Have you ever thought about starting your own business? Many professionals have had the thought of going out on their own, controlling their own destiny and reaping 100% of the financial rewards. Many of those same professionals never take any action on creating their own businesses because they have been trained to believe it is a high-risk proposition. Those beliefs get confirmed when you start sharing your aspirations with family and friends and you begin hearing, “Shouldn’t you choose a path that is a safer bet?”
We have been trained to believe, in the United States, that a ‘safe’ career path equates to positions in Corporate America with base salaries and health care benefits. However, the landscape for Corporate America has forever changed and because Corporate America has changed so significantly many high level professional are considering maximizing their talents by consulting. The Bureau of Labor Statistics reports between now and 2026 the consulting field will grow by an estimated 14% (faster the average).
So if lower than expected risk and higher than expected financial return aren’t enough to improve opinions on entrepreneurship, Bruce Gibney and Ken Howery (writers for HBR Blog Network) add “people who start their own (business) tend to actually like what they are doing.”
There is never a guaranteed ‘safe’ path. Corporate America continues to makes changes. The new conversation is “how will AI impact my industry and my role?” There will always be something coming down the road that generates change.
However, there is no question what we do know is the conventional career model has significantly changed. So is the path to entrepreneurship the right path for you? Here are eight thoughts for you to ponder and answer either true or false.
- I enjoy learning and adapting to changing circumstances.
- I dislike doing the same thing repeatedly. Variety in my work is important.
- I am confident in my commitments.
- I am comfortable with taking some level of risk.
- If I run into a challenge, I do everything I can do to solve it quickly.
- I enjoy working with individuals and teams.
- I enjoy helping others achieve their goals.
- I am known for taking the ball and running with it – I love to take initiative.
If you answered true to four or more of the statements above, you could thrive as an entrepreneur. Give yourself permission to explore the idea.