According to the Small Business Association (SBA), 30 percent of new businesses fail during the first two years of being open, 50 percent fail during the first five years, and 66 percent during the first 10 years.
What a way to start an article, right?
I’m sharing this information to show that there is risk in going into business for yourself. In fact, it is statistics such as this that made me the prototypical “I’m not cut out for entrepreneurship” person. All of my life, I accepted the task of leading existing organizations and publications with the understanding that the wheel did not need to be invented, just reinvented. And, there is a part of me that still takes pride in my ability to step into situations and make changes.
I give you all this backstory because my leap into entrepreneurship was not taken on purpose. It was circumstantial. In 2016, I was jobless in a new city, seeking a life reset. I dug deep into my networks to apply for jobs. And, it seemed that every call and email that I sent was met with, “We’re not hiring for full-time roles right now. But, I’d love to use your skills on a current freelance project.”
A couple of months later, I was spending all of my time on freelance work. I stepped back to assess my life and consult with my family and friends. There I was, the executor in a position to be the innovator. But, that’s where I was wrong.
There is space, and actually a need, in entrepreneurship for both. After much deliberation, and doubt honestly, I accepted that I am more valuable to multiple companies than one. Today, I execute and innovate for my clients. The difference, for me, in being freelance versus full-time is literally how my time is spent.
I’m approaching the two-year mark that the SBA warned of feeling better than ever. So, I want to take some time to share approaches that have carried me to this point and lessons I wish someone would have shared with me before I made the leap.
Do It All
Humbling. Educational. Busy. Fun. Inspiring. All of these words describe my first six months as an entrepreneur. I stretched myself to take any and every opportunity thrown my way because I didn’t want to take anything for granted. I did everything from project management to public relations. I also took on part-time jobs for two things that have always been close to my heart: health and education. I finally understood what other entrepreneurs meant when they said running a business doesn’t mean less work or fewer hours, it just means you like the work that fills your day.
Read the full article HERE.