Can Anyone Be An Entrepreneur?
...or, Do You Have the Right Stuff to Be Your Own Boss?
Over the past year, I’ve lamented over the huge number of folks collecting unemployment and complaining about the lack of “good” (well-paying) jobs. No matter how often I cry out, “This is America! Start your own business! Create your own job! Turn your passion into profit! Use WordPress and social media to market yourself!” many continue to hold out hope for a “regular” 40-hour-a-week job and a weekly paycheck signed by a boss.
At first, I was frustrated with those who are unwilling to start their own enterprises, especially the unemployed who have obvious gifts, talents, and passions, and the extra time to pour into a new business. But over time, I began to see important differences in personality and patterns of thought between entrepreneurs and others. A few of my friends even tried the entrepreneurial path and failed, some of them a few times. Finally, I had to ask:
Is it possible not everyone has “what it takes” to be an entrepreneur?
Scott started New England Multimedia back in the 1990′s as a way to ensure he could be home with our daughter, make enough money to support our family, and still have the flexibility to write and record music. Even when the financial pressures were unbearable and I begged him to “get a real job” (I was homeschooling our daughter), he pushed through, dug deep, and refused to give up. Somehow, Scott always pulled it out, and now, I’m so glad he didn’t give up.
One of my favorite entrepreneurs, Jayme Soulati, a Public Relations professional, shared a few of the personality traits that make entrepreneurship perfect for her. See if you find yourself nodding your head in agreement:
I’ve joined Scott, Jayme, and many others on the wild side. Call me crazy, but I love this unpredictable life and the freedom I have to exercise my creativity, come and go as I please, choose and turn down projects according to my values and my goals, and make as much money as I want. The thought of anyone else dictating my pay scale, numbering my “personal” and sick days, and deciding when I can take a vacation seems like slavery to me now. I’d wither on the vine in that kind of environment.
But it’s not for everyone.
What is it about YOU that makes entrepreneurship so appealing? And if entrepreneurship is NOT for you, why not?
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Your passion sings to your talent. If you apply those talents and that passion to a business then, yes, you can be an entrepreneur. Now, to be a hugely successful entrepreneur you will need management and technical skills as well. You also need to be a bit risk-adverse.
Uhm, Hi, Michelle! Thanks for letting me blogjack! @kdillabough
You’re awesome, Jayme! Thanks for making this a conversation and being here for everyone. You’re the best.
Like. You gave me the gift first, Lady!
No, not everyone should be or can be an entrepreneur. It’s a risky, gutsy path and you’re either wired that way or you’re not. I most definitely am and I wonder if it’s because of my parents’ influence. However, my brother grew up in the same house and he has never had that burning desire to go out and carve his own path; he works for my parents.
My husband, wonderful soul that he is, can’t understand my passion and desire to do what I do – he supports it and in a way, admires it, but can’t put that moniker on himself. Too rock solid and steady.
Great post, Michelle and awesome to include Jayme in it!
I feel compelled to reply. Yes!
Erica, I was just writing about the early days of New England Multimedia, when Scott would get a 50% deposit on a website or multimedia project and want to sink that money into some piece of software or equipment that would cut his development time considerably. I would insist on paying bills instead. Of course, we were both right, but those are the kinds of decisions that will make or break a self-employment start-up.
I don’t think it’s possible to be successful as an entrepreneur if you’re not willing to take risks, because it’s the pressure that drives us to succeed. That same pressure is what keeps others from this lifestyle. I get that now.
I’m glad your husband is so supportive!
Great video! I’ve always loved entrepreneurship, but so far I haven’t found the road particularly lined with gold. Getting those first paying clients who is tough…even when they like your idea, changing habits to bring income your way is a steep hill to climb. I sit on the precipice of being a jobseeker and an entrepreneur, or both. I want the freedom that entrepreneurship brings; have serious doubts about fitting someone else’s mold, but whether it’s personal salesmanship or what the issue is, things haven’t happened as planned. I have people telling me I’m awesome and a thought leader, but I need the people who tell me that and also write checks!
Dog it, Brad. You know how a dog nudges your hand until you finally pet him? Do that but be mindful of the season approaching when everyone is taking time off.
All true. Have heard many say the holidays are a good time to network since a lot of people mentally disengage until January 2.
Brad, I’d love to see regular blog posts from you, on a self-hosted platform, because you are really, really good at social media campaigning. Those blog posts are going to showcase your experience and knowledge, and that’s when companies who have money are going to say, “He’s the guy.”
I mean it. You’re good. So find a niche, and make that yours. How about social media for broadcasters?
She’s spot on, Brad! Just Do It!
I know my blog posts need to increase, and I need to get them on my own WordPress website which will also be my business website. Working with broadcast stations and personalities would be a great niche.
