Last Updated Apr 19, 2008 7:53 PM EDT
Don't do it!
As anti-American as it may sound, the entrepreneurial life is not for everyone, probably not right for most. If you crave the following, you might want to remain right where you are.
- Stability. Sure, you could lose your cushy corporate job tomorrow, but for the most part working for The Man is a predictable, structured, pay-check-every-week kind of existence. Starting your own enterprise, by contrast, puts many of your personal financial resources at risk, demands long and unpredictable hours, and creates physical and emotional strain that can harm family life.
- Success. You already know the 80-20 rule: for every 10 companies started, eight fail. The odds are your new venture will flop. Entrepreneurs certainly don't crave failure, but they know how to deal with it and learn from it.
- Social interaction. Every office has its own social network, and toiling side-by-side with fun, smart people can be one of the joys of the work experience. Entrepreneurs don't chat with each other -- they hustle. As McGrath puts it, "It can be lonely â€" you're no longer part of a work team. Working from home, which many do, is a whole lot different than working in an office on a schedule."
- Are you comfortable stretching the rules?
- Are you prepared to make powerful enemies?
- Do you have the patience to start small?
- Are you willing to shift strategies quickly?
- Are you a closer?
Do you have what it takes?