01 Jan 5 Questions You Need To Ask Yourself Before Going Into Entrepreneur Life
It’s all fun and games until you hit the dark side of an entrepreneur’s life. Reporting live from the crime scene; it’s slightly darker than the dark side of the moon. Many people, especially if they spend more time online than in real life, start building their business / lifestyle expectations from the entrepreneurship journey, according to the glamorous pictures presented in motivational accounts targeting aspiring entrepreneurs. Still reporting live; no, it’s not that glamorous, and when it looks like it, remember it’s a highlight reel!!
Deciding to go for your own business, or a full fledged entrepreneur life is not an easy decision. In effect, you will have to consider it thoroughly before stepping in; so you don’t end up disappointed with it and with yourself. In order to make your choice easier, here are 5 major questions you need to ask yourself before making any decisions:
1- Do I understand the time investment involved?
Becoming entrepreneur means sacrificing the security of a regular 9 to 5 job with a salary, to the uncertainty of a highly competitive market. In the beginning, you will move from putting 8 hours of work a day, to at least 12, going all the way up to 16 coupled with a few all-nighters. One of the things you need to be sure of, is your willingness to handle the long hours and sleepless nights.
2- Am I ready for the quantity and quality of effort needed to become the next success story?
Success is highly dependent on your competitive skills, this is why the quality of your skills and efforts, as well as their quantity, needs to be constantly increasing in order to meet the requirements of being at the top of your industry or at least among its competitive players. You will need to be comfortable with continuous learning, and constant readjusting to the market.
3- Am I resilient enough facing downturns, disappointments and long waits?
Business is never stable. It goes through ups and downs all the time. It also experiences long business development pipelines and periods of long waits where things look as if they’re not moving or going anywhere. These are the times where you will need to be the calmest, the most patient, and the most capable of putting things in the correct perspective so as not to give up to stress or disappointment. This kind of patience and resilience against time is a crucial key to survival in the entrepreneurship world.
4- Do I react reasonably facing failure? How tenacious is my motivation?
No one is immune to failure once a while. Most of the success stories we know, came after one or several failures. The steepest learning curves, are built after having tried and failed. This is why, the capability to navigate failure without losing your motivation, or even contemplating giving up , is of extreme importance.
5- How bad do I really want to become successful? And is it for the right reasons?
After everything had been addressed, the real question before taking the entrepreneurship plunge will always boil down to how bad you want to become successful and why?! The harder your drive, and deeper your reasons; the stronger your will and motivation will both be!! You will need to start with a deep soul search to unearth your true ambitions and higher motives, to confront the person you are with the person you want to be, so you can start your journey with a clear destination and a willingness to do whatever it takes to get there.