Ask the Experts: Ideas for Those With Entrepreneurial Personalities
Question:
I am seeking a self-employed role in which I can better control my own income, life, and time. It seems that the traditional ways of self-employment lead to dead-ends. Do you have suggestions for the next wave of the future for those with entreprenuerial personalities?
First Answer:
My intuition questions if you have an “entrepreneurial personality” as you believe. To paraphrase “is your drummer the one that is different.” My conclusion is drawn from you statement that “traditional ways of self-employment lead to dead-ends” It is my belief an entrepreneur once she/he has formed an idea and a plan to develop it, would not view her/his effort as having a “dead-end” goal. I feel that no reasonable barrier would deter a believer in himself or herself from attaining their goal. New and undeveloped arenas are no assurance of success if you do not have the organizing abilities, personal drive and leadership qualities to make the sacrifices, do the planning, pursue the money, and battle the odds, develop a market and keep the business running. Even with these attributes, there is no guarantee.
Explore your thoughts by visiting the Small Business Administration web site for some helpful ideas and information. In many communities, a group called SCORE (Service Corps of Retired Executives) is available. This is a consult volunteer association sponsored by the SBA to match experienced, retired business executives and managers with individuals interested in self-employment.
As to the next wave of opportunities, here are some of my ideas:
- Elder-budsman: Since the population is aging and insurance is increasingly important and complex to the elder an firm of ombudsman to assist the elderly with insurance claims and questions.
- Hacker tracker: The internet is an increasing element in our lives and shopping will increase in this mode, how about a security company to track hackers and internet criminals that interfere in the flow of commerce.
- Human engineering: An ongoing shortage of human organs is and will be a concern, how about a firm that creates replacement body components either mechanically or biologically, i.e.: stem cell research.
- Nanotechnologist: Designer of molecule-sized machine to repair internal human damage or fight disease at the source. Could be applied to brick, steel and exterior structures as well.
- Robotic companion: Development of mechanical “companions” or android personal assistants to aid the handicapped or elderly in their daily lives
— Robert C. Resch, Career Center, Triton College.
Second Answer:
To be successful at your own business you must be financially, emotionally, and materially strong. You must put a great deal of time and thought into planning a new business such as who your competition will be, what the going rate is for comparable services, and whether or not you can acquire/risk the resources you’ll need to develop a viable, profitable, business. You also need tons of confidence, determination, personality, business savvy, and creativity to be a successful entrepreneur. The most essential ingredient in your success comes directly from within yourself. If you aren’t confident than you can and will succeed, who else will be?
I also suggest getting some dree or low-cost help in creating a simple business plan through a local business association, educational institution, non-profit organization, or city agency. Without a basic business plan, you’re just guessing at success, and playing a risky game. Consider too, that many people start a new business as a side venture, and only quit the job market after their business is profitable enough to warrant it.
— Alison Blackman Dunham, life & career expert, columnist, personal public relations consultant, half of THE ADVICE SISTERS®, and the author of the ASK ALISON career advice column.
Third Answer:
I may not be able to answer your question precisely, but I’ll bet Daniel Pink can. I just received a copy of Pink’s new book, “Free Agent Nation: How America’s New Independent Workers are Transforming the Way We Live” (2002, Warner Business Books, list price $24.95, on sale for $17.46 at http://www.amazon.com/exec/obidos/ASIN/0446525235/adguidescolleger). More of an inspirational book than a “how-to,” Pink’s book talks about consultants, “permalancers,” techno-cowboys, gurus, nomads, gypsies, information backpackers, lone eagles, sole proprietors, portfolio workers, and 1099ers. The book is all about “the next wave of the future for those ith entrepreneurial personalities,” and you would likely find it a fascinating and inspiring read.
— Katharine Hansen, former speechwriter and college instructor who provides content for the Web site, Quintessential Careers, edits QuintZine, an electronic newsletter for jobseekers, and prepares job-search correspondence as chief writer for Quintessential Resumes and Cover Letters.
Fourth Answer:
I think that one of the main reasons that many entrepreneurs are not successful may be that they didn’t have a clear idea of what business they wanted to be in. No matter what independent venture you establish, it must provide the entrepreneurial owner the opportunities and income that define success for them. You can’t just love to bake and open a bakery–for a bakery to thrive it has to attract enough customers, sell enough good and produce sufficient revenues to pay for itself. So it is admirable that you know you want to be out on your own, but you absolutely must assess your interests and skills to know what you are getting into and to select something where your sweat equity will pay off.
There are many web resources for entrepreneurs. You can also contact the local chapter of SCORE, the Chamber and other business councils for advice. Be sure to check carefully to learn everything you can about operating your own business. If you decide on a franchise, interview other franchise owners to learn more about their experiences. Ask them what contributed to their success, what they found difficult, how they overcome problems and challenges and what they wish they had known before they started. Speak to former professors and seek out the college career center for guidance. Do your homework thoroughly because you need to count on you to be correct, informed and able to make wise decisions.
— Debra Feldman, founder of JobWhiz, creator of the JOBWHIZQUIZ, and specialist in cyber savvy strategic job search consultations.
