Kate Phillips

Life, Prosperity, and Small Business Coach. Author. Speaker. Trainer. Singer/Songwriter.
Seattle, Washington

Articles » Starting a business »

Greatly helpful

8.4

out of 10

25 votes

The "Are You Ready to Be an Entrepreneur?" Test

If steady paychecks and benefits sound BOR-ing, you might enjoy the excitement and unpredictability of "starting your own business!" Not sure you’re ready to make the leap? Try these simple "tests" to see if you’re a natural entrepreneur.

Written Oct 06, 2009, read 5468 times since then.

Are you tired of steady paychecks?

Bored with the predictability of the 9-5?

Are your benefits so crappy you're thinking, "why bother with benefits at all?"

If you love a good challenge and long for excitement and unpredictability, you might enjoy a financial version of skydiving called "start your own business!" Just jump out of the corporate plane and hope your parachute opens in time! (Or better yet, have someone PUSH you out of the plane with a pink slip!)

Not sure you're ready to make the leap? You might first want to try these simple "tests" to see if you're ready for self-employment.

Have your regular payroll checks deposited into your best friend's account instead of yours, and instruct them to wire you money on an irregular and unpredictable basis. Make sure you never know very far ahead of time when you will get paid or how much.
At the same time, spend down your retirement funds against your better judgment, and use your credit cards more so that your bills slowly increase.
When you've mastered those challenges, have your friend tell you "the check is "in the mail," then let you know a week later that it won't be coming after all.
When you do receive money, have them ask for it back a few days later. If you've already spent it, shame on you, have them throw a fit and demand an immediate refund because they've changed their mind.
Pretend to cancel your health insurance, then become violently ill and try to figure out where to go for medical treatment.
Spend a day practicing your "elevator pitch" in the Columbia tower elevator, see if you can get anyone the least bit interested in what you do before someone calls security.
Attend business networking functions with perky people at 6:30 a.m. and see if you can a) not want to hurt any of them and b) remain conscious until dinner time.
Now attend business networking happy hours, stay too late, spend all the money you made that day, and see if you can get up at 5:00am to repeat the process.
Start working 80 hours a week instead of 40, staying on the computer at all hours until you can't remember what your hobbies used to be and your sex life withers and dies.
Practice applying for a mortgage and ask the loan officer to burst into laughter upon reading your application.
Start a blog, a Facebook Fanpage, a Twitter profile and an email newsletter all in one week. Now, try to find time to write interesting things.
Ask your parents to call you weekly and ask you "when are you getting a real job?" and to suggest the real jobs you should be applying for.
Instruct your significant other to look worried and say encouraging things with a fake smile. It's best if they can alternate that with impulsive talk about wanting to leave their own steady job to follow their dreams.
Add up the costs of a professional branding, marketing and website, legal advice, coaching and consulting, all business licenses, insurance, and certifications, all equipment and clothing, continuing education and office rent for the first six months in business. Now, double it for good measure. Add on the basic living expenses you will need while your business ramps up. This is the amount you need to start your business. Now, divide it by 25. This is your budget. Good luck!

If you're laughing and not too frightened, then this owning-your-own business-thing just might be right for you. Be warned: it could take longer, cost more, and be harder than you predict, but it will be worth more than you imagine when you get there. The feeling of carving your own way in the world without a boss is a beautiful feeling, and for those destined to take it, it's an irresistible journey.

Learn more about the author, Kate Phillips.

Posted by Karen Plowden, Las Vegas, Nevada | Oct 07, 2009

This is an incredibly funny article. Thank you for this.
Posted by Mark Combs, Fernandina Beach, Florida | Oct 08, 2009

I'm going to skip right past #9 and pretend that you didn't include that one at all.

But I've got to ask how you find the time to work a "significant other" into that mixture (#13) and if you find yourself keeping up with them more through Facebook or Twitter.

Surely you never have the time to see them in person. LOL
Posted by Kate Phillips, Seattle, Washington | Oct 08, 2009

THanks Karen, I had fun writing it! Just some late night silliness. A business does NOT have to look like this.

Oh crap, Mark, you're reminding me of #15, when you go into business TOGETHER with your significant other, then split up, but realize the business can't exist without both of you, so you're trapped in it together until it sells a looong time later. (SO maybe the test is to practice running a business with an ex, because your current SO could become one!)

Kate
Posted by Kate Phillips, Seattle, Washington | Oct 08, 2009

And yes, practice only texting and IM'ing your significant other, spending only one quality hour together a week.
Posted by Rachel Whalley, MA, MFA, LMHCA, Seattle, Washington | Oct 08, 2009

That's why I refuse to work on Saturdays, and I refuse most social plans, too. It's all time reserved for me and my hubby.

Occasionally, I go without computing, too. :)
Posted by Karen Floyd, Seattle, Washington | Oct 08, 2009

Dear Kate,

I can honestly say despite the wonderful humor you did NOT exaggerate! Which may make this article not so funny after all.

Like you say for the true entrepreneur this is an irresistable journey so it's not like we had a choice right?

Bless us all! hehe

Karen Floyd
Posted by Karen Floyd, Seattle, Washington | Oct 08, 2009

PS Kate, I wanted to give you a 10 but the configuration of this page is weird and will not let me vote. Just an FYI
Posted by Shannon Evans, Bainbridge Island, Washington | Oct 08, 2009

Kate, While I did not find this "greatly helpful" as per the rating system...I did find it great medicine for my ears/eyes this morning and rated it highly! Thanks for the good belly laugh and snorting guffaw...and a good kick in the pants to find why I love working for me. Sometimes we start to take ourselves and the economy and the hard work involved too seriously. You wake up at night with knots in your stomach and in a cold sweat so stressed out over how you will pay bills, attract new clients, market, etc. Then there are mornings like this where you are so fired up you are at your desk at 6 am bright eyed and bushy tailed and ready to take on the world.

