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One of the biggest obstacles for beginner entrepreneurs

Beginner entrepreneurs often make decision making errors from the outset, making choices based on bad experiences at previous jobs. Let us explore how this impacts successes or failures of an entrepreneur’s path.

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The calling to be an entrepreneur

People do not always understand what is driving them start a business, what it is that guides them to make one decision over another. We make statements like “there was this pull from deep inside” or “I was called to do this.” I’m not doubting those feelings existed, but they don’t explain why a person makes the jump into entrepreneurship.

Listen to their story next time you get the chance – it is truly amazing that what comes out pretty quickly is the deteriorating experience they had in a job(s). Whether they left the job, or were asked to leave, the stories have a familiar beat of feeling limited, unhappy, marginalized at work leaving them with a feeling of being less than who they are. Their self-esteem can start to go in to a downward spiral heading straight for being labeled a ‘bad employee’ … a box that is hard to climb out of.

The business then flounders

We take that story, that guilt, and that chip on our shoulder into our business and begin making decisions based on response instead of intelligence and direction. Then, guess what? The business struggles and most likely fails!

The strategist will say it is because they didn’t plan, or they just weren’t a business-minded individual and went about it incorrectly… well, they are right to some extent. But only because the person didn’t understand why they were making decisions in first place.

Where no entrepreneur’s mind should be on day one

Reactive is NOT the space in which to decide to start a business, even if you don’t have a job. The reason to start a business is because you WANT to be an entrepreneur, and you fully understand this is a lifestyle not a 9 to 5 position you get to walk away from each evening.

To be successful you need to understand the basics of business, and have a plan of attack as well as a plan for success. Be willing to drop your ego and learn the pieces you do not. Let go of all that crap you experienced in that job to begin believing in yourself 100 percent. No one else is going to if you don’t.

Remember, even if you were a ‘bad employee,’ that doesn’t mean you are automatically a great entrepreneur. Like every career path, there are some people more naturally suited than others, but you can learn to be a fantastic business owner, or you can find a partner to fill in the gaps. BUT – understand where your decisions are coming from.

Emily Leach is a pioneer in the world of uniquely-talented people who feel empowered to go beyond conventional jobs and create businesses from unique vantage points and perspectives. She is the founder of the Texas Freelance Association, the first statewide association of freelance workers in the country and The Freelance Conference, the only event of its kind poised to become THE conference for freelancers across the nation. Her belief that those working for themselves deserve the same respect as those working for major corporations drives her tireless fight to ensure this growing population of “genetically unemployable” solo-preneurs are represented and offered some of the same opportunities as those working for large corporations. Because of her knowledge and expertise, Emily has been a leading-edge organizer and speaker for TEDx events throughout the U.S. Southwest. Currently living in Austin, Texas, Emily’s outside interests include rowing, sailing, traveling, scuba diving, snowboarding, whitewater and cycling – basically, having adventures and living life to the fullest.

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2 Comments

2 Comments

  1. Tinu

    September 18, 2013 at 1:00 pm

    Very true that bad employees don’t always make good entrepreneurs. I blame my parents but I became an entrepreneur because that’s the only economic model for an individual that ever made sense to me. I chose my field from extensive research, particularly market research.

    I don’t necessarily think I’m happier because I own a small business. I approached it more like, “if there’s a chance that I’ll hate what I do, like most people do, I want to hate it on my own schedule and for as much money as I can fairly demand.”

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Business Entrepreneur

If you’re easily distracted, you’re more likely to thrive as an entrepreneur

(ENTREPRENEUR) If monotony and boredom at work- well bores you, it’s possible you may fit with the other entrepreneurs with a quick and constantly changing career.

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When Bill Gates was a kid, he knew he liked messing around with code. He couldn’t have known how it might evolve, but he was willing to live in the distraction, focusing on details when needed, but always learning, moving on, taking risks and growing in the process.

Some of the most successful folks among us are not content to sit and make widgets every day. They cannot thrive in a detail and focused work environment. So, it may come as no surprise to know that people who are more easily distracted are also more likely to thrive as entrepreneurs.

According to this study, if you are intelligent and get distracted more easily, those two qualities combined will likely enhance your creativity. And, that creativity and ability to use distraction as an advantage can be channeled to create new things, jobs, companies, etc.

For those of us who are more easily distracted, who enjoy doing different things every day, and who like learning, a recent article in the Harvard Business Review suggests a good option is to find a career path that provides the right amount of distraction and which is a great fit for your personality. If you do that your talent is more likely to be apparent because you are playing to your strengths. Also, if you are working in your sweet spot you will be more productive and motivated.

Maybe not surprisingly, the top job for those who live in distraction is entrepreneur. The term “easily distracted” often comes with a negative connotation, but considering an entrepreneur is taking risks, making things happen and creating companies, ideas, products that may have never existed, this spins that idea on its head. Entrepreneurs are the chief cooks and bottle washers of the world. They ideate, create, hire and inspire. None of that is possible in a monotonous work environment.

“Unsurprisingly, meta-analyses indicate that entrepreneurs tend to have higher levels of ‘openness to experience,’ so they differ from managers and leaders in that they are more curious, interested in variety and novelty, and are more prone to boredom — as well as less likely to tolerate routine and predictability,” according to the HBR story.

