Is Entrepreneurship The Right Path for You?

Many people desire entrepreneurship simple because of the several successful examples of entrepreneurs today. However, ampoule entrepreneurship is not for everyone. Unless you have the zeal to stay focused through the rough patches and maintains interest even after your initial enthusiasm fades, entrepreneurship is not right for you.

Starting a business is like having a baby. You need to prepare financially and emotionally for its beginning and you have commit to its needs until, it becomes mature enough to survive on its own.  No matter how big the business becomes, it will always need your input in some capacity to service. The following are some of the questions to ask yourself before quitting your day job and jumping into entrepreneurship.

Are you passionate about the product or service?

The start up phase of a business is the most stressful part of entrepreneurship. This is why you should ask yourself if you are passionate about the product or service, to be able to convince others to feel the same way about it. The challenges of business start up can make you question whether or not you made the right decision. During business start-ups, the profits are usually lean while the hours are long. Starting up, you are everything for your business, the salesperson, the owner, the financial officer and the human resource manager as well. You need to have a high level of enthusiasm for the product or service to take on these roles and propel your business to success. Without passion, you will fast lose interest with the rough patches that come up during start up.

Are you are risk taker

There is no doubt about it, all entrepreneurs are risk takers. Starting a business is not for the fainthearted and you need to have a high tolerance of risk. Entrepreneurship is like jumping off a cliff and hoping you will fly on the way down. Whether it is quitting your job or leasing a workspace, nothing is without risk in business. Even when you are extremely passionate about the product or service, you may find yourself in the wrong location. Problems with state zonings or problems in the supply chain can make it extremely difficult to keep the business going. Entrepreneurship is not the right choice for you if you are afraid of taking risks, because there is no guarantee of success when you start a business.

Are you a good decision maker?

Being indecisive is one of the worst characteristics to have as an entrepreneur. No one else can make decisions for you when you start down the path of entrepreneurship. You need to be good at making the right choices to succeed in the world of business. You are constantly called upon to make choices when it comes to entrepreneurship. You need to decide whether to work from home or rent a space, whether to hire employees, the kind of clients to pursue, whether to borrow money and how to advertise. The decision making process does not get any easier with time, eventually; you will have clients and employees who depend on you to make good decisions.

Are you ready to take on the responsibilities?

During business start up, you are the sole face of your product or service, the business manager, sales person and even at times production engineer. As a corporate employee, you probably have one special skill or role. On the other hand, as a business owner, you contribute everything to your business and these are a lot of responsibilities. You need to be extremely versatile and develop a variety of skills such as bill collection, marketing and book keeping among others. The more advanced knowledge you have, the better prepared you will be, to start up your business and handle the challenges that arise.

Are you able to handle the pressure?

There is a lot of pressure involved in entrepreneurship. You need to work longer hours and more days in a week than an employee, to grow a successful business. You may lose touch with friends, have very little time for family, and abandon some of your hobbies or interests to focus your attention on the business. All this pressure can cause you to burn out in the middle of the startup process and this will spell doom for your business. It takes think skin and ability to handle the pressure of being an entrepreneur.

The bottom line

Entrepreneurship calls for a range of qualities that do not come naturally to everyone and many people find it intimidating. Many people who pursue entrepreneurship with an intimidated mindset struggle to succeed. Entrepreneurship is not a career choice but a life choice and you should make this decision after having searched within yourself, to see if you posses all the right qualities.

Bio

Martha Coleman is a Career advisor with many years of entrepreneurship under her belt. To know more about debt relief, Visit out site.

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