We love to craft our own ideas in order to build a niche, and that requires making some hard decisions. Starting a business is more than projecting numbers and looking at profits. It could even be leaving your current job. We may often crib about our boring work and horrible bosses. But are we enough driven to do something new out of boredom or passion?
If you’re confused and curious, consider these 10 important points to definitely add substance to your contemplation. Things to ponder over while quitting the job to start the business.
1. Are you ready for the bumpy ride?
Leaving behind the corporate league with one foot in the entrepreneurial journey is certainly a risky encounter. Are you actually ready to face the roller coaster ride of this new life? Business is being on your own with nothing to fall back on.
2. Are You ready to take on multiple roles?
You’re soon going to be a boss, and that means wearing multiple hats. You will have to carry our several functions with or without resources at the disposal. This is until you start making those leaping gains. The experience of self-employment can prove to be more challenging than that of being an employee.
3. Are you willing to burn bridges for a better tomorrow
Don’t resign abruptly from your current job. What if your employer could help launch you? You need to pull off a few stunts heroically. A new venture requires a breakthrough idea, support and effective execution. Are you ready to stake it all?
4. Are you ready to brush up on your skills frequently
The market dynamics in the current scenario change within a fraction of a second, calling for changing your strategy as and when. How comfortable would you be to rework on your own products, ideas and services, so they level with the brilliance prevailing in the market?
5. Are you ready for a new routine?
A business from scratch is going to take away most of your time, keeping you away from your family, friends and barricading your social life. You will have to evaluate and measure up the odds of risking your personal life to a certain extent in order to make it work.
6. Do you have enough resources for your new venture?
Having an idea is never enough. You are going to need efficient planning, implementation and adequate resources to run the show. Ask yourself the kind of resources that you have to push your venture ahead.
7. Are you ready for the gruelling sessions
Get ready for the grill. From selling the product, monitor accounting and even advertising!
8. Are you open to constructive and destructive criticism
As an entrepreneur, you’ll need to be assertive and accept other’s opinion about your work and products. Are you willing to take in the destructive criticism with grace?
9. Can you ignore euphemistic people or opponents?
Your success may bite your opponents hard. If people provide you with devastating information or hinder your vision, work and career, can you bypass them? Can you actually not give a damn?
10. Do you want this MORE than anything?
If this is what gives a kick, then you must invest in your venture and importantly, your future too. Ask yourself if you’re willing to let go of the fancy frenzy of the corporate, and live a more rigorous but fulfilling life.
Are you sure about removing the corporate badge and entering the entrepreneurial space? If you’re not still, then reconsider your options again.
- The Startup Playbook: Founder-to-Founder Advice From Two Startup Veterans
- Smart Startup: The Fine Art of Being the Dumbest One in the Room
- STARTUP CULTURE MINDSET: A Primer to Building an Amazing Culture and Tribe
- Lean Startup: An Innovative Plan to Launch a Successful Business
- Next For Me: A Guide to Startups for Dreamers