“This article was originally published in The Growth Masters Daily (http://www.TheGrowthMasters.com), and is reprinted with permission. This article may not be reproduced in whole or part without including the name of this author and an acknowledgement of the fact the article was originally published in The Growth Masters Daily (http://www.TheGrowthMasters.com). Any other use of this material is unauthorized and is a violation of law.”
Entrepreneur or Intrepreneur
By David J Dunworth
In this corporate day and age of “fend for yourself,” and the economy that forces survival decisions for nearly everyone on a daily basis, there is a point when we must make a decision to stick with the job we have, or take total control of our destiny. Should you stay with the sure money (however small) or go for it on your own? For some of us, the decision was made for us by the corporation we once worked for; we might have suffered the indignity of being: right-sized, downsized, cutback-ed, laid-off, terminated or just plain fired. Regardless, eventually everyone in the working world will face this fork in the road, in any one of the ways already suggested. As you read this you may be asking yourself, “Should I become and entrepreneur or stay with the company?” If the latter, there might be options previously not thought of or considered.
What is the difference between the two?
Why is now a good time to go rogue and become and entrepreneur?
What is the potential upside by sticking it out at work and becoming an Intrepreneur?
There may come a time in the very near future that you consider leaving your present employment to become an entrepreneur. Congratulations!! It is a sound idea that you are considering such a move, because whether you know it or not, your company is doing everything it can to eliminate your position. Most companies are faced with ever-increasing competition, rising costs and a reduction in margins. The only way that today’s company can remain competitive is to reduce costs, and let’s face it, labor cost is a huge target that gets constant attention. If I am anywhere close to being accurate, your company is finding ways to do more with less headcount as a matter of corporate policy.
A word of caution, however: make certain you have a minimum of 6 months carry (cash to cover all living expenses). Without sufficient money in the bank, you may face a negative situation regarding living expenses. Remember this: everything takes longer, costs more and is more difficult than originally expected.
It is a fact that a majority of individuals that have a year of carry set aside prior to becoming an entrepreneur are much more successful, as opposed to the ones that lose their employment and set out to do it on their own. Sure, the stories of the odd one that succeeds despite overwhelming odds are glamorous; the truth is that most never make it. One out of ten, or even worse are the odds of making it under those circumstances.
What’s the Difference?
An Intrepreneur is a person that simply cannot leave his or her employ and go it alone. For example, a nuclear scientist that is dependent on dozens or more of fellow colleagues to be successful cannot possibly strike it out on his/her own because of sheer logistics. Alternatively, consider an engineer, rocket scientist or some other career position that is dependent on a large amount of peers/subordinates to succeed.
There is a way, however, to reap the rewards similar to that of an entrepreneur, by structuring a deal with the employer to compensate him/her and team on performance metrics, rather than the success of the entire firm. In that manner, the company will retain a highly skilled workforce that is primarily motivated to excellence in their particular segment of the firm, and thereby reaping the benefits of their direct contribution.
Other Alternatives Exist
We all know someone (it might even be you) that has a second income source, such as rental properties, night work, or day trading, some form of networking marketing opportunity. The list is endless. One can look to the future and eye it with caution. Your job might be secure now, but chances are it won’t be down the road. Why not consider adding some method of alternative income sourcing to your task list, and begin to identify an opportunity that you either have experience in or can be passionate about? It has been said, there is a book in everyone. Well, it does not have to be some heavy tome that rocks the literary world; you can create an E-Book(s) that can be sold on Amazon. Amazon allows you to upload free, and make money with each sale. What are you passionate about? There is always someone looking for the newest or different way to fly kites, repair small engines, fix coo-coo clocks, or a million and one other topics.
Another thing you might look into is networking marketing. Sure MLM has gotten some bad raps in the past, but there are literally hundreds of great products and services out there that are in demand, offer great compensation, and you do not have to “recruit” if you don’t want to. Nearly all of the network marketing companies offer direct sales opportunities for those who love the product, and want to sell it. The investment is usually very small if anything, and setting up a web site often comes with signing on.
Have you ever considered becoming a travel writer? Or how about a restaurant critic? Or developing a resume writing service? There are programs available that can teach these skills, and they can be very rewarding. I subscribe to International Living Magazine, which is always looking for travel writers, or those knowledgeable about that tucked away special restaurant that is newsworthy.
The point is that there are opportunities out there that do not cost a lot of money to get started, and can yield success, if the decision to act is within you.
There are hundreds of people who were once white-collar executives without work, and little chance of finding it. Why not stop moaning about being unemployed and find something to make some money with? It is in you, unbelievably.
Entrepreneurs and emerging enterprises can garner additional advice, tips and Scar Tissue
Knowledge at my blog: