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The Era of the Unintentional Entrepreneur: An Interview with Kevin Reeth of Outright.com (Part 1)

The Era of the Unintentional Entrepreneur: An Interview with Kevin Reeth of Outright.com (Part 1)

The Era of the Unintentional Entrepreneur

    With a background including successful stints with Yahoo, eGroups, and Intuit, Kevin Reeth was well-prepared to strike out on his own as a co-founder and CEO of the web start-up Outright.com, a free online bookkeeping platform for small businesses and self-employed persons. In today’s economic climate, though, more and more people are finding themselves thrown into entrepreneurship without a background like Reeth’s as their companies fold or downsize leaving them to strike out on their own.

    To help these “unintentional entrepreneurs” get their feet under them, Reeth partnered with Network Solutions to form Unintentional Entrepreneur, a website and organization dedicated to helping newly self-employed workers get off on the right foot as freelancers, consultants, and small business owners. So far, Unintentional Entrepreneur has hosted free seminars in a handful of cities, with more on the way, combining formal presentations with social networking in an effort to provide the information and social environment fledgling entrepreneurs need to start building towards success.

    After I wrote about Outright.com at Freelance Switch and on my own site, The Writer’s Technology Companion, several people at Outright.com contacted me and struck up a conversation, culminating in an offer to interview Reeth about Unintentional Entrepreneur and the challenges – and rewards – facing today’s entrepreneurs, unintentional or otherwise.

    This is part 1 of a three-part series. In this section, Reeth and I discuss entrepreneurship in general. In part 2, we’ll discuss the way that technology is changing the entrepreneurial landscape, and in part 3 what Unintentional Entrepreneur is doing to help first-time self-employed workers. The interview was conducted on July 17, just after their first event in Los Angeles.

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      Dustin Wax (DW): Let’s start with a general question: What is an unintentional entrepreneur?

      Kevin Reeth
        Kevin Reeth (KR):

        An awful lot of our customers are folks who were working in corporate America and had had paying jobs for years and had lost their job last fall or early this year, had been looking for a job, and had gotten to the point where they had to figure out something to do. And now they’re starting to hang out their own shingle to see if they can earn a living that way.

        What’s interesting is, compare them to people who’ve been small business owners or self-employed for many years, who had gotten used to it. People leaving the confines of a corporate job quickly get a pretty significant wake-up call in terms of what it means to work for yourself.

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        DW: So you have the wave of people for whom entrepreneurship has become an only option, something that came onto their radar as an option not because of an internal drive to do it but because of the economy.

        KR: Yes, I think that’s exactly right. This may not have been something that they thought about, maybe they never did have that drive, maybe they weren’t maybe wired that way or maybe they’re more risk-averse. But now they have certain practical realities that are forcing them to consider new options, and entrepreneurship is one of the options they’re considering. And so, they may have never done this before and may not understand what it means to operate as a business right now.

        DW: What does it mean?

        KR: The first focus, honestly, needs to be sales. If you don’t have people paying you, nothing else matters. You’re not going to be a very successful business for long.

        Along with that, when you first get started, it’s all about networking. Your initial business is going to come through referrals, friends and family, and coworkers and associates. It’s not going to be through advertising and promotions, and not from fancy marketing stuff. By getting out there and getting connected to people, you will have opportunities present themselves.

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        And then where we tend to focus, where Outright focuses is on helping people understand that they need to prioritize their time, that time is going to be their most precious commodity. There’s a lot of stuff you can do dirt cheap or free, but one of the worst things you can do is get bogged down in the details of stuff that really doesn’t matter. Use technology where it can be most effective. Automate the stuff that doesn’t provide value, and doesn’t grow your business. Honestly, the back office stuff, the bookkeeping – we know it’s not sexy. This is not what you want to be spending your time doing. Use the technology available to automate that, so you can be out there, doing sales, servicing existing customers, getting more repeat business, not worrying about where the money is going, whether something is deductable or not, remembering to pay taxes on time.

        DW: You said that the first focus is sales. There’s a skill set involved in sales, though, that very few people have. If you’re an engineering person or computer scientist or whatever, how can you develop or sharpen those sales skills?

