Let’s be honest, starting a business is a huge undertaking that requires a certain set of skills that some of us seem to have naturally, while others acquire through education and training. It’s important to know what type of person you are, and to be honest with yourself. Are you really ready to start your own business?
Starting a business is not as simple as filling out an application for a job as an employee. As an employee you are required to show up to your workplace, perform your daily tasks, and you generally leave for the day to live your life, after you clock out. As an employee, you are given a title, a salary, and a set of duties that you’re qualified to perform. Your main focus is to perform these duties to the satisfaction or your employer, your supervisor, or dare we say it, your boss. Often times you have limited control over what you do, when you do it, how you do it, and where. Despite these restrictions, having gainful employment can bring peace of mind and security to many people. But what do you do when you don’t like these restrictions, or you don’t like where you work? You can always seek to find another place of employment where you may feel more comfortable, or you can explore the world of entrepreneurship where you become the employer.
You are now the person in charge. The employer, the supervisor, and the boss.
As a business owner you are now the person accepting the application, and reviewing it for qualifications. You can start out alone and hire people as your business grows, or form a partnership with someone you trust. You’re now in charge of making sure all business paperwork and taxes are filed properly and on time (operations). Making sure your product or service is what the customer wants (product development). And deciding how to gain more customers to help build and grow your business (marketing and advertising). You’re either hiring someone to help you get these things done, or you’re doing them yourself. Either way, they have to get done, and as an entrepreneur you’re the person responsible for making sure they are.
What Is an Entrepreneur?
An entrepreneur is an individual who creates a new business, taking on most of the risks and enjoying most of the rewards. A more in-depth definition of an entrepreneur can be found at Investopedia.com.