The word Entrepreneur is getting a lot of "play" these days. To most of us it conjures up thoughts of yesteryear - a man starting up a small manufacturing operation, borrowing against everything he owns for the privilege of working long hard hours. The rewards were pride, independence, a great life style, and a strong feeling of accomplishment - the backbone of the Free Enterprise System.
Today, this scenario is changed in a few ways. There are many more of us, both men and women. The big borrowing is not often needed. We can work the hours we want because we are not primarily in manufacturing. As a matter of fact, the rush into entrepreneurialism is in consulting.
The business world has changed dramatically. I read recently that only about 27% of jobs are in manufacturing. That means that 73% of jobs are NOT in manufacturing. The information and service economies in which we all work today have created the need and opportunity to make the consultant/entrepreneur (C/E) an important resource.
Corporate downsizings have unleashed "tons" of managers and others who have loads of talents and skills. All of the companies that have now downsized still need many of these talents and skills. This is the venue for many of the downsized individuals.
Instead of working for one company for life, they start working for several companies as needed. This requires many of their previous job skills plus some new ones unique to every entrepreneur.
First, they must prospect and sell. This is just a fact of life. The C/E must sell themselves and the products and services they offer.
Secondly, the C/E must control overhead. When money is spent haphazardly, it comes straight out of the C/E's pocket or maybe mortgage payment.
Third, the C/E will learn the true meaning for the phrase cash flow. This is one of the greatest learning experiences one can have. Far too many new entrepreneurs start to live off their GROSS, not their Net. The first learning shock usually comes when taxes are due. There is no money, but the city, county, state, and federal governments want their share, now!
Fourth, the C/E must know how to manage their time. Primarily because this is a significant part of what they have to offer. In the beginning, the C/E will have to devote nearly all the working day to prospecting and selling. Then, when that first sale comes, keep on prospecting and selling. If not, when that job is over, there will be nothing to replace it - the ugly side of cash flow.
These are some of the basics that need to be considered by anyone wanting to get into their own consulting business and use those skills. Until these are learned, the Consultant is not really an Entrepreneur.
The good news is that it doesn't take a rocket scientist to learn these things. Many people have an amazingly short learning curve. They were really Consultant/Entrepreneurs all the time, it just took them a long time to realize it.
So all they have to look forward to is; pride, independence, a great life style, and a strong feeling of accomplishment.
Sell Well and Often,
Bill Truax
Bill@BlitzCall.com
Copyright 2006 WJ Truax |
