This blog post is dedicated to the side hustler, hobbyist, dreamer and even the entrepreneurs that need a little pick me up. It’s about how I found my way to being an entrepreneur.
2013 was a big year for me. I opened a community Bike Shop called Lucky Bikes ReCyclery. For years I had been leading a non-profit organization and was very passionate about building a social enterprise that would fund the mission. It was to be my legacy.
The other big thing that happened that year was I finished a Master’s program in Organizational Leadership. And if you’ve ever heard me tell the story, I joked for the two years I was in school that I would get a job at Google pushing the coffee cart and double my salary. This was an especially big deal for me because I had been told by educators my entire academic career that I was not able to learn (literally not able to learn!).
The thing I hadn’t planned for was how little my life was going to change after I finished that program. I was so proud of myself for all I had accomplished, but I had no idea how I could make my own life different. I called the university and asked them what I was supposed to do with my degree and they said consult. That was literally the first time I considered working for myself. And while I wasn’t quite ready yet, the seed was planted.
Fast forward a year later, Confluence Business Solutions was born. I literally went from being an employee one day and a business owner the next. And like so many others my email list consisted of my BFF and my mom. And I had no idea what I was doing.
But just because you filed all the legal documents and picked a business name, does that really mean you’re an entrepreneur? Am I really built to be an entrepreneur? These were the kinds of questions that I grappled with.
I had so much insecurity and immediately started diving into all the learning I could about being a business owner…not so much things like how to do accounting, or how to get clients, but more the emotional and personal identity. I was looking for something that is about the equivalent of a quiz that tells you about who you’re going to marry based on the type of coffee you drink. I was seeking some kind of validation that simply wasn’t there.
I was not an overnight success.
For the first several years, I did what many other start-up entrepreneurs do. I went and found contract work. I was still self-employed. I had multiple contracts, but it felt like entrepreneurship on training wheels. I wasn’t full-time, made my own hours, and assumed all the tax liabilities, but I wasn’t developing programs and and the contracts were very much driving the agenda.
I was afraid, but I couldn’t really put my finger on what it was I was so afraid of. I was afraid someone was going to look at me and say something like well you don’t look like an entrepreneur. Like I was going to get found out…nowadays we call this imposter syndrome.
And I spent a lot of time looking exactly where I didn’t want to go..the 55% of small businesses that fail in the first five years. I really didn’t want to fail.
As time went by, I honed my understanding of what it meant to be a business owner and built clarity around what it was that my business was actually doing. This took time and more importantly, it took trial and error. And while I’m sure there are people out there that have an idea and just go for it, never deviating from the path. That was not the case for me and I think it’s important to mention that it’s not the case for many.
Over the course of the nine years I’ve been in business there’s been the ups and downs, there’s been the “what the heck am I doing with my life!”?? and the “stop the train, I want to get off!” But there’s also been, moments of crystal clear clarity, that I’m doing exactly what I’m supposed to be doing and sheer wonder at how far I’ve come.
I think this picture sums up my experience and that of so many others:
So, was I born to be an entrepreneur? I’m not sure. I wasn’t the top girl scout cookie seller and I’m pretty sure I ate all the candy bars I was supposed to be selling for the school fundraiser. But somewhere along the way, I stopped worrying about whether I was cut out for it and decided I was going to BE an entrepreneur. I stopped worrying about the identity of entrepreneurship and focused on actually doing the work and having something to show for it, regardless of the outcome.
So if my story resonates with you, or if you’re sitting on the outside looking in and wondering if you’re capable. Or if you’re in the thick of it trying to decide if you should keep going, below are a list of a few things to think about when it comes to being a successful entrepreneur.
Qualities of an Entrepreneur
IMPORTANT: First, I do not believe this is a conclusive list so add to it what you see fit.
Second, you do not have to be born with any of these qualities, but you do have to be willing to learn, take them on, and get ok with them, as they are non-negotiable.
Visionary – Entrepreneurship requires ideas. If you’re constantly looking at others to tell you want to do and where to go, you’ll forever be taking direction from someone else. If you haven’t started your own visioning, take time and work this muscle. For some, especially if you’re coming from a background that’s very rigid and did not promote free thought or critical thinking, this may take some practice. It’s also likely the most common trait that leads entrepreneurs into a business of their own.
Risk Tolerance – One of the most valuable lessons I’ve learned is to get used to being uncomfortable. For a long time, I told myself that I’ll be less stressed when I get to “x”. And a business mentor told me that’s foolish thinking. All that happens is the stakes are higher. You have to get comfortable with taking risks and living with the stress. This doesn’t mean you learn to live sleep deprived and with high blood pressure, but you get super clear on what risks you’re willing to take and where your line is at. Everyone has their own threshold for risk.
Self Motivated – I don’t hear people talk about this a lot, but it is so important! Whether you look at this from the perspective of what you do for your business or what you do in your business. For me, I don’t want to look back on what I’ve accomplished and feel like I could have done more or better and there is no one telling me to go to work. It’s not about rushing or urgency, but setting my own goals and motivating myself to achieve them. It’s also about knowing that my clients are counting on me and I will not fail them. Their trust is of utmost importance and I need to do the work to maintain that trust.
Resilient – The picture referenced above says it all. You’re going to have good days and bad days. You’re going to have business setbacks. You’re going to have moments where you’ve completely over it and just want to go get a job! Resiliency means that through all of this, you keep going. You learn from your mistakes, challenges or setbacks and use those as tools to make you and your business better.
Sales – Ok, so I stuck this one in here because it’s again so important. If you don’t consider yourself a good salesperson and you’re starting or are in business, then you have to get ok with sales. You cannot start a business and pass this duty off to someone else. I also believe that this is a constant work in progress. The more you develop your sales skills the better you are to close deals (obviously) but also train someone else as your business grows.
What does failure look like?
Looking back, I wasted a lot of time worrying about failing. I think it slowed me down and kept me from taking risks that might have been worth taking. It was years into business ownership that I realized this. And it inspired me to do some much-needed soul-searching on failure in business. For me, it was simply giving up. It was giving up on my dream. I realized that I really did not want to go back into the workforce where I felt I would lose my autonomy. I didn’t want to be at risk of losing my job if I made a mistake. I really wanted to be in charge of my own destiny.
Once I was clear on how easy it was to not fail by my own standard, I was actually able to get out of my own way.
Everyone has a different idea of what business failure looks like. The great thing about being a business owner is that there’s no one to fire you from your own business. Commit to learning, commit to giving it 100% of your effort and keep going.
Do you have what it takes?
