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Is an entrepreneur made or born?

October 21, 2006 by Elizabeth Potts Weinstein · Leave a Comment 

Are business owners destined to start a business? Or is entrepreneurship something that can be taught, a skill, like learning how to be a surgeon or accountant? When I was 5 years old, my mother was contacted by my school because I got in trouble. Shocked, because I was a good student, she asked the kindergarden teacher what happened.

My teacher had told me to do something that I did not want to do. I responded, "You are not the boss of me. I am the only boss of me."

Are we surprised that 24 years later I quit a six figure job and promising legal career in a fancy law firm, to open my own business? My nephew Eli is very much the same. At age 5, when he enters a playground he immediately starts organizing the children into a complicated game of his own design (including kids 8 years his senior who have no interest in being bossed around by a kindergardener). On his first day of school, he went around the room introducing himself, and told the prettiest girl in the room that he had saved the seat next to him just for her. He’s going to be either an entrepreneur, a politician, or a evangelist. So perhaps I am especially programmed, given a set of gifts that makes me think like an entrepreneur. If we are being chartiable, call me confident and comfortable with risk. If we are being somewhat uncharitable, call me a know-it-all. But it is more than that. To start a business, not only do you need to be confident in your abilities, and comfortable with the possibility of failure — you must be a smart worker (not just a hard worker), efficient. Able to see the unexpected, put 2 and 2 together to make Q’. The ability to dream, to care, to want to change something and actually have the guts to do something about it. Vision. Entrepreneurship is not just vision, though. Vision is 20% of success — it is the motivation, why we are here, the dream of success and how we will change the world. But that’s only the start — 80% is follow-through. Will you stick it out, through everyone thinking you’re crazy, months of ineffective marketing, piles of paperwork, complaining clients, late hours of wondering if you will ever break even, and then, if you will ever be able to pay yourself a salary? You must also work smart. Instead of just plodding through, working hard, you must be a marketing expert, a business strategy expert. You must find experts to help you reach this vision — read books, blogs, website, e-books, go to seminars and conferences, hire a coach or two. And then finally, you must have brass b*lls. You must have the gumption to ignore the comments and criticism and not them deter you from your choosen path. When I quit my job, the partners at my old firm thought I was crazy. One partner kept trying to convince me that I "had a future" there (but was that a future that I wanted?) and telling me how good my review was going to be in a few weeks. And, he said that he hoped that I would fail so I would come back and work for him (is that supposed to make me want to come back?). Another started asking me, how was I going to get clients, how was I going to do marketing (I would still have to do that as an attorney…). But by the time I quit, I knew exactly what I was going to do. I knew it was my destiny, and had an answer for every question. By that time I had been working on my business during train rides, lunch breaks, and after hours, and already had a plan and was excecuting on that plan. Some people would not be able to handle that criticism. Some people would let someone in authority talk them out of it. That is the difference between an entrepreneur and an employee.

How do daycare users do it?

October 18, 2006 by Elizabeth Potts Weinstein · Leave a Comment 

I now fully appreciate the #1 reason a nanny is superior to daycare. On Monday Gracie got a bunch of shots, including the fourth booster of her DTaP. Not fun for either of us — but it’s over in a few seconds, and after some cuddling and her paci, she recovered quickly. Or so I thought. As the day went on, Gracie became more and more tired — such that right before her bedtime, I found her curled up in the rocking chair with her two favorite dolls (Dora and a cabbage patch, both with silky hair). Very odd for a child who is typically running around the house screaming and chasing the cat, at the 10-minute-to-bedtime countdown. But, perhaps her nap was not long enough, and she had a busy day … That night I packed Gracie’s snacks and diaper bag for backup daycare — for October my regular nanny is still on maternity leave, and my summer nanny is back in school — so I am using the daycare available as a backup childcare solution through my husband’s law firm. Gracie enjoys going there — a great chance to play with new toys, new kids, and new adults. And, I can get some work done. But Tuesday morning Gracie woke up hot. And not hungry (a first!). Her temp was 99.7 underarm (which means almost 101 internal) — officially un-daycare-able. I tried to douse her with Motrin - but she was still obviously lethargic, and I am too honest to try to fool daycare. Made me so mad — it was just from the vaccine — but I could not put her in daycare becuase of her fever. On Tuesday, I had two new client appointments scheduled, a handbook to write, and a teleseminar class at noon. I hate canceling! I thought of calling a service for a nanny to watch Gracie while I have my appointments and teach my class. I was so angry — why is it that I am the one who has to cancel everything to take care of Gracie? Why is there no system to help me? It’s not fair that everyone else has family or friends or neighbors who can help out! (of course, I was the one who moved from Missouri to California …) But later that afternoon, Gracie woke up from her nap, early and feverish. I held her in my arms for the next hour while she slept. Sleeping, she was an infant again — all perfect, peaceful, and venerable. How long until she no longer wants to cuddle with mommy? My anger evaporated. Gracie is the most important thing to me — and if I have to reschedule client appointments, and record my class afterhours for download distribution — that’s fine. She’s not a sacrifice — she’s a joy! But I am glad that my regular nanny is starting Nov. 6th. A Nanny is double the cost than daycare, but infinitely more convenient.

