What 14 Years Running Carl House Has Taught Me (and other entrepreneurial musings)
Having just this month handled over my business to the able hands of new owners, I find myself reflecting on new entrepreneurial endeavors and consider the heart of what makes a true entrepreneur.
We (nearly all) embark upon our business dreams out of a passion for something we love…be it hosting events, creating the greatest new marketing tool or creating the latest and greatest new widget. Service or products, there is much to know in how to create a business that is run well, profitable, and which allows us to not have to work 24/7 with no time for the very things you hoped owning your own business might bring. One too where we can relax emotionally knowing we have the proper team working to managing inherent challenges as they arrive.
With my current move to beautiful Bozeman, Montana, near family, head clearing mountains,much less traffic, the benefits of a college town and more athletic endeavors to embrace than I can currently fathom, I am careful to take time to consider my own next business steps.
Similar to the dozen or so questions we might ask when entering a new romantic tryst: signals for compatibility ease, work and life goals, finances, sexuality, emotional support, family involvement, retirement ideals…we might ask some of the following questions with regard to starting a new business:
1. What makes my heart sing, brings out and satisfies my various passions?
2. What level of risk am I willing to embrace, (through loans and other needed cash flow or the lack of cash flow when you start)?
3. What kind of support do I need and am I willing to be in front of customers or capable and interested in managing a small to big team?
4. What are my true skill sets and what parts of my business, (marketing, finance, operations) would be better delegated to another or outsourced?
5. What time am I willing to give to my business, taking away from time for my own interests be they family, friends, vacations or needed solo time?
6. And once again, do I feel empowered and freed through the efforts I am pursuing or will it weigh heavy on my soul and true sense of purpose?
The flush of a new endeavor or romance is easy during the infatuation ‘what if’ stage. I work with small companies who typically are in the throes of new growth where structures need to be created, better roles established and certain systems developed and a clearly defined culture that drives the business.
Take time to answer these questions and consider a trusted, respected mentor or business colleague to help you see the ‘forest’ from what will be the often very dense ‘trees’ of your business.
And keep in mind, entrepreneurship is not for everyone, but for those who MUST march the beat of their own drum! When developed mindfully, it’s worth every second you invest!!