others the chance to talk. And yourself the time to listen. By listening, you learn more about everything. But don;t jus sit there like dumbly nodding your head. You're supposed to listen well and ask smart questions.
By Steve Tobak | August 25, 2010
You learn how to learn in school. You learn how to do a job at work. And if you work hard and groom yourself well, you may eventually learn how a business operates in an industry. But once in a blue moon, through experience, you pick up one of those lessons that nobody can teach you. Those hard to come by lessons are truly priceless.
Last week, in 5 Business Books That Made a Difference, I mentioned Mark McCormack’s What They Don’t Teach You at Harvard Business School. That inspired me to share a few big lessons I’ve learned over the years. Each one figured prominently in my success:
If you want to gain management cred, tell folks what you’re going to do and then do it. Having the guts to stick your neck out and take a big risk, then executing and delivering on the promise, has management written all over it. It works both internally and externally. Broadcasting an aggressive goal and then achieving it is far more effective than just doing it. Just make sure you pull it off. Sure, it’s a risk, but no risk, no reward, right?
If you’re way behind on a hot deadline, take some time to relax and chill out. First, you’ll think more clearly and be more productive going down the stretch. Second, there’s a reason why you’re behind to begin with and that pause may provide just the right inspiration or perspective you needed all along. Third, in case you need anyone to help you, nobody likes working with a stress monster.
If you want something badly, consider what would happen if you don’t get it. The earth will continue to turn and your life won’t end. In fact, nothing will happen, except that you’ll lighten your load, reduce your expectations, and in so doing, actually increase your chances of getting what you want. It’s the whole “if you want something let it go” thing. It really works.
If you want to be calm during an important presentation, stress-out beforehand. When you stress yourself it raises your blood pressure and your arteries widen to account for the change. Afterwards, when your body returns to normal, you feel a physical sense of calm that lasts a pretty long time. It’s the same reason you feel relaxed after getting out of a hot tub or a sauna. I noticed this empirically; a doctor I know added the explanation.
If you want to get support for a groundbreaking product or program, lose the big pitch. Grassroots efforts sell new ideas far more effectively than mass-market approaches. It works internally or externally. Get support from key stakeholders one-on-one rather than attempt to take on the world and sway everyone all at once. Pretty sure that was inspired by Geoffrey Moore’s Crossing the Chasm.
If you want someone to talk, shut up. Whether it’s a customer, an employee, your boss, whoever, set the stage by stating your purpose and then shut up. In general, people like to talk and that’s exactly what they’ll do, probably telling you far more than if you’d tried to drag it out of them bit by bit. If the person is unusually guarded, then give a little to get a little. Ask leading questions and listen actively, of course.
Okay, I shared a few of my secret lessons, now it’s your turn. Think hard and help teach your fellow The Corner Office readers.
MY THOUGHTS
From these tips, I find that shutting up is the best. Shutting up means giving others the chance to talk. And yourself the time to listen. By listening, you learn more about everything. But don;t jus sit there like dumbly nodding your head. You're supposed to listen well and ask smart questions.
Saturday, February 19, 2011
Starting a Business? FIND AN ANGEL
STARTING A BUSINESS? FIND AN ANGEL
from the article 'Advice for Budding Entrepreneurs'
By Steve Tobak | February 11, 2011
Find an angel.
The whole mentor and coach thing has become so overblown that - I know this is going to piss a lot of people off, but - I wouldn’t go that route. Instead, find an angel investor who’s willing to provide seed funding for minority ownership. Why? Two reasons:
1) Objective feedback and validation from a professional investor, another pair of eyes, is huge, and
2) to help you navigate the business stuff that isn’t your forte.
MY THOUGHTS
why would i open a business that is not my forte? opening a business is hard enough. opening a business you know very little about is suicide.
from the article 'Advice for Budding Entrepreneurs'
By Steve Tobak | February 11, 2011
Find an angel.
