Maybe you are sitting at your desk and doing your daily routine tasks, none of which help you to fulfill your own dreams. As a day dreamer who constantly over-thinks about running a business of your own, you are definitely hesitant whether it is the right time to start a business or not. Launching a new business can be an intimidating process requiring tons of hard work as well as being an amazing adventure.
The prospect of being your own boss or creating job opportunities for others may sound tempting, but you need to remember that it also demands a great amount of hard work and you should ensure about your qualifications to embark on a challenging journey from the scratch.
Here are a number of eye-opening signs that help to indicate the level of your readiness to move out of your comfort zone:
You have an idea
Before leaving your regular day job that provides an acceptable extent of security, it is essential to make sure that your idea is worth pursuing and investment. You cannot resist thousands of different ideas coming to your mind, but you should know that in the world of entrepreneurship, there is a popular state saying that nine out of 10 business ideas will fail. A winning idea is the one that solves a problem and there are people out there who are willing to pay for it.
You have passion
Building a business with that idea in your mind is a struggle. You should be waiting for a roller coaster of experience in every phase of the project.
Working moments maybe intense without any end. This highlights the importance of being a firm believer in your idea and pouring your heart into it continuously. Make sure that you can maintain a great extent of passion that inspires you to make your idea a reality, and the initial excitement will not fade away.
You have a resilient personality
Resilient people move towards a goal and perceive harsh times as a temporary state of affairs. They do not let waves of adversity and tough times paralyze them, instead, they are like bamboo in a hurricane that will not be broken forever. In your new startup journey, there are also moments of failure and disappointment waiting there for you, and if you are afraid to fail, you are not ready to embark on this adventure. As a capable and competent entrepreneur, you need to strengthen your inner self in order to master emotional emergencies and become adept in accepting road blocks with flexibility rather than rigidity.
You have a plan
Before you decide to jump into your new business, keep in mind that you have bills to pay, a household to support, and food to put on the table. So, before quitting your daily job and losing your current financial security, make sure that you have a definite plan. Do not just keep it in your mind, you will need to write down your ideas and requirements to make your dream happen. Set specific, measurable, attainable, realistic, and time-bounded objectives and visualize your road map.
You are enthusiastic to learn
In the process of starting a business, there are experiences that can teach you beyond your current imagination. So make sure that you are self-motivated to learn and you will not let your ego stop you from learning. You may be of the opinion that you are well-educated and equipped with a professional background, but you should have an unquenchable thirst to learn new skills and knowledge in initiating and carrying out a business launch.
You have some money saved up
It is true that some businesses need little capital to start, but regardless of the business type, starting a business almost always takes money. Besides, your business would be more likely to grow fast if you have some cash saved up which makes your mind free from counting pennies or debts. Consider that after quitting your job, you will need money for operating expenses such as taxes, rent, and payroll. By the way, you should have saved money for personal living expenses in six-to-twelve months to tide you over until the business begins generating reliable revenue.
You know enough about running a business
You may have enough experience and talent in your job that prepares you to make the jump into entrepreneurship but launching a new startup demands wearing some extra necessary hats. To create a business from scratch, you should know a lot about the business including Marketing Skills, Hiring Skills, Building a Strong Network, and Tech and Engineering skills, or as learning all of these may postpone turning your dream into reality, and procrastination is known as the most fatal startup killer, you may ask a consultant team to provide business launching services for you.
If you have a big dream that you believe you are born to fulfill, sooner or later you will have to change your current position to build the life you want. But prior to going to further steps, check the aforementioned list to make sure about the indications when it is the best time to go into your project fully.