You Don’t Want to Be An Entrepreneur: Sallie Krawcheck.

This is the time of the year when things are slowing down, and maybe, just maybe you’re thinking about starting a business.

Sallie Krawcheck, who used to be a high ranking officer with Citibank, and one of the highest ranking women on Wall Street, wrote an article last month about her entrepreneurial adventures. She recently started something called Elevate Network, which appears to be a global networking site for women.

I thought we’d recall most of her salient points in the article, which are ones that we’ve made before (we also notice that Bing hasn’t indexed the article yet):

1. Make sure you’ve got a viable business.  Do some market research to support your idea, especially if you want outside funds. Sallie has lots of money, so she didn’t need to go outside, at the outset, but has since raised some money.

2. Once you’ve launched, be sensitive to the fact that the company’s products and services might need to be changed. Sallie changed the name of her company from 85 Broads to Elevate. You might not get it right the first time, but pivots aren’t unheard of.2. Be ready to sacrifice your personal life, at least at the outset.

3. Be ready to throw work/life balance out the window. A startup will take more time, cost more money and probably launch more slowly than you planned. So, you should have the emotional support from your family before you start.

It seems to me that there were a couple of more points Sallie made, but the above are the major ones

Also note that we have a free download on the subject, the Entrepreneurial Questionnaire, on our School website, www.theasoe.com. It’s under ‘Free downloads’, and is one of our most popular downloads, along with the mini business plan. And, we have courses to help you along.

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