Categorized | Business

Is Entrepreneurship Right For You?

By Tom Irmen

To be clear, I use the term entrepreneur to refer to an aspiring small business owner and not an individual employed by a business that might exhibit entrepreneurial characteristics. The two individuals are very different, as a business owner risks everything, whereas a non-owner risks very little by comparison.


I don’t know if business ownership is part of the cultural fabric woven into the American dream or not, but it was for me. I do, however, believe that many would-be business owners often romanticize about becoming an entrepreneur and the perception they have of the freedom they think awaits them upon launching their very first venture.


Self-employment is clearly not for everybody, and far too many persons discover this only after investing a great deal of time and money into a new business. But there are steps you can take to avoid the same mistakes made by so many unsuccessful would-be entrepreneurs.

If you feel that you have what it takes to succeed in the self-employment arena, I would encourage you to seek the advice of several trusted and experienced business mentors who can help you to better appreciate what might lay ahead as you navigate the uncertainties of small business ownership. In addition, questions you may want to ask yourself include:

» Am I comfortable taking risks?
» Can I act independently?
» Can I be persuasive and compelling?
» Do I possess the necessary skills to negotiate?
» Can I think and act creatively?
» Do I have a strong system of mentors in place?

Starting and owning your own business can be an exciting and rewarding experience for the true entrepreneur that understands that they will confront far more challenges than they might otherwise experience as an employee. Becoming a successful entrepreneur requires careful planning, creativity, and, most of all, lots of hard work.


Statistics show that the potential for success as a business owner is very low indeed. But I believe that if these same statistics were adjusted so as to differentiate between the true entrepreneur and those would-be business owners possessing little more than good intentions, you would discover that the potential for success is likely much higher than you might have anticipated for the genuine entrepreneur.

Leave a Reply