I recently explored the things about entrepreneurship that are most scary and not so scary by polling some of the wonderful people I've had the privilege to work with. I'd like to introduce to them, then proceed into their wise words.
Jennifer McIntosh, MA, RRP, RCC, MCVP
J. McIntosh Consulting & Counselling
Christian Honetschlager
Draft Dodger Designs
Phil Saunders
Green Groves Bc
Seth Mennie
Monkey Tree Services
Many of the these insightful and hard working people had similar ideas about what scares them or doesn't scare them about entrepreneurship.
Scary No.1:
Jennifer McIntosh:
"You really can be your own worst enemy when self-employed; everything you do comes down to your name, your drive, and your commitment to the products and services that you offer your clients. Creating a healthy work environment and healthy work boundaries are paramount and it's easy to over due it sometimes."
Christian Honetschlager:
"Unknowns. I find an exterior confidence is easy; I've lead and managed large teams in a corporate environment for years - you never let those that work for you know the unknowns. When it's just you however, there's no withholding information."
Phil Saunders:
"You have to learn from your own mistakes because each individual's experience differs."
Seth Mennie:
"Did I make the right choice? Is all this work worth it? It becomes a battle with yourself and your goals. Never easy, always scary."
Scary No.2:
Collectively, finances ranked high on entrepreneur's list. This seems to be the single unifying 'scary part' of entrepreneurship. Here's what they had to say:
Jennifer McIntosh:
"Not knowing when my referral sources will pay me can be anxiety inducing. Most are generally good, and payment is received within 1 month or so of invoicing, however it is not as cut and dry as being a salaried employee."
Christian Honetschlager:
"A steady pay check - When you have your bi-weekly direct deposit you know when and where you can use your money. Personally, the reward isn't always satisfactory knowing that as long as you show up and make an effort, $XX will be in your account every other Friday. Not knowing when or where the next buck will come from presents huge fears. You can't pay rent on hard work if you're not making money."
Phil Saunders:
"Entrepreneurship is scary because it is a new fiscal experience that has many unknown factors."
Seth Mennie:
"Financially, it comes down to dept management, and understanding how to dept can work for you. There are two kinds of debt, positive and negative. Knowing which is which will be the difference between success and failure, from an economical perspective. Dept is the risk you take to expand your business."
Scary No.3:
Jennifer McIntosh:
"You are left to truly fend for yourself; work referrals are not guaranteed when you're self-employed."
Christian Honetschlager:
"Relationships often develop quickly, and fade out just as fast. Knowing where to place your energy isn't a science; relying on gut instinct can take you places, or send you back to square one.
Phil Saunders:
"It's always a little scary figuring out if the path you've chosen is the right one."
Seth Mennie:
"Finding people who can share your dream while progressing on their own. Since I have a great crew to work for me, I have moved through much of this fear in my business, but the question always remains."
Now that I've frightened you a bit, let's move into something more positive.
Not Scary No.1:
Jennifer McIntosh:
"I decide my work schedule and vacations - no outside approval necessary."
Christian Honetschlager:
"You get to deal with every issue up front and personal to deliver your individual success."
Phil Saunders:
"Self reliance is a liberating thing."
Seth Mennie:
"No more excuses or bullshit. Why should I be scared of being in charge of myself. This is what a lot of new entrepreneurs fail to do; Stop making excuses and focus instead on not needing them in the first place."
Not Scary No.2:
Jennifer McIntosh:
"I get to travel around for the consulting work that I do; I feel independent and in charge/control of my work and life."
Christian Honetschlager:
"Finding an individual or group with shared interests/energy can drive an idea forward faster than you could have on your own."
Phil Saunders:
"New challenges make you grow as an individual."
Seth Mennie:
"Being honest with yourself about your limits, goals and ideas. Owning your insecurities so you can have the life you want."
Not Scary No.3:
Jennifer McIntosh:
"I believe in the work that I do; I believe in myself. If referrals and remuneration are not necessarily guaranteed or held to a timeframe, belief and hope to advocate for, and support myself, are on reserve, quite joyfully! That's the really beautiful part, I think. "
Christian Honetschlager:
"The joy and absolutely most satisfying part of an entrepreneurial endeavour is receiving payment, joy and satisfaction both on your part as well as the receiving end of your product. Nothing feels better than to see someone else excited about your product."
Phil Saunders:
"Its great to have a project to focus your energy on."
Seth Mennie:
"I can take action and see the results as soon as I complete the action. I don;t have to wait for others to make the decisions on my own actions."
In conclusion, entrepreneurship is scary. It should be, otherwise everyone would do it, but it isn't as scary as it feels nor is it as easy as you want it to be. Work hard, be mindful and as always, aim to make the world a better place with your ideas and ambition.
I want to thank all the entrepreneurs who took the time to offer their answers and insight. Please take a moment to visit their respective sites and see how they can help you.
Contact The Red Rabbit Studio for a free chat:
Vancouver, Canada
studio #: 1.778.786.1209