by Melanie K
On the surface, we all have this idea of what being an entrepreneur means. Entrepreneurs have a reputation for being savvy risk takers whose goal is to make big money. That may be the case if your objective is to eventually sell your business publicly. But, the more I read and talk to women in business, the more I realize that there are many women entrepreneurs that run small and large businesses who have deeper goals.
This is not to say that one of your goals shouldn’t be monetary! It’s just that it may take a while for you to achieve that goal. One of the most prevalent messages that I keep encountering is “don’t do it only for the money”. The challenges that come with starting your own company are such that, at first, the money won’t be enough of a reward. You must have other non-monetary benefits coming out of your business to make the effort worthwhile.If you are considering starting up your own business, it’s good to think a bit about what extra things about running a business will benefit you. Here are a few to consider:
Doing something that you are passionate about. Whether your are selling a service that benefits society, or a product that stimulates your creative side, the process must definitely be self-fulfilling.
Looking for a particular lifestyle. Author Ginny Wilmerding also calls this ‘workstyle’, but regardless, you are looking at business as a way to create flexibility in your work/life schedule. On a daily, weekly, or monthly basis you determine when and where you work, based on priorities in your personal life. As one part-time business owner says, ‘you work to live’, rather than ‘live to work’.
Freedom to be creative. Working for yourself allows you to set aside time to be creative and explore ideas that can benefit your small business. You have the freedom to experiment and diversify the products and services you deliver as soon as you feel the inspiration.
Learning new skills. Because you are the owner (or perhaps a co-owner) of the business, you are directly involved in all aspects of the operation including product development, marketing, delivery and finance. Over time you might discover that you prefer some of these tasks over others and will hire people to fulfill these roles. Ultimately, if you like to learn new things, running a business is a great way to do it.
Meeting new people. Your peers start to change when you operate a small business. Unlike a profession or a trade, where everyone has similar training and credentials, you begin to interact with people who come from a variety of backgrounds. The fundamentals of running a business are the same, but the products and services that your peers provide may be different and can give you new ideas for running your business.
Whether your life circumstances are pushing you into self-employment (you want to spend time at home with children) or are pulling yourself into it, it’s worthwhile to think carefully about why you are working for yourself. Remember these non-monetary benefits when you face challenges in your small business and they will keep you motivated to pursue your dreams!
Women in Business: What benefits are you pursuing in your quest for self-employment?
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