Tuesday, June 28, 2011

Random thoughts for Entrepreneurs

I am sitting here at my desk looking at the sunny skies (a change for us with all the rain here in Southeast Missouri) and thinking of the recent increase in entrepreneurial traffic I am experiencing in my center. It is like someone left the tap on and the drain is clogged with the increased traffic via phone, email and in person.

As I think about the time when I had my own business - yes I got bit by the bug and became an entrepreneur out of necessity. The advertising agency I was working for had closed down, I had no job but thought staying in advertising was what I wanted to do. So I opened shop and went after it. I can honestly say, I wish I knew then what I know now because I would have been successful maybe.

I got out there and talked to previous clients and the media about me buying their media for them. I knocked on a lot of doors, had several hours of meetings and very little results. As I look back, I chuckle at myself and think "how stupid I was."

I did not consider registering with the state, buying insurance, writing a business plan - I did not know anything other than I wanted to open my own media buying shop.

Well I did and in 6 months, I closed shop and went job hunting. Does not sound like a good example for a small business development counselor to admit to in public. It is kinda like admitting I imbibe in adult beverages in front of my mother at her Southern Baptist church.

But I learned from that experience and it provides rich examples for my clients when we talk about are you ready to be an entrepreneur, is your house in order and the many other necessary actions you have to take and consider as you start up a business. I often think back to my personal experiences when I am working with a beginning client and relate my story and question them. Sometimes we uncover decisions that need to be made and other times, we move forward because they have done their homework.

Needless to say, as a entrepreneur, you need to be prepared to face challenges, surprises and take the turns with a roll. I know I did when I decided to close down the advertising firm because I really wanted to do it but I did not have enough business sense to do it. If I had sought out the help of a local counselor or mentor, who knows.

Now when I got involved in the bar business...well that is another story for a later blog. Send me your examples of entrepreneurial turns and let's talk and share. Until next time...

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