Do You Have what it takes to be an Entrepreneur?

So do you have what it takes to be an entrepreneur?
Are you a workaholic? An optimist? Perpetually broke?
That is what a study by The Constant Contact Small Biz Council of 785 people in March of 2015 who were running a small business, found that being an Entrepreneur is Tough! No surprise there. But the rewards are also great. What do you think, do you have what it takes?

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Small Business Survival Rates

As more people became unemployed during the recession of the late 2000’s, more people turned to entrepreneurship than ever before.

The challenge is keeping those businesses open. How can we better support entrepreneurs?

small business disappearace

More businesses exited both the goods and services markets in 2009 than survived. 1 in 2 businesses surviving is NOT good enough.

As advisors, our job is to both educate and mentor new entrepreneurs. We educate job seekers, but do little for new entrepreneurs. It’s time to open up and start talking about the challenges entrepreneurs face. If we can save even a few, our economy becomes all the more diverse for it.  Let’s focus on changing the numbers, empowering entrepreneurs, and becoming better business advisers.

Why Did You Become an Entrepreneur?

What Made You Decide to start your own Small Business?

Why did you become an entrepreneur?

I often get asked why I became an entrepreneur? Why did I start my own company? I could answer that I grew up in an entrepreneurial home, with a father who ran his own business for years.  I could answer, that the change agent  in me did not like working for large corporations and instead wanted to build my own business and make things happen. However, neither of these reflect reality. My answer, much to the surprise of most, is  that I became an entrepreneur out of necessity.

Throughout my professional career, I found entrepreneurship to be the one constant that I could keep coming back to.

I first started working for myself during graduate school as a way to make ends meet. I had worked for nearly 3 years in industry doing market research, proposal writing, financial analysis and marketing and sales. I brought these varied skills to entrepreneurs and started working with green energy companies at the time helping them re-write and re-design marketing materials.  After that, I kept doing the occasional business or marketing plan

“Throughout my life, I always found entrepreneurship to be the one constant I could keep coming back to”

I was home on maternity leave with my daughter and throughout this, worked on several projects to keep me busy. When my daughter was 6 months old I found out I was pregnant again. This barred any return to work.  Within another month, my husband found out that he was losing his job.  After the initial shock wore off, we began to think how we were going to manage.

Being the industrious type, I immediately began to seek out projects to work on to keep myself busy.  I tried different types of outsourcing and contracting, but time was limited with two kids under 18 months. I found quite a bit of success in writing business plans. Part, education, part experience, and part intuition I could relate to the entrepreneurs I met. I could understand their pain, as I had seen it before in my father and his colleagues understood, what I like to call “the entrepreneur crazy”, fever and passion all in one that these entrepreneurs had for their businesses. I was inspired by their energy and dedication and genuinely loved working with them.

At the time, I decided to return to school to improve my financial analysis skills. I pursued a designation in  accounting, a designation that focuses on strategy. I returned to work for 18 months as a requirement of the designation, but hated every position I was in.  After having worked for myself, I had a difficult time working for anyone else. Perhaps it was a distaste of authority, or as I like to call it of the “inefficiency” of large organizations, but I was not a happy camper during these times.

At home, my children were suffering too. They had wonderful caregivers, but they were not mom. I was seeing changes in their behaviour that I did not like. These combined with my own unhappiness, made for a very miserable home life for my poor husband. Night after night of miserable conversations, my husband just said, why don’t you quit.  While I was working for others I had continued working on several large consulting projects. It was in these projects that I found my passion again.  I took his advice to heart and took the leap.

That was four years ago.  Since then I have worked with hundreds of entrepreneurs, helping them to define their businesses and their dreams.  There is no going back for me now.  This is what I love to do, and want to do for the rest of my life.

What is your reason? What is your drive and motivation for working on your own? Why do you want to leave it all to begin a consulting career?  What will your motivation or dream be?  Perhaps like most of us, the decision is not a grand vision or altruistic social purpose but out of necessity, out of life change and a need to learn to fend for oursel

Entrepreneurs: Do You Love What You do?

Do You Really Love Your Business?

One of the things I never learnt in school was how to be a psychologist. Over the years, I took psychology courses, but with a graduate and a professional designation, neither of which are in psychology, I am very ill equipped to deal with psychological issues or offer any kind of advice.Yet when Entrepreneurs come to me, confused about why their business is NOT growing, why they are stuck, I cannot help but notice their need to talk to someone, anyone who will listen to them talk about their business. Many of these individuals have lost marriages, their families, close friends and relationships all because of their businesses. They are working 60+ hours a week to make their “dream” come true. Then they come to me, tired, miserable and alone and ask, “Why?” Why is this business not working? Why is this not fun any more? We hear so much about work life balance, about taking time for yourself and to spend time with those you love, but we rarely hear about the need to balance your “business” with your life.

