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Worth the risks
I know you are out there, hiding in those hollows.You are telecommuting, producing promotional materials, writing copy, creating crafts or making a living as a farmer.
All of you are entrepreneurs—you are taking risks to be independent. You don’t rely on a paycheck from an employer. You make your own salary. You create your own job.
And most of your more conservative family members think that you are crazy!
This blog is for you. It is a space where you can share your entrepreneurial perspective, by commenting on your own “e” or entrepreneurial experience. This web space is where you can learn from others, while you provide your insights into your own trials and tribulations…and celebrations! I hope we can join together to build an entrepreneurial community in Rappahannock County. Please freely add your comments to this blog.
So who am I and why am I writing this blog? I am a veteran entrepreneur (2 businesses) who has weathered the roller coaster ride of business ownership for over 25 years. My place in Rappahannock is appropriately called On-the-Edge. That is because I have lived a great deal of my life either “on the edge” or sometimes “on the brink”, due to the risks that I have taken in my entrepreneurial career. But I can tell you that the view from the “top”, which I occasionally made, was magnificent and worth it all.
You know, if you have chosen this career path, what the roller coaster ride called small business ownership is like. You love the highs (remember that big contract!) And hate the lows (remember when sales plummeted and you couldn’t pay your bills!).
But, if you are like me, you would not trade the ride--- which is YOUR ride-- for any other career.
Why? Because there is something thrilling about having an idea and making it work in the marketplace. Not all entrepreneurs are mavericks, but they are “economic artists”. They are the artists who harness creativity into economic activity. Their medium is cash instead of paint or clay. They use dollars to create economic “works of art”; works that can reap reward for themselves and others.
And if you are just thinking about this career, but afraid to take the risk, here are some steps that will help you step to the edge and take the leap:
Take a good look at yourself and your personality characteristics. Research has shown that entrepreneurs have certain personality characteristics, high among which are tolerance for ambiguity (remember, there is no promise of a paycheck), calculated risk taking, and a strong sense of controlling their own destiny. (This will be the subject of my next blog.)
Check your motivations, and check them again. If you are running away from a bad job, or think owning a business is easy: THINK AGAIN. This career can be exhilarating and satisfying, but it takes hard work, dedication and long hours to really “make it”. You trade one boss for many: your customers, your banker, your employees, and, of course, yourself. And sometimes your “inner boss” can be the worse boss of all.
Make sure it is the right time in your life to start your venture. Are your children still young? Do you need to save money for college? Is your personal financial house in order? Sometimes it is best to postpone the venture until the time is right. Remember, Colonel Sanders of KFC fame started late in life.
And last, but not least, make sure that you have a viable business idea. One that customers or clients need and will pay for! The best way to figure this out is to do adequate market research and write a business plan. (Another subject for another blog.)
But finding out it you have what it takes to be successful is the stuff of my next blog. So tune in again, and add your comments to my views. We want to hear from you about your e-experience. Tell us about your biggest risk and how it paid off!
About the Blogger: Charlotte Taylor started her business CTA Management Group, Inc., which trades as Venture Concepts, ® in 1981. She was a pioneer in entrepreneurial training and created a business planning program (New Enterprise Training for Profits (NET/PRO)® h that helped thousands of people start businesses in the USA, Canada, and Russia. A business consultant and coach to CEO’s, she specializes in helping emerging enterprise achieve successful growth
Charlotte,
Nice blog and great start!
I'm on my third business and love the fun, excitement and creativity of a start up.
It is definitely not for everyone, however!
Julie
Posted by B_Julie_Emery
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