-By the SIYP Team
More or more people are deciding to start their own business these days. They want freedom. They want flexibility. They want responsibility for their own professional destiny.
Yes, you can look around and see it happening – the rise of the entrepreneur. Yet, is entrepreneurism always the right choice for everyone?
There are so many variables as to whether or not going out on your own and becoming an entrepreneur is right for you. The list could really go on and on….
However, there are three main considerations everyone should reflect on before even getting to the bigger questions:
Do you believe – really believe – you can succeed?
The rise of the entrepreneur – and the appeal of entrepreneurism – is not really new. What’s changed is simply the sheer volume of people heeding this internal call.
The risk of failure is still great with any new startup business. Therefore, before you leave your current job to set out on your own, you need to really dig deep to make sure this life is for you.
Entrepreneurism is not easy in many ways. However, perhaps the most difficult thing in the beginning, is seeing others around you fail and people you care about and respect, expressing fear or concern you might too.
And they will. Not to be negative per se, and not to doubt you or your abilities. Some, specifically those who are not entrepreneurs and who don’t have that same entrepreneurial spirit or hunger, are likely to be truly speaking out in your best interest. They see the realities and they run the calculations mentally in their head. They are worried about you and they don’t want to see you hurt or fail. So, inadvertently or subconsciously, they test you and your resolve with their constant questions and “what if’s”.
If you do not believe in yourself, your ideas, and your business proposition wholeheartedly, right this very minute and no matter what, this may not be the best time to pursue your dream. If even those well-meaning people in your life who are worried about you taking this leap can make you question your plans, what will you do about the haters or your competition who will flat-out try to convince you that your business is doomed from the very beginning?
Starting with even the slightest worry that you won’t be able to find customers, produce a stellar product or service, or succeed in general, puts you behind the 8-ball and in the danger zone. That is not to say if you have any doubt at all, you will surely fail. But rather, it starts to stack the odds against you. Of course, it may just mean you need to do some more planning and analysis before diving in wholeheartedly.
Do you have leadership skills?
Have you ever considered, “What does it mean to be a leader?” Even if you don’t plan to have other employees at first, you will still need leadership skills to be an entrepreneur.
All businesses must have a persona – a culture – and it is the leader and their leadership style that sets those things in place. Whether there are others you are leading – or if it is just your business you are leading and no other persons – you must be able to lead effectively.
As is the case with your belief systems, if you don’t currently have strong leadership skills, that does not mean you cannot succeed or that you shouldn’t start your business. It is just something to consider. And of course, there are plenty of books, websites, and courses out there to help you improve leadership skills if you know you need to do so and are willing.
Are you organized – is your life organized enough for you to be able to run your own business?
Being an entrepreneur is almost a 24/7 gig at first. Especially if you are going to start out on your own, there is no one calling the shots and telling you what to do and when, but you. You really must be organized. If you are not organized now, before you set out on your own, you need to get organized. This includes organizing your life.
If you are busy with meetings or a proposal, how will the kids get where they need to go? What if you have to work overtime on a pitch or with a client? Who will cook dinner?
Consider these things well in advance and decide if you are ready now, have the ability within yourself to get organized on your own, or whether you need help with your organization skills – including how to organize your business and organize your life, too!
Again, none of these are hard and fast “rules” that will or won’t determine your success as an entrepreneur. The point is to use them as a guideline for whether you are ready now to hang your shingle or whether or not you need additional help and preparation to get ready so that you give yourself the very best chance of success.