Entrepreneurship is not easy but it's always worth trying. Before jumping off the squirrel wheel and becoming an entrepreneur, it is required that one carefully weighs not only the business idea but also his or her abilities and prerequisites for becoming an entrepreneur. It is always advisable to familiarize yourself with it properly! By believing in yourself and developing as an entrepreneur, you can achieve your goals. Here is a checklist that those interested in entrepreneurship should go through before starting out!
Do you have a business idea?
Is the spark of entrepreneurship just long as the matchstick or did it come to you because you have entrepreneurs in your family. Did you get it by reading books on entrepreneuship? Whatever, it is, your decision to become an entrepreneur should be planned thoroughly. You may have a great business idea and a plan in head but you don’t know where to start. That’s ok! It’s worth if you start by understanding the existing supply and demand aspects and your rivals in the market. However, an idea is not enough even if there are no players in the field. You need to refine your idea to make your product unique. A great start requires a great business plan as it helps assess strengths and weaknesses of your idea.
Ask yourself why does entrepreneurship motivate you?
To become an entrepreneur there is no age bar. You can take up entrepreneurship even after you retire from job. It can also be part time along with your job. However, entrepreneurship is suitable for people with special skills. Do you want to use your skills in a way that nobody has done or offered before? Do you want to plan your schedule the way you want it to be without being afraid of long work days? If this motivates you, you can always give entrepreneurship a shot.
For some, entrepreneurship runs in the family. It’s a trait. Starting a business gets easier in a family where entrepreneurs are already on the go. Continuing a family business is natural in such cases. You can also end up becoming an entrepreneur if there are no jobs available in your field, but there is still a demand for products or services.
Are you ready to put in all effort to make your business successful?
Entrepreneurship is synonymous to responsibilities. An entrepreneur wears all hats of that of a CEO, marketer, salesperson, customer service executive of his company. Not everyone can afford all these positions and hire people right at the start or even before the first order is received. But if you are ready to juggle everything with a smile to realise your dreams , entrepreneurship is your call. You may get many setbacks but those should encourage you to trust your abilities and commit to becoming successful in business.
Do you have enough entrepreneurship within you?
Understanding your market and the business basics is desirable, especially for those dreaming of starting out big. Even small businesses require good industry related knowledge, of course, if one possesses the skills related to the business is beneficial. On the other hand, you need not have skills to run a business. In that case, you might require a team and need to delegate work to them. But having knowledge about the job is a plus. One should always have the urge to learn the skills or gather good knowledge about it in order to lead your team.
Are you ready to learn?
Successful entrepreneurs always learn new things. They keep their eyes and minds open to all the knowledge resources and all the possibilities around. Follow the entrepreneurs or companies whom you admire and try emulating them to learn and succeed.
Are you always ready for constant change?
Entrepreneurship is never static. Its always dynamic as the market where entrepreneurship flourish is always dynamic. Hence, entrepreneurs need to constantly keep learning. There are several ways to doing a job with both pitfalls and success as the outcome. But it should never discourage you from trying and testing the waters. Every entrepreneur learns to work better and more efficiently over the years, but if necessary, you can also get more training for yourself.
If the answer to all these questions above are yes, entrepreneurship is definitely your calling. The gap between your transition from wage earner to an entrepreneur is already narrowed when you find that you have a clear cut business idea in hand, you know that entrepreneuship motivates you to the core, you are ready to sacrifice your energy and time into creating something new, you are a constant learner and you are ready for constant change. Take the plunge then, why wait!
Entrepreneurship is emerging as a
trend! For many, the first thing that comes to mind about entrepreneurship is
the freedom to decide your own working hours and be your own boss.