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Are You Entrepreneur Material?

Are You Entrepreneur Material?

| June 04, 2018

Many people who enjoy what they do and are good at it think about going out on their own. It seems like a good idea; if you have the ability and passion to do the work, why not start your own business?

What some entrepreneurs don't understand is that you need time working on the business, not just working in the business. Starting and growing a business takes time and devotion. Maybe in the very beginning you can do it all yourself but if you are successful, you will quickly have to make choices. To borrow a phrase from Michael Garber's best seller, The eMyth Revisited, you can't spend time being the baker and still run the bakery. Something will suffer and most likely it will be whichever one you enjoy the least. In the end though, it doesn't matter because the business won't succeed. You need to hire.

In fact, a business needs a head, hands and feet: A CEO with a well-thought-out vision that can scale, adjust and grow; excellent customer service; and a sales force bringing in more business.

If you're a new entrepreneur and you have more work than you can handle, consider a virtual assistant to handle administrative tasks on an as-needed hourly basis. College seniors looking for real-world experience for a modest level of pay can also be a great source of help.

Although you may feel you can't afford to pay for assistance because you can “do it yourself,” you must ask yourself if it's worth your time. Your time is money. Spending it on things you can outsource or hire others to do takes time away from your primary job, which is to grow the business. Hiring out is an investment in the future of your company.

If you are an entrepreneur or plan to be one, it's time to decide whether you are willing to make those choices. Are you?