During the recessional months of 2009 and 2010, Americans launched new businesses faster than any time in the last 15 years. Over those two years it was 565,000 new startups per month. The fastest growth segments are among 35-44 year olds and 55-64 year olds. Today's typical entrepreneurs aren't hatching Facebook from a dorm room, but instead have 10 or more years of experience at a larger employer, with average education and IQ. The entry questions are:
- What are you passionate about? Successful business mostly aren't 9-to-5 jobs. If you're solely in it for the money, probably best to keep working for someone else.
- Do you know how to do something very well?
- Can you handle failure, and are you comfortable selling yourself?
- Can you wear many hats, even the ones you don't like? If you like to focus on one thing, then entrepreneurship may not be for you.
- How do you handle stress? Does it wash off of you or stick to you through the night and at the dinner table? Do you accept it with grace or steam? For long-run health, potential entrepreneurs must weigh this with a good dose of soul-searching.
Having presided over several organizations, I do find myself most enthused in the wingman role rather than the chief. There's a big difference between the romantic idea of being the leader, even if you have the skills, and playing an indispensable supporting role. I like to be featured in a unique and creative position, where I can publicly overachieve. Both the assistant coaching and VBS scriptwriting positions fit that mold. Math tutoring too, really, even though it's more private - leading someone to success requires creative approach to problem-solving.
Being a business owner is off the radar right now. Time to let my fellow Americans carry the spirit.
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