The trend of entrepreneurship is growing. The rate of new entrepreneurs in the U.S. increased 10 percent from 2014 to 2015, the number of startups is on the rise and, I would argue, the barrier to entry for entrepreneurs is lower than ever. Low-cost, cloud-based tools and the ability to communicate globally make your kitchen an (almost) perfect starter office. Still, a lot of people ask me how I knew I wanted to be an entrepreneur. If you’re exploring the endeavor, here were the three indicators for me that I marched to the beat of an entrepreneurial drummer and three questions you should ask yourself before branching out.
I knew I wanted to be an entrepreneur because I have always owned my work
When I started my business, I anticipated stress surrounding the day-to-day work, as I had experienced when I worked for someone else. What I quickly discovered was that I had always “owned my work.” In fact, there were many things about starting my business that eliminated stress – the ability to manage my own workload and priorities and, most importantly, outcomes for my clients. If you’re the kind of person who lays awake at night worrying whether or not your clients or customers are happy with your work, you might be cut from the same cloth.
I knew I wanted to be an entrepreneur because I have to have my thumbprint on everything
My team will tell you, I always want to give my input. It’s a rare day when something crosses my desk that I don’t just have to put my personal touch on – I guess that goes with the desire to own my work. In fact, in a recent Acumax assessment I took, the results said I was most engaged when I had the opportunity to put a “thumbprint” on or modify ideas and plans of action. I guess I take that same approach to my work and life. While this quality positions me well for leadership, I have to overcome this desire in some aspects of my work as our company scales.
I knew I wanted to be an entrepreneur because it’s in my genes
My dad is an entrepreneur, my brother is an entrepreneur and though my mom is not an entrepreneur, she is very entrepreneurial, and she’s been along for the entire ride. Growing up in an environment where business is the topic of dinner (and almost every other) conversation makes it a little easier to plant my own personal flag. Though we’re all entrepreneurs in different industries, it’s probably not surprising to know that in many ways the journey for all of us is the same: in the words of my dad, “The highs are high and the lows are lower.” If you want to be an entrepreneur, you need to know what you don’t know and surround yourself with people who complement your strengths.
If you’re considering entrepreneurship, I received some great advice before going out on my own. Barry Saltzman, a Chicago-area business consultant told me to ask myself the following questions:
- Do you have the network?
- Are you still gaining new skills that you’ll need when launching your own venture?
- Do you have the money to support yourself while you’re getting up and running?
The first time I asked myself these questions, I realized I wasn’t ready; I was still building connections and learning critical skills, particularly about business development; and I did not have the money to start my own venture. However, I used these three questions as my baseline to build toward, so when I was really ready, all I had to do was hit GO.
