Should I start my own business?

Dear Wendy:

你好!

我是河南尚宇新能源股份有限公司的一名员工, 叫Brian.

关于个人的发展,年轻时自己一直想自己创业,但是不知从何入手,也没有什么好的项目。现在自己从事的行业也不好,想自己出来创业,但不知该怎样规划自己的创业之路。所以想请教吴女士:我个人的创业发展怎样规划?

Dear Brian,

 

Here are 3 questions you can to ask yourself before you make the decisions.

 

  1. What is the “must achieved” in your career?

It can be an idea, a service and be a value you like to bring to others, or a change you like to create?.. or even lifestyle..you like to spend more time with your family..

 

It needs to be “must achieved”, otherwise you rather not live..

 

  1. If you have one, do you believe you can build the company that achieves the vision better than anyone else?
  2. Are you still excited after you answered those two questions?

 

I can tell you 1000 reasons you should start your own business and another 1000 reasons why you shouldn’t. Well, they are not going to help…seeing lots of people moving from corp to entrepreneurs and moving from entrepreneurs back to corp.  I think there are lots of blind spot or so to say.. over-gloried Hallow regarding “starting your own business”

 

For me, starting your own business is like making your own cake.

It’s your son’s birthday, and you need a cake.

Option A.

You can go buy one in the supermarket, quick, easy, very predictable.

Option B.

your can order one from the gourmet pastry shop, it’s going to cost a bit more, takes longer, but you know that your son doesn’t like chocolates. It’s hard to find a cake with out chocolates in a regular supermarket.  So you are willing to pay more in this pastry shop.  You can get a strawberry one.

Option C.

Or,  you can choose to make it yourself.  It’s quite possible that it will cost a bit more than option A., You might not be the best cake chef.  But you really want to put Kongfu Panda face on top of it.- which is your son’s favorite character.  The only way to make it yourself.  hm… maybe even more expensive than option B, actually you don’t know until you finish the cake.

This scenario involves the highest risk and also might be cost as well.(at least for first year..)  Well, but you might be most fulfilled if you really cannot find the kongfu panda cake. And you are really determine to give your son the cake with gongfu panda.

 

I think people can be happy & successful starting your own business or not.

There are a lot of traits stability that can help you be a successful entrepreneurs.

They are:

  1. Have a burning passion
  2. Have a burning passion.  When it’s not realized, that you cannot live without

These two need to be within, you cannot learn or buy.  You either have it, or not.

Other helpful factors are:

l  A team that complimentary your style/competency and you trust

l  A sustainable funding before your business make money

l  A business model that is scalable

l  Be in a booming or healthy industry & economy

l  Have support from your family or friends

 

if you don’t have a “must achieved” idea or wish you like to fulfill, than you don’t have a burning passion. It’s ok. Maybe it’s really easier to buy the cake in the supermarket.  You can still host a cool birthday party.  There are many other opportunities you can demonstrate that you are a cool party.  It doesn’t need to be the B-day party.  Just like career is only part of our life.  You can realize your dream here, or in any other aspects’.

 

If you do have a strong desire to achieve in your career, shop around.  Maybe you will find a big corp or enterprise already shared your vision and already got the resources you need. Maybe they are also looking for talents like you.  It doesn’t hurt to find out more about the existing opportunities.  If you have a clear idea what you like to achieve, and there are a group of people doing it the way you respect and going towards the direction you also aspire.  Capture the opportunity!

 

If you have a burning desire, and you really need to see it happen.  Or you feel like life is not fulfilled.  This is the time you should seriously think about starting your business. Look around, any good model around?  Do you believe the value you can bring to this world can be unique enough? Or scalable to make it as a business?  (I mean you will need to start making the any carton character cake to any kids favorite idle to make it a sustainable business..: P)  In the beginning, you will find lots of things doesn’t make sense.. you will spend more time, more money, and not getting lots of return.. you will ruin the work-life balance.. and unpredictable challenges will happen almost every day.  But if you have a strong burning desire to realize.  Everything will make sense at the end.

There are 600,000 new businesses are founded each year.  95% of them die before year 3.  But that factor doesn’t stop new business coming up. After all, I think there is only one thing that cannot be replaced as a business owner.  That’s is energy.  The energy that fuilled by burning desire and a vision that brings excitement to your team when there is a sudden change, bring curiosity when there is unknown ahead, and brings courage when things goes really wrong.

 

So, are you still excited now?

 

 

Your curious,

Wendy

 

 

Wendy Wu,CEO of  New Leaders Group
Founder of 6 seconds China- world’s most authoritative EQ research and development instituteIn the past 10 years, she has been focusing on leadership development consulting, had helped world and nationally renowned companies with Succession Planning, Talent Audit & Management, Re-Organization Strategy, Evaluating Talent Investment solutions.Beginning in 2010, Ms. Wu periodically answer various questions raised by readers of Fortune China regarding their careers and life. We welcome any reader to contact us with their questions, our email is JLIB_HTML_CLOAKING . You can also log in on www.fortunechina.com and raise your questions.