I finally managed to get back into the Business Link’s East of England website. Despite re-registering it gave me the same error. Invalid password. I use pretty secure passwords and wondered whether I had mistyped it the first time around. I also wondered if the ID I was using was just a temporary one so I delved further into the help pages. It seems that passwords must be between 8 and 12 characters long, mine was 15. I don’t remember seeing this on the registration page, but it may well have been under the popup help page. Not much help there is it? Anyway, I trimmed my password to 12 characters and suffice to say I am back in again.
The Business Link site is full of information to help you throughout each stage of setting up your business and one of the options you can choose is to create a personal start-up organiser. This is saved in your online profile allowing you to return to it as and when you wish to. It’s pretty comprehensive too and asks all of the appropriate questions, one being – are you ready to start up?
For those of you that already run your own businesses it will come as no surprise that this first section talks about commitment. For most of us running a business will be a full time thing. For me it’s a bit different. I already work full time as I need the continued security of a salary. I am under no illusions that my business will generate too much work that I can give up my day job. If it did, I would be over the moon, but I would also start employing people and continue with my current employer.
This makes it a little easier for me to answer the questions posed by the Business Link in their day to day reality checks.
Personal sacrifice – yes, this applies to us all. I know that I am going to have to work harder and put in the extra hours to get my business up and running. I already put in far too many hours for my job and I plan to divert this to my own business rather than someone else’s.
Financial insecurity would be a major worry if I didn’t have my full time job. With the commitments and responsibilities I have it would be irresponsible of me to just give up and go out on my own. Their may be a time in the future where this can happen but it certainly isn’t now. There is far too much risk in the current economic climate.
Loss of company perks is an interesting one. I have a company car allowance and a very good pension. I also get sick pay and of course, paid holiday. I think that running your own business and being in control (to a certain extent) of your own destiny outweighs these perks. You can still have a private pension and a company car. The people I know who run their own businesses are very hard working and although they take holidays, it is usually just two weeks at some point in the year. I get six weeks now. I can’t remember the last time they were off sick either. I think that because most of us know we are going to get paid regardless, we are less likely to make the extra effort to get in if we’re not feeling 100%. It’s too easy an option to just stay at home, so for some, the lack of sick pay may be a serious loss!
Pressure on close relationships is certainly an issue here. I am married and have five children ranging from 2 to 17. Balancing work and personal life is never easy. There are many evenings when I don’t get to see my 2 year old son as he has already gone to bed. My wife is supportive of what I am trying to do as she understands the end result, so I suppose I am lucky here. Our time is at the weekends and I would rather put in the extra effort during the week that lose that.
Isolation isn’t really a problem for me. I have a lot of friends who I can get advice from if the going gets tough and they’ll tell it how it is. Working on my own and being responsible for the success or failure of my business is something that will drive me. If I get results then I know it will spur me on. If I get setbacks then I know it will bug me until I get it right. I also know that sharing my journey through this blog will also be a driver, because I feel like I have a sense of responsibility in seeing it through, otherwise it will be like an unfinished book.
The Business Link also talk about the entrepreneurial quality check. Successful business people will have some of the following key qualities;
Self-confidence – I am quite sure I don’t lack confidence in myself. As I have gotten older and have begun to understand what my limitations are and to work within them. More recently I have taken on additional challenges, such as studying for and passing my consultancy and project management exams. Maybe before I wouldn’t have done them and it’s my own increase in confidence that has allowed me to do so.
Self-determination runs nicely alongside self-confidence. I am now at the stage where I really believe I can work this through. My only reservations is in getting others to invest in me, but I learnt how to do that in the consultancy training
Being a self-starter – something I do in my day to day job so I don’t have too many worries here. Driving through solutions to problems and delivering benefit to our business is one of my prime roles and if I didn’t do it properly, or well, I am sure they wouldn’t pay me.
Judgement – do I have the ability to listen to others while still keeping my own objectives in mind? I think so. I run a development team and while my knowledge is greater purely through experience I have learnt to always listen. My team quite often come up with some pure nuggets of gold and I wouldn’t be doing my job if I didn’t listen to their suggestions.
Commitment – I work too many hours. Need I say more.
Perseverance – I absolutely hate things not working the way I expect them to. I think this can sometimes be a weakness in that I don’t always know when to give up on something and it is here that I have to rely on others to tell me to look for other solutions. I have good problem solving skills and enjoy working things through.
Initiative – I am fortunate to have a boss that trusts my judgement and empowers me enough to make the right decisions. I have a lot of experience in my employers business and I know how things get done better than most so I am allowed to use my initiative to get things done…even if it isn’t the proper way to do it
There is still other sections to cover in the are you ready to start up? section but I am going to leave that for the next post, otherwise this is going to be rather long and you’re probably already bored! You may think that this is starting to sound like a CV again, but for me it’s more me answering these questions for myself and writing it down here. Again, I would be interested in hearing from anyone who has used the Business Link startup organiser. Did it work for you? Was it beneficial?
Until next time…