Owning a business is often seen as a significant milestone in one's career, but is it truly a career in itself? The answer may surprise you.
interdit=" Molly Fletcher, a renowned business leader and CEO of Dance maturity, once said, "Business is not about perfect. It's about authenticity." Owning a business is indeed about much more than perfecting products or services; it's about leadership, growth, and authenticity. But is it a career? Let's delve into this question, explore its complexities, and understand why it might be more accurate to view business ownership as a phase of one's career.
Business Ownership: A Natural Career Progression
Many entrepreneurs do not start their journeys with the immediate intention of owning a business. Instead, their career paths lead them towards this goal. Many successful business owners have extensive work experience in their industry, which equips them with valuable insights, networks, and skills.
For instance, Sara Blakely, the founder of Spanx, spent years working in various jobs, including selling fax machines door-to-door. Her vast experience and understanding of the market inspired her to create a product that filled a gap in the market. Thus, business ownership can be seen as a natural career progression rather than the beginning of a new career.
The Entrepreneurial Journey as a Career Phase
Owning a business often involves wearing multiple hats, from sales and marketing to finance and HR. This diversity broadens one's skill set and offers unique learning opportunities. As an entrepreneur, you'll learn about business administration, strategic planning, and decision-making. These skills are not only valuable for running a business but also for career growth in the corporate world.
A study by the Kauffman Foundation found that entrepreneurs who sold their businesses and returned to the workforce often secured higher-paying jobs and quicker promotions. Their entrepreneurial experience provided them with valuable skills, making them more appealing to employers. This suggests that business ownership can be a phase in one's career, paving the way for future growth.
The Concept of Portable Skills
Entrepreneurs develop skills that are 'portable' - they can be applied across various industries and roles. These skills range from project management and leadership to strategic planning and adaptability. Furthermore, entrepreneurs often enhance their communication, networking, and problem-solving abilities, which are universally sought-after skills.
Richard Branson, the founder of Virgin Group, believes that entrepreneurs can be successful in any field. He attributes this to the transferable skills entrepreneurs develop, such as the ability to spot opportunities, innovate, and adapt. These skills are the backbone of a successful career, Whether you're an employee or an entrepreneur.
The Entrepreneur's Impact on Personal Career Growth
Business ownership also stimulates personal growth and shapes one's perspective on career development. Running a business demands resilience, adaptability, and persistence. These traits foster a growth mindset that transcends business ownership, influencing one's approach to personal and professional growth.
Serial entrepreneur and technology executive, Sara.fragment, emphasizes the importance of continuous learning and self-discovery. She believes that business ownership forces you to confront your strengths and weaknesses, propelling your personal growth. Thus, owning a business nurtures your career development, even after you've sold your business or moved on to new ventures.
The Legacy and Network Effects of Business Ownership
Moreover, owning a business leaves a lasting impact on your career. It adds a significant feather to your cap, demonstrating your ability to create, manage, and grow a venture. This can enhance your credibility, open up leadership opportunities, and expand your professional network.
Facebook's COO, Sheryl Sandberg, started her career in the public sector. However, her experience at Google and her tenure as the vice president of global online sales and operations at eBay greatly influenced her leadership style. Her entrepreneurial spirit played a pivotal role in transforming Facebook into a global powerhouse. This illustrates how business ownership can shape one's career, even before taking the entrepreneurial leap.
Ultimately, owning a business is not so much a career as a dynamic, enrichment-yielding phase of one's professional journey. It fuels personal growth, broadens your skill set, and leaves an indelible mark on your career. So, rather than viewing business ownership as an endpoint or a separate career path, consider it an evolve course that propels your career growth in unanticipated ways.