Is it time to go it alone?

8 Mar 2013

With the legal services market likely to experience more changes in the next few years than at any time in recent history, more people are considering their options.

Whether it’s an entrepreneurial streak, a case of ‘now or never’ or the personal satisfaction of creating something yourself, more people are choosing to go it alone.

Competition and deregulatory changes are forcing business leaders to explore new business models and partnerships, including taking control of their own future by starting up their own practice.

So how suited are you for the tasks facing you? What capacity do you have to carry the business through to success? What strengths have you got that you think you can rely on? And what weaknesses are you going to have to do something about?

Check yourself out with a simple analysis of what capacity, areas of skills and expertise today’s business owner needed. Twelve aspects of personal capacity in four broad management areas are given for you to think about. Just looking at them will raise your self-awareness of what being an entrepreneur demands from you.

Think of how strong or weak you feel in relation to each aspect – how ready are you for this or are you going to have to learn and ‘up your game’? If it helps you to reflect and come to conclusions, score yourself on a strength to weakness four point scale, where 1 is strong and 4 is weak and there is no middle point (where you can ‘sit on the fence’)!

AREA (1) INTERPERSONAL ROLES – how well will you relate to others and communicate your ideas?

  • As a leader – figurehead: to be recognised as the owner-driver of your business?
  • Negotiator: getting the best deals for you and your business?
  • Manager – supervisor: getting the best from others who support you?

AREA (2) INFORMATIONAL ROLES – how well will you help others to contribute to your success?

  • Promoter – disseminator: sharing your vision, ideas and business practice?
  • Representative – spokesperson: putting your business on the map?
  • Networker – liaison: building business relationships in the marketplace?

AREA (3) DECISIONAL ROLES – how well can you control the life of your business?

  • Entrepreneur – initiator: starting up and driving the business forward?
  • Crisis manager – disturbance handler: solving problems, when things don’t go to plan?
  • Resource allocator – time manager: managing yourself and the business?

AREA (4) WORK MANAGEMENT ROLES – how well can you ensure business success?

  • Evaluator – reflector – learner – planner: directing the development and growth of yourself and the business?
  • Monitor – Maintainer: enabling the business to be on track, day-to-day?
  • Completer – finisher: seeing things through to the end in every part of the business?

No one is good at everything but if they know themselves and have a desire, anyone can learn to be successful!