Monday, November 29, 2010

The next decision

Let’s assume you are participating in this forum because you are ready to make a decision (refer to 11/23/2010 posting), then you must make another decision. 

You have one of two motivations for starting a business. Either you need cash now, or you want to build an empire. “I wanna’ be my own boss” is in the second category, while “my day job don’t pay enough” is in the first category.

The first category comprises those we sometimes call necessipreneurs.

Into our town last year moved a couple. The husband’s company had transferred him to the area. After they arrived, they learned that the job had been placed on hold for three months later due to the recession. A few months later, the position (along with the position he held before the transfer) was dissolved. They could not find suitable employment, and they were running out of cash.

So they opened a restaurant. Food services was not particularly a hobby or avocation, but a way to earn their own daily bread, and they thought they had some good recipes. The dining options increased in town, and the couple was able to pay the rent and utilities at their apartment. Many people around the world are following this pattern.

Necessipreneurship is a very solid reason for starting a company. But it requires a different methodology than building a Google-sized endeavor. 

No comments: