Starting a business is a life-changing decision. It’s a crazy ride that has a very unique adrenaline rush. While many aspire to quit their 9 to 5 jobs and start their own business, only a few really ever take the plunge.
We want everyone to be successful in their business, but the hard fact is, that it’s not everyone’s cup of tea. Some entrepreneurs give up because they lose their drive and some because of the immense pressure in dealing with a business.
How to know if Entrepreneurship is right for you? Answer these 4 questions and find your answer.
What is your motivation?
There is a misconception about starting your own business: you’ll start your business and get rich. There is some truth to it, but if your goal is to just get rich then you’re headed for failure. Your motivation has to go beyond money and time. You have to be really passionate about the product/service that you’re selling and the customers that you’re serving. If your motivations are right then you will have enough energy to sustain the time it takes to become successful.
Are you open to learning?
Starting your own business means you’re going to be exposed to a lot of tasks that you may not be familiar with. It could be managing a team, networking, managing finances etc. Your ability to quickly master new skills will keep you abreast with changing trends and help you overcome roadblocks. Reading books about other business owners will also help you learn from their mistakes and keep you well prepared for similar challenges of your own.
Are you ready to accept failures?
There are no blueprints to create a successful business. Most successful entrepreneurs have learned as they built a business. Some of their learnings came from failures. Not every decision is going to work as planned and this can be a huge detractor in achieving your goal. While many give up at such junctions, a true entrepreneur will learn from the mistakes and move on. This ability to accept and overcome failures will ensure a smoother sail in the turbulent ocean of entrepreneurship.
Do you have the right attitude?
A business not only demands a lot of hard work but also the right attitude. An entrepreneur must be passionate, brave, flexible, trustworthy and have strong ethics to survive the business world. To develop the right set of attitudes it’s best to work with mentors who have already been successful in their entrepreneurial journey. Their experience and knowledge can greatly improve your perspective to handle a business.
If you have a resounding yes to all of the above questions, you’re definitely ready to take the plunge and start your business. We’ve previously written a comprehensive guide on how to start a business in India which will come handy for your next steps.
Have any questions? Feel free to drop a comment below.
