What is it that attracts more and more people to become business owners? What happens to bring that Entrepreneurial spirit to the forefront?
Not only do Entrepreneurs embody the American Dream, they drive our economy and our future.
Today’s corporate mergers create additional opportunities for many to take the “big step” into business ownership. More and more talented individuals in the 40-60 age group are finding great difficulty in their search to replace the position and income they enjoyed in their previous employment. What are these “breadwinners” to do when they are too young to retire and many have one or more children in college? A high percentage will seriously look into business ownership.
As increasing numbers seriously explore business ownership, assuming they are qualified financially, we find the largest roadblock to be….RISK.
R – Research = Reward
I - Insecurity with volatile job market
S - Success is Not Guaranteed
K – Knowledge and Self Confidence to build an asset
Obviously, there are no guarantees. Of course, running a business takes talent and skill.
Reducing the risk is accomplished by research and due diligence. As with any major decision in life, an individual will at first emotionally buy the business, then justify with the facts. The fear factor is rationalized by the confidence a person has in his/her transferable skills and the vision to build something……an asset to pass on to the next generation, put a manager in place and back away when the time is right, or even sell when they choose.
It’s all about timing. I met many of my clients over a year ago. Sometimes people will interview for jobs and look into business ownership at the same time. You can’t give 100% effort by going down two paths at once. Occasionally, a client will take a position that is less than preferred, because the frustration of the search has taken its toll. However, when they are downsized AGAIN, they decide the timing is right to end the job insecurity by moving forward into business ownership. No glass ceilings, no corporate agendas, no corporate politics…..simply more independence and a chance to control their destiny…..a chance to build something by working for “self” rather than someone else.