        KR: I think that’s actually more daunting than it has to be. People tend to think about it as, “OK, I have to go do sales, I have to sell myself.” And the secret with networking is that, if you go out there and just meet other people, you understand that all of us are in the same boat at the end of the day, all of us need help. It’s all just building relationships.Even at the big enterprise sales level, so much of sales comes down to whether people like each other, whether they get along, and whether they have a relationship. There is a bias in decision-making around purchases that goes beyond just the rational facts. So you don’t have to be the greatest salesperson in the world, you just need to be able to build relationships with people.

        DW: We’ve talked about the challenges facing new entrepreneurs, but what are some of the benefits of being an entrepreneur, especially in today’s economy?

        KR: One, I think it will become one of the most empowering experiences you can ever have. It’s one of those things where it is a personal journey for anybody who tries it. A lot of things are going to go wrong. You’re going to fail at a lot of things. But you’re going to learn an awful lot about yourself. You’re going to find out what you’re capable of, and that’s invaluable.

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        Another great thing is that you will extend your network dramatically. You are going to get to meet so many new and interesting people that no matter what the future holds, you’re going to build relationships that are going to last.

        And there’s the education component. You’re going to be forced to learn more in the first three months working for yourself than in years working for someone else. And at the end of it, you will have that knowledge, you will have that experience. It’s going to make you better not only working for yourself but if you ever go back and work for someone else, you’re going to be significantly better at it.

        These are not easy things, they’re not free, awesome things that just happen to you, you have to work for them. But the value you get out of that journey is immense.

        In Part 2 of this series, we’ll discuss some of the ways technology is changing today’s small business and self-employment landscape, and the tools that Reeth recommends for new entrepreneurs. See you then!

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        Last Updated on November 12, 2020

        5 Reasons Why Being a Perfectionist May Not Be So Perfect

        5 Reasons Why Being a Perfectionist May Not Be So Perfect

        As a perfectionist, do you spend a lot of time “perfecting” your work so that everything comes out the way you want it to?

        I believe many of us are perfectionists in our own right. We set high bars for ourselves and put our best foot forward to achieve them. We dedicate copious amounts of attention and time to our work to maintain our high personal standards. Our passion for excellence drives us to run the extra mile, never stopping, never relenting.

        Dedication towards perfection undoubtedly helps us to achieve great results. Yet, there is a hidden flip side to being perfectionists that we may not be aware of. Sure, being a perfectionist and having a keen eye for details help us improve and reach our goals. 

        However, as ironic as it might sound, a high level of perfectionism prevents us from being our best as we begin to set unrealistic standards and let the fear of failure hold us back.

        Below, we’ll go over some of the reasons why being a perfectionist may not be so perfect and how it can inhibit you from being the best version of yourself.

        Why Perfectionism Isn’t So Perfect?

        1. Less Efficiency

        As a perfectionist, even when you are done with a task, you linger to find new things to improve on. This lingering process starts off as 10 minutes, then extends to 30 minutes, then to an hour, and more. We spend way more time on a task than is actually required.

        In order to be truly efficient, we need to strike a balance between the best we could possibly do and the level of “good” a specific project requires. No one will expect perfection from you because it will ultimately be impossible to attain. Do the best you can in a reasonable time frame, and allow yourself to put it into the world.

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        2. Less Effectiveness

        We do little things because they seem like a “good addition” without consciously thinking about whether they’re really necessary. Sometimes, not only do the additions add no value, but they might even ruin things.

        For example, over-cluttering a presentation with unneeded details can make it confusing for listeners. Jam-packing a blog layout with too many add-ons can make it less user friendly. Sometimes, consistency is key, and if you continuously change things, this will become much more difficult.

        3. More Procrastination

        Our desire to “perfect” everything makes us overcomplicate a project. What’s actually a simple task may get blown out of proportion to the extent that it becomes subconsciously intimidating. This makes us procrastinate on it, waiting for the ever “perfect” moment before we get to it. This “perfect” moment never strikes until it is too late.

        Instead of overthinking it, set small objectives if you have a big project ahead of you. This will help you tackle it step-by-step and complete it before the deadline.

        If you need help tackling procrastination, check out this article.

        4. Missing the Bigger Picture

        As a perfectionist, you get so hung up on details that you forget about the bigger picture and the end vision. It’s not uncommon to see better jobs done in pruning the trees than growing the forest.

        Take a step back and remind yourself of your end goal. Try setting a timeline to help yourself stick to the work that needs to be done without ruminating on things that could be improved.