Is it possible for a solopreneur to take a vacation?

October 14, 2006 by Elizabeth Potts Weinstein · Leave a Comment 

Not sure if I am capable of taking an "at home" vacation anymore. I’m great at not checking email or doing work when I am out of town, but last week when Grandma and Papa were here, I was working on projects and checking email all day long most days (except when we were out of the house). Probably was also influenced by my dad, who has his own internet business, and was answering phone calls and doing a bit of work throughout the week. Hard to cut off when you are a solo-preneur, since there really isn’t anyone else to deal with the issue, or solve the problem. And, hey, we love it, don’t we? That’s why we are doing it — it’s not just a job, it’s a passion, a hobby we get paid for — so we don’t feel that need to escape felt by those who are still employed. But we do need a break. If nothing else, just to recharge, get new ideas about pending issues, let our minds incubate until we attack the projects upon our return. On Wednesday, I made a conscious effort to not work for the entire day. I felt incredibly decadent. Perhaps I should calendar vacation-days regularly. Or at least take one day off each week.

Running a business — with out of town guests

October 10, 2006 by Elizabeth Potts Weinstein · Leave a Comment 

My parents visited this week, from St. Louis, Missouri — great for Gracie, and actually very helpful for me. This month I do not have regular childcare, and am trying to run my business with just 1-2x week of backup daycare, and lots of television. Not optimal. So, Grandma and Papa watched Gracie on Tuesday while I wrote the handbook for Week 3 of my 8 Weeks teleseminar, and while I conducted Week 3 of session A (noon) and Week 1 of session B (8:00 PM). I felt slightly guilty for them to spend one day mostly babysitting, but actually it was a great chance for them to spend alone time with Gracie. By the end of the week, Gracie was calling them Grandma and Papa, and was totally comfortable hanging out with them when I was not around — success! I just wish Grandma and Papa lived around here — partially for the bonding, but also for the babysitting.

Camping alone with a 18 month old toddler is crazy.

October 1, 2006 by Elizabeth Potts Weinstein · Leave a Comment 

But it is a great workout. In two days of camping, I lost 7 lbs — even though I stayed hydrated and ate tons of junk food. From what, you may ask? Chasing a baby around the campground while simultaneously erecting a tent, starting a campfire, heating water for a bottle, and driving off raccoons who did not seem phased by me screaming at them. Add a few mini-hikes with Gracie in the backpack carrier, and I had a major boot camp workout. Dear Husband (aka Mark) was unable to come out with us on Thursday afternoon, and did not arrive until Friday dinnertime, due to work issues. When he arrived, he was not in mental shape (or dressed) for camping, and was freaking out because his blackberry had stopped working a mile before the campground entrance, so he did not know if a Notice was served. I responded by placing Gracie inside the SUV to watch Dora on DVD (horrible to give in to this when we are trying to enjoy nature, but oh well), dousing Mark with a few glasses of Pinot Noir, and making reassuring noises while Mark paced around the campfire talking nonstop until the wine kicked in. Mark is not a camper. Until me, he had never even built a campfire or roasted s’more’s. And he still is not really into it. Quote - "we work hard and make all this money so we can buy a nice house, and so we pack up our car and decide to camp in a tent in the woods, like a homeless person?" Of course, just by driving through the campground, we can see that homeless people need not apply — the campground is full of BMW’s, Mercedes, and $40K SUV’s. He just does not get the charm of sleeping on the ground (actually, a nice air mattress) or taking an hour to assemble and break down camp (lessons in self-reliance, and following directions). I’m planning to problem solve those two issues for him by buying a pop up trailer camper. Either an A-line ($10-16K new) or the Trailmanor ($26K new and heavier). Need to research them more, and find out if the new SUV can tow them (and I can feel comfortable driving with a trailer). But if I can get him sleeping on a real mattress, and make settling up camp take just a few minutes, then maybe he can enjoy camping. Or at least not complain. I can only deal with one baby with me when I am camping.

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