I’d venture to guess that a lot of entrepreneurs ARE entrepreneurs because of a lack of finances. I was reading an article on when frugality isn’t enough by Trent Hamm, and it really clicked with me. Especially in this economy, the risks that are normally associated with being an entrepreneur are even greater than usual. But the benefits are so much larger than the risks.

To be honest, I’ve started several businesses in my short history on this earth. I was involved in one in particular that is laughable now, since I neither wear a lot of makeup nor enjoy selling things. At all. In fact, I was very squeamish about getting into the web industry. Why? Because design and coding are both things that I really enjoy doing. I was scared that I would have to start creating things that I hated just so they would sell. The “sell” word was especially detestable.

But now that I’m doing what I love to generate income for my family, those fears are all but gone. Sure, I’ve always got new things to worry about — holding our work up to professional standards even when no one is looking and it would be easier to fudge; taking marketing risks to get our services in front of a wider audience; working with family members (yep…it’s as hard as it sounds!) But there are several aspects of this venture that let me know that it will always succeed:

1. I’m doing what I love. That’s become quite a cliche, but it’s absolutely true. I am motivated every morning to get up and get to work. In fact, sometimes it’s hard to turn myself off at night because work IS what I love to do. I have to figure out something else to help me unwind!
2. I run a service-oriented business. Automatically, this gives me a unique place in the market. Why? Not because there is a lack of service businesses, surely. But because our studio has a different personality than any other studio. We are “us” and we are going to appeal to a different group of people than other studios appeal to. There’s room for everyone here.
3. We have multiple streams of income. “Multiple streams of income” is such a buzzword, but there’s a reason for that. It’s important. We have several areas of service that we offer. We work on the side for larger companies that need to outsource. We have partners and affiliates that we recommend, and they recommend us. We serve in a wide variety of areas. People will always need the work that we do, and more specifically, they will need US to do it because we do it differently than anyone else.
4. We don’t have any business debt. As a company, we are debt-free. As a family, we are working toward that. It means we have to start a little slower, yes. But we are balancing a lower risk with a higher comfort level. We’re happy with that.
5. Our family does not completely rely on the studio to survive. At any given time, one of us is out making money in more traditional ways, at least until we are at a level where we can count on our income every month. The other one works at the studio full time. In the end, it means we are both working more hours every day, but it also provides a level of security until we can no longer afford NOT to take the leap.

I’m interested to hear what makes other people know they are going to succeed in their business. Because there is really something comforting about “just knowing” that you’re not going to fail.