Could You Be Your Own Boss?

by Tag Goulet

If you have been dreaming of a way to be your own boss, it’s crucial to take a close look at your skills and personality traits. Find out if you have what it takes to be your own personal head honcho by considering a few important factors described below.

Imagine you are at work late on a Friday afternoon. You are getting ready to leave for the weekend and looking forward to the activities you have planned for your time off. With only minutes to go before quitting time, you learn that a customer has placed a big order they need for first thing Monday morning. To get the order ready you would have to spend all day Saturday and Sunday working on it.

What would you do?

(a) Explain that you can’t do it.

(b) Call in your assistant and tell them that they have to do it.

(c) Work over-time and get it finished for Monday.

(d) Tell them your competition has no social life and would likely do it.

(e) Don’t know.

If you chose answer (c) you may have what it takes to be your own boss and start-up a business according to Canada Business, a Government of Canada website.

Statistics on Being Your Own Boss

If you want to launch your own venture, you are in good company. An opinion poll released by E-Myth Worldwide, a California-based company that provides education and coaching for entrepreneurs, found that at least 7.8% of employed and unemployed adults 18 years of age and older plan to start their own business within the next year.

Other major findings of this informative entrepreneurial poll about being your own boss:

• The most popular reasons people gave for wanting to start a business are: to make more money (30%), be their own boss (18%), and fulfill a dream or hobby (15%).
• The desire to start a new business spans all age groups and income levels, but is significantly higher for people age 45-54, who are getting serious about their retirement plans.
• While the statistics show that more men than women hope to start their own business, 45% of currently unemployed women see starting their own business as a way to achieve financial independence. By a margin of 50% to 34%, men are more confident of their potential business success than women.
• The biggest challenges people said they face in starting a business are lack of knowledge and confidence (44%), raising money (44%), and the economic and competitive climates (39%).

Learn How to Be Your Own Boss

According to William Schlegel, CEO of E-Myth Worldwide, “Some factors influencing the likelihood of success, such as the state of the economy, are beyond an individual’s control.”

“However, the good news is that the knowledge entrepreneurs need to be successful can be quickly gained by learning the skills essential to the success of small businesses. Increased knowledge builds confidence and greater confidence enhances the chances for success.”

Canada Business featured this question to help test whether a path to be your own boss is right for you:

Why would you want to start your own business?

(a) I want to make lots of money.

(b) I hate working for other people.

(c) To gain a sense of accomplishment.

(d) I have no skills and no one will hire me.

(e) Don’t know.

The survey says the correct answer is (c), however, we think almost any reason you want to start a business is a good one if it motivates you to take action to make it happen. In fact, launching your own business is one solution if there’s a job you want to do but you can’t currently find a company to hire you to do that job on a full-time basis.

If your dream career involves starting your own business to be your own boss, why not spend some time learning more about how to get started. While researching our book Dream Careers, we found that the hottest businesses right now include providing personal services (e.g. party planning, personal shopping, professional organizing, personal concierge services) or starting a retail business (e.g. boutique, bookstore, coffee house, secondhand store).

Discover your next career by researching certificate courses offered by the International Association of Professions Career College (IAP Career College). For more information, visit www.iapcollege.com.

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