Starting a business is the dream for a lot of people. Unfortunately, too many of them remain stuck in the dreaming phase. There’s a natural tendency to assure that you’ve considered all the risks and have a plan for addressing every likely outcome. But entrepreneurship involves some events that you can’t see until you get started.
There are no shortcuts for knowing everything to confront you when you start a business. Most of the successful judgments you’ll execute for your own corporation are the result of basic self-confidence. You’ve probably developed that ingredient in the process of planning your business. Here are some signs for knowing that you deserve to finally give yourself a chance as an entrepreneur.
A good indication of your mental readiness to launch your new corporation is when you believe that a bad day with your own business is better than a good day at your current job. Engaging in proper planning is certainly important but it’s no substitute for actually feeling the role of entrepreneur.
Running a business involves making decisions with imperfect information. The freedom you enjoy with your own corporation involves relying upon your experience and relationships alone. There’s no co-worker who can sabotage your project. So you’ve got nothing to lose by going forward with your venture.
Another clue that you’ve done enough planning for your business and are ready to start is when you have more ideas for business than you have time to address. This means you’re ready take action by creating your new corporation. New ideas are the hallmark of a good entrepreneur. As better plans arise, they replace old plans. The process of running a business is a continual evolution of priorities.
This happens because you find ways to leverage the market credibility that you create with your own business. After all, Oprah didn’t start out by creating a book club. That came after she had built an audience. Jeff Bezos didn’t start Amazon as an online marketplace of various products. He only added new products after scoring a hit with selling books. You have to get started in business to begin building that reputation and seeing where it takes you.