Sunday, October 11, 2009

Entrepreneurs & Small Business Fears

Entrepreneurs - An interesting and eclectic group of individuals. Driven, self-motivated, focused and goal oriented professionals choosing to follow their passions, realize their dreams and forge their personal trail to success. Through 100's of networking events, conferences, workshops and business dinners, I have had the priviledge of conversing with amazing individuals and am constantly impressed with their intelligence, willingness to offer insights, as well as their openness in talking about the challenges and concerns they face. The topics of these conversations ran the gammut from marketing and branding strategies to hiring and managing a sales team. Cash flow, hr issues, insurance, liabilities, overhead, vendors, creditors, competitors, internal issues, politics and the economy - the numerous issues they face on a day to day basis is unending. Whether they have been in business for several years or have just recently begun, each has a wealth of experience to draw from with insights to share. The opportunities before them are limitless, curbed only by their own imagination, energy and time constraints. They run their businesses any way they choose, build relationships, partnerships, and most have employees to support their efforts. There is a sense of accomplishment, satisfaction and pride that these entrepreneurs enjoy in the knowledge that they created their universe, they did it. Oh, there are headaches - small inconveniences, tougher challenges and the fear of failure that runs through the mind of these entrepreneurs. For each victory, every client satisfied, each project completed that exceeds expectations - there is also adversity. Maintaining a balancing act whose proportions seem to grow more strenuous as their business grows is constant. Donny Deutsch (host of The Big Idea) once asked a guest " you believe you have to be a mean person to be successful?" He wondered if it was possible to be a "nice guy" and be successful... Perhaps editing the question to be more specific would work better... " you believe you have to be a focused, goal oriented individual with unlimited energy and drive who is able to maintain an even temper and make tough decisions while providing a motivating environment in which employees are empowered to do their jobs to the best of their ability is important to becoming a successful business owner?" You can't possibly make everyone happy - it can't realistically happen and you shouldn't bother attempting it. Not every client is going to give you rave reviews and not every employee is going to take ownership and pride in their jobs. The best any entrepreneur can do is their best. The top four issues on the minds of these entreprenuers included whether or not to provide 401K plans; union headaches; insurance reform; and taxes. I searched the internet for an informative article that covered each topic and found the following for your information: To our continued success - Debra