It's Not For Me to Say (Reprise)

The Hale-Williams Entrepreneurial Test Part Two

 

Question 3: Do You Live to Work?

So which is it: Do you “work to live,” or do you “live to work”? We know this question has become a cliché, but it also happens to be an apt inquiry at this point, so humor us by deciding which answer best fits your personality. If you find you’re the type of person who “works to live,” you may want to put down this book, take a hard look in the mirror, and decide if running a business is really for you.

     Proprietorship is not a nine-to-five job; it is a life endeavor. Learn it, live it… love it. The quicker you accept or reject this notion, the better. We sincerely hope each of you has come to our “paperback symposium” with a burning desire to “live your work,” almost to the point of obsession. That’s right, we said obsession.

     A burning passion for your business will help you in every way. When we began our careers, we lived our work to the point of obsession. It flowed into every facet of our lives, and it paid off handsomely for us. That’s why we truly believe that, without embodying the “live to work” ethic in our early years, we wouldn’t have been nearly as successful as we are today.

     Now, after a few hundred major successes, we are able to live to work so we can live, while the joy we get from running a business continues to flow into every facet of our lives. Now we love every minute of it.

Question 4: Your Business or Your Life?

We hear what some of you are saying: “I’m a born workaholic, but that doesn’t mean I want to remain one for the rest of my life.” We say, Who does? But one of the fundamental things one must understand (and accept) about the lifelong challenge ahead is how much time it’s actually going to take to get your business off the ground.

     No designer on earth would be able to sustain eighty-hour workweeks for the duration of a career, but you’d better believe you will be working heavy hours in your early years, or you’ll never get established. You’ve got to want it more than the rest, remember?

     As an entrepreneur, your business is your life, especially in the beginning. It is a lifestyle as much as it is a profession; and if you do it right, you’ll find the line is quickly blurred between the “real you” and the “entrepreneurial you.” If that is a frightening notion, you might want to reconsider entrepreneurship.

Question 5: Do You Do Residential?

As you know, we believe it’s more realistic for a young design graduate to start his or her own residential practice because of the opportunities to get in the game. If you need a refresher, check out the inherent perks that come with starting a residential practice, and then tell us whether or not you’re interested:

·       The capital investment to start a residential design business is relatively low.

·       Residential designers can start out working from a home office.

·       Word of mouth works better in residential design than in any other design sector.

·       More money can be made in residential design than in other fields of design.

·       Residential designers only have to sell their skills to a select number of clients.

·       It’s relatively easy to establish clientele through networking, social settings, and professional events.

Question 6: Do You Have a Twelve-Month Cushion?

Besides residential design, young entrepreneurs have also been known to dive into product design right out of the gate. This is a wonderful choice if the designer has a great product, furniture, or accessory idea and the resources to turn a dream into reality.

     But here’s the hard part: Regardless of what segment of the industry you choose, young designers starting their own business shouldn’t risk it unless they’re able to support themselves for the first twelve months with no income. That is not a misprint. In this day and age, young entrepreneurs need twelve months of cushion—no kidding. As with any business, you have to understand that you aren’t going to take every job that comes along. This means you have to be able to live through the rough times in the beginning, hence the cushion. Are you still interested in starting your own business?