Do you find yourself daydreaming about going out on your own and forging ahead with starting your own business? How often have you thought about it? Do you know the steps that are necessary to make it happen? Believe it or not, one of the best training grounds for being an entrepreneur is by working as an employee. Here’s are some questions to ask yourself:
How are you at mastering tasks? The next time you are at work, pay attention to how long it takes you to complete a task. Do you prefer and enjoy working independently, or do you find yourself preferring to work with a team or another person? Entrepreneurs like to work independently. They enjoy creating their own work schedules and time lines. Many times, entrepreneurs have to make things happen by themselves, because oftentimes they do not have the support of a team.
Do you have long and short term goals? When you are working in someone else’s company you are expected to achieve the goals of the company’s. But, when you work for yourself, you need to set your own goals and have a plan of action in order to achieve them.
Are you a self – starter? When you are at work do you find yourself needing some prodding in getting assignments started, or are you motivated to do things on your own? Starting things on your own as an employee can make you a stand out, especially if you are trying to impress your supervisor. But when you work for yourself, there is no one to impress — but you. As a matter of fact, many times, if you don’t get things started on your own, it won’t get done. On the flip side, as an employee, there might be someone else who can help you get your project started. As an entrepreneur, many times you will be in charge of not only getting the project, started but also finishing it by yourself. You have to be self –directed and self – motivated.
Are you wise with managing money? As an employee, you make a salary. Your employer determines what you are going to get paid based on your skills, and also has the authority to decide when you will get a raise. If you live paycheck to paycheck, it works a lot easier when you are assured that the same amount of money is going to come in at the same time each week or month. However, when you are an entrepreneur, often times, there are no guarantees or set schedules as to when you will get paid. If you are just starting up a company, it may takes months before you see a paycheck. Also, when you are an employee, you do not take on the sole responsibility of making sure that the company is profitable. However, when you own your own company it is your responsibility to know your bottom line. What is it going to take for you stay afloat and what will it take for your company to thrive?
Measure success – Your employer can give updates on how you are progressing. They can even assist you in your efforts in making sure that you stay on track. Or they can terminate you if your success metrics do not measure up to what they hired you to do. As an entrepreneur, you set your own measurements for success. You implement your own strategies and give yourself realistic goals and expectations so that you can obtain these goals in a reasonable time frame.
Creating your own paycheck – As an employee, you can receive benefits, retirement and vacation and a regular paycheck. When you own your own company, you are responsible for your own taxes, and all of the risks that go along with being held fiscally responsible for your business.
Professional worth – As an employee, your employer determines your financial worth. As an entrepreneur the sky is the limit because you can determine how little or how much money you want to make.
So, what are your thoughts? Do you think that working for someone else is a helpful way to learn how to start a business?
Things to think about
- Being an employee lets you compare what it’s like to be in someone else’s show before you “star” in your own.
- Working for a company allows you to see how things are run without any personal or financial risks. You have an opportunity to evaluate how you operate as an employee, and really be honest with yourself as to whether or not you have what it takes to be a business owner.
WOYN Tip: Whatever you decide, use your experience as an employee as a litmus test to see how you would really be if you had to be in charge of everything — without the security of a job and a steady income. WOYN would like to know how things work out. Keep us posted!