by Dianne Shaver, M.A., Business Coach
As the job market continues to be difficult and corporations having record profits but worker's pay staying at the same level, more people are looking at starting their own business. The big push for entrepreneurship came during early 2000s when corporations downsized, business closed and many executives found themselves without jobs. In my mind it was a blessing in disguise because for the first time many people who where following someone else's ideas and business model began to use their own creativity, experience and expertise to build something of their own.
As the younger generation look at their future its clear that many of them will be opening their own businesses. Decades ago a college grad could almost choose anywhere to work they wanted. Not so anymore. So what better thing to do then to teach students how simple it is to take an idea and make it into a business. Universities and colleges are offering courses in entrepreneurship. High schools and middle schools are following suit. It's never too early to look at the world through entrepreneurial mind set. It allows people to use creativity and innovation they could not have used in a corporate job. Or, if they did, as in the case of 3M and the post it note, the person inventing it had to sign it over to the corporation and never received benefit from it.
Entrepreneurs take an idea and make it into a business by looking for a customer need that isn't being met. Often it's something that came out of their own search for a product or service just to find it didn't exist. Or they took something that already existed and made it better. If your are 8 or 80 you can start your entrepreneurial business. It's never too early, it's never too late.
Bootstrapping is an important part of entrepreneurial start ups. Keep finding ways to make it better all the time by building on what you have created. It means finding innovative ways to get what you need whether it's bartering, strategic partnerships or finding a way from sheer persistence and ingenuity. Later on when you are ready for an investor so you can scale your business they will be looking to see how much you did on your own because that lets them know you have the vision, persistence, determination, commitment and you know your business and what it needs. They are much more likely to take you and your business seriously and want to invest in it when they see how much you have done on your own.
If you allow yourself somewhere inside you is a good idea for a business. Go for it! Become an entrepreneur!