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Being your own boss has its pros and cons
Many
entrepreneurs get a bit of a rude awakening when they make the
transition from someone else's employee to head of their own company.
Suddenly they're in charge of a long list of chores that they can't
just turn over to someone else, because there are no accounts
receivables or human resources departments. And the security of a
weekly or biweekly paycheck is gone.
Susan Solovic describes the shift from corporate marketing executive
to business owner and jack of all trades as a culture shock that
lasted six months for her.
"When you're sitting in corporate America and the grass looks greener
- to be your own boss, manage your own schedule, maintain control of
your own creativity - what you don't factor into the equation is all
the support corporate America gives you," said Solovic, president of
SBTV.com, a St. Louis-based Web site that serves small businesses.
on starting her first company, Susan Says Inc., in 1999, she
discovered, "I'm now the secretary, the receptionist, the bookkeeper,
the sales team, the janitor."
The hardest part of the transition for Barbara Sheridan when she
founded her human resources firm in 1999 was becoming a saleswoman.
Sheridan had worked more than 18 years as a corporate human resources
professional before starting Charlotte, N.C.-based HR Xcel Inc., and
she certainly knew how to provide HR services. But selling was
something new for her, and was particularly challenging because she
was trying to persuade customers to sign on with a company that had no
track record.
"I had a strong resume that said, 'I've done it internally,' but to do
it externally and charge money, it's a little different," Sheridan
said.
The worry factor is the tough part for many new company owners.
"There's a lot to keep you up at night," said Kelly Koeller, who owns
Gluten-Free Market Inc., a store and Web site based in Buffalo Grove,
Ill., that sells gluten- and casein-free foods.
Koeller said starting his own business forced him to become more
cautious, not only in his business but also when it came to his
family's finances.
"As an employee, you can take more risks because you get your paycheck
from someone else," he said.
When Glenn Fromer went from corporate finance jobs to head of his own
accounting software firm in 1999, he found that being an entrepreneur
was a huge lifestyle change.
"You're never off," said Fromer, owner of Treasury Software in Weston,
Fla. "As an employee, you left at 5, you were done. Here, you're
always on."
The size of his work force, now 11 people, was also an adjustment.
"Socially, it's different working in a small office as opposed to
working with 200, 300, 400 people," Fromer said.
But there are definite pluses to this different kind of life, such as
being able to see his children's after-school games.
"It's a lot easier to do what you want to do," Fromer said.
For many entrepreneurs, the transition is harder when things don't go
according to plan. Tony Katsulos, president of Trinity Public
Relations Inc. in New York, had a partner in the planning stages, but
the partner backed out at the last minute. His would-be partner was
supposed to handle the administrative chores that Katsulos ended up
with when the company was founded in April 2002.
"The division of focus between getting the job done and managing the
back end of business, even though I knew that would be a part of it, I
underestimated the amount it would take to do that," said Katsulos,
who held corporate public relations positions before starting his own
firm.
Building Small Business is a weekly column by the Associated Press.
- Associated Press
Courtesy:
Google News
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