 Start-Up Success: Entrepreneurship - Part 1
By Rob Brisco of The Venture Institute So, you’re
considering striking out on your own. Why not? Every-body’s doing it, if not thinking
about it. Entrepreneurship is hotter than ever!
Maybe you are thinking of starting something on the side. Or quitting
your day job to do what your really want to do. Maybe you’ve got little choice,
you’re un- or under-employed, and the prospects for work are slim.
Opportunity abounds in the world of self-employment. It’s not as
hard as you might think, or as others might suggest. Like any project, though, you will
need to get equipped for the journey.
In this three-part article we will cover it all. Part 1 will cover the
opportunities and the possibilities. Let’s call it “The Inspiration.” This
will give us the energy and excitement to carry us through. Part 2 will cover “The
Three Zones,” where we will look at what you need to know. Part 3 will cover a list I
like to affectionately (and appropriately) call; “The 10 Keys to Successful
Start-up.” So buckle up, and get ready for a wonderful ride. Once you read past here,
there’s no turning back - you will be on the wonderful one-way, no-turning-back road
to self-employment!
The Inspiration - Business is beautiful, and entrepreneurship is
arguably the ideal career. If done right, it’s a career that can give you what
everybody wants: ultimate freedom and control financially, creatively, personally, and
otherwise. Of course, you know that this is what you are craving and most likely why you
are reading this article. A career as an entrepreneur is attainable - too good not to be
true perhaps! Just remember a few important things… you are the niche. Entrepreneurs
are built, not born, and no two are alike. That makes you a prime candidate. The key to
success, however, is not natural ability, or personality, but how you work with what
you’ve got.
Take the example of three flower shops in the same area. From the
outside, they all look alike, they all sell flowers. How do they survive and thrive
despite the competition? Looking a little deeper, we find that one is run by an
ex-accountant who is successful by controlling costs, and sourcing the best prices to
ensure the greatest profit margin on each sale. The next is run by an artisan who creates
spectacular arrangements that sell for hundreds of dollars. The third shop is run by a
marketer who left her job to build a flower empire, with the mission of having fresh
flowers in every home all the time. She shoots for low prices and big volume. Each of
these owners are successful because they focus on their strengths, and create their
individual niche as a result, not by emulating the competition. Opportunity abounds. The
natural business cycle constantly creates new opportunity for the “little guy.”
Small businesses serve small clients, and grow with them into bigger businesses that no
longer serve small clients. That leaves room for more little businesses (you!) to repeat
the cycle. And if you focus on your niche, then you will be ensured a place in the market.
Business is what you make it, and what you make is up to you. Business
is a flexible beast, and the combinations are endless. Design your business for exactly
what you want to achieve and it will deliver just that. If you want your family life to
stay priority one, then build it that way. If you want to keep your job while you get
started, then do so. Just be very clear on what you want.
What you’ve got is just enough. What-ever it is that you want to
build, there is a way to build it from where you are now. Start with what you’ve got
- in terms of time, money, energy, passion, skills and resources - and grow from there.
Entrepreneurship is a career like any other; it requires
dedication, training and coaching to be successful. If you were to decide to be an
interior designer, the first things you would do is commit to a plan, find a mentor and
learn everything about the profession. In the next issue we’ll tackle specifically
what you need to learn to ensure your success.
Your homework: draw a picture of your life in three years if
you’ve been
successful with your business. We’ll talk about your results in the next issue.
Rob Briscoe is the owner of The Venture Institute & business
coach, consultant & trainer who has worked with hundreds of entrepreneurs across
Canada. 265.7945 www.theventureinstitute.com
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