Starting own business is no bed of roses
THE SMALL business sector is one of the fastest growing and most active in the market today. Much of the investment, research and development, and innovation stems from this segment. It is a hotbed of start-ups and business development.
However, it is not all roses-and-moonshine and the realities of starting a business often come as a shock to would-be entrepreneurs, says Martina Laurie.
“I often get asked if good entrepreneurs are born or if people can be taught the art of business management,” says Laurie, who is chief executive of Hands On Treatment, a company that offers massage therapy to company employees, as an incentive for employees or as part of companies’ wellness programmes.
“I tend to lean more towards that it is inherent within you. Yes, you can be taught skills, but not all people are entrepreneurial,” she says.
Laurie was recently awarded the CEO Africa’s Most Influential Women in Business and Government Award. She says if you’re thinking of quitting your job and starting your own business, you need to be aware of the following:
You always get paid last. You get advised by business mentors that you must pay yourself first, but this doesn’t happen.
You lose your ego totally: the one moment you are acting as the chief executive preparing for an important meeting at your office and the next moment you are cleaning toilets if the cleaner has not arrived for work.
With the toilet cleaner in one hand, cellphone in the other hand, balancing on your high heels, you often have to multi-task at the speed of light.
There is no sick leave – you have to be almost dying before you can miss a day at work.
There are no business hours – you work 24/7, 365 days a year.
You have to become a master in everything: finance, marketing, human resources, sales, logistics, and social worker. Your head is constantly spinning with to-do lists – and your name is next to all the items.
Your staff think you are their guardian angel with lots of money coming in, and expect advances when asked. When you try and explain there is no spare money, you have to endure long faces and emotional blackmail.
Your passion can become your curse. “I love going for massages so I started a massage business,” says Laurie. “You would think that I can now have massage therapists available at will – nope! There is never time for a massage. And when I do get a chance, it is more a quality control exercise than relaxation.”
You resign from your job to be on your own and your boss is now you – the most cruel, most critical, meanest and most strict boss you have ever had or will ever encounter.
It is very lonely. You don’t have the corporate structure to brainstorm, swop ideas, or just chat in the hallways.
It is addictive – once you are in the game of entrepreneurship it is difficult to get out of it. And new ideas keep popping up and most people fall into the trap of being trinket entrepreneurs. You see opportunities everywhere and it is difficult to say no to these “golden” opportunities.
“Everyone has the potential to set their own course in their careers, to build their business, develop skills and achieve their dreams,” says Laurie. “But one of the bread-and-butter lessons about the workplace is that being forewarned is being forearmed – and that can help on so many levels.”