In simple terms, an entrepreneur is someone who creates a new opportunity in the world of business and assembles the resources necessary to successfully exploit that opportunity - money, people, organization.

- Kathleen Allen, Entrepreneurship for Dummies

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, 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, Small Business Administration

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.

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.

Here's what Kathleen Allen, author of Entrepreneurship for Dummies, says about risk taking and entrepreneurship:

What does it take to be a successful entrepreneur?

The answer is: many things. And a subset of this answer is that an entrepreneur must play many roles. Michael Gerber, author of The E-Myth Revisted: Why Most Small Businesses Don't Work and What to Do About It, posits that an entrepreneur needs to fill these three roles well - either by him/herself or with competant staff:

1. The Visionary - the Dreamer, the Big- Picture person, the strategic planner, the business innovator. Lives in the future. Craves control of the operation. Thrives on change.

2. The Manager - the Pragmatic one; the organizer, the scheduler, the supervisor, the coordinator; carries out the details of the vision and the strategic plan set by the Entrepreneur; implements the Business Plan. Lives in the past. Craves order. Clings to the status quo.

3. The Technician - the Doer; does what needs to be done; in a small business, does the work of the business (is the accountant, the graphic designer, the jewelry maker, the coach); works on one thing at a time; happy when tinkering. Lives in the present. Craves control of the flow. Thrives on getting the work done.

Gerber's thesis: Most small businesses fail because they are started by the Technician, rather than by the Entrepreneur, and because the person starting the business is not equally skilled in all three areas, and has not learned how to delegate the roles he/she does not do well.

Gerber's ideas and teachings have grown to the point where E-Myth trainings are available around the world. Here on Boston's North Shore, The Entrepreneur's Source in Beverly is a certified E-Myth training site.

If you live in our local area - Boston's North Shore - and are contemplating going into business for yourself, this free workshop is for you!

Join us at the Cummings Center in Beverly, Wednesday evening - October 8, 2008 - at 6:30pm for the thought-provoking and interactive workshop, Is Entrepreneurship Right for Me? presented by Connie Komack of LifeWork Enterprises and Tom DiGiuseppe of The Entrepreneur's Source.

In my resource file, I have a long list of books for a recommended reading list. Here are my Top Ten Picks:

• Entrepreneurship for Dummies. Kathleen Allen. ©2001. For Dummies Publishing.
• The Complete Idiot's Guide to Starting Your Own Business. Edward Paulson. Fifth Edition, ©2007. Alpha/Penguin Group.
• Growing Your Business! Mark LeBlanc. ©2003. Expert Publishing, Inc.
• Launching Your First Small Business: Make the Right Decisions During Your First 90 Days. Second Edition. John L. Douba and Paul Gada, editors. ©2003. CCH Incorporated.
• Entrepreneur's Notebook. Steven K. Gold. ©2006. Learning Ventures Press.
• Niche and Grow Rich: Practical Ways to Turn Your Ideas Into a Business. Jennifer Basye Sander and Peter Sander. ©2003. Entrepreneur Press.
• Small Business Kit for Dummies. Richard D. Harroch. Second Edition, ©2004. For Dummies Publishing.
• The E-Myth Revisited. Michael E. Gerber. Revised Edition, ©2005, Collins.
• Zero to One Million: How I Built a Company to $1 Million in Sales...And You Can, Too. Ryan P. Allis. ©2008. McGraw-Hill.
• Callings: Finding and Following an Authentic Life. Gregg Levoy. ©1998. Three Rivers Press.

Enjoy!

There are many, many Internet resources on entrepreneurship and business dvelopment. Here are just of few of the ones on my Resources list:

• About.com: Entrepreneurs
• Bplans.com
• Entreprene ur.com
• Entrepreneur ship.org
• E-Myth Worldwide
• The Entrepreneur's Source
• SBA: United States Small Business Administration
• SBDC: Small Business Development Center, Salem State College
• SCORE: Counselors to America's Small Business
• ZeroMillion.com

Excerpted from Blog article dated September 24, 2008:

Yesterday, I was quoted in an article titled Retire? More Seniors May Get to Dictate Their Futures by Rick Saia of PongoResume. com. This article is a Must-Read for those contemplating retirement and for those already in retirement.

It seems to me that three large events are coming together in a way that will result in keeping Boomers in the workplace longer and in bringing already retired Seniors back into the workplace:

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.