Let me think: weekly paycheck, health insurance, possible bonus, company car, laptop and blackberry or starting up solo without any security?

In this economy, with so many folks out of work, even the most driven (but struggling) entrepreneur, if given the opportunity to work for a large corporation making six figures, would jump from their start-up ship yelling “Yes”.

In this week’s Fairfield County Business Journal, one savvy entrepreneur, passed up large company security and $160,000 to remain just that, an entrepreneur.  Rebecca Hendrix, founded “Ladies Who Launch”, a company that provides networking and support through seminars and workshops for start-ups throughout the tri-state area and in  Chagrin Falls, Ohio.

In recent days, she received a call that tested her entrepreneural driven spirit and company premise.  A Manhattan job was hers for the taking and along with it came the usual big company perks.  Hendrix declined the offer.  Would you?

Your probably thinking: Well, it depends…How viable is my idea? How is my present company cash-flow? Is my start-up strong enough to weather possible storms ahead? Let’s face it, for young entrepreneurs (and I don’t mean young as in age), the past year has been a beast and the beast is still hanging around.

My opinion (not that you asked), is that the article doesn’t give the reader enough information about Ladies Who Launch, it’s success, it’s struggles, it’s loyal client base.  Hendrix’s staying power speaks volumes but I would like to know more about why.  How about you?

visit: www.westfaironline.com to read more about Rebecca Hendrix

Dream it.  Believe it.  Achieve it.

You may already know about Sara Blakely’s journey to creating a multimillion dollar enterprise known as Spanx. I encourage you to renew your motivation by pondering this woman’s success and reminding yourself that if you seriously believe in your product and/or service, you can achieve it.

With absolutely no business background, Blakely took a concept and product she believed in and created a company that is presently worth over $150 million dollars.  Two of the key things I always talk about on my marketing and branding blogs are common sense and starting with a good product, says Susan Gunelius of Womanonbusiness.com.

Ms. Blakely believed her product fulfilled a need in female consumers.  They wanted to  look their best without compromising comfort.  She personally used Spanx and enthusiastically went into the world with the “every girl needs this as part of their wardrobe” attitude.  She never doubted the benefit of her product.

Luck? Not really. The product is amazing.  She pitched her product to many reputable stores before Neiman Marcus put Spanx in their store.  It was a few short weeks later that The Oprah Winfrey Show called to tell Blakely that Oprah had chosen Spanx as one of her favorite products of the year.  With only two weeks notice of Oprah’s big TV announcement, boxes of product filling Blakely’s apartment, and no shipping department, she had her work set out for her.  The rest, yes, is history.

Dream it.  Believe it.  Achieve it.

How badly do you want to stay in business?  If you are hungry enough for success, you may need to consider finding a second job to stay the course.

Today, in WSJ.com, Raymund Flandez tracks a few struggling entrepreneurs who have resigned to the fact that, in order to fulfill their dreams, they had to become a part-time employees.  In one case, a young women accepted a job as an educational consultant, working ten hours a week.  With this financial security, she is able to fulfill her dream of creating preteen educational videos.  Another entrepreneur, whose sales are down 60% from last year, was having trouble managing personal expenses like cell-phone bills and car payments and had to stop taking home a paycheck.  He took a second job a few days a week so he could make ends meet.

Of course, the fear most entrepreneurs face is the  perception this will radiate to clients and other professionals.  First of all, most of the time, they never have to know about it.  Secondly, any loyal customer or client wants to remain just that.  They don’t want to see you fail.   Another concern is that a second job will zap your time and energy making creative thought and on-task performance suffer.   This may be a small price to pay now for success later.

Only you, the entrepreneur, can evaluate what it is that will work for you and for your loved ones.  If taking a part-time job can pay for daily expenses while you ride out a fiscally trying time, it may be well worth the time it takes away from your start-up.  Yes, it may take a bit longer, initially,  to see the growth and prosperity you are looking for in your company, but at least you are protecting yourself from having to close your doors.

On a personal level, my husband has had to take more than one part-time job during his start up.  It was the only way to stay afloat during tough times.  It is not only the economy that dictates tough times.  Even during a good economy a few bad business decisions can land you in the hot seat.  Moving to larger quarters before you are ready, advertising and marketing to the wrong audience, or employees that are not pulling their weight can all weigh heavy on a start up that has limited funds.  We have done all of those things…and more.

What’s your story?

Dream it. Believe it. Achieve it.

Last week, I began interviewing a very dynamic and successful restaurant owner.  We will be finishing up our interview later this week but I felt compelled to share one element of our interview that came out loud and clear.  This entrepreneur didn’t just dream of owning her own restaurant at a young age, she drew pictures of it’s appearance, created a detailed menu, chose a name, even went as far as to decorate the mantels of the three fireplaces.  Long before she was ready to buy the physical structure, she painted a picture of it, and the picture was not only in her mind, it was on paper.  She solidified her dream, she believed it would happen.

The pictures sustained her while she paved a path to achieve her dreams. They enabled her to remain patient in her process, but focused at the same time.  For years, she waited…she worked…she dreamed…she drew…she wrote…she talked…until the time was right.

Dream it. Believe it. Achieve it.

Paul Gervais began an art supply store and gallery during a time of economic uncertainty.  Smart?  Well, that all depends on the circumstances surrounding the start-up and in Paul’s case, it was very smart.  He was very unhappy with corporate America and, rather than search for another business opportunity during a time of major lay-offs, he found his own opportunity.  Paul also made financial provisions necessary to stay afloat in the event that business got off to a slow start.  

• Paul made his love of art into a social, creative and professional business.
•  He spent a great deal of time speaking with his wife about business opportunities and the ramifications of starting up. 
• Paul had his wife’s support and encouragement which is of utmost importance. 
• Paul and Sherry prepared for the financial burden of beginning a business by liquidating assets and cutting back on spending. 
• Paul looked outside of the box in terms of business opportunities and opened himself up to an array of income producing possibilities within his art store. 
• He networked with town businesses and earned client referrals.

Michelle Maturo, owner of Elevation Studio Spinning and Personal Training in Georgetown, Ct. is literally spinning in control.  Her spin classes are packed, her personal training schedule-booked.  How did she create a thriving business? Here are some highlights from my interview with her.  To see more, click here.

Michelle’s start up tips:

• Identify your dreams by writing them down.
• Make a mental commitment to yourself to achieve your goals.
• Believe in yourself.
• Seek out the resources in your industry and use them.
• Don’t be afraid and don’t doubt yourself- YOU CAN DO THIS!
• Push through the obstacles.

Michelle’s smart moves:

• Working “on her bike and on the go” rather than rushing to get office space.
• Marketing herself as an expert in the industry and “branding” herself from the get-go.
• Reducing overhead by subletting space in her office.
• Hiring “independent contractors” rather than full time employees.