I read an article yesterday on Business Insider about the traps that people fall into when they choose to start a business, aptly named "Entrepreneur Porn". It comes down to the question of Why they are starting the business. I will discuss a few aspects here, but the full article can be found at: https://www.businessinsider.com/starting-business-entrepreneurship-hard-7
Side note: I love how the shortened link title above says STARTING-BUSINESS-ENTREPRENEURSHIP-HARD. No beating around the bush. ENTREPRENEURSHIP HARD. That is the gist before you even click the link and read the article.
As I said above and so many times before, it is all about the why. The article talks about several aspects of specifically entrepreneurship, but I would like to expand that a little bit for my readers. I do not only work with entrepreneurs and so I want to connect the points to 9-5 jobs or even hobbies and leisure activities in which people participate. The two main points that I am going to cover in two separate posts are:
PURPOSE and PREPARATION
The article discusses the sexy allure of calling oneself an entrepreneur or adopting the liberating mindsets of "not having a boss anymore" or "freedom to make the schedule I want". Those are all attractive, for sure, but then what? Once you LLC your company and technically are granted those freedoms, what are you going to do with the business? What next?
This is where the WHY comes in. This is all about what truly drives you. Whether you are starting a business, you work 9-5, or you started a new hobby (or habit re: last week's post), why you are pursuing that thing is the most important predictor of your future and satisfaction. Hoping to call yourself an entrepreneur or hoping to have a steady job are good goals, but they can be achieved in little time. Once achieved, you are left then with a lot of subsequent responsibilities you had not considered because your only goal was achieved at the start. After starting a business, there is a lot that goes into maintaining a business. Once you get a job, you have to show up every day and perform.
If you only thought about obtaining one or the other, you will be in for a shock about what comes next.
It is like the phenomenon of weight loss. If you set a goal to lose fifty pounds and you do it, what then? People often cop out and say "I'll just maintain it" when really they did not set a new next goal to proactively start pursuing such that a new success is defined.
The "allure of entrepreneurship" is something I have thought a lot about. I wanted my own company all the way back in high school, but why did I want it? Why do I want it now? Upon reflection, I have realized that, even though I agree with the article about how sexy the Entrepreneur title can be, that was never why I went into entrepreneurship. The title feels good, yes, for sure, but I learned that it is secondary to what really fuels me: creative independence.
There are a lot of things about business management that I am so aware that I am not interested in and the delegation of which I am slowly learning how to orchestrate. I am proud of the fact that I own something unique and authentic, but being the "owner" is not my reason to do it. It is not my why. When my business grows and there is more of a team involved, I am interested in being its leader but not its owner, i.e. not an authoritarian dictator at the top of some hierarchy that I imposed because I own the company. That does not excite me. That is only ego. Being part of a team that is serving a brand does excite me.
My why for entrepreneurship is the independence of it.
- If you started a business or want to, why do you want to be an entrepreneur?
- If you are currently working a "9-5" job, what does that job do for you?
- If you are currently searching for a job, why do you care about having a job? What is the specific motivator?
- If you have just begun a new hobby or are continuing an old one, how does that hobby serve you?
The reasons are different for everyone, and your unique reasons dictate your satisfaction with that pursuit. Take a minute to answer a question for yourself.