The whole mentor and coach thing has become so overblown that - I know this is going to piss a lot of people off, but - I wouldn’t go that route. Instead, find an angel investor who’s willing to provide seed funding for minority ownership. Why? Two reasons:
1) Objective feedback and validation from a professional investor, another pair of eyes, is huge, and
2) to help you navigate the business stuff that isn’t your forte.
MY THOUGHTS
why would i open a business that is not my forte? opening a business is hard enough. opening a business you know very little about is suicide.
Friday, February 18, 2011
Get a Partner Before Staring a Business
Before starting a Business: GET A PARTNER
from the article "Advice for Budding Entrepreneurs"
By Steve Tobak | February 11, 2011
Get a partner
Just about every successful start-up - Silicon Valley or otherwise - has cofounders. Apple, Microsoft, Intel, Google, Hewlett-Packard - it’s a long, long list. Don’t get me wrong; having a partner is often difficult and they don’t always work out. But the benefits of having someone to bounce ideas off and a two-person support system far outweigh the negatives. And partners have a high level of credibility with entrepreneurs.
MY THOUGHTS
starting a new business, especially your first, is not the time to go alone. there's a lot of conceptualizing, planning, brainstorming involved. do you really think you can brainstorm with yourself? as far as i know - all of us - we only have 1 brain!!!
from the article "Advice for Budding Entrepreneurs"
By Steve Tobak | February 11, 2011
Get a partner
Just about every successful start-up - Silicon Valley or otherwise - has cofounders. Apple, Microsoft, Intel, Google, Hewlett-Packard - it’s a long, long list. Don’t get me wrong; having a partner is often difficult and they don’t always work out. But the benefits of having someone to bounce ideas off and a two-person support system far outweigh the negatives. And partners have a high level of credibility with entrepreneurs.
MY THOUGHTS
starting a new business, especially your first, is not the time to go alone. there's a lot of conceptualizing, planning, brainstorming involved. do you really think you can brainstorm with yourself? as far as i know - all of us - we only have 1 brain!!!
Thursday, February 17, 2011
ADVICE FOR BUDDING ENTREPRENEURS
WHAT OWNERS OF BUSINESS START-UPS SHOULD DO
from the article "Advice for Budding Entrepreneurs"
By Steve Tobak | February 11, 2011
If you’ve got your own company or are planning on starting one, there is one thing I can tell you with absolute certainty. There will be times when you think, what the hell have I done? I can’t do this!
Fortunately, in all likelihood, you’ll be wrong. But who in the world is going to tell you that, with authority, when the time comes? More to the point, who will you believe?
The funny thing about entrepreneurs is that they tend to be skeptics who don’t easily trust others. They generally keep their own counsel. So who are they going to believe, their own inner voice, or their friend or spouse who, by the way, sort of has to say, “Don’t worry; you can do it!”
You see, we overachieving, success-minded people are our own worst enemy. We’re notorious victims of self-doubt, anxiety, and self-limiting behavior that, all-too-often, results in shooting ourselves in the foot … or somewhere even worse.
For enterprising people, the whole idea of finding a mentor, a partner, or like-minded people for support and to bounce ideas around is a complex issue that represents a critical factor in their ultimate success or failure. And since I’ve got a few decades of experience with this sort of thing, here’s some …
Advice for Budding Entrepreneurs
* Get a partner
* Find an angel
* Have a sponsor
* Maintain balance
* Take baby steps
MY THOUGHTS
from what i've seen, entrepreneurs (the serious ones) spend more time working than those who work in an office. if you've just started a business or thinking of starting one,i will post the short explanations to to the 5 points in this article. wait for it.
from the article "Advice for Budding Entrepreneurs"
By Steve Tobak | February 11, 2011
If you’ve got your own company or are planning on starting one, there is one thing I can tell you with absolute certainty. There will be times when you think, what the hell have I done? I can’t do this!
Fortunately, in all likelihood, you’ll be wrong. But who in the world is going to tell you that, with authority, when the time comes? More to the point, who will you believe?
The funny thing about entrepreneurs is that they tend to be skeptics who don’t easily trust others. They generally keep their own counsel. So who are they going to believe, their own inner voice, or their friend or spouse who, by the way, sort of has to say, “Don’t worry; you can do it!”
