The reality is quite different. We are constantly approached by people who have started their own business, only to walk away when they discover they do not enjoy the up’s and downs, they find it lonely, they were ill prepared for the sales/ business development they had to undertake or because the financial rewards did not quickly enough sustain their lifestyles.
This is not a failure because they tried and then decided on another course that worked for them, however getting good advice, asking yourself the right questions and really testing your drivers and how you will deliver value is something that should NOT be ignored.
Don’t get me wrong … I am a huge supporter of people who dare to start their own business and consider myself very entrepreneurial, however, often people make this leap without really weighing up what it means and digging deep to understand if you are prepared to do what it takes, every day!
Whilst this is the quintessential kiwi dream… this is not for everyone and should be carefully considered, asking yourself the following questions :
1. Why am I doing this?
Explore your core reason for being, your purpose and understand and research how you will solve real problems to create value.
Just wanting to run your own business is not enough and will not provide a successful roadmap or engagement with your desired customers.
2. Am I prepared to do what it takes?
Consider the fact that when you run your own business, the buck stops with you and you alone! This means that there will be times you need to be focused (regularly) on business development, you will need to put in whatever it takes to deliver and there is nowhere to hide. There will be highs and lows and Business was is cyclical so be prepared for this and understand what you need to do in the quieter periods to constantly assess, reflect and improve your business, your value and your profile.
Be aware -If you do not like business development/opening doors then do not start your own business because clients will want to see you walking the talk and want you to show up, regardless of whether you hire others to do this!
3. Am I am expert at what I do/ deliver and do I genuinely love it?
Whilst anyone can hire experts in their business, starting a business which you know nothing about is a recipe for disaster and provides far greater risk, particularly early on. If you are connected, understand your craft and are known for this, you will inspire and endear others who want to join and work with you and bring an edge to your business.
4. Do I have the right support, systems and partners to ensure I can focus on driving my business success?
Understanding where your time is most valuable and what parts of your business should be outsourced, automated and supported by others is essential.
Your time is valuable and spending this wisely every day for the best ROI and impact is critical to any businesses success. Don’t sweat the small stuff and don’t be afraid to outsource areas where consultants will add a fresh perspective, be more time-efficient and allow you to get on with more time with your customers and delivering real value! Make sure you surround yourself with smart and people that will challenge you and make you better as a result, whether they are in your business or external partners.
A final word of advice:
If you have asked yourself all of the above questions and you can envisage yourself working through these, finding solutions and defining how you will add true value then do not hesitate: Take a leap of faith and don’t have a plan B! (because then failure is not an option and the focus, determination and desire will fuel your success!)
Michelle & Wayne are Co-Directors and Founders of Fusion Partners, delivering consulting and recruitment services.