Many Entrepreneurs got into business because they love with they do. Be it cooking, baking, customer service or programming, you are passionate about a cause and you want to share that talent with the world. Most entrepreneurs are good people who genuinely want to improve the world with their contributions and talents. However, this being said they will sacrifice everything around them for their business. They will ruin their health, their relationships and their Entrepreneurial spirit all for this business.Many Entrepreneurs defensively will say ” My business is my life” or that this “sacrifice” is needed in the early years. To both of these, I say phooey. The sacrifice is not needed and if your business is your life then you need to get a life. Put yourself in your customers shoes. Who do they prefer to do business with, a rested, energetic, reliable individual, or the individual that looks like htey have not had a vacation in 5 years, who is tired, grouchy and cannot balance their family and work life? Who would you do business with?

How do we balance the love of what we do with the practicality and time requirement of early start-up? How do we balance? My advice? Love what you do.Here are five ways that “loving what you do” will help you to grow your business and yourself.

1. If you love something, you set it free.

If you love what you do, you build it strong enough to survive without you. A business to be successful needs to survive without the entrepreneurs. It needs to have the straighten to stand alone and be independent from you.

2. If you love something, you nurture but don’t smother it

If you love something you nurture it, you give it what it needs but do not smother it. You give it what it needs to grow, but also the room to grow.

3. As in Relationships, you also need Alone time from your Business

As in a relationship, you cannot always be “with” the one you love. Take some time away from your business to do the things you enjoy. This will help you to relax, grow as a person, and then give back more to your business.

4. You Business May Move Away Some Day

As with our children, we have to be prepared for the fact that our business will not be with us forever. It may grow beyond our capabilities, you may need to sell, you may need to leave it for retirement or health reasons, but that business will someday leave you. How will you manage after the fact?

5. The best thing you Can do for those you love, is to take care of yourself

The best thing you can do for your business is to take care of yourself. If you take the time to nurture the other important things in your life, then your business will also grow, because your business is YOU. If you are tired, if You are cranky and cannot see the forest for the trees, guess what? So is your business, so do yourself a favour and if you really love what you do, then act like it, and please take care of yourself, those that are important to you and you will see how your business will flourish.


Hey Entrepreneurs! Have a business question that you could use an answer to? Tweet @CarmenReis and I’ll do my best to help you out 🙂


Need a Business Plan fast? Just visit our homepage and you can be downloading your Business plan in just 2 hours!

What’s in a Name?

One of the first questions we usually get asked is “What does BizMula mean”? To which I usually reply, “well what do you think it means”?
Some of the answers surprised us:

a. BizMula-Business Money-i.e. we help you get money. While I think our plans help a lot of people with getting their businesses off the ground and getting the investment they need, this most certainly was not the intent-but glad to see that there is an association.

b. BizMula-Business Donkey–interpretation- a. we do the hard work so you don’t have to. Interpretation b) So easy a donkey could do it
This one I found funny. Perhaps it is my portuguese roots-since the word “mula” is a donkey,–but this was not the intent either, although I do get the idea that we take the hard work out of writing a business plan and in fact the product is so simple that anyone is able to do their own plan.

There are other “common” interpretations of the word “Mula”. As per the great philosophy of Wikipedia….”http://en.wikipedia.org/wiki/Mula” Mula can also be
a) A Place in Spain or Malta (perhaps originating from Mula)
b) A radish in Nepal-(Biz Radish–hmmm not sure about this one)
c) A drum used in cuban music (Biz drum like dance to the beat of your own drum—i like this one)
d) A breast (Malayalam language)–we won’t go there
e) Associated with rapper Lil Wayne–nope no association whatsoever

Despite the proliferation of the word “mula”, I always thought that our name was pretty easy to figure out—(hint: look at our logo).
Our logo, for those who are unsure of what it is, is a flask/light bulb.

BisMula-is actually “business formula”–we believe that our plans are the winning business formula and that in fact, a formula for a successful business plan does exist. At its heart, that is what BizMula is–we offer entrepreneurs a formula for getting their business plan done quickly and efficiently. The light bulb component, really is to symbolize the idea of the entrepreneur. Their idea, plus our formula=WIN.
We are getting excited by the launch of the automated service. We really believe that this is a great product and we look forward to sharing it with you soon.

Article Keywords: Bizmula, Business plan software, What’s in a name?


Hey Entrepreneurs! Have a business question that you could use an answer to? Tweet @CarmenReis and I’ll do my best to help you out 🙂


Need a Business Plan fast? Just visit our homepage and you can be downloading your Business plan in just 2 hours!