Soul Searching of an Entrepreneur-Want-To-Be
Dear Friends & Neighbors,
(Please click on red links & note magenta)
It was quite valuable that the instructor, Prof. Thayer, started the course (How To Start Your Business) by spending time asking every one in the room to do some soul searching. Before going into the mechanics of starting a business, it is important for one to be clear and honest in answering these questions.
I. What do you want from self-employment , in terms of:
- Economic Goals: supplement or replace current earnings
- Personal Goals: freedom….career change….satisfaction….recognition….flexibility….responsibility….professional growth….benefits and security
- Retirement Goals: economic and personal goals may change pre- and post-retirement for some
- Keep in mind that entrepreneurship will not guarantee greater freedom, benefits and security, nor recognition, but it does require great amount of flexibility, responsibility, professional growth, resourcefulness, and time.
- Make sure that your personal goals are aligning with how and how much you spend your time.
II. Given that the essential qualities of any business owner are: strong work ethics, ability to multitask, being self-motivated, being resourceful, being persistent, being resilient, being decisive, good health, interpersonal skills, leadership ability, organizational skill, intelligence, management skills, business/industry experience, positive energy/optimism, and supportive family.
- Are you a self-starter?
- How well do you get along with different personalities?
- How good and decisive are you in making decisions?
- Do you have the physical and emotional stamina to run a business?
- How well do you plan and organize?
- Is your personal drive sufficiently strong?
- How will the business affect your family?
III. Be aware of the responsibilities of a small business owner
- Tax collector
- Sales/Marketing/Advertising executive
- Business planner
- Bill collector
- Market research
- Technology expert
A small business owner essentially has to become some one who can wear many hats. I would like to add that many of the above mentioned qualities, responsibilities, or know how can be learned.
IV. Do you have the Determination, Knowledge/Know how/Experience, Money/Credit ?
- Keep in mind that much can be learned if one has the determination
V. Getting help from BLAIM: Banker, Lawyer, Accountant, Insurance Agent, Mentor
- One may find help from the Small Business Resource Network at: SBRN.org
- One may also find help from the Florida Small Business Development Center: floridasbdc.org
- NEC (National Entrepreneur Center) of Orlando, Florida, at 3201 E. Colonial Dr., Suite A-20, Orlando, FL 32803, 407-420-4848 is a valuable resource for Floridians who are contemplating entrepreneurship
- It is recommended that one develops a relationship with one’s local community bank or credit union for effective longterm financial health of one’s business
- Keep in mind that at Windermere Sun, we do have a policy of helping our community by an initial complimentary Post-and-Push for Floridian businesses (Central Floridian businesses have priority) that would also help community residents to reach a healthier, happier, and sustainable living. If your business fits this description and you’d like to have a presence at Windermere Sun, please contact me via [email protected] or 407-782-7501.
There are some common traits in starting a business, regardless which country one comes from. Below, you will find some truths in businesses from many different parts of the world:
~Let’s Help One Another~
Any comments, suggestions, concerns regarding this post will be welcomed at [email protected]
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