Have you left life as an employee and are setting up or developing your own company? Or simply just thinking about whether you have the courage and finances to do it?
What are the realities? Well my take on it after 7 years as an entrepreneur is this - it is like a roller coaster ride. There is the rush of freedom. Freedom from being told what to do. Freedom from endless emails, business politics and pressured deadlines. There is also the excitement of being able to do something that you are truly passionate about. However, also the nervousness about whether you are doing the right thing, creating the right thing, selling the right products, working with the right people. Can you earn the income that you earned before? Will other people buy what I have to offer? Even pressures of wondering 'what do my Mum and Dad think'.
The challenge in moving from one structure as an employee through to the responsibilities of business ownership can be immense. It initially feels very freeing, yet soon the need for cash flow and putting the systems in place so you can operate take over. Also, making the family proud, feeding them and not wishing to fail in front of your peers.
A strange phenomena when you move into self employment or set up a company with others is there are times when you wish you were that employee again. You see your peers in employment earning more money than you. While your peers often envy you as they think you are brave and have more freedom than they do. The grass often seems greener.
An important message that is really key to success and results in your new or developing business is to recognise the good in where you came from as there were structures that helped you to succeed. There were people and processes that were supporting you to deliver. You have to step by step build these into your new business so that it becomes robust.
I am a very strong advocate for designing an infrastructure that will help your business be robust. A platform that will help you to grow. One that supports your future success. This is one of the challenges because as you are doing these you are investing potential personal income into your business. That is one reason why your salary may not be at the same level as some of your peers and potentially for quite some time. However, you are building something for the future.
It has been said that it is better to have loved and lost than never to have loved at all. It is like that with a business. For me, if I hadn't have done this I would never have experienced it and always regretted it. I would have felt that I had not really lived and expressed myself fully. The knowledge you gain from the experience is invaluable.
I am writing this because I don't want to tell you something that it is not. You to have your eyes open. If you have been burnt you will know that already. Recently I spoke to someone who was giving up on his business. After 12 months he still had no customers. My highest spending customer took me 18 months from first conversation to turn into a client. Things do not always happen as quickly as you may imagine. In these situations you find out more about who you really are, your resolve, what you are good at and who you need to attract to help and advise you as you grow.
The realities of being an entrepreneur is that it is like a roller coaster ride. Sometimes you feel sick and want to get off. Other times it is the greatest thrill. It is not all a big rush though sometimes you will have periods when you have more time to think and reflect. Ultimately your success and fulfilment will be down to you and those that you attract into your business.
Taking advice and good advice is critical. Be careful who you listen too. Often people are trying to put out an impression that they are doing well when they are not. Take advice from those who have experience and are out there either doing what you want to do or have been where you are. This is one of the reasons why 'The Achiever Programme' is so successful. Being part of a group of like minded people who meet usually via tele-seminar twice a month is a great way of maintaining energy and keeping focused on the path ahead.
Good luck and if we can help you on your journey with some quality guidance and support then this is what we are here do.
Be More. Achieve More.
Chris
PS: Hang on tight!
