So You Want to Start Your Own Business – Part Two
Last week I wrote about the desire to work for yourself and how starting your own business requires faith. But in helping my consulting clients through that transition, I’ve found that it’s not always the fear of falling that holds us back from making that leap – sometimes it’s the fear of jumping.
Let’s take Bob, for instance. He’s middle-aged and has worked his way up a few firms, building up a sizable client list each time (because of non-competes). He’s paid his dues and now he’s thinking it’s time to start calling his own shots. He wants to take his part of the business and branch off, but his boss, the business owner, won’t sell. Most owners probably wouldn’t. Bob can leave but he’d probably have to sign another noncompete and build his clientele from scratch again. Is it worth it to strike out on his own or should he just stay put?
Or Jill, a Gen Y-er who has a few years experience and a fancy degree from a brand name university. She doesn’t know what she wants to do but she knows it’s not what she’s doing now. But she’s also thinking it might be time to buy a house and also wanting to help out her parents when they retire in a few years. Should she think about the future or find her passion now?
How about Carl, who hates his 9 to 5 office gig but loves his side job as a personal trainer. He wants to train clients full time doesn’t know if giving up a good salary when
there’s a recession is a smart move. He’s also his family’s primary breadwinner. Should he do what he loves or shut up and put up to keep his family fed?
Can you guess what all three of these people have in common? Yes, they all have what it takes to be an entrepreneur – all smart, capable, and not afraid of a little hard work. And yes, they all know it. They also know that failure is a distinct (and likely) possibility. They all want to succeed. They are fully aware of the risks involved. But they’re afraid to jump. Afraid to take that leap of faith.
It’s not the fear of falling, of failure. It’s not the risks. The reasons holding them back are not insurmountable. It’s making that jump, taking that first step and knowing you can’t turn back.
Each of the people described above could bootstrap a business and make it work. Each could be successful. Each could fail. But they’ll never know until they decide to take that leap of faith.
The bottom line is, that first step is the hardest. You have to determine for yourself whether that first step is worth it.
Nº 1
To add to this, that leap of faith you speak of is what made this country what it is today, and while failure is a huge fear, what we do when we face that fear head on is what makes us who we are.
I have met both sides, and in my experience those folks that take the leap of faith tend to be happier than those that do not, who go on living the 9 to 5, and in the process wasting much of their lives complaining about what could have been.
I really enjoy your blogs Michael.
3 Dec · 18:14