Starting a business is a dream for a lot of people, but it can be difficult and take time and long hours of hard work. So before you start a business, ask yourself these three questions to be sure that entrepreneurship is right for you.
1. Why do you want to do this? This is easy question, but it’s also very important. Why you want to start your business is your driving motivation. Many entrepreneurs create their own business in order to be in charge of their time, break free from a 9 to 5 desk job, or just to feel more fulfilled in life. Whatever your reason is, define it and remember it. You’ll need that motivation when times get tough.
2. Is there a current and future market for your business? This is incredibly important, and involves the economic impact of your business. You need someone to sell your product or service to today, tomorrow, next year, and ten years from now. Make sure there’s a niche market for your business that will last for years. If there isn’t, you may need to re-evaluate your business idea and come up with something more sustainable.
3. Can you do this? Can you do this is a different question than why you want to do this. Why you want to start a business is your motivation, your drive, and your passion. It’s the reason behind starting a business. Can you do this is a harder question that makes you focus on your strengths and weaknesses. Starting a business is hard. It involves money, time, dedication, and probