Should I start a business or should I work for a company

Should I start a business or should I work for a companyShould I start a business or should I work for a companyThere are tremendous benefits to becoming an entrepreneur. But it isnt for everyone. To decide whether to launch your own business, you need to take a good hard look not just at the industry you want to conquer, but also at your own skills and psychological makeup.Its a process I went through. Working in a fiercely competitive field (skin care and beauty products), I knew I could work for one of the huge corporations thatcontrolthe vast majority of the industry or strike out on my own. I chose to start my own business.It welches absolutely the right call, and Ive never looked back. Through more than three decades, Ive had the chance to call my own shots. Ive seen what it takes to last and succeed. Ive also seen fellow entrepreneurs come and go, succeed and fail. Here are some of the most important factors to consider in making your decision.Passion for learningTo succeed on your own, you have to constantly build and update a reservoir of knowledge. You need to know all the latest developments, technologies, and trends that affect your category and your market. You also need to learn what it takes to run a business, from finances to growth strategies to hiring the best employees or contractors. This process never ends, because new ways of doing business keep emerging.So being an entrepreneur means signing up for a professional life filled with learning, every day. Thats why you need a genuine passion for it. If you view learning new information and skills as drudgery, then entrepreneurship isnt for you.I love it. I get excited about attending classes and events despite the time commitment. And my willingness to keep getting educated helps keep clients coming back to me. They trust that Ill find an answer to help them.Motivation beyond moneyIt takes a great deal of time and energy, and even greater risks, to build a company. The idea of one day running an empire or selling your startup for a huge sum of money generally wont be enough to sustain you through all that work. You need a much deeper sense of purpose.If you have this, it will serve as crucial fuel. Im profit-minded enough to make aya my company is financially healthy, but driven more by love for the work itself. Its what gets me going each day.No matter what field youre considering, whether it be to help businesses (B2B) or consumers (B2C), its only worth starting your own business if your love for it is genuine.Confidence in building relationshipsPart of the irony of going off on your own is that, in many ways, it can require you to be even better at building relationships.To find the best people to work with in every aspect of your business, from suppliers to expert advisers, youll have to be confident and comfortable reaching out. I love doing this. Developing real connections with individuals is also a cornerstone in building trust and respect with customers.The inde pendence of controlling your own professional destiny is a great potential result of starting a business. But it takes a village to get you there.Fortitude to handle stressI had a stressful childhood. At a very young age, I had to navigate serious challenges due to my family situation. As a result, I became hyper vigilant. The way cats cansee in dim light, I learned to see pathways in situations that may feel dark.I came out of this experience able to handle stress. I dont cave under it I look for ways to get where I need to go. The toughness and resilience that I built up early on have benefited me as an entrepreneur.Ask yourself how good you are at handling stress. Try to think through stressful situations that may arise and how you would react. Speak with business owners about their most stressful times. Make sure you have the courage and fortitude to plow through similar challenges.AdaptabilitySucceeding at your own business will require you to remain steadfast and true to your principles and goals. But there are some ways in which youll have to bend.As your category and market evolve, youll need to tweak your offerings. As new competitors come along, or existing competitors take surprising turns, youll need to pivot. Even when you have your first successful product or service, youll need to work on improving it and building your next one. No industry succeeds by staying the same anymore. So make sure you have the humility and persistence to always challenge yourself to do better.I wouldnt trade this career for any other. The rewards, in business and life, are tremendous. If you think you have these strengths, then go for it. You just may surprise yourself and find that youre even stronger - and more ready for entrepreneurship - than you realized.Joanne Gogue is a Master Esthetician and Advanced Skin Care Educator. For more than 30 years, she has run a successful skin care businesses. She is passionate about skin care for people of all ages (including gi rlsandboys), as well as the beauty industry, entrepreneurship, business and helping people live their best lives.As creator ofJoannes Skin Care,she works directly with clients and customizes a treatment to each parts goals and lifestyle. She also does waxing, brow artistry, airbrush tanning and more.Thiscolumnfirst appeared atQuora.

