“As an entrepreneur type person, I thought all I needed was passion and energy, but practicality and realism is the key..”
“They say self-employment is not for the ‘faint of heart’ or sole proprietors are “sole” because they don’t work well with others. We’ve heard those jokes before, and they are somewhat true; but it’s also about harnessing the power of your entrepreneurial attributes, OCD, ADHD, anxiety or control issues or whatever you have and making it work for you.
I know that in my previous jobs as an employee; I worked and cared about the business like an owner; so why not make that money on my own? I was grateful when I came back to Nanaimo and found the Self Employment Program delivered by the Ethos Management Group along with my local Community Futures office. I had the skills of my trade but knew nothing about the business side. I needed that education and without Ethos, I’m not sure I would be celebrating a sole proprietorship of 10 years!
The most useful courses in the program was assistance with Writing a Business Plan and the Beginner Accounting courses. The business plan helped me to learn how to actually plan things, and do the math and it also allowed me to have something to take the bank for small loans to buy equipment. A bit grueling to detail at the time, but I have pulled this document out numerous times.
The accounting course taught me to keep initial expenses low. Keep overhead low with used equipment until I could afford and assess what upgrade were necessary. This kept me from going into debt for the first few years. In fact, I’m still using the same old printer.
It was also key to have the group course where I heard what other small business owners were up against and to ask questions to the coach. The practical skills I learned from the Ethos Management Group and Community Futures is why I’m still in business today – no joke! As an entrepreneur type person, I thought all I needed was passion and energy, but practicality and realism is the key. And showing up every day despite the challenges.”