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Is Self-Employment Right for You?

You might be surprised to learn that over 90% of the clients who come to see us for career counseling express a strong desire to be self-employed. That's a very telling statistic. Often, we hear individuals employed by organizations tell us they're frustrated by such issues as "lack of leadership", "stifling bureaucracies", "micromanagement", "lack of camaraderie and support" and "the inability to fully utilize skills and abilities." Creative energies thwarted, they seek counseling to determine if their issues are their own - or their company's. Typically, it's a combination of the two. Corporations and organizations have the massive responsibility of generating substantial revenue, appeasing their boards and keeping both their internal and external customers happy. A daunting task, in my opinion, and one which I think most companies diligently attempt to do well. While many individuals thrive within the structure and protocols of corporate environments, others come to experience, often after many years of climbing the corporate ladder, the classic "square peg in a round hole" syndrome. Suddenly, they begin questioning whether or not their career is a good fit and if, perhaps, leaving it all behind to start their own business might be a viable possibility. It's not uncommon for people to experience a significant shift in their value system, sometimes as early as age 30, but more frequently around the ages of 40-45. The desire to make a difference, help others, have more time freedom, make decisions, take risks and realize a life purpose is often the catalyst that launches a new business. How do you know if it's time to spread your wings? Ask yourself the following questions: 1) Do you feel stifled in your current career and/or work environment? 2) Do you feel as though you've accomplished all that you can in your present job? 3) Do you often find yourself giving professional advice, direction and guidance to your     superiors as well as your peers? Do you see solutions before others do? 4) Are you drawn to publications and other media that focus on self-employment,     entrepreneurship, management and leadership? 5) Do you visualize yourself running the ship? 6) Are you often bombarded with ideas for business ventures? If you answered yes to 3 or more questions, you are definitely a candidate for self-employment. Now, let's take a look at the intrinsic factors that make a successful entrepreneur. OPTIMISM Can you be totally positive about yourself, your skills, and your business idea? Do you truly believe in yourself?     ENTHUSIASM Do you have stamina to work long hours and maintain a positive demeanor?     SELF-RELIANCE Do you have self confidence, a belief in your ability to achieve goals, and a sense that events in your life are determined primarily by you?     CALCULATED RISK TAKING Do you feel comfortable knowing that you may not have a guaranteed income while your business is getting off the ground? Do you feel OK with the fact that your business depends solely on you and your business decisions?     HIGH GOALS Can you set and reach goals that others may find too difficult or challenging?     PROBLEM SOLVING SKILLS Do you have an intense and consistent desire to drive toward completion of a task or solve problems?     COMMITMENT Can you make a long-term commitment to your business and to creating success which may take 3-5 years?     TAKE CHARGE ABILITY Do you seek and take initiative and assume responsibility for the success or failure of a project     TENACITY Can you grow and learn from setbacks? Do you handle setbacks with maturity and not become frustrated, angry, or discouraged?     NURTURING SKILLS Can you effectively identify and utilize the abilities of others? Can you delegate effectively?     SALES SKILLS Can you sell? Can you convince others that you have something they want / need and influence them to take action?     Even if you believe your scores are not ideal, it may still be a wise option for you to consider the self-employment route. There are no hard and fast rules here - only the desire to create and manage your own picture of success, whatever that might be. Due diligence is key, as is culling a team of savvy advisors and support personnel. If you think you have what it takes, it's never too late to go out on your own. The experience alone will catapult your career - and your life - to an entirely new level.

Debra Davenport, PhD, is a Master Professional Mentor and the president of DavenportFolio, a licensed firm with offices in Los Angeles and Phoenix that mentors entrepreneurs and professionals. She is the creator of the Certified Professional Mentor® designation and certification program and the author of The Ten Commitments of Highly Successful People. debra@davenportfolio.com or (866) 232-6492.

 

 

     

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