Dreaming of something more than just working your 9 to 5 job? I get it. The idea of starting a new business is exciting and the thought of taking your idea and turning it into something real lights a fire under you – pushing you towards entrepreneurship. But before you get too caught up in the dream I want you to start to think about these questions below:
- What is your main driving motivator for starting your own business?
- Is it creativity, flexibility, independence, income? What is it that makes you want to work for yourself. Because at the end of the day if you are not passionate about what you are doing there’s no point in going through the entrepreneurship journey
- Do you have special skills in a particular industry?
- Are people always complimenting you on a special skill?
- How good are you at decision-making, organization, and planning?
- Do you like to sell and network?
- Are you able to motivate yourself to start working?
- Do you have enough self-discipline to be at home and still work on tasks at hand?
- Are you willing to take risks?
- Do you have your finances in order and at least six months savings for personal expenses?
- If you have a partner, have you discussed your business idea with him/her? Basic relationship rule – talk with your significant other before making any big personal changes – like a new a business venture. Most just want to jump in and get so wrapped up in the business they forget about the other person and their needs/concerns.
- Are you OK with sometimes staying in your PJs until noon or sometimes staying in them all day? Some days you’re either in the zone working hard or you just need a day to yourself because you’ve been working so hard.
- Are you ready to read (a lot), take notes, and organize the crap out of all the information you soak up?
- Do you have your finances in order?
- Do you have a plan for making money from your business idea? I can’t stress this enough. It takes a lot of work to get a business up and running which means it also costs a lot. Even if you think you can get away with bare basics (this looks different for everyone) chances are you will still run into unforeseen costs so make sure you plan ahead as much as possible.
- Are you prepared for unwanted outcomes? These are things that will come up that you did not plan for and you cannot look at as failures – EVER – given your original plan didn’t pan out.
These are just a few basic questions you want to ask yourself to see if entrepreneurship is right for you.
ACTION STEP: In the comments below, share with me and everyone else reading this, questions you might have around entrepreneurship. For those already running a business share with us what questions you wish you would have thought of when starting out.