Is Entrepreneurship the right option for you?
There are many factors to consider.
As you consider your next big career move, there are three major directions you can consider: Conventional Employment, Independent Entrepreneur, or Business Opportunity Entrepreneur.
Many company employees want the freedom, flexibility, and income potential of the entrepreneurial lifestyle, but may not be able to do what it takes to be successful in that world. For example, many people find they need the structure and daily social stimulation of a large office environment more than they realize. Most employees are shielded from most of the business challenges and functions required to create and maintain a successful business, and facing all these realities at once can be overwhelming for the first time entrepreneur.
Taking the path of the independent entrepreneur is a bold undertaking. Underlying the sobering statistics of new business failure rates is the common element of underestimating the depth and breadth of the challenge. The time, energy, and capital required in setting up the functional infrastructure, developing differentiated offerings, building credibility, acquiring clients, and delivering a quality product or service are generally much greater than expected. On the other hand, if you already know how the business model truly functions, you have a proven and differentiated offering, you have access to deep financial pockets, and you can bring your existing customers with you, the option of venturing off on your own as an independent entrepreneur may be very realistic, and you may beat the odds.
On the other hand, if you do not feel you already have all the answers, you may want to leverage a business opportunity partner. However, unlike a conventional partner, a business opportunity partner allows you to keep all your equity in your business. A business opportunity partner can provide you the proven formula for success, expedite your setup, optimize your operations, minimize your learning curve, and lower your overall risk.