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PWCC Blog: Can You Be an Entrepreneur?

Posted By Administration, Wednesday, February 7, 2018

So things are beginning to go sour at work or you just can’t face working within your current business environment for much longer.  Should you start networking to find a new job or jump off the working-for-someone-else boat and develop your own company?

Certainly, we’re hearing more about people pursuing a passion they have to develop a firm and the growing gig economy that has inspired sites like Upwork that connect entrepreneurs with people seeking specific services.

Do you have what it takes to make this transition to self-employment? Are you inspired by things that have never been done before or things that have yet to be discovered?  Do you have a vision that nobody else does?   Do you have the makeup to create something unique and offer it to the world? In other words, can you be an entrepreneur?

Aside from having the fortitude to weather the financial insecurity that developing your vision may require, get introspective and think about what building your own business requires.

Can you be passionate about something for the long haul?

An entrepreneur does not start her journey to make money. She is willing to work long hours for little or no immediate financial reward. Why? Because she is driven to either solve a problem or make doing something easier.

How important is passion to entrepreneurship? Throughout the rollercoaster ride that being an entrepreneur is, entrepreneurs reward themselves internally by realizing that they’re on a mission to create something good or something that is better. It’s passion that motivates them between paychecks and during all the times when everyone else (and maybe their own internal negative talk) tells them to quit.

“If you push through that feeling of being scared, that feeling of taking risk, really amazing things can happen.” Marissa Mayer, CEO, Yahoo

Can you be resilient?

Entrepreneurs should expect to fail. There will be many times when they don’t win a contract, don’t convince a client to buy their service or product, or don’t have enough income to pay the bills for a period of time.

But entrepreneurs look at failure as an opportunity to learn valuable lessons.  Yes, they feel disappointment and self-doubt, but they have the internal strength to reassess what needs to be reassessed and go on.  An entrepreneur naturally asks herself what went wrong and then fixes it.

"What I wanted was to be allowed to do the thing in the world that I did best--which I believed then and believe now is the greatest privilege there is. When I did that, success found me." Debbi Fields, CEO Mrs. Fields Cookies

Do you have a strong sense of self?

Unfortunately, it’s a fact that passion and resilience will only take you so far. As a budding entrepreneur, you’ll be faced with lots of obstacles, whether money issues, doubters, or strong competition. To weather these times, you have to have an extremely strong sense of self.

Self-confidence and self-motivation are necessary traits for most entrepreneurs. Entrepreneurs don’t think that their idea could be good; they know it’s good. And they realize that they are the only ones to make their idea a reality.

“If people are doubting how far you can go, go so far that you can’t hear them anymore.” Michele Ruiz, President and CEO, Ruiz Strategies”

Can you be flexible?

Yes, being able to adapt to changes and challenges is crucial for any business. But for entrepreneurs the ability to reassess or revise a business plan is essential. They are prepared and willing to modify their plans when new information arrives and when there are changes in circumstances. After all, an entrepreneur is building something that does not yet exist, so she must be willing to revise her original plan to meet the new information she has gathered. 

“On my own, I will just create, and if it works, it works, and if it doesn’t, I’ll create something else. I don’t have any limitations on what I think I could do or be.” Oprah

Can you be a visionary?

Opportunity is everywhere, at least to an entrepreneur. She’s always seeking ways to develop a new idea, build something better, or improve a product or service that already exists. She’s an innovator who is always on the lookout to either develop a new idea or improve an existing product or service. What separates an entrepreneur from everyone else is the drive to make her vision a reality. An entrepreneur wants to make the future happen.

“You have to do what you dream of doing, even while you’re afraid.” Arianna Huffington

Not everyone can weather the turbulence of starting a business and that’s ok.  But if you are feeling the emotional and intellectual tug to start your own business, look inside yourself first to see if you have the fortitude required.

Submitted by:  Carol Jambor-Smith, Jambor-Smith Communications, carol@jamborsmithcommunications.com

Professional Women's Club of Chicago, PWCC is a Chicago based networking organization that provides networking connections that support, enrich and inspire women to advance professionally and personally. Members come from public and private sectors, multi-billion dollar corporations, mid-size and small businesses, as well as, non-profit organizations. Membership is open to women from all industries in all stages of their careers who want to develop a strong lifelong network. Learn more about membership and upcoming activities


 

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