You see, we overachieving, success-minded people are our own worst enemy. We’re notorious victims of self-doubt, anxiety, and self-limiting behavior that, all-too-often, results in shooting ourselves in the foot … or somewhere even worse.
For enterprising people, the whole idea of finding a mentor, a partner, or like-minded people for support and to bounce ideas around is a complex issue that represents a critical factor in their ultimate success or failure. And since I’ve got a few decades of experience with this sort of thing, here’s some …
Advice for Budding Entrepreneurs
* Get a partner
* Find an angel
* Have a sponsor
* Maintain balance
* Take baby steps
MY THOUGHTS
from what i've seen, entrepreneurs (the serious ones) spend more time working than those who work in an office. if you've just started a business or thinking of starting one,i will post the short explanations to to the 5 points in this article. wait for it.
Tuesday, February 8, 2011
DO YOU HAVE WHAT IT TAKES TO BE AN ENTREPRENEUR
Why You Shouldn't Become an Entrepreneur
By Steve Tobak | October 27, 2010
http://www.bnet.com/blog/ceo/why-you-shouldnt-become-an-entrepreneur/5895?tag=content;drawer-container
How many of us dream of being a big-shot CEO with all the pay and perks that go with the corner office? Or better still, starting and running our own company. Wouldn’t that be sweet?
Well, I hate to burst your dream bubble, but being an entrepreneur isn’t all it’s cracked up to be. Sure, if you’re cut out for it, maybe you’ll survive the pressure and overcome the many challenges. But if you’re not, and most of us aren’t, I wouldn’t quit my day job just yet.
Before we get into all those aforementioned challenges, I’d be remiss if I didn’t at least pay homage to the perceived benefits of becoming an entrepreneur:
* Being your own boss and not having to kowtow to anyone;
* Doing what you want, when you want;
* Escape from the stress of corporate life;
* A shorter and more personal feedback loop; and
* The unique fulfillment that comes from building something from the ground up, more or less on your own.
So what’s not to like about that, right? Well, I used the term “perceived benefits” for a very good reason. The truth is that entrepreneurial life is nothing like any of that. In fact, all those benefits are, to a great extent, myths. Let’s take them one at a time.
5 Myths About Becoming an Entrepreneur
1. Being your own boss and not having to kowtow to anyone. There’s no shortage of bosses and people you have to kowtow to when you’re an entrepreneur. Depending on your situation, there are investors, customers, partners, and here’s one that nobody ever anticipates, your spouse. That’s right, once the steady paychecks stop, the spouse becomes all-too-engaged.
2. Doing what you want, when you want. Sure, you may get to keep your own hours, more or less, but even that changes soon enough. If you’re successful, you’ve got to keep up with business, and if you’re not, you’ve got to work that much harder to change that. And since it’s your gig, there’s no fallback position. If you don’t do it, who will?
3. Escape from the stress of corporate life. Here’s a little secret: we make our own workplace stress. In other words, we take it with us wherever we go. That’s what surprised me the most about going it alone. Sure, there are always workplace specific stresses and headaches, but you’re just trading the corporate ones for those of an entrepreneur. They’re different, but not necessarily better or worse.
4. A shorter and more personal feedback loop. Actually, it’s just the opposite. At work you’re presumably getting feedback on a pretty regular basis. There are projects, tasks, and all that good stuff. But the gestation time for a startup business is relatively long. You very quickly come to realize that nothing much matters until the dough starts rolling in, and that could be a very long time. Okay, it is personal, but that’s both good and bad. How well do you handle rejection?
5. The unique fulfillment that comes from building something from the ground up. Yes, it’s different, but honestly, the sense of accomplishment is really no better or worse than what you get from doing the same thing at someone else’s company, whether it’s building a team, developing a product, or servicing customers.
As a wise VC once said, “there are entrepreneurs and there are Entrepreneurs!” Don’t get me wrong. If there’s something burning inside you; something you feel like you’ve got to do or you’ll burst; and you’re resilient, thick skinned, the sort of person who carves his own path; then go for it. You won’t be disappointed. But you’ll also be better off if you keep your expectations grounded somewhere in the realm of reality.
