Is This Your Time to Become an Entrepreneur?
Nov 12, 2024
Is This Your Time to Become an Entrepreneur?
In the article, Is This Your Time to Become an Entrepreneur? published in Training Magazine, on June 12, 2023, Neal Goodman states that entrepreneurship is becoming popular for many current and former employees. Many SIETAR USA members are already working in their own businesses and others are thinking about leaving their current positions and striking out on their own. In this precarious time, that could be a popular option since some DEIB and intercultural jobs may be in some jeopardy.
With over 50 years of experience, Neal exposes some of the myths and provides some guidelines for individuals contemplating starting their own learning and development (L&D) businesses. The first myth he busts is that many people think that when having your own business your time will be your own. “You think you will be your own boss but you’re not. Your clients are your bosses.” One of the first things you need to do is to minimize your ego. When you meet a potential client for the first time assume nothing and listen, listen, listen. He writes, “Motivation is critical. You must love what you are doing. This should be something you look forward to every day, especially early in the morning.”
The second myth to be jettisoned is that it will be inexpensive to start and test the waters. You should have working capital for at least one year. It may take a year or more before you get your first paying client.
The third myth is that landing a major client is all you need to do. During the course of his career, Neal gained and lost many clients due to changes in technology, economic crises, and pandemics. He says that no matter how successful you are with your best client, don’t put all your eggs in one basket. That basket could fail, and you will be devastated.
The bottom line is that owning your own company has extreme highs, with great clients, and then there are depressing downs when a great client terminates your work due to reorganization. After more than five decades, he says that his company (Global Dynamics, Inc.) took him to places he never imagined and allowed him to meet, learn from, and help some of the smartest people involved in global and diversity success.
Having recently sold his company, he now has the freedom to support people and organizations he most admires. You can learn more about his early experiences when you read his article in Training Magazine, from June 12, 2023. If you want to become an entrepreneur or have started but need ideas, you can email him at [email protected]. He promises to respond and wants to support your success.
Dr. Neal Goodman, CEO of Florida-based Global Dynamics Inc, is an internationally recognized authority on Cross-Cultural Competence, Global Mindset, Diversity, Equity, and Inclusion. A leader in DEI since 1963, his wealth of experience makes for a great reason to publish his article originally published in Training. Organizations and publications from around the globe seek his advice on creating globally inclusive organizations. He received SIETAR’s 1995 Outstanding Senior Interculturalist Lifetime Achievement Award and serves as Professor Emeritus at Saint Peter's University. He is most proud of his two daughters and grandchildren and still publishes articles about DEIB and interculturalism.
