Entrepreneurship is the recognition and pursuit of opportunity without regard to the resources you currently control, with confidence that you can succeed, with the flexibility to change course as necessary, and with the will to rebound from setbacks.

- Bob Reiss, author of Low-Risk, High-Reward: Starting and Growing Your Small Business with Minimal Risk

I have always thought of an entrepreneur as a person who starts a business to follow a vision, to make money, and to be the master of his/her own soul (both financially and spiritually). Inherent in the venture is the risk of what the future may bring. Therefore, I believe that an essential key to success is that the entrepreneur also be an "educated" risk taker....

- Linda Pinson, SBA

What does it take to be a successful entrepreneur? There are many factors. Some are unique to your own personality and situation. Others exist in the context of the overall business environment.

No one needs to be told that we are facing challenging economic times. Some readers may be in jobs that are not secure and are considering entrepreneurship as an option. Some may be just starting out in their work life and are exploring all options. And some may already be in a business of their own but are considering leaving the entrepreneurial world for a job with a steady paycheck.

In exploring "entrepreneurial readiness", we examine many factors, some of which are addressed in this newsletter. Some factors are "internal"; others are "external". By "internal", we mean factors that relate to you and your unique situation, and are within your control. By "external" we mean factors that relate to the economic, business, and political milieu in which we find ourselves at the time of start-up; these are not within your control.

It is my hope that the following articles will provide information and insight that will help you decide whether or not entrepreneurship is the right path for you.

If you live locally, and are in the throes of making this decision, the upcoming workshop, Is Entrepreneurship Right for Me?, will address many of the issues involved in making this important decision.

This article first appeared in Connie's Blog on January 25, 2007. A portion is excerpted below. To read the complete article, click on the link below.

So many people today face this decision at some point in their working life. Some right out of the gate, after high school or college. Some after being downsized or fired. Some in midlife, when a desire for change is at its peak. Some at retirement.

The question is: which is the best decision for You?

Not everyone is cut out to be an entrepreneur. There are many factors to consider. Some are internal, or are specific to you. Other factors are external, and are influenced by factors outside yourself, such as economics, business climate, competition, politics, family issues, social issues, finances, and other external factors.

This article first appeared in Connie's Blog on September 28, 2008. A portion is excerpted below. To read the complete article, click on the link below.

Entrepreneurs, by nature, must be risk takers. How much risk are YOU willing to take? Contrary to popular belief, the most successful entrepreneurs are not over-the-top risk takers.

This article first appeared in Connie's Blog on October 13, 2008. A portion is excerpted below. To read the complete article, click on the link below.

In many respects, starting a business is very much like embarking on a marriage. It is a long-term commitment that requires passion, enthusiasm, and love of the work, product, service, or field of that business. It requires a kind of stick-to-it-iveness that is reminiscent of the marriage vows - that is, you agree to stick with it in good times and bad, in sickness and in health, forsaking all others, until death - or some other BIG factor (such as retirement)- does you part. It requires dedication, persistence, perseverance, perspiration, and a conservatively high degree of risk tolerance.

What are some of the secrets of maintaining an entrepreneurial commitment of this kind over the long haul - perhaps in times of economic challenge such as we currently face in this recessive economic climate? Here are some factors...

There are so many resources on the Internet on the subject of entrepreneurship and entrepreneurial readiness. One article I have found especially useful for people contemplating starting their own business is....

Entrepreneurial Readiness: Do You Have the Entrepreneurial "Right Stuff? A Check List for Starting Your Own Business, compiled by Monica Doss.

Her checklist includes:

• Personal Considerations
• Financial Considerations
• Sales & Marketing Considerations
• Legal Considerations
• Accounting Considerations
• Setting Up Shop
• Staff Consideration

There are many videos on YouTube.com on the subject of entreprenurship. After reviewing several of them, I have selected this one as a good starting place for beginning entrepreneurs.

Consider these tips from successful entrepreneurs.

This interactive entrepreneurial readiness workshop is for you, if you are...

• ...considering starting a new business.
• ... already running your own business, but are wondering if you wish to continue with it.
• ... in a job, but are concerned about possible layoffs and wish to explore your options.

Details:

Date: Saturday, January 24, 2009
Time: 9am - 11am
Place: The Enterprise Center at Salem State College
121 Loring Avenue, Salem, MA
Fee: none

To register: Contact The Enterprise Center at info@enterprisectr.org or call 978-542-7528.

LifeWork Letter is a complimentary monthly e-Newsletter from Connie Komack and LifeWork Enterprises, with tips, quotes, and short articles designed to enrich, empower, and forward the growth of your life, career, or business.

Feel free to share this newsletter with others. It is easy to do by clicking on the forward email link at the bottom of this newsletter.

As always, I invite you to visit my blog site and to read the articles on transition, change, and re- designing your life that are posted there.

Thank you for reading my newsletter and/or blog articles. Your readership is most appreciated and valued. I hear from many of you each month, and I always enjoy and benefit from your feedback. So please keep it coming.