The number one reason people opt out of entrepreneurship, which includes starting a business, being a solopreneur or even independent consultant, is fear. The wild west of entrepreneurship can come with a lot of unknowns as ambiguity and uncertainly is often synonymous with starting a business. It can be especially distressing for first time would-be-entrepreneurs to make the leap into small business as a result. The transitionary period from corporate life to entrepreneur, even the thought of this transitionary period, is marked with great concern and fear which keeps people from making the jump. For some it may be security at the current job, others it may be a lack of know-how in starting a business or simply a lack of self confidence in ones’ ability to make it on their own. Regardless of the reason, fear is a factor all potential and current entrepreneurs must overcome.
I’ve found the best way to overcome fear is to confront it head on. Fear grips us all, regardless of occupation, experience, background or capabilities. The difference between the people who let fear own them versus those who use it as a tool to achieve comes down to two things: acknowledgement and action. Rather than worry, it’s important we address our fears and understand them. When we take the time to acknowledge our feelings and emotions it allows us to better process why we’re feeling this way, at which point we can begin to build a strategy for using those fears as a motivating force towards success. Taking action against our fears comes in the form of slowing down, identifying your feelings, understanding the situation and then planning accordingly. If time is on your side rest easy knowing that you can plan to be an entrepreneur first before you ever jump in the ring. Create an attack plan, identify potential challenges and solutions on how to deal with them. While you won’t be able to plan for everything taking a proactive approach to dealing with fear and using it as a tool perhaps may be enough for you to finally make the leap into the world of entrepreneurship.
Key Take Away: Address your entrepreneurial fears head on, understand them and own it!
Action Item: Use your newly addressed fears as a guiding force to plan your entrepreneurial transition into being your own business owner. Build alliances, or peer groups, with other business owners to help with the transition while learning from their experiences along the way.
Interested in learning more about entrepreneurship and hearing stories from people who have made the leap into business ownership? Check out this event in Irvine, CA on 10/24/18: https://www.devicealliance.org/event/entrepreneur-event/
For the past 13 years I’ve worked exclusively supporting Orange County, CA ecosystem of growing Gigs. It’s been a while ride to say the least with endless learning opportunities along the way! In August of 2016 I wrote on a similar topic of how Gigs are changing our economy. Interestingly enough my perspective was quite the understatement as Gigs have done more than just change it, they’ve revolutionized it!
During my time working with Gigs and professionals alike I seem to find myself engaged in a variety of conversations having to do with professional guidance. I’m certainly no career counselor but have witnessed enough over the years to have noticed more than a few trends with the path and decision making an average career takes.
One of the most consistent questions I get from people I’m interacting with is…
“How should I go about transitioning to become a consultant [gig]?”
This question is interesting in of itself because the very statement overlooks a very important consideration: do we understand what the life of a full-time consultant is like?
As I’ve asked this question some have responded correctly, whereas many have fallen short. Not understanding what the life of a consultant is truly like doesn’t mean we’re a dunce, it just means we need more information before we can make an informed decision for ourselves.
Before you start considering leaving your comfy desk job for the wild ride of becoming a career consultant, or gig, be sure you think about how you feel and perform with the following:
1. SALES – every consultant that is successful understands this #1 fact – if you are going to be a consultant working on your own you’ll need to be able to sell yourself and do so often.
2. NETWORKING – similar to sales, getting your name and service out there is paramount to customers finding out who you are and what you’re all about. Networking is crucial because it helps builds trust amongst new relationships while building a wider circle of influence.
3. RIDING the ROLLERCOASTER – The life of a consultant if full of ambiguity, ups and downs. One minute you’re deployed doing well then next minute you’ve worked yourself out of a job and are scrambling to find the next project. Also, it’s common for projects to not be fully scoped out as the customer expects the consultant to come in and tell them what to do. This inevitably leads to a certain amount of ambiguity and risk taking.
The life of a consultant can certainly be exciting and equally fulfilling, especially if you’re seeking a change in your career. Once we know what we’re up against and how to be successful we stand a better chance of enjoying the ride along the way.
How do you know the decisions you make for your career are the right ones to make?
On February 20th DeviceAlliance and UCI’s Division of Continuing Education will take aim at the in’s and out’s we face throughout our careers in an event called ‘Medical Device Career Navigation’.
While we are all very different as people in our behaviors and our mindsets it’s remarkable how those differences bond us in similarity.
Many of us will experience the same decisions throughout our career. Do we take the money or the training? Prestigious titles versus meaningful work? Take a step back to hopefully take two forward. Be my own boss or work for someone else? Stay the path of employee or seek opportunities in management? Or even leaving a career to begin anew.
The answers to these questions are never easy yet we are all faced them! In this, a powerful opportunity exists - learning from those who have been there before.
On the 20th of February in Irvine, CA the event ‘Medical Device Career Navigation’ will embark on a journey through the entire life cycle of a career from college graduate to retirement, and everything in between. Attendees will hear from experienced professionals who represent three career segments:
As we work our way through each career segment we will hear and learn first hand from professionals who have been there and done it before. We’ll discover the lessons they learned, decisions they made and outcomes they experienced along the way. We’ll learn from their stories and have opportunities to inquire about our own situations to collect feedback and direction.
During this event we will also discuss structured processes for decision making, like ACIP. ACIP, or Alternatives, Consequences, Information and Plans, is a process for collecting information and understanding our options BEFORE we make a decision.
Utilizing processes like ACIP and others which are similar can help improve your decision making process. Combine that with experienced anecdotes from people who have done it themselves and we have a recipe for improving our chances of making the best decisions for ourselves while reducing regret or heartache along the way.
Save the Date: Be sure to join DeviceAlliance and UCI’s Division of Continuing Education on February 20th, 2018 at 5:30PM for an evening of learning and discussion on ‘Medical Device Career Navigation’. Event details and RSVP click HERE.
About the Author
Serving over a decade in the technical services industry in Orange County, CA, Travis Smith has developed a talent for assessing technical talent and overseeing technical projects. His other areas of specialty include: leadership development, business development, resource planning and creative solutioning.