News

Sunday Times, 11 December 2005
Excerpt from article in Small Business section:

Open up a new business chapter
In the season of goodwill, business book writers can help with ideas and inspiration, writes Sandra O'Connell

Those who are still beholden to employers can work out over the holidays whether they have what it takes to be an entrepreneur with the help of Yanky Fachler's book Fire in the Belly.

The Dundalk-based life coach cites research that indicates 75% of salaried employees consider taking the entrepreneurial leap at some stage. In his experience, those that take it share a number of characteristics. "Entrepreneurs have a strong independent streak," wrote Fachler. "Their need for freedom is what defines them. They can be very stubborn and they don't like being told what to do."

They are also comfortable living with uncertainty. "People who need a high level of predictability in their lives will rarely risk the uncertainty of starting their own business," wrote Fachler. "Entrepreneurs seem to thrive in an unstructured environment."

The other characteristic that defines the entrepreneur for Fachler is discipline. "One of the keys to coping with uncertainty is … self-discipline," he wrote. "Entrepreneurs need self-discipline to get up early and start working on whatever needs doing. They don't need anyone to chase them."

They are not devastated by failure either. "Entrepreneurs can live with mistakes because they see the bigger picture. If something goes wrong, they think in terms of how to avoid similar problems next time."

This is a defining trait. "In most cases they are sure there will be a next time. Entrepreneurs are incurable optimists. 'I'll get it right next time' is their motto, wrote Fachler.