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Sick of Working for Other People? Are You Wired to Be an Entrepreneur?

Sick of Working for Other People? Are You Wired to Be an Entrepreneur?
From Recruiter - October 10, 2016

Your boss is a jerkand thats putting it nicely. Your commute sucks. That 2percentannual raise feels more like an insult than a reward.

In other words, youre getting fed up with being an employee, and youre starting to wonder whether it might make sense to strike outon your own and start your own company. Be your own boss. Call the shots. Become the master of your own destiny!

The freedom of ditching yourworkaday job, becoming an entrepreneur,running your own company is a pretty sexy lure. In 2015, I made the transition myself from corporate recruiter to running a resume writing and career coaching business. Its been fun, exciting, and rewarding.

But its still a job, which means that theres still work to be done. At the end of the day, the goal is to provide value to customersand translate that into a paycheck.

If youre thinking about making the transition from employee to self-employed, its important to approach your decisionas a career move. Whether you realize it or not, thats exactly what becoming an entrepreneur is: a career move in which youare the potential employer.

Here are some factors to considerbefore taking the plunge into entrepreneurship:

The Positives:

1. Flexibility

You call the shots. Rather spend the day playing tiddlywinks or swigging Guinness? No problem. You dont even need to call in sick while faking a hacking coughjust take the day off.

2. Control

Its up to you to make your own business decisions. Want to spend money on advertising? Prefer to charge more or less for your products? Go for it. No need to run a concept up the flagpole, socialize your idea, or gain acceptance for your initiative in the workplace. Its all you, dude.

3. Youll see your accomplishments in black and white (or black and red)

When youre anentrepreneur, any deal you close is the result of your own efforts. How youre doing in operating your business is as clear as looking at your gross and and net revenues.

The Negatives:

Okay, lets be politically correct and call them Challenges:

1. There are very few boundaries

As an entrepreneur, you need to be available to provide services to your clients when they are available. If you are running a B2B business, this may be a bit easier since your clients might generally operate Monday through Friday from 9 AM to 5 PM. But if you service businesses thatoperate 24/7, or if your target clientele is individual consumers, you need to be available when they are. This may mean evenings or weekends.

2. Uneven workflow

See the boundaries bullet above; this is its kissing cousin. Clients are usually either lining up to hand you their money, or its like a ghost town and the phone isnt ringing. When the rushes occur, its all about making time to take on those clients who may walk away (with their money) if you dont provide them service. Working evenings and weekends is pretty common when theres a need to stay on top of work, much less try to get ahead.

3. You dont just have one boss

Its true that you dont have a manager anymore, but every client you take on expects to be listened to and satisfied. Not everybody will be happy with your work the first time (or any time) around, so you will need to work that much harder to meet or exceed their expectations. Keep in mind, clients who love you will provide you with repeat business and referrals; clients who hate you will (at best) fume in silence or (at worst) tell the world they wish you a hot death.

4. Good luck with budgeting

Even the best business firingon all cylinders has both good months and lean months. Sometimes the issue is not enough new business coming in; other times its trouble collecting from your existing clientele. I personally have found it challenging to allocate consistently for retirement and savings due to the inherent variabilityeven with the most conservative personal budget.

5. Its all on you

Unless you can afford to pay staff or service providers to help you with your work, you will need to find a way to get it alldone yourself. Administrative, strategic, marketingyou name it, its your responsibility.



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