Entrepreneur, Know Thyself
For those seeking self-employment, the phase ‘Entrepreneur, Know Thyself’ is as critical to success as breathing is to life. The two most important questions that all entrepreneurs should first answer are: Should I really be self-employed? And if so, what type of business best suits who I am? After years of consulting with literally hundreds of prospective entrepreneurs. a pattern among successful business owners became obvious. Those who did well had a personal identity with their venture. In other words, successful entrepreneurs fit well with their businesses. They blended with their business in what seemed to be a natural extension of who they were as a person. That insight led to the developed of a system to help people understand their entrepreneurial selves.
The Focus Program for Emerging Entrepreneurs is a powerful, creative process that helps prospective entrepreneurs analyze themselves BEFORE launching into self-employment. While personal reflection should be the first step toward self-employment, business planning usually takes center stage. Far too many business owners begin to consider their fit with a chosen business after starting a venture, not before. The cry, Entrepreneur, know thyself is paramount to success, but not generally heeded.
For over three decades we have counseled and consulted with business owners. For those who are failing or have failed, two elements are generally present. First, choosing self employment when one is not suited for it. Second, choosing the wrong venture. The person behind the decisions should always be the lead factor. Only by considering what types of ventures best suit our entrepreneurial style, can we make logical self-employment decisions. There are logical truths as to why small businesses fail. Pay attention to them.
Life as an Entrepreneur is a Different Lifestyle Altogether
Entrepreneurs generally lead a more demanding and solitary life than other career tracks and as a result, are often left alone to solve business problems. Running a business is challenging enough be itself, but choosing the wrong type of business, a business that does not suit the individual, drastically compounds the amount of problem solving to be done. Poor choices at the beginning of a business venture usually end in a dysfunctional and/or failed effort down the road. On the other hand, entrepreneurs who clearly state personal and business goals that are congruent with who they are, tend to find the personal and business success they seek.
As with life choices in general, great entrepreneurial experiences begin with a clear and accurate knowledge of what will compliment our God given skills and logical needs. In too many cases the hype surrounding “hot” business opportunities and blind promises of instant income cloud the aspiring entrepreneur’s judgment. Of course knowing the viability of as business concept is necessary, but it should be determined only AFTER ones entrepreneurial identity is known. If you seek self-employment then follow this advice: Entrepreneur, Know Thyself’.