Entrepreneurship:One of the Hardest Jobs You Will Ever Have
“I’m the Boss!”
Sounds cool, right?
For me it is. I can tell you that as the founder and CEO of The BOSS Network, one of the fastest-growing women business communities, and as CEO of City Global Events, my Chicago-based event planning, marketing and production company, I have heard countless stories from women who share their dreams of starting their own business.
The idea of starting a business can be very appealing—especially for women. The American Express OPEN "State of Women-Owned Businesses" report states: “As of January 2017, there are an estimated 11.6 million (11,615,600) women-owned businesses in the United States that employ nearly 9 million (8,985,200) people and generate more than $1.7 trillion ($1,663,991,700,000) in revenues.”
The reasons why some women desire to become entrepreneurs vary. Some are frustrated with their career trajectory and feel restricted. Others are tired of the glass ceiling at work. Then there are those who are actually very happy with being employed but happen to have a great idea for a product or service and just want to try their hand at doing it themselves.
Whatever your reason for starting your own business, there is one thing that I want you to understand before you take one step further…
Entrepreneurship is probably the hardest job you will ever have.
Before I became an entrepreneur, I had a great career as an educator in my hometown of Chicago, developing student academic programs for more than ten years. In each role, I was able to help young men and women to navigate college life and more importantly, impact their lives. It also gave me the opportunity early on to interact with strong, female leaders—particularly women of color—in positions of power who served as mentors for me. Their dedication and superb management style inspired and sparked a fire in me to really take a closer look at who I would be as a professional career woman. Their example served as my impetus when it was finally time for me to make the transition to entrepreneurship years later.
While I was enjoying my successful career, I began to sense that things were shifting internally where I was working. Beloved mentors moved on to other jobs, and I knew that soon, my position would eventually be downsized. However, instead of fretting and sitting in a position of defeat and worry, I prepared myself for the future. I always had an entrepreneurial spirit within me, so I just began to plan my exit while I was still working. Thankfully, I was always the type to have businesses “on the side.” And, I was always great at networking with amazing people that I would meet throughout my career. So, when I eventually was laid off years later, I just began to put my plan into motion.
Trust me, after the being let go, I was disappointed and scared. But I was also relieved. I knew that it was time to begin my journey to begin running a business full-time. I didn’t know everything, but I was willing to work hard, do my homework and focus on what it would take for me to be a success. The lessons from my mentors would help to pave the way. From there, The BOSS Network was born.
Today, The BOSS Network has evolved into a go-to resource for companies seeking female influencers as their target market. A one-stop-shop for career and entrepreneurial minded women, we support women in their journey to become independent and successful, utilizing the power of networking and technology. We also provide our members and partners with professional connections, resources and marketing and promotional opportunities. It took time and a lot of effort, but I was able to watch my dream become a reality as The BOSS Network continues to support women of color on their entrepreneurial journey.
I know that some of you want to make your dreams come true and start your own business. Congratulations! This may be one of the most gratifying experiences you will ever have. However, I cannot stress enough that you must do your homework. The ability to envision, develop and launch a business will not be an overnight process. Yet, it can be done if you work strategically. So, here are a few thoughts to keep in mind:
Entrepreneurship Isn’t for Everybody: Some people confuse job frustration as a “sign” that it’s time to start a business. Not necessarily. You may just be in a situation where you simply need to change your environment or explore another position.
You’re Going to Work Hard: Think that as a boss you will have loads of freedom? I hate to burst your bubble. There will be plenty of early mornings and sleepless nights ahead. Remember, the buck always stops with you.
Always Build Your Network: Keep your eyes opened for new prospects, new opportunities…and new people. Networking with the right people can help you connect with like-minded individuals who can help steer you in the right direction when you need support.
Save Your Money: If you’re planning on running a business, you will need money. Secure a small business loan or find an angel investor. Save as much money as you can while you are still working. Remember, the gap between your salaried job and any profits from your business may take time. A. Long. Time. Be prepared!
I wish you well on your entrepreneurial journey!
Speaker, trainer, and award-winning entrepreneur—these are just a few words that describe Cameka Smith, Founder of The BOSS Network, a community of professional and entrepreneurial women who support each other through conversation, online engagement and event-based networking. For more details, follow us on Instagram, Facebook and Twitter.
