Is entrepreneurship for you?

People often start a business to pursue their passion, gain financial independence or create something meaningful. Additionally, the challenge of solving problems and fulfilling market needs can be highly motivating. For some, the dream of building a legacy or contributing to their community also plays a significant role.

For me, it was straightforward: I didn’t think I was a good employee. At my last job in mid-level management, I wanted things to be bigger, better and more efficient. I aimed to deliver at a high level for high-profile clients but felt like I was beating my head against a wall. Several people, who would eventually become clients, approached me, offering their full support if I wanted to develop my own team to serve them effectively. I accepted the mission, even though I was unsure what it would entail. At least now, I was in control of my own destiny.

While entrepreneurship is not for everyone, I believe one of the most noble things you can do is start a business, create jobs and build opportunities. The reality is that it represents a significant departure from the traditional employment structure, and the fear of failure is a major part of any entrepreneur’s journey. This path typically begins with leaving the security of a steady salary. Most people trade a third of their day for a salary, allowing someone else to mitigate their risk. When you choose to risk your own money – money you might have used to put food on the table – you embark on a very different journey. The fear of failure can be a powerful motivator for those truly committed to this path.

Here are a few key points to consider.

I always advise people never to pursue entrepreneurship out of greed for money. Instead, you should pursue it for the sake of freedom. Ensure that you are ferociously committed, as this journey will not always be enjoyable. Much of the time, you’ll be working “eight days a week” because the responsibility lies solely with you – the risk is entirely on the owner. It requires serious execution. Almost every entrepreneur has plenty of passion and vision, including those who ultimately did not succeed. However, achieving success demands high-level execution.

It’s also important to remember that business owners are always serving someone – whether shareholders, customers, investors or the business itself. Your primary allegiance must be to the business. You cannot let emotions cloud your judgment about what’s best for the organization. It takes real courage to make unpopular decisions that ensure the long-term health, safety and stability of the company. No one else in the organization has access to all the information you do as an owner, which means no one can fully understand the owner’s perspective. Being a great entrepreneur has more to do with the ability to stay focused and highly motivated when there is failure around you. It is not about how well you handle success; it’s how well you handle failure.

Is it worth it?
It’s about buying into hope and a promise with no guarantees. While there are personal guarantees, that’s a different matter altogether. The answer may depend on which day you ask that question. However, if I’m being honest, I would say yes – it is worth it for me. It is extremely rewarding, and I wouldn’t trade it for any job. The true reward lies in the opportunity to bring your vision to life with an incredible team of people you’ve assembled for this purpose, working together to achieve great things. If you do hundreds of things right, you may achieve financial independence and the satisfaction of seeing your hard work pay off, which can be incredibly fulfilling.

Donnie Brawner, Partner, Colligo Holdings

CEO/Owner, Paragon 360 & Paragon Fabrication

Originally Featured in Springfield Business Journal: Is entrepreneurship for you?