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Sunday, April 23, 2017

Should Everyone Be an Entrepreneur

Posted by Tim Stobbs on May 21, 2009

Should everyone try be an entrepreneur at least once?  I know most kids at least try a ice tea/ lemonade stand once during their childhood, but should everyone try running a small business as an adult at least part time?

The reason this idea came to my head was thinking about my wife the other day.  To be honest I wouldn’t expect her to be good at running a business, but other than the odd accounting question or tax issue she does do a great job running her daycare.  She has also learned a lot from running the daycare.

As I’m setting up my publishing business I’ve been thinking about how many different skills you use have to use to set up a business and run it.  Then there is all the little things you learn while doing it.  Actually after watching my wife do her business for a few years I’ve got a much deeper appreciation how difficult it can been to keep a business up and running.

In general the following are some skills you learn:

  • Crisis Management:  It’s a miracle if something doesn’t go wrong at some point with a business that is a minor crisis.
  • Client Relationships: Learning that fine balance between being friendly, but firm when you need to be.
  • Accounting & Tax: Having a clue on how to keep the books and do your taxes or even paying someone else to is usually a educational experience.
  • Cash Flow:  So far I’m avoiding spending money I don’t need to to avoid the classic trap of a crappy cash flow which can kill off a business rather quickly.
  • Time Management:  You can’t be everyone at once.  So you pick what you can do and when.

Overall these skills I think make just about anyone a bit better of an employee and certainly help you when you get to a management position.  So in general I feel a lot of people could benefit from trying their hand at a small business, but I’m not convinced everyone should do it.  Some people just don’t seem to have the drive to keep a business going for long or they don’t think out the idea all that much.

What’s your thought?  Should everyone try their hand at a small business?

Comments

3 Responses to “Should Everyone Be an Entrepreneur”
  1. Quick Lunar Cop says:

    You might want to fix the word “enterperuer”. It’s actually spelled “entrepreneur” (due to its French origins).

  2. Canadian Dream says:

    QLC,

    Oops. I forgot to hit spell check before publishing. *blush*

    Should be updated.

    Thanks,
    Tim

  3. Mr. Cheap says:

    Tell your wife to give you a kick in the ass for speculating that she wouldn’t be good at running a business (when she has demonstrated that she *IS* good at it) ;-)

    Some might argue that before the industrial revolution, everyone DID run their own business. I suspect most people COULD run their own business, but I don’t fault people who appreciate the nature of employment instead of being an entrepreneur (the risks are different, let people pick their own poison I say ;-) ).

    Some authors demand that everyone should be an entrepreneur. I don’t buy that.

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