What kinds of people start a business?
Reputation management is a business activity that should never be overlooked. This is because of any kind of information out there about you can impact your bottom line. When someone searches your branded words, it is good to know what the public will find.
That being said, I’m sure you all know the risk of starting your own business. A regular person might just think it is too much work since you technically never “punch out” so to speak. You always have to be thinking about your company no matter what time of day it is, on the weekends and even on vacation.
In addition, only 25% of venture backed startups succeed. To be able to keep your business running, you need to think about its great future no matter how unrealistic it might seem at the time and how you will be able to get there. Startups also need to be somewhat crazy since your bold vision has to match that enthusiasm.
This is what it actually takes for investors to be attracted to you and find people to work for you. Depending on your idea and the way you pitched it, it may take you awhile to find someone to invest in your company.
Hiring can also be difficult it will be hard to find talented people to work for you; that is unless you have a proven track record in the startup world. But think about it, why would anyone leave a stable job to join you and your idea? If you really can’t find anyone for the job, never settle for someone due to lack of good talent. Hold out until you find the right one to help grow your business.
Being your own boss sounds good but you will quickly discover that even if you are the boss, you are not really in control of your business unless you are also financing it. Customers too can be very demanding and feel like you are loosing freedom and have more responsibility that ever before.
That also means you will have much less time to take on the positions you love. If it comes to hiring a team, they will take over and your primary job is to manage the team and make sure everything is being run smoothly.
Even though you start a business, you are taking part of a change and providing a solution for customers who might not have gone through with it otherwise.