Growth & Jobs | Part-time business is not and option - Page
The option of starting a business and doing it part-time could be an ingredient for failure.
That was Yaneek Page's assessment of the business market in an interview with The Gleaner on Friday. The renowned entreprenuership coach, indicated that prospective business owners should take the time to assess the market to ensure that they can launch out fully in their business ventures.
"The business will always be a fraction of its potential without somebody driving it full-time," the entreprenuership expert declared.
"Sometimes you think the business is failing because the business model is wrong, when it is really lack of leadership and not being there all the time," she continued.
Page said there is potential for even further growth in the business market for individuals and the country, but persons must be prepared to put in the work.
"When you are starting a business, you are required to function as a leader in that business. In its infancy, it needs someone to nurture, to care and to do all the functions that are needed to be executed. When you are starting out, you don't have a human resources department, you don't have a customer service department, you don't have anyone who would be in charge of operations, so you find that you are the only person in charge of every single thing," she said.
"Even if you are the ideal person, it would be difficult for them to start a business and for the business to actually develop in the way that it can with that person operating part-time. Quite frankly, the person who is leading the business is the person who is responsible for growing it every single day. That person is out there looking for opportunities and trying to get new customers, doing engagements, and then seeing how they can actually build an organisation. So you are really cheating the business," she continued.
Page added: "I believe in caution and making sure that you test the market first in terms of what people are willing to pay for, among other things; but once you are seeing that interest and you have evidence that the business will stay afloat, then it's time to go all in."