Signs You’re Ready to Start Your Own Business
By Jenn Clark
Starting a new business can be very fulfilling, but the challenges can be equally scary. In fact, fearing the lack of financial security is the number one reason why people do not take the plunge, according to gybe.com.
It’s important not to let fear get in the way of your dreams, but you also need to make sure you are ready to take the leap to self-employment.
How do you know if you’re ready to start your own business?
- Your dream job is not one to which you can apply. If you know that even as you work your way up the corporate ladder you will not be granted what it is you are searching for from your career, you may be an entrepreneur waiting to emerge.
- You’re a self-starter. A business won’t start itself, so if you are the type that likes to make things happen, this could be a perfect fit for you.
- You know what it takes. One of the mistakes we’ve noticed people make when beginning a business on their own is that they did not realize the pressure that comes with it. You will have to put in more than your best effort and constantly re-educate yourself to better your new business. If you are prepared for this, you are well on your way to getting started.
- You have a passion. We believe you should go into business with a passion. Which is why we choose to work with clients who are passionate about what they do. We’ve noticed that those who are dedicated to their product, not the money, make the best business owners. When you genuinely enjoy the work you do, internal motivation will come naturally, and that is important for your self-employment journey.
- It’s all you can think about. You know you’re ready to start when you can’t stop thinking and daydreaming about the possibility of your new business.
- You’ve done your research. Entrepreneurs need to research the behind-the-scenes of the business world. At a minimum, you should research taxes (including tax incentives), record-keeping, costs, market research, whether to file as a Limited Liability Company (LLC), Incorporation, or Sole Proprietorship before launching.
- The thought of being your own boss excites you. While this is a small part of knowing you are ready, it is still an important aspect in knowing whether or not it is time to leave the rat race for your own gig.
- You possess a strong work ethic. You put in the hours for your current employer and know you could do the same for yourself and soar even higher.
While carrying the pressures of being a business owner is not for everyone, there are those who have it in their blood. As long as you are starting for the right reasons, we encourage you to follow your business dreams as we continue to follow ours. And we are here to help you make that happen.
Are you an entrepreneur?
What would you add to the list?
