By Cnn ce Te Enter the entrepreneur | + Individuals find security in entrepreneurial spirit OUR WORLD is changing and to cope with it we must become more entrepreneurial. By lan Noble News Fleporter That's the opinion of North Shore columnist, lawyer and entre- preneurship lecturer Michelle Gahagan. She notes that in today’s com- petitive, downsizing, privatizing times, it’s not just entrepreneurs who need to become “personai profit centres.” “The more people embrace that notion, the more secure they will be,” said Gahagan, whose client base is owner-operated businesses. Everyone has to ask themselves four basic questions: whether they have a skill-set that’s in demand, what their clients want, how to make money, and how they can contribute to an organization, whether they are a part of that orga- nization or not. No longer should people expect to work at the same company for 40 years, Gahagan said, echoing a sen- timent held by many young workers today. Using herself as an example, the tax lawyer relates that she. did not feel any more secure working at a large downtown firm in the late ‘80s. She left the firm in 1990, she explained, because she chaffed under senior lawyers who con-. | trolled how the business was run and the practice was managed. Gahagan wanted more control. Nov, as a Sole practitioner, she has it. But she was also willing to take on the increased responsibility — and risk — that goes along with striking out on her own. “If you can come to understand personal profit centre, then you don't have to be afraid of the slings and arrows of change,” she said. Ironically, her work building up her practice has taken place while many big law firms suffered set- backs because of extravagant over- head and a failure to meet client needs, said Gahagan, 37. She added there are two types of entrepreneurs — those who are born to it and those that are “cir- cumstantial entrepreneurs,” pressed into it for reasons such as downsiz- ing. The first group is usually more successful, but those in the second group who persevere will also be successful, Gahagan contends. Entrepreneurs must be self- motivated, independent, possess confidence in their decisions, and be willing to tolerate and embrace risk. Gahagan added they must clear- ly define their goals. Most people make business plans, she said, but forget to ask what they want per- sonally from the business. For example, people who want to be home for dinner don’t want to “EXCEPTIONAL RRSP INVESTMENT 21.3% RETURN AVERAGE ANNUAL YIELD LAST 2 YEARS ; REGAL PACIFIC MORTGAGE 4 CORP. 731-2899 This is not an offering tus sete which may only be made by etfvting memorandum: open a store in a mall that stays open until 10 p.m. Gahagaty notes. If peopte don’t ask such questions, the business “becomes the tail wagging the dog.” Gahagan points to Vancouver-based Please Mum presi- dent) and = owner Kathryn Adrian as the model of a suc- cessful entrepreneur. Adrian, who is a client of Gahagan, started with per- ilously little capitalization in 1986. But through perseverance and dedi- TAX LAWYER Michelle Gahagan says we must think like entrepreneurs. cation has created an empire of 42 stores and done it her way. “She’s just straight up,” said Gahagan. “She's just done it the way she wants it to be done and her busi- ness has been incredibly success- ful as a result.” Corporate and tax lawyer Michelle Gahagan will be speaking at the North Shore News — Financial Forum on Saturday, Feb. 10 at the Capilano College Sportsplex starting at 10:30 am, Tickets are available through the North Shore News (985-2131). BALDWIN. COM PANY Law Office * Private tutoring, office and group instruction * Internet set-up and training © Help with hundreds of Macintosh applications ® System set-up, troubleshooting and networking © Scanner, CD-ROM and modem experts © Printer problems zre no problem! ° Custam database systems * Custom invoicing, estimating and bar code programs le AUTHORIZED + VALUE ADDED RESELLER Appl * We supply and install Macintosh memory upgrades * Offering the best hourly rates available in Vancouver meeting or beating the competition. If we can’t solve your problem, we won't charge you! * Nearly every client we have assisted has become a repeat client * Call us if your Mac is driving you crazy! Mountain fi dge Dataworks _ Fel: 983- ny Fax: 983-9417 Do List RRSP To- Q Prepare tax forms Q Hire accountant Q Financial plan? C) Invest retirement savings strategically OC) Revise & review budget Hire Financial Planner More than 100,000 discerning famil being to over 300 Fortune Financial commitment to you is unwavering. James C. Perkins ies entrust their financial well | Professional Advisors, whose FORTUNE FINANCIAL Vice President - Financial Advisor CALL NOW for vour comple guide to financial success 681-1300 NC FAMILY PACK Top Sirloin Steaks OUR COMPLIMENT Maximum Raisin Bran OUR COMPLIMENTS. Crispy Rice Cereal PHONE IN SERVICE Now Available at IGA Plus Check stores for details i