MY THOUGHTS
what this article is saying is that getting into a business may not be for everybody. just like any other position, an entrepreneur has its own list of tasks and therefore has its own list of qualifications. better assess yourself first against those requirements. in other words, if you want to be an entrepreneur, hire yourself first. if you find that you're not qualified, don't give up. training yourself may do the trick.
By Steve Tobak | October 27, 2010
http://www.bnet.com/blog/ceo/why-you-shouldnt-become-an-entrepreneur/5895?tag=content;drawer-container
How many of us dream of being a big-shot CEO with all the pay and perks that go with the corner office? Or better still, starting and running our own company. Wouldn’t that be sweet?
Well, I hate to burst your dream bubble, but being an entrepreneur isn’t all it’s cracked up to be. Sure, if you’re cut out for it, maybe you’ll survive the pressure and overcome the many challenges. But if you’re not, and most of us aren’t, I wouldn’t quit my day job just yet.
Before we get into all those aforementioned challenges, I’d be remiss if I didn’t at least pay homage to the perceived benefits of becoming an entrepreneur:
* Being your own boss and not having to kowtow to anyone;
* Doing what you want, when you want;
* Escape from the stress of corporate life;
* A shorter and more personal feedback loop; and
* The unique fulfillment that comes from building something from the ground up, more or less on your own.
So what’s not to like about that, right? Well, I used the term “perceived benefits” for a very good reason. The truth is that entrepreneurial life is nothing like any of that. In fact, all those benefits are, to a great extent, myths. Let’s take them one at a time.
5 Myths About Becoming an Entrepreneur
1. Being your own boss and not having to kowtow to anyone. There’s no shortage of bosses and people you have to kowtow to when you’re an entrepreneur. Depending on your situation, there are investors, customers, partners, and here’s one that nobody ever anticipates, your spouse. That’s right, once the steady paychecks stop, the spouse becomes all-too-engaged.
2. Doing what you want, when you want. Sure, you may get to keep your own hours, more or less, but even that changes soon enough. If you’re successful, you’ve got to keep up with business, and if you’re not, you’ve got to work that much harder to change that. And since it’s your gig, there’s no fallback position. If you don’t do it, who will?
3. Escape from the stress of corporate life. Here’s a little secret: we make our own workplace stress. In other words, we take it with us wherever we go. That’s what surprised me the most about going it alone. Sure, there are always workplace specific stresses and headaches, but you’re just trading the corporate ones for those of an entrepreneur. They’re different, but not necessarily better or worse.
4. A shorter and more personal feedback loop. Actually, it’s just the opposite. At work you’re presumably getting feedback on a pretty regular basis. There are projects, tasks, and all that good stuff. But the gestation time for a startup business is relatively long. You very quickly come to realize that nothing much matters until the dough starts rolling in, and that could be a very long time. Okay, it is personal, but that’s both good and bad. How well do you handle rejection?
5. The unique fulfillment that comes from building something from the ground up. Yes, it’s different, but honestly, the sense of accomplishment is really no better or worse than what you get from doing the same thing at someone else’s company, whether it’s building a team, developing a product, or servicing customers.
As a wise VC once said, “there are entrepreneurs and there are Entrepreneurs!” Don’t get me wrong. If there’s something burning inside you; something you feel like you’ve got to do or you’ll burst; and you’re resilient, thick skinned, the sort of person who carves his own path; then go for it. You won’t be disappointed. But you’ll also be better off if you keep your expectations grounded somewhere in the realm of reality.
MY THOUGHTS
what this article is saying is that getting into a business may not be for everybody. just like any other position, an entrepreneur has its own list of tasks and therefore has its own list of qualifications. better assess yourself first against those requirements. in other words, if you want to be an entrepreneur, hire yourself first. if you find that you're not qualified, don't give up. training yourself may do the trick.
Subscribe to:
Posts (Atom)