Ready for the New Tax Law

Ready for the New Tax LawReady for the New Tax LawREADY FOR THE NEW TAX LAW?CFOs were asked, How prepared is your company to handle tax accounting reform changes?32% Very prepared56% Somewhat prepared9% Not very prepared3% Not at all preparedCFOs were also asked, How is your company preparing to meet the demands of the new tax accounting reform changes?*42%Conducting training34%Upgrading financial systems33%Bringing in subject matter experts21%Hiring full-time staff

Learn About the Holland Code

Learn About the niederlande CodeLearn About the Holland CodeA Holland Code is a three-lettercode that is made up of an individuals three dominant personality types out of six possible choices, according to a theory developed by Dr. John Holland, a psychologist. The six types Dr. Holland identified are collectively referred to as RIASEC, theinitials standing for the first letter of each of the following personality types Realistic, Investigative, Artistic, Social, Enterprising, and Conventional. If you took the Strong Interest Inventory, a self-assessment tool, your Holland Code was included in the results. This code could be the key, or at least one of the keys, to finding a compatible career. First, take a look at the theory behind this seemingly mysterious combination of letters. The Theory Behind the Code According to Dr. Holland, an individuals interests and how he or she approaches life situations determines his or her type.Since human beings are multi-faceted, Holland reali zed that one wouldnt only fall into a single category. Most people would fall into multiple interest categories. Each letter of your Holland Code represents the top three types in which you could be categorized. So now that you know what a Holland Code is, you might be wondering how it could have anything to do with finding a compatible career. Well, theres a second part of Dr. Hollands theory. He thought that, in addition to being able to categorize individuals by personality types, occupations could be classified in the same way. In other words, if he could classify people and classify occupations, he could then make matches between the two. It sounds simple, but in reality, there is more to finding an appropriate career than simply matching types. A complete self-assessment, which will probably include learning your Holland Code among other things, can help you choose a career, or at least get a feel for which types of work best suit your personality. Once you narrow it down to a group of potential career choices, you can more thoroughly research occupations before you make a decision about which to pursue. Although a certain career may seem like a good fit based on your personality or other characteristics, there are additional things to consider including the amount of training you are willing to go through to become qualified to get a job. Holland developed a self-assessment instrument called the Self Directed Search which uses the Holland Code. You can take it online for a relatively small fee. The O*Net Interest Profiler, a free online tool developed by O*Net for the US Department of Labor, Employment and Training Administration, is based on Hollands theory as well. As mentioned earlier, The Strong Interest Inventory also uses Holland Codes. More About RIASEC The Six Types Now for a look at RIASEC. The following provides a definition of each type along with a list of some compatible occupations. Realistic R A realistic person prefers concrete tasks . He or she likes working alone or with other real people. Some of the careers included in this category are engineer, plumber, audio and video equipment technician, chemist, dentist, furniture finisher, and rail car repairer.Investigative I Someone who is investigative likes to use his or her abstract or analytical skills to figure things out. He or she is a thinker who strives to complete tasks and often prefers to do so independently. These are a few investigative occupations sociologist,scientist, psychologist, and economist. Artistic A The artistic members of our society like to create things and they are imaginative. Artistic occupations includecreative writer, performing artist (including actor, singer, and dancer), photographer, and fashion designer.Social S A social person prefers interacting with people. He or she tends to be concerned with social problems and wants to help others. Here are some social occupations home health aide, certified nurses aide, RN,licensed practi cal nurse, social worker,occupational therapist assistant or aide, teacher, and clergy member. Enterprising E Those who are enterprising lean toward leadership roles. They are willing to take on challenges and are extroverted. They can be aggressive as well. Enterprising occupations include restaurant host or hostess, retail salesperson, attorney, chief executive, chef, and wholesale or retail buyer.Conventional C Someone who is conventional prefers structured tasks and tending to details. He or she is often conservative. These are some conventional occupations accountant, bookkeeper, actuary, cost estimator,human resources assistant, and loan officer. SourcesO*Net. My Next Move. Created for the US Department of Labor, Employment and Training Administration.Zunker, Vernon G., and Norris, Debra S. Using Assessment Results for Career Development. Pacific Grove, CA Brooks/Cole Publishing Company. 1997.