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        5. Stressing Over Unfounded Problems

        We anticipate problems before they crop up, and come up with solutions to address these problems. It becomes an obsession to pre-empt problems. As it turns out, most of these problems either never surface or don’t matter that much.

        When Perfectionism Becomes a Problem

        The problem isn’t perfectionism specifically. Perfectionism helps us to continuously strive for excellence and become better, so it can really be a good thing.The problem is when setting high standards turns into an obsession, so much so that the perfectionist becomes neurotic over gaining “perfection” and refuses to accept anything less than perfect. In the process, s/he misses the whole point altogether and does damage to their mental health. Such perfectionists can be known as “maladaptive perfectionists.”[1] Maladaptive perfectionists spend so much time setting high expectations and striving for perfection that they increase levels of depression and anxiety. 

        Diagram showing how a healthy perfectionist and a maladaptive perfectionist respond to failure.

          The answer isn’t to stop being a perfectionist or high achiever. It’s to be conscious of our perfectionist tendencies and manage them accordingly. We want to be healthy perfectionists who are truly achieving personal excellence, not maladaptive perfectionists who are sabotaging our own personal growth efforts[2].

          How to Be a Healthy Perfectionist

          1. Draw a Line

          We have the 80/20 rule, where 80% of output can be achieved in 20% of time spent. We can spend all our time getting the 100% in, or we can draw the line where we get majority of the output, and start on a new project.

          Obsessing over details is draining and tedious, and it doesn’t help us accomplish much. I used to review a blog post 3-4 times before I published. All the reviewing only amounted to subtle changes in phrasing and the occasional typos. It was extremely ineffective, so now I scan it once or twice and publish it.

          2. Be Conscious of Trade-offs

          When we spend time and energy on something, we deny ourselves the opportunity to spend the same time and energy on something else. There are tons of things we can do, and we need to be aware of the trade-offs involved, so we can better draw a line.

          For example, if some unimportant blog admin work takes an hour, that’s an hour I could spend on content creation or blog promotion. Being conscious of this helps me make a better choice on how to spend my time.

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          3. Get a View of the Big Picture

          What is the end objective? What is the desired output? Is what you are doing leading you to the overall vision?

          As a perfectionist, to make sure my attention is set on the end point, I have a monthly and weekly goal sheet my blog that keeps me on track. Every day, I refer to it to make sure what I’m doing contributes to the weekly goals, and ultimately the monthly goals to keep me on track.

          4. Focus on Big Rocks

          Big rocks are the important, high impact activities. Ask yourself if what you are doing makes any real impact. If not, stop working on it.

          If it’s a small yes, deprioritize, delegate it to someone else, or get it done quickly. Seek out high impact tasks and spend time on them instead. Knowing the big picture helps you know the big rocks that contribute to the end goal.

          5. Set a Time Limit

          Parkinson’s Law

          tells us work will take however long we want it to take. If you give yourself 4 hours, you will finish it in 4 hours. If you give yourself 3 hours, you will finish within 3 hours. If you don’t give yourself any time limit, you will take forever to do it.

          Set the time limit and finish the task by then. There can be a million things you can do to improve it, but you have to draw the line somewhere.

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          6. Be Okay With Mistakes

          Part of the reason why a perfectionist obsesses over their work is because they want it to be mistake-free. However, trying to achieve 100% perfection is highly ineffective. If we’re busy perfecting this thing, we can’t get to other important things.

          Realize that making mistakes is a trade off we have to embrace. The more we open ourselves to making mistakes, the faster we can get down to learning from them, and the quicker we can grow.

          7. Realize Concerns Usually Amount to Nothing

          It’s good to plan and prepare, but there comes a time when we should let things roll and deal with problems as they crop up. Being overly preemptive makes us live in an imaginary future versus in the present.

          This doesn’t mean you don’t care. What it means that most of the things that do crop up can always be controlled on the spot, without worrying about them beforehand.

          8. Take Breaks

          If your productivity is waning, take a break. Resting and coming back to the same thing later on gives you a renewed perspective and fresh focus.

          The Bottom Line

          Perfectionism doesn’t have to be the enemy. If you’re a perfectionist, you can use it to help you be better at what you love to do. However, there’s a time and a place for it, and it’s important to learn strategies to start overcoming perfectionism when it becomes an obsession.

          Instead of doing work perfectly, do your best and move on. This will help you go farther, faster.

          More on Being Your Best

          Featured photo credit: Elsa T. via unsplash.com

          Reference

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