The Entrepreneurial Dream and Its Mighty Challenges
In an increasingly complex, fast-paced world that transcends industry sectors, the entrepreneurial economy is on the rise. Profound ideas are sprouting and diverse start-ups are expanding.
As Mark A. Weinberger, former EY Global Chairman and CEO states, “…entrepreneurs are leading the way into the future.” He continues, “they ask tough questions, drive innovation and compete with big business.”
Sounds pretty inspiring for those with entrepreneurial ambitions and dreams. Being an entrepreneur is very exciting and fulfilling for many – thus the forecast of a continued incline in the decades to come. Yet the entrepreneurial track comes with some of the toughest challenges in business and as humans.
There are Gritty Moments in Living the Dream
According to this Forbes article, some of those discoveries include:
- The decision to make your move,
- Cash flow,
- Raising funds,
- Use of time,
- Delegating to scale, and
- Letting go of ego and perfectionism.
As a business owner and coaching entrepreneurs at various stages in their life-cycles, I would add:
- The need to develop resilience,
- Ensuring the work is purposeful and values-driven for those the business connects with,
- Having an ongoing pulse on strategic foresight with agility,
- Aligning one’s strengths and skills, knowing when to lean in with others on gaps, finding new and creative ways to collaborate (e.g. Where do you sit in your technical, strategic and leadership skills? What’s needed into the future? What resources might you look to, to fulfill those needs?), and
- Being prepared to redefine what success means in a new context.
To grow or not to grow as an entrepreneur?
The dimensions of this question are on the minds of tens of thousands in this moment. Having access to support is foundational. I call it the “circle of support”. It’s something we look for, create, choose and commit to. This circle includes mentoring, coaching and solid community connections who are in your corner. Another component is training for continued skill-building that adds to strengths and enables continued relevance – like “sharpening the saw”. Weave all this together with intention and this circle helps advance mindset, behaviour, knowledge and capacities for a bright entrepreneurial future. You’ll be equipped to navigate future gritty moments.
Is all of this vulnerable? Heck yes, and bravery inducing too. Who has time for this? Time is a precious currency, so what is your “return on time” worth?
As a coach and business owner at Fervor Leadership Coaching and Consulting, I am profoundly grateful to my circle of support – a living, breathing, growing entity that nudges me regularly and sometimes, the very “wind beneath my wings”.
Wherever you are in your entrepreneurial journey, may you thrive as you discover what’s possible within you and all around you, when you seek it.