15 Nov Think about this before you quit your job to start your own business!
We all love to craft our own ideas in order to build a niche, and that very much requires making some hard decisions. I mean…. Starting your own business is more than projecting numbers and looking at profits.
It could even mean leaving your current job. We may often crib about our boring work and horrible bosses. But are we driven enough 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 a 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 means that you will be on your own with nothing to fall back on. Are you ready for that?
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 out several functions with or without resources at your 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. Are you ready for that?
3. Are you willing to burn bridges for a better tomorrow?
Don’t resign abruptly from your current job until you’re sure that’s what you really want to do for the rest of your life. 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 this current scenario changes 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?
Starting a business from the scratch is going to surely take away most of your time, thus 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. Are you ready for that?
6. Do you have enough resources for your new venture?
Having an idea is never enough but you are going to need efficient planning, implementation and adequate resources to run the show. Ask yourself the kind of resources that you have so as to push your venture ahead. Are they enough?
7. Are you ready for the grueling sessions?
Get ready for the grill. From selling the product to monitoring accounting and even advertising, you really gotta have all the answers!
8. Are you open to constructive and destructive criticism?
As an entrepreneur, you’ll need to be assertive and otherwise be able to 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 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.