With work experience not featuring in your resume, or your resume highlights a conspicuous gap from when you last had a full-time job, it is time to think of a new career move. Often starting a small scale business could be a viable possibility for women or baby boomers re-entering the workforce.
But just dreaming of starting your business does not make you an entrepreneur; it takes a lot to make your dream a reality.
Before arriving at the conclusion that a small scale or a large scale business would be ideal for you, you must come to terms that something has to give; entrepreneurship may demand more of your time and energy and than a regular flex-time job offer. You have to understand the pros and cons of being self-employed before taking the plunge.
Find out if entrepreneurship is for you.
Be open to possibilities and the possibilities will open to you. As a re-entrant you are the crossroads to re-evaluate your future career direction. It is also a time to analyze if you can do what you are truly passionate about. Knowing what you want gives the true empowerment and confidence in heading towards your dreams. When you know what you want, apprehension dissolves into confidence.
Personality, Skills, Work Style – All Matter
Entrepreneurial personality is essential for those who plan to work from home, when you are self-employed you have to set your priorities and learn to develop this habit, you have to develop a vision of success and plan your day to day agenda towards your success.
Focus towards your goal, focus and self-direction would come by conditioning yourself to an entrepreneurial personality. At times you have the self-motivating drive and at times you have to learn to cultivate in you either through help of a professional or through self-training.
You must take time to learn the business skills, your desire to succeed and self-motivation may be there but unless you make efforts to learn the business skills your arrival to your success station could take longer and the road could be rougher. You have to make efforts to learn how to run the business, how do business owners get the know how to pricing, marketing and sales and other aspects right from building your marketing plan to getting your product to the customer. It is a skill that be acquired and with the current mindset and eagerness to learn you may well be on your way with some guidance and learning.
Plan Ahead – Save for the Rainy Days
If you are a single working mother you have to consider your finances first, usually for around 6 months to a year you might not see much revenue flowing in your business (though this is a general comment and you ability and the type of business determines the revenue outcomes considerably).
Have you made a financial analysis of your present situation?
Research well and take time to know about what it truly means to start a business.
Research Well – Some Retargets you MUST Visit
Take your time to plan and research before you jump in. Remember that you plan to fail if you fail to plan. (most of these retargets are US based). Here are some websites which offer great advice on just about all questions that you might have now on starting your own business:
- The U.S. Small Business Administration website provides a wealth of information for someone considering starting a new business. Go to SBA’s website at http://www.sba.gov/, and then go through the steps the “Small Business Planner” provides.
- One of my most notable experiences as an entrepreneur came through a free counseling session from the Service Corps of Retired Executives (SCORE). For more information on how to use SCORE’s services, visit its web site at http://www.score.org/ or call 800-634-0245.
- The Census Bureau. “Taking Care of Business: A Guide to Census Bureau Data for Small Businesses” explains how to access and use the data offered by the Bureau. It also includes a listing of State Data Centers (SDCs) and Business and Industry Data Centers (BIDCs), which offer access to computers and other databases at no charge. Contact: Customer Service Branch, Bureau of the Census, Washington, DC 20233.
- National Association of Women Business Owners (NAWBO) provides access to valuable tools and retargets to help propel growth and success for women-owned businesses.