​Career Management: Entrepreneurs & Small Businesses

Entrepreneurial Career Path
Many people dream of being their own boss, but it is not the right choice for everyone. 

Here are some questions to consider before taking this step.

• Do you have strong passion or a vision?
• Are you able to set goals and work independently to meet them?
• Do you have savings or other financial backing to support you while you build the business?
• Are you able to sell to people or can you partner with someone who can?
• Does the following equation come out positive?

1+ Unique service or product
+ meet the needs of large enough customer base
+ price customers are willing to pay
= income sufficient to run business and support self

There are different definitions of entrepreneur, small business, and start-up. Google the terms to see the trending definitions and pick the label that works for you

Entrepreneurial Mindset
Creating You & Co. - William Bridges wrote "Creating You & Co" and evangelized taking control of your own career, professional development and growth. No one knows you as well as you do. No one will know about your abilities, ideas, and plans unless you identify and communicate them first.

Creating partnerships - So much is done these days through partnerships between people, departments, and companies. Communications can't be effective without the IT department; causes need their influencers. What partnerships have you created and/or fostered to move a project along? Which partnerships can you foresee promoting to move your next goals along?

Recognizing Opportunities - Fast growing companies started as new ideas. The trending brands started as new ideas. New ideas come from creativity and connecting old ideas in new ways. Leaving yourself open to ideas and opportunities puts you in front of key people at key moments in time.

Start Where You Are - If this outlook is new to you, start by looking at yourself, your goals, and possible opportunities for yourself. Have conversations with people you trust. Look at your professional goals and be honest about what else you can do to accomplishment those goals.

To explore your entrepreneurial mindset or starting and growing your own business, start with these online and print resources:

Online Resources

• AARP’s Guide to Self-Employment 
• Business USA – Federal compliance information managed by the Small Business Administration.
• Business Network International – BNI is a business and professional networking organization that allows only one person per professional classification or specialty to join a chapter.
• Entrepreneur.com - Website of Entrepreneur magazine.
• The Entrepreneur's Source – A business and franchise consulting organization with education and coaching to help individuals determine the best options for business ownership.
• EnterpriseWorks Chicago - A startup for startups, EnterpriseWorks Chicago (EWC) is a university based operation charged with creating a robust entrepreneurial community to nurture commercialization and accelerate viable high technology startups throughout the Chicagoland community. 
• Frannet – “The Franchise Connection” has consultants who help individuals learn about franchise opportunities and how to select the best option.
• Illinois Small Business Development Center – Collection of small business services in Illinois.
• Kickstarter - A community based, project funding platform
• SCORE – The volunteer resource partner of the U.S. Small Business Administration offers counseling, workshops and an on-site Business Information Center.
• Small Business Learning Guide for Entrepreneurs with a Disability 
• Women's Business Development Center – Offers workshops, advising and comprehensive resources since 1986 to help women launch and strengthen businesses in Chicagoland.
• Your Small Business Plan (Infographic, Courtesy of SurePayroll)

Book Recommendations

• “The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It” by Michael E. Gerber
• ”The Entrepreneurial Mindset” by Rita Gunther McGrath and Ian MacMillen
• “Entrepreneurial StrengthsFinder” by Jim Clifton and Sangeeta Bharadwaj Badal
• “You Need to Be a Little Crazy: The Truth about Starting and Growing Your Business” by Barry Moltz

Adapted from material that originally appeared in the University of Illinois Alumni Association's Virtual Career Center
© 2020, Julie L Bartimus Consulting, Naperville, Illinois