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This new year guys, aim to be your own boss..

26 December 2009 225 views View Comments

A RECENT newspaper article talked about how some companies are making entrepreneurs of their own employees yet keeping them in their original jobs!

The new trend in corporate HR retention strategy is to encourage employees to turn to entrepreneurship while on the job!

This is interesting. The idea is to address a growing talent crunch by letting managers become entrepreneurs so they can do something different apart from their regular jobs.

If you had a choice, what would you do?

Have you thought of starting a business? Do you have what it takes to become a businessperson? Many people dream of building their own empire or even a small company and running it.

Only a few achieve this. Why? Most people blame circumstances and unavailability of capital but, often, it is the inability to switch mindsets from being employed to having one’s own enterprise! It is a myth that running a firm is easier than buttering up a boss on a daily basis.

If you have family or friends who own companies or conglomerates, they will tell you how hard it is to manage. You could exchange horror stories about being employed, having to deal with layers of bureaucracy for simple things and dealing with difficult bosses! But you also have to deliver results and have periodic performance reviews to deal with!

Understand the difference between being an entrepreneur and an employee. Figure out which one you are. People change as they grow. And if not now, you should know what it takes to be an employee or an entrepreneur.

The first thing that strikes me is the motivators. As a professional, you are the co-owner or employee of a business, motivated by your financial and intellectual needs. As an entrepreneur, you are the owner of a business motivated by passion and the zeal to do something independently!

Where you draw inspiration from and the factors that enthuse employees to perform are very different from those that affect an entrepreneur.

Many companies deploy a greed-plus-fear combination in their employees as a motivational tactic. But an entrepreneur is self-motivated. An entrepreneur has to create an atmosphere that inspires others and sustain it over a period of time.

The other difference between working for others and working for yourself is discipline. This is not just related to your ability to keep time without supervision but also about self-control.

As an employee, apart from the limits you set for yourself, controls come from bosses who tend keep a check on any deviation in efficiency or order. Entrepreneurs have to be constantly vigilant and aware, not only about others but also themselves because any drop in productivity will imply a direct hit on the company’s profitability and reputation.

Rising from failure is a painful journey for anyone! Whether self-employed or otherwise, there can never be a comparison of the heartache of disappointments. Yet, it is ‘how’ one deals with a professional fiasco that may tell you whether you should go on your own or work for someone else.

An entrepreneur may lose all resources in a disaster while a manager fears losing his credibility with any letdown. Those on their own have to find the strength to start from scratch again and rebuild while those employed risk losing a promotion or job and yet have to continue working.

Not everyone is cut out to be an entrepreneur, just as not everyone can handle the drudgery of working for a company within the constraints of a large system! As a business owner, the buck stops at you because there is no one else to take responsibility for any mess-ups. But you also get credit and rewards for success and victories.

As an employee, you need to work within the confines of an organisation structure, but failures and rewards are shared by the individual as well as the team!

Maybe a time has come in the corporate world where you can experience the fine balance between the stability of being employed and the freedom of creativity and independence!

If more people got a chance to do both, it would make a very interesting professional world!

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