How to know you are ready to take the leap to entrepreneurship
Did you know that every second, three start-ups are born? As COVID-19 causes layoffs and extends uncertainty about employment in 2021, many people are considering new options, reinventing themselves, or trying to decide whether working for themselves is more desirable than finding another 9-to-5 job that might not last.
Entrepreneurship is a career that offers a kind of freedom and personal satisfaction you simply cannot get from traditional 9-to-5 employment. One will never know if you have what it takes to be an entrepreneur unless you take the leap of faith and experience it yourself.
Particularly when starting your first business, you face daunting questions: Do I have what it takes? Is it worth the risk? Should I take the leap? spcfz one of the best business setup company in dubai help you
Watch out for these signs that show you are prepared to go out on your own:
- You always envision how to make ideas work, with an uncanny ability to connect the dots and see around corners.
- You are passionate about the idea, the product, service, desire to build an amazing company culture, or client experience. Passion is your fuel.
- Whatever be the setbacks, you’re always prepared to jump in and fix it. You default to leaning in and solving it. You know that being afraid to take the leap is just your brain’s natural way of trying to keep you safe. Whether it is fear of failing, fear of what other people will think, fear of the unknown or even fear of success — you know that your feelings are normal and you don’t deny your fear.
- You are constantly driven by competitiveness and the desire to become better.
- There’s nothing safe about business ownership, so true entrepreneurs must feel comfortable taking risks and making hard decisions. You must be comfortable with taking wrong decisions, learning from it and taking up the responsibility.
- You are aware of your implications and are 100% ready to accept the sacrifices that will come with starting a company.
- You actively work on levelling up your mindset. You spend time with the people already successful in your field and are trying to adapt their thinking.
- You realize that you need a support system to get it done – Whether it is your partner who is happy to take on more work around the house and provide emotional support when you need it most, a group of fellow entrepreneurs you meet regularly to share your challenges, your family that helps you with some extra money or your life and business coach who guides you through tough times — you know you can count on support.
- You are aware that revenue is not equal to profit. You know the legalities of starting and running a company. You know what you need to do to sell and market your product, hire people, build a website and develop your product.
- Once you are aware of these signs it’s important to understand that you can map out each step of your next move, organize all of your business plans and strategize every last detail, but none of this tells you when to take the leap. Here are a few things that will help you realize the time is right to make the big leap.
- Make sure you know how much money you have going in, how much money you need to make to live at a level you’re comfortable with and how that all translates to client numbers, immediately and for the future.
- Trust yourself and your gut and realize when it was time to make the shift in your life in the pursuit of what you are ready to create. Take guesswork and over-analysis out of the equation.
- Start creating your business plan. The sooner you can start putting it into motion, the better it will be to plan your future. Make the investment in yourself and your businesses and walk away from what’s no longer serving you.
You want to be your boss. And you know exactly what that means. Nobody will hold you accountable if you don’t do the necessary work — especially in the early stages when you have no clients yet. You need to be an absolute self-starter in every aspect. You need to know what to do and motivate yourself to do it.
But that’s what you love about it. Because when you have an idea spark, you can forget about time and get immersed in what you are doing. Nobody needs to motivate or tell you what to do because you have a clear vision and know intuitively what to do.