HOW DO YOU DECIDE THE RIGHT TIME TO START A BUSINESS?

Do you feel dissatisfaction working for someone else and not being able to do what you strongly feel is necessary for your own personal success? If you feel dissatisfaction with being an employee, it doesn’t necessarily mean you are ready to tackle entrepreneurship. Starting your own business requires commitment and a leap of faith. You need to honestly analyze your situation at the moment before you make the decision. If you find out that you are not ready now that does not mean you give up. You can start preparing yourself to start your own business in the future.

To find out if you are ready to take the challenge of starting a business, answer these four questions honestly. You should do this before you make the decision to start your own business.

1. Do you have a burning desire to have your own business knowing the effort and sacrifice needed to succeed?

To succeed in your own business will need far more effort than the one you are putting in your job right now. You need to be ready to step up your efforts. It might mean longer working hours initially and more decisions to be made but if you are ready it will be worth it in the long run

2. Do you feel passionate about the product or service you have to offer?

In order to survive the tough times, it is necessary for you to have passion for your business. If you feel that what you are doing is important and useful you are more likely to survive the storms in the long run. Believe in your business totally to achieve success.

3. How good am I at making decisions and taking on many different responsibilities?

As a business owner, you will be responsible for making all the crucial decisions that might determine the survival of your business. If you feel that you have shortcomings in this area, you can ask for advice and consult other people but you have to make the final decision.

4. Finally, do I have the stamina and the desire to put in all the hours needed and not suffer from burnout?

Running a business can be pretty demanding. Make sure that you have the right frame of mind to undertake the challenge. To help you in this, you can visualize the positive result that will come out of your efforts. Focus on the rewards to get the stamina needed to do the work. This is what marathoners and other runners do to get over the fatigue. It works.

These questions must be answered to yourself before you make a decision to commit.