Is it time to set up my own business?

Leadership clinic: You ask, our experts answer. One reader gets some key advice from Octopus Group's founder and CEO Simon Rogerson.

by MT Staff
Simon Rogerson, Octopus Group

Q: I am a senior director within a large company. I have been working there for years, but I’m feeling increasingly disillusioned with its strategy. Out of nowhere, I’ve been hit by an entrepreneurial streak and decided I’d rather work for myself. I could set up a rival company in the same space as my current employer and, I’m sure, do it better. Is life greener on the other side? And how do I know if I have the right temperament to work for myself?

Simon Rogerson says: “Yes” is the short answer. Life is most definitely greener on the other side – as long as you don’t mind the green being tinged with some shades of blood red every now and again. The sense of purpose and the feeling of accountability that comes with setting up your own business is the ultimate drug. You will eat, sleep and dream about your new business, probably to the annoyance of everyone around you.

The idea of setting up a business in a sector you’re already familiar with is also a good one. It’s difficult enough building a business from nothing without the added challenge of doing so in a sector you’re not familiar with.

In terms of timing, there’s no way of telling when is the best time. It’s dependent on so many factors you can’t control. So I’d encourage you to get on with it.

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