This was just what the doctor ordered! Now pardon me while I get some glass cleaner to wipe up my computer screen. I believe there is still some coffee on it from where I was laughing so hard it shot straight out my nose!
Posted by Dave Waite, Los Angeles, California | Oct 08, 2009

I did laugh, but ohhhh so true.
Posted by Kate Phillips, Seattle, Washington | Oct 08, 2009

Rachel, glad to hear you and the hubby don't let the biz come between you!

Karen, the format on my screen is really wonky, too, so thanks for the high-rating thought! Although we always have a "choice," we obviously find our own work fulfilling enough to push forward.

Shannon, I really enjoyed your response! I'm glad to be a bright spot in your morning (and I hope your computer's ok!)

Thanks Dave.

Kate
Posted by Rob Harrison, Seattle, Washington | Oct 08, 2009

Kate, that was the funniest thing I've read on Biznik. Thanks for helping me start my day with a good laugh.

Rob
Posted by Howard Howell, Seattle, Washington | Oct 08, 2009

Kate... Thanks so much for starting my day with a great laugh out loud that is funny only because of the truths it contains. The entrepreneurial junkies I hang it with will appreciate it the most. ...Howard
Posted by Kanna Hudson, Portland, Oregon | Oct 08, 2009

Hee hee, this is hilarious! Thanks Kate.
Posted by Judy Dunn, Seattle, Washington | Oct 08, 2009

The best humor is just exaggerated truth and I think you've done that here. You've connected with all of us and, as Howard said, it was great way to start the day. (Even though your rule #9 made my workday start almost five hours ago!)

Great piece, Kate. And so true.
Posted by Bryan Rust, Seattle, Washington | Oct 08, 2009

Some much needed humor on a serious subject!
Posted by Kate Phillips, Seattle, Washington | Oct 09, 2009

Rob and Kanna, it's so nice to know I'm not the only person who thinks I'm funny!

Howard, I was sure you could appreciate this. Being the entrepreneurial junkie that you are, you know all about the challenges that business owners face!

Thank-you Judy, and I hope for Bob's sake it's only the first part of #9 that you're suffering from! ;-)

And Bryan (fun to see my guitar player and musical partner randomly "pop in"), I think that a sense of humor is absolutely required to be an entrepreneur!

Kate
Posted by Chrystal Bougon, San Jose, California | Oct 15, 2009

FUNNY! Great reminder for all of us entrepeneurs. Love it.
Posted by Robbie Schlosser, Sunnyvale, California | Oct 15, 2009

Hi Kate. WONDERFUL piece of insight! Love your can-do candor, cutting directly to the chase. Nice, how you set up your conclusion, that being an entrepreneur is delicious if you're prepared to make it work (through all the bumps-in-the-road you named, and more). I've been successfully self-employed over 30 years, and like you said, sometimes a good day is when nothing goes wrong. And sometimes a good day is when everything goes right. Just know how to take care of business, and never give up.
Posted by Jen Jaciw, Milpitas, California | Oct 15, 2009

OMG, so true! Thanks for keeping it light! Jen
Posted by Kate Phillips, Seattle, Washington | Oct 15, 2009

Chrystal and Jen, thanks for reading, commenting, and laughing!

Robbie, I love what you say about a "good day" (sometimes it's when nothing goes wrong...) I remember a good month in the restaurant biz was when no equipment broke requiring unexpected expenses, and no storms or other natural disasters that caused revenue to plummet. Thanks for reading and for your comments and compliments!

Kate
Posted by Tannya Bernadette, Seattle, Washington | Oct 16, 2009

Oh my goodness! This is so true yet so funny. It takes a special type of personality and a lot of self motivation to make the entrepreneur. I love how all of us can relate. I've done this on my own a year and have loved the ups and downs, you learn a whole lot in a short amount of time :-)

Tannya Bernadette
Posted by Kate Phillips, Seattle, Washington | Oct 17, 2009

Yes, self-employment is a crash course in a lot of things - including but not limited to business!

Thanks for reading, Tannya.
Posted by Dawn Thomas, Los Altos, California | Oct 17, 2009

Kate--your article was so well written (and funny!). Thank you for taking the time to share it with the Biznik community!

Cheers, Dawn Thomas
Posted by Kate Phillips, Seattle, Washington | Oct 22, 2009

Thanks Dawn! I used to be a real estate agent myself, that could be a whole 'nuther comedy routine...
Posted by Terra Paley, Los Angeles, California | Feb 06, 2010

Let's just say that we have all experienced most of this-or we would not be where we are. Only if you wrote this for a rueful laugh, it would be enough.

Really Kate, you are soooooo funny, witty, talented and you sing to boot. How much talent is one person allotted? This is great-super great in fact. You rock!
Posted by Michael Hartzell, Seattle, Washington | Dec 13, 2010

Made me SMink = SMile and think at the same time.

Way to go.

Guerrilla Marketing Ideas that Rock!
Posted by neil lemon, Kennesaw, Georgia | Dec 13, 2010

Say Kate,

I caught your singer/songwriter ID. I feel your vibe. It's interesting how every artist photo I see like yours, is like a CD cover photo.

Peace