Other careers that are great fits for those of us (me included) who enjoy distraction are PR/Media Production, Journalism and Consultant. What these fields all have in common is, there is never a dull moment, switching from task to task is pretty commonplace, and you will do well if you can be a generalist – synthesizing information and weeding out the unnecessary.

Not sure where your strengths lie? Here’s a quick quiz to give you some feedback on how curious you really are.

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Business Entrepreneur

How can a small business beat a large competitor moving in next door?

(BUSINESS) How do you stand out when a big competitor moves to your neighborhood? Reddit has a few suggestions – some obvious, some not so much.

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Small businesses, especially restaurants have been hit hard by lockdowns. Many closed for good this year, and those that are still hanging on are in a precarious position as their local economies shift.

Last week, a user on r/smallbusiness asked a timeless question that is especially relevant right now. Reddit user longbottomjr writes: “We have a strong competitor moving in next door in a few months. Our restaurant is one that pays the bills but […] I feel that if this new competitor takes up enough market share we will lose our restaurant. Can anyone chime in with resources/ideas I can use to help put together our plan of action?”

Comments quickly pointed out what common sense would dictate.

First, ensure the basics are covered. Being clean, quick, friendly, and high quality will take you far, no matter what competition you’re up against. And as u/horsemullet said, “Customer service also happens before someone walks through the door!” So make sure that your online hours, contact info, menus and social media accounts are up to date and accurate.

Another point emerged that is less intuitive: Competing businesses will naturally gravitate towards similar locations. This is a well-established phenomenon known within game theory as Nash’s Equilibrium. In the restaurant industry, this is actually a good thing. It brings entirely new customers to the area and ultimately benefits all the other nearby businesses, too.

Take advantage of the attention by offering something other spots don’t, like loyalty rewards, specials, unique offerings, or meal deals.

Speaking of the area, a great way to stand out from larger competitors is to build relationships with the community you serve, as u/sugarface2134 emphasized. “In my city there are two Italian restaurants in the same location – just across the parking lot from each other. We always pick the smaller one because the owner truly makes you feel like a member of the family.”

That’s an advantage of being a small, local business that all the money in the world couldn’t buy. Get to know your customers personally and you will not only create loyal regulars, but friends as well.

One of the top rated responses, from u/seefooddiet2200, made an often overlooked but critically important point.

“Talk to your staff and see if they have any ideas. These are the people that are working every single day and may know one or two ‘annoying’ things that if they were switched would make things easier. Or maybe they see that there’s specific things people ask for that you don’t serve. Every single [one] of your employees is a gold mine of insight, you just need to be open to listening to them.”

That is applicable to any business owner who wants to improve their practices.

Ask employees what they think, especially the ones who have stuck around a long time. Not only do they know the ins-and-outs of their jobs, but this builds rapport and trust with your staff. A good boss realizes that employees are more than their job descriptions. They have valuable thoughts about what’s working and not working, and direct access to customer’s opinions.

Good luck, u/longbottomjr! We’ll be rooting for you.

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Business Entrepreneur

How a newly funded coffee delivery startup is thriving during COVID

(REAL ESTATE MARKETING) Seattle’s Joe Coffee finds successful funding in hyper specific clientele and operations even mid-pandemic. But how did they do it?

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Joe Coffee delivery

Amidst a pandemic, you might not expect a small company with limited clientele to thrive. Yet, Joe Coffee, a Seattle-based delivery service, is doing just that.

Joe Coffee, an aptly named coffee runner, has received millions in funding, a large chunk of which was raised mid-pandemic. Their mission is simple: to bring coffee from smaller shops to local consumers, especially without endangering either party.

There’s a lot to be said about Joe Coffee’s valuation and mission, but what’s more intriguing is their unlikely success.

A food delivery service that focuses on coffee may not seem that niche, but when you look at Joe Coffee’s determination to stick to the Seattle area, coupled with its staunch resolve for frequenting smaller shops (e.g., not Starbucks), the service begins to look pretty specific–and, in an economy that honors sweeping solutions, this is a welcome change of pace.

The way their service works is fairly simple: Joe Coffee provides shops with signs and information on how to order through the Joe network, then consumers are able to download and order through a mobile app on all of the usual platforms. Joe Coffee takes a nine percent cut of the order total, credit card fees included.

In return, customers are able to order from their favorite, local, non-chain coffee shops, both supporting them and sustaining their caffeine addiction at a time where alertness is paramount and grouchiness is all too common.

What’s truly interesting about Joe Coffee’s example is that it demonstrates an availability for small services with extreme specificity in terms of operating capacity. By sticking to unique businesses in a relatively small metropolitan area (as opposed to, say, multiple cities), the service is more likely to be successful in execution and delivery, thereby solidifying its relevance to both consumers and businesses alike.

And, by playing into the need for curbside pickup or home delivery these days, Joe Coffee only furthers the perception that its service is necessary.

If the country begins to reopen–whenever that happens–it will be no surprise to see Joe Coffee maintain a relationship between consumers and smaller businesses in the Seattle area. For anyone offering a similarly niche service, this is a perfect example of a company to which you should pay attention.

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