I would agree that it is possible for anyone to have an entrepreneurial spirit, but not everyone has the the capital, resources, or backing to venture out in all areas. Certain industries require much greater capital and investment to get something started than others. The ones with low barriers to entry tend to be very overcrowded, and the one that are not tend to have the need being fulfilled by large corporations, which are not going to take kindly to a small business trying to get a portion of their market share. Most tax breaks, loans, and such are setup to go to large well established businesses. For example who without massive capital could start a cellular provider service, major credit card, bank, railroad, airline, oil company, etc. All those areas are pretty much off limits to someone without very deep pockets. This is not to say it is impossible, but that gifts, talents, and passions are only half of the equation, and often times they do not convert well into money. Moreover, in order to covert those passions into money it can often forces people to compromise their gifts talents and passions in order exploit and commercialize them. Entrepreneurship in spirit is great and everyone can have that, but in practice there can often be insurmountable barriers to the implementation of it.
Jon, most of the businesses we work for started out as very small enterprises, with the entrepreneurs working for someone else while they spent all their free time starting their own businesses — usually with no extra money, and on a project-by-project basis, reinvesting their meager profits back into their businesses and sacrificing a great deal.
I think one of the most important personality characteristics of the successful entrepreneur is his or her outlook. When they look at a glass that’s only half full, what do they see? A glass half full of opportunities, or one half full of obstacles? Even a mix of the two is better than only seeing obstacles!
You and I both know several very successful men who started out with nothing but talent and brains. The difference between those guys and others with talent and brains is their personalities, I think.
You know I still work full time and also working on my other “life” so yeah, I think I am an entrepreneur – I think for me, that you do have to have that “hutzpah” as my Yiddish friends would say or the guts to actually try something new.
Funny that Jayme mentioned Avon and Herbalife…My husband and I were with another MLM similar to that, but the one thing they did teach me is that a job = work = rat race. To work with whatever your passion is= the sky is the limit.
I’ve always been a hustler, always willing to learn something new and look where I am now.
I’m building our company one festival at a time, and we’re slowly growing for next 2012 season (but can’t mention yet what that is).
I’m ready when it happens, ’cause as being still a contractor after 5+ years, who knows if I’m here today and gone tomorrow. I always have plan B, C and D waiting in the wings.
So absolutely smart, Gia! Love that chutzpah, and I was “accused” of having that by someone, too. I’ll never forget how she said it — 2 parts amazement and 2 parts jealousy.
Gia, I can’t wait to hear what’s coming down the pike for 2012 with your Renaissance festivals!
My husband was full-time on our small business for several years, and now I am while he is in a “regular” job. I have always loved the flexibility that being a small biz owner offers, particularly with young kids at home. I can be there every day after school with them. On the other hand, I didn’t like the incredible hours my husband, in particular, put into the business. You may be present physically, but if you’re working every night and weekend, you aren’t really there. And I definitely didn’t like the unpredictable income when he was full-time on his own business.
As you say, it isn’t for everyone and maybe it isn’t for everyone for their whole life. Right now, it’s good for us.
Thanks, Michelle!
But, Neicole, no one says entrepreneurship is 9-5; quite the opposite! It’s 24-7 because you’re always thinking no matter what!
Neicole, you’re so right. Owning your own business, entrepreneurship, self-employment — whatever you want to call the lifestyle — is all-consuming.
When our daughter was 9, Scott determined to set aside one evening a week just for her. He’s guarded that time ever since, and there’ve been stretches where he set aside a whole day for her. They’ve spent their Daddy-Daughter time doing whatever she wanted, and it’s meant the world to her.
Here I was hoping Jayme would give a recap of her speech! Thanks for sharing here, Michelle. Yes, I was nodding in agreement. No boxes, no structure for me. I’m a passive challenger, and I’ve been that way since grade school. Working as independently as possible has always worked best for me.
Knowing me as you do, Shakirah, uhmm, there’s no way on this Earth I could recap my speech! I got off on so many tangents with stories and spoke for an hour straight without a deck. It was zany and I think I gave one student a heart attack when I opened up the energy; she clapped her hand on her mouth like she was gasping.
So, I called her out on that…”you OK? My energy just too too for you this morning?”
Good ice breaker!
I hear you, Shakirah! I wish Jayme had recorded her speech. Next time, Jayme, OK?
My gosh. I didn’t know you had actually put me in your post! Dang, Girl! Blushing down to my toes.
Thank you so much!! Hmm, I wonder if this is a good topic to expound upon on the various channels and do something with it?
My presentation yesterday was all over the place b/c there is so much to say. What I understand, though, is that people are very confused about whether, how, what to start a business.
Are Herbalife and Avon, candles and magnets considered entrepreneurship? How would you respond to that question?
Jayme, I think any endeavor that a) puts you in charge of your own schedule, b) requires you to go out and find an audience and customers, c) and enables you to make as much money as you can with no one else dictating that for you, qualifies for entrepreneurship.
I knew a woman who made a killing at Mary Kay. She assembled a sales team of women with her own ambitious values, and then motivated them to sell, sell, sell. I attended one of her sales meetings by invitation; I never saw anything like it.