Some days, like most of you reading this, I shake my head and wonder why anyone would want to become an Entrepreneur. As a Business Growth Expert, I see the full range of Entrepreneurs from brand new Start Ups to thriving seven figure businesses. 25% of all North Americans run their own business either full or part time, and they find themselves on the entrepreneurial journey without ever really realizing how it came to be. Let’s take a look at why many choose the entrepreneurial path, even though they know that it could be, and likely will be, a rocky road at some point. Where are you on the Entrepreneurial Success Continuum?
- Financial Freedom – I hear this one a lot. People are living much longer and the big pension plans no longer exist. Many folks join the entrepreneurial ranks simply to supplement their income. The rise of Multi-level Marketing companies is strong proof of that. Even if you make it to retirement at age 65, you could still likely need to support yourself for an additional 25+ years. Running your own business can provide you with some supplementary income for as long as you choose.
- Forcepreneurs – So what exactly is a forcepreneur and why are their numbers growing so quickly. Quite honestly this is a category of people who for whatever reason can no longer find employment, in a role of their choosing, within the “corporate” space. Global competition, the virtual world, downsizing, whatever the reason many find themselves “forced” to start their own business in order to generate a sustainable living for themselves. Obviously they always have a choice, but many go down this path when they have exhausted most other options. Job security seems to be a thing of the past so more and more are joining the ranks of the forcepreneur.
- Intrapreneurs – This category on the entrepreneurial success continuum is somewhere in the middle of the pack. So who are these folks? Predominantly they are a group of people who run their own business, but do so under a large corporate umbrella brand. Think of financial planners, insurance or real estate agents. They may work for Sunlife or Remax, and they have the benefit of using some of their brand clout and Marketing material, but they are still responsible for their own business development and customer retention strategies. For some, being an intrapreneur gives them the best of both worlds. They get the freedom that they want to basically run their own show, while maintaining an overall support infrastructure that they don’t have to reinvent the wheel.
Regardless of where you may find yourself on the Entrepreneurial Success Continuum or even if you haven’t jumped on board yet. Whether you climb on a full time basis or even just dip your toe in the water part time, this is the way of the future. Disruption is happening in every industry across the globe and many folks have decided that the time is now to control their own destiny.
