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  • No Time For The Time You Need

    Remember, don’t panic, but move – and move with focus and hit your milestones. Before you know it – you want be working for someone else: you will be working for yourself.

    I was reading the Forbes article, The Realistic Road to Entrepreneurship, by Jamie Farrell, which examines some of the realities of starting a business. Not the realities that one is faced with after they’ve already launched the business: no, the realities of how to navigate the right path, while you are still in the process of going “live:” there is a difference.

    As Farrell stated in the article, “Dropping everything to start your own business sounds great in theory; but in the ‘real world,’ we have responsibilities.  We have mortgages, perhaps children, significant others, loans to repay, and tons of bills.  So while many of us may have the entrepreneurial spirit, we feel as if we can’t or don’t act on it….There are those who would argue, “then you are not a true entrepreneur.” but I

    Courtesy: Jorge Casais/PhotoXpress Free Images

    would respond, “I’m just a practical entrepreneur.”  So I began to think about whether the ‘good old fashioned story’ of “I started the company from my garage” or “I was on my last nickel, mortgaged everything I had for the business, etc” still held true in today’s society.”

    Unless your a 17 year old business owner, who still lives with his parents, most other potential business owners have both immediate and long-term obligations. Entrepreneurs in business are exclusively concerned with how to operate the business: they see growth through specific stepping-stones and they always have trepidation about financing, costs and salaries. But the person on the way to becoming an entrepreneur still has a life that is separate from the business: where they are either in the process of considering or actualizing their launch, so they have this duality of challenge to maintain what they have, while forging ahead towards what they want: it’s not easy – it’s damn hard, but doable.

    I started Upstart: Business and Management for 20-40 Year Old Professionals with a dream and passion, but it slowly came into focus – I lost much time and resource, by not being patient – and then by becoming too patient.

    Some suggestions on the way forward when contemplating your own business, while within someone else’s employ:

    1. Why – why do you want to do whatever it is you want to do: what will be unique about this offering – what value you can you consistently provide. I suggest you flesh out your rationale, and never move on emotion.
    2. What will be necessary: how will you strike the right balance between what you have to do now and starting your business?
    3. Will you need help, and if so – is this support as committed as you are, especially during the “lean” years?
    4. How much will it cost to launch: where will this money come from and how will you keep a minimum cash flow for operating expenses, while not neglecting your living and family expenditures?
    5. Time – you will have no more it: how do you delegate your time judiciously—precisely and make it work, without anything important being compromised – this is hard.

    No matter what you might think: plan and expect for the plan to be imperfect — for it to be a mess at times. Remember, don’t panic, but move – and move with focus and hit your milestones. Before you know it – you won’t be working for someone else: you will be working for yourself. Tell me what you think.

    Good Luck.

    Calvin Wilson
    Founder and CEO
    Upstart: Business and Management for 20-40 Year Old Professionals
    Calvin.wilson1@verizon.net

    Filed Under: Startup/Entrepreneur

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