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Becoming an entrepreneur
August 18, 2020 at 6:19 pm,
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Ten years ago, I lost my job and a friend of mine gave me the idea of starting my own business. Even though I had more than 15 years of experience in accounting, I was far from having the necessary experience to become an entrepreneur and especially to manage multi-enterprises as an accountant.
It is without knowing what I was getting into, without taking the time to think and do research that I jumped into the adventure with both feet and with my eyes closed. Being on employment insurance, I decided to take a Business Start-Up course. Excellent training, but it is far from preparing us for reality.
Following that training, a great lack of confidence in myself, I therefore decide to solicit the participation of a former colleague who would become my friend for the time of our association.
From the first few months, our company was a success. So successful that we became it’s victim. We were very quickly overwhelmed by the events. We were far from ready to face the storm that was our popularity. Our words were compelling and we were convinced when we met with our clients, but we were unable to deliver the work.
About five years later, we closed the company, our friendship ended, our finances were flat, and with my self-confidence already low to begin with, it was a total failure. It took me about three years to get back on my feet.
Following this adventure, I chose to return to work for an employer. I was far from wanting to go back into business one day. It was little by little that I realized that I was not happy as an employee. I wanted to be able to share my opinions, my ideas; and I took the company to heart, sometimes even a little too much. I came to understand that I had the entrepreneurial spirit but I had not previously taken the time to prepare before starting-up. It was 10 years later that I took the decision to come back as an entrepreneur but this time, by doing things right.
Therefore, before you start your own business, I suggest you think about the following points:
1. I am the boss
To be your own boss is to take full responsibility for the company on your shoulders, to take risks, to make your own decisions.
2. Feeling of Freedom
Becoming an entrepreneur requires a lot of time and energy. The first five years are synonym to hectic schedules. Fortunately, as the company grows, we become more organized.
3. Compensation
At the beginning, being an entrepreneur, often means no money earned. It is common to see entrepreneurs who are not paid during one, two, even sometimes three years, until the company is viable. After this period, the return on investment begins again slowly.
4. I like what I do
One thing to remember is to do what you love. Seeing your project grow is a bit like watching your child leave the nest. Getting up every morning and telling yourself that you are happy to go to work despite the workload and responsibilities is very satisfying.
5. Grow as a Person
Creating your own business means opening up to the world, it means meeting incredible people, it means creating professional and personal qualities by stepping out of our comfort zone.
6. I won’t change the world but….
As an entrepreneur, we have an influence on the world; we can make things happen, we can offer solutions, we can make a difference in people’s lives either by creating jobs, or by offering a service or a product that will make a difference.
In closing, there is good in becoming your own boss but before you make that commitment, I propose you visit the Humaprise Group website: https://www.groupehumaprise.com/test-avez-vous-le-profil-entrepreneur/where you can take a little test entitled “Do you have the profile of an entrepreneur?”
After this test, if you have the profile of an entrepreneur and you feel confident to start the project of your life, here’s a very useful link: https://mongps.ca/service/lancement-dune-entreprise/
For financial support consult: https://www.quebec.ca/en/employment/support-self-employment/
You have questions, doubts, and certain anxieties in starting your own business? We will be happy to help you. Do not hesitate to contact us to make an appointment.
Chantal Thibodeau,
President
Comptabilité sur mesure