Do you have the entrepreneurial spirit to build a life you love?

How to know if you have what it takes to start or build a micro business to create a new kind of life.

The world is changing - rapidly. Workplaces continue to evolve, technology is unlocking new opportunity & somehow we are all looking for a new ways of doing things. It could be that you're looking to be more sustainable in your choices or live a healthier life.

But have you ever considered starting your own micro business as a way to transform your life?

If, like me over 20 years ago living the corporate life in a somewhat dazed way, you've ever stared out of the window and imagined rearing pigs, becoming a florist or some how becoming your own boss, then perhaps the burning question is - have I got what it takes?

My journey to micro business founding and ownership started more that two decades ago and frankly, has been a journey. Despite success climbing the coporporate ladder with the business card and posh car to prove it, I really had never considered if I had the temperament to be my own boss. I simply jumped ship when I felt desperate and thankfully swam.

Today I work at business schools, deliver national business support programmes and teach on an MBA module I wrote about entrepreneurship.

Having, cultivating and nurturing an entrepreneurial spirit is possibly the single most important factor in the survival and success of any business. That goes for employees with entreprenurial acumen in a team to founders of something new. It's less about 'being an entrepreneur' and more about behaving like one.

So what is that? How can you be sure you have entrepreneurial skills? Here are some factors to consider for yourself. Not a guarantee of success of course, but perhaps an encouragement that micro business ownership, even if it stays as a side hustle, could be for you.

1. Definition - there are lots of those, some more successful than others. Let's try 'entrepreneurs as individuals who exploit market opportunity through technical and/or organizational innovation' [Shumpeter 1960s] for size or perhaps 'the identification of business-related opportunities through a process of using existing, new or a recombination of resources in an innovative and creative way' [Ratten et al] better fits the bill? For me, it's about the pursuit of something new often outside the known resources or experiences of others. To be an entrepreneur is to 'explore the unexplored' in many many ways. Is this you perhaps?

2. Mindset - and this takes us to ways of thinking or temperament. Entrepreneurial activity is often about how a person thinks and creates rather that what it is. 'Thinking outside the box' or having a positive approach can be considered entrepreneurial skills. This is more potent when it's accompanied by curiosity and persistence to not accept the world as it is today.

3. Process - with an understanding about what entrepreneurship is and perhaps the mindset required, then what is the process of activity? There are many academic models to this but all include the following 3 elements:

   1. opportunity - the spark of an idea, the gap in the market, the unserved community or lack of skills bank. These need to be assessed for viability & potential.

   2. resources - what is required to bring this potential opportunity alive from start to growth.

   3. team - who will be the people or the driving force for the entrepreneurial activity? How will strategy be established to bring ideas to reality?

4. Setting - of course entrepreneurial spirit can pop up in many, many different settings and isn't limited to the pursuit of vast global profit. Entrepreneurial activity can happen in a creative community, inside a charity, to disrupt a sector or market, to engage communities or transform place.

If you find that you're a person who asks lots of questions; needs to understand 'why' something happens in the way it does; feels frustrated by the status quo; wants to change something; feels persistently curious about whats around you; has untapped creativity or feel stifled by the day to day; my guess would be that you have latent entrepreneurial energy that could well be the fuel you need to begin to build a life you love more.

If this has created some curiosity for you or has sparked your ideas to light up again, then I'd like to signpost you to Simply Club - a growing community where you can get 24/7 support to start, build or grow your entrepreneurial dream as a micro business owner.

About the author:

Emily Whitehead is the founder of Simply Club, Britain's membership club for micro business owners — those with 0–9 employees. With more than 20 years in business support, running her own coaching consultancy, she champions the 96% of UK businesses that are micro, helping owners turn big ideas into calm, workable action. When she's not coaching or hosting a Meet Up, she's usually cheering on someone else's business. Learn more about Emily, or join the Club and never run your business alone again.