Starting Your Own Business: Is Timing on Your Side?
By Steven Wichlenski, Business Science Strategist
Most business owners remember the day they decided to start their own business. What an extraordinary moment in time, when it became a reality. Do you remember the specific reason that prompted you to start your own business? Was your decision, to start your business, an answer to a long thought after dream, or were you influenced by a manager or business owner? Influenced by the very last straw to a string of unkempt promises that broke the camel’s back?
Many businesses are started due to ‘timing’ or lack of it, as so often happens with Technicians: a moment when they feel least appreciated at their job, with their confidence level at a peak, which can prove for the perfect storm; and so the Technician steps out on their own.
It is next to impossible, to stand in the way of an overconfident Technician with a burning desire to be a business owner, confusing the ‘Timing to be right’, to leave a Job, with the ‘Perfect Timing’ needed to start a business.
The Technician Owned Business.
The Technician business person, many times is referred as the ‘hands-on’ owner, because they are mostly owners that work in a business created for the job it provides.
They are the handy-man business; or automotive repair; landscaping; air conditioning; and the list continues. The Technician owned business is not limited to mechanical businesses, though. It does not matter what the widget happens to be. They are ‘hands-on’ owners because someone showed the Technician how to do something, and it stuck. The Technician learned to produce the product, so well they became the very best at what they do.
The pizza business on the corner, is most likely, a Technician owned business. The widget they sell happens to be pizza. I am sure you have seen the BBQ guy, with their mobile ‘smoker’ that sits in a vacant lot somewhere near you. Several ‘technician owned’ businesses have success stories that revolve around “food wagons” that had a unique recipe or food concept.
The Second Type of Business Owner is the Educated Owner, who will invest in either specific business courses or apply as a licensed agent to fulfill a dream: Accounting/CPA comes to mind. A Realtor® is a good example, or someone wishing to be in lending or wanting to open a Property and Casualty Insurance company (to name a few). The Educated Business Owner or Manager Owner has the proper education or skill, to operate a business. The Educated Business Manager Owner, with proper education will do very well investing in a ‘turn key’ franchise business receiving the support of the franchisor company to help insure the Educated Owner’s success. The Educated Owner may purchase a franchise for two major reasons, to help secure his success. The Franchise business will have a tried and proven track record of success, providing the business is located in an area approved by the franchisor company. The franchise also comes with a “Book of Operations,” telling the new owner everything that needs to be done in the new business.
The Third Business Owner type is the Entrepreneur…sometimes called the “Dreamer.” It is the Entrepreneur that gets the credit of thinking up unique business concepts. They also have the ability to bring the business concept, from idea to reality.
The one common thread these three types of business owners have in common, in order to be successful (you might have guess it already), is a PASSION to do what they do best! They are all driven by a passion for success.
In my upcoming book “The Rise and Fall of the American Business: Was it Something I Said?” I address the three types of business owners that strive to operate their own business. Which type of business owner are you?