Self-employment isn’t for everyone. Some personalities enjoy the routine, structure, and perceived stability of being someone’s employee. Others feel like a caged animal.
Those that dream of working for themselves but won’t take the leap generally fear they won’t be able to generate enough income to live, and that’s a reasonable concern. Here’s something interesting to consider:
A team of researchers once followed a group of 1,500 people over a period of 20 years. At the beginning of the study, the participants were placed in two groups.
Group A, 83% of the sample, were people who chose a career path based solely on the prospect of making money now in order to do what they wanted later in life.
Group B, the remaining 17%, were people who selected a career path to do what they wanted now, and would worry about money later.
At the end of 20 years, 101 of the 1,500 people became millionaires. Of the millionaires, 100 out of 101 were from Group B — the group that pursued what they loved.
Ask yourself the question, What would I do if money was no object? and check out this thought-provoking video about pursuing work you love.
Maybe passion isn’t enough motivation for you. Perhaps you’re a person who needs some convincing data to decide if you should take the plunge into your own business.
The Gallup organization has identified the top 10 talents of highly successful entrepreneurs. It’s unlikely you will possess all 10 strongly, but you can find out your dominant talents, and where you’d likely need some support to ensure success. The 10 talents are:
Definition: People who are especially talented in the Creative Thinker talent have a curious intellect that helps them constantly imagine new products, services, and solutions. They are quick learners who explore various options and consider novel solutions as they anticipate the future needs of their customers.
Definition: People who are especially talented in the Determination talent pursue their goals with tenacity. They are intensely committed to success and are eager to take quick action. They rely on high motivation to turn adversity into opportunity. They can see beyond roadblocks and visualize a better future.
Definition: People who are especially talented in the Confidence talent are keenly aware of their abilities. They harness this awareness to take quick and decisive action. They seize opportunities knowing they will succeed and use their talents to persist in the face of uncertainty and failure.
Definition: People who are especially talented in the Independent talent can single-handedly start and operate a business. They rely on high energy and extreme commitment to succeed in the grueling grind of business creation. They firmly believe their actions decide the fate of their business and are motivated to make things happen.
Definition: People who are especially talented in the Promoter talent speak boldly on behalf of their company. They consistently communicate a clear vision of their business to customers and employees. They are great salespeople with an ability to form deep relationships and convince others to follow their well-defined business growth strategy.
Definition: People who are especially talented in the Business Focus talent couple sharp business instincts and a fascination with making money. They have an uncanny ability to look at data from which they can form unique insights. Ultimately, they evaluate decisions through the prism of profitability.
Definition: People who are especially talented in the Risk-Taker talent embrace challenges with enthusiasm. They have a strong, charismatic, and confident personality. They naturally focus on the rewards of success instead of potential failure. They emotionally connect with customers and exceed their expectations.
Definition: People who are especially talented in the Knowledge-Seeker talent understand that information is a valuable asset. They have a deep desire to acquire knowledge about all aspects of their business. They search for new information to solve problems and succeed in complex business environments.
Definition: People who are especially talented in the Delegator talent can trust and empower others to help grow their business. They know what their employees do best and position them to take responsibility for tasks at which they are most likely to excel. They can relinquish control and focus on growing the business.
Definition: People who are especially talented in the Relationship-Builder talent have strong interpersonal skills that allow them to build a robust and diverse personal network. They rely on relationships to access resources and information essential to the success of their business.
If you’d like to take the EP 10 assessment to discover your entrepreneurial aptitude, you can find it here (scroll down to the very bottom of the page).
I’ve coached a number of people who just can’t seem to fall in line with being an employee and it’s usually because they have a strong entrepreneurial bent, so instead of helping them find a job, I helped them identify steps toward self-employment.
To some, the thought of starting a business can be exciting, scary, daunting, and thrilling all at the same time. If you’ve found limited satisfaction in your career, and feel a strong pull to go your own way, maybe it’s time to spread your wings and fly!
All the best to you!