Hi! I’m Farzana Spiro. I’m employed at a large Canadian company, and I am an entrepreneur.
I’m an employed entrepreneur, and yes, it’s definitely a thing.
Reading this, you’ve likely got a few questions running through your mind; don’t worry, I’ll likely get to them all. But first, let me start with the stats.
Employed Entrepreneurs, also called intrapreneurs, play a significant role in both the Canadian economy and as well play a key strategic advantage to the companies they work for. A report by the Global Entrepreneurship Monitor (GEM) says 14% of Canada’s population have entrepreneurial aspirations.
Canada benefits significantly from entrepreneurship. Small businesses account for the employment of 5.7 million people in Canada (46.8% of the total private labor force) (ised-isde.canada.ca). Entrepreneurs drive innovation and economic growth and introduce new products and services to Canadians, offering more choice and expanding competition. Additionally, small business owners often reinvest into their own communities, supporting local economies and employing fellow Canadians, providing key employment opportunities (cpacanada.ca).
To a company, an employed entrepreneur is invaluable. Employees with side hustles are proven creatives; they are experts in idea creation and execute with excellence on all fronts. Employed Entrepreneurs have no choice but to have time management skills far above secular employees given they usually have multiple initiatives (both at work and at home) being driven at once. We are a unique type of person; we can make razor-sharp decisions just in time and know how to lead, influence decisions, and execute on strategies flawlessly.
Unfortunately, the number of entrepreneurs entering the Canadian market is declining; today 1 in every 1000 people start a new venture, compared to 4 in every 1000 twenty years ago. This is due to a number of reasons, including Canada’s aging population and the challenges small business owners face, including (but not limited to) expensive technology that is hard to acquire and competition from large companies who can afford to discount and scale operations with ease.
It’s very likely that if you are reading this post, you have considered starting a business or have had a kernel of an idea you wanted to explore further. And I can bet I know what got in the way - time. Finding the time to sit down, research, plan and develop a solid business roadmap can seem daunting when you’ve got a 9-5 job, maybe a couple of kids with soccer or dance, and a really great Netflix series you’ve been meaning to start.
What made me different? Nothing. I promise. Absolutely nothing. I did one thing that helped me stay focused. I set mini, achievable, realistic goals when I started out researching my business venture. There were nights when I spent 5 minutes on my business because that was all the time I could afford, but I still made sure to feel good about my work and celebrate that I had accomplished something, small as it was. Other nights I managed to work many hours. Ebbs and flows are good, and life happens, so let it.
