Being an entrepreneur : a lifelong project

Last modified:

Monday 24 February 2020

Starting your own company will not only affect your professional life, but will also have significant consequences for your personal life.  You can avoid unnecessarily jeopardizing the first few years by carrying out a serious analysis of your personal and family circumastances.

Take some time for self-reflection: ask yourself if you are the right person to lead this project.

Ask yourself about your personal chances of success in the chosen project. Not in terms of financial and economic feasibility, but rather in terms of the suitability of your profile:

  • What is your real motivation ? (based on your past, as well as your hopes for the future)

  • Does your project stem from a real desire to achieve your potential, or is it just a stopgap measure?

  • What are your objectives as an individual?

  • What are your strengths and weaknesses?

  • Which obstacles stemming from your personality will you have to overcome?

Take the time to seriously answer these questions.  This will help you greatly with an overall strategy.

And your family and friends, what do they think?

If you change your lifestyle completely by becoming self-employed, it is essential that those around you understand the ongoing process and do not systematically pour cold water over it.  You should, therefore, "test the water first":

  • Are your family and spouse positive about your project?

  • Have you discussed it with them? Have they promised to give you their moral support at the very least?

Their support, understanding, and empathy will help you overcome any setbacks, and will often constitute a key element of your company's success.

Be honest with them : starting your new company will occupy a lot of your time.  You'll have to devote not only your time, but also your thoughts, your words, and all of your actions.  This is typically the case in the beginning, and even quite necessary when problems need to be solved; but it is a behavior you need to avoid adopting systematically.

For your private and professional lives to both be successful, you need to realize that both are important.  They both need room to breathe at one time or another, and it is healthy to take a step back. 

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