Starting one's own business is always an invigorating but somewhat anxiety provoking experience. You are about to leave the comfort zone of college, your home, a big corporation or even a non-profit or any other type of salaried employment. In exchange you have independence and the chance to pursue your dream. The flip side is you no longer have large resources --money, manpower, credit ,expertise, contacts, name recognition-- all you have is .... you. You also have the rent or the telephone, the travel , marketing , research , direct mail and whatever else to pay for. If you have a payroll or even someone to come in and water the plants every 2 weeks, that's your responsibility too. No wonder it's an anxiety provoking experience.

The thought that keeps most entrepreneurs motivated at those first insecure moments is the firm knowledge that great risk can reap great rewards. Studies have shown that entrepreneurs come in all shapes and sizes, all temperaments and work methods. Some are deliberate and painstakingly meticulous in drawing up their 5 year business plan. Others fly by the seat of their pants and say "Let's just do it." Some are exuberant, some quiet. Some extroverts, some introverts. Some are workaholics, some just spend enough time to delegate the work to the right people whom they've had the ability and insight to select. There is only one thing all entrepreneurs have in common and that is the ability and willingness to take risks.

So when you start your own business and begin to feel butterflies in your stomach, it helps to understand, that is part of the package. The most seasoned entrepreneur in the world still feels butterflies, just like the most seasoned opera singer or matinee idol still feels stage fright; the trick is to keep it under control. People who are most comfortable being entrepreneurs are those who have a high tolerance for the unstructured and learn to accept ambiguity . No, they don't know how the play is doing to end but they decide to enjoy whatever act they're watching. No, they don't know if they'll hit the big time and become another Microsoft, or even win the contract they're trying to land today. But they have decided to take each day as it comes, do their strategic planning, tend to the marketing, be obsessive about details, produce the best quality product or service they can, and the business will come.

Even given the fact that one plunges in ready to accept lack of structure, it's a good idea for many entrepreneurs to recreate as much as possible some of the best aspects of large corporations--patience, process and strategic planning among others--while shucking off the least productive-- stifling procedures, too much paperwork, lack of decision making authority. These are probably some of the areas you will need to work on; since each of these subjects could take an entire semester at Harvard, Stanford or Wharon Business Schools, our goal will be to outline areas which need your attention as a manager and try to point you in the right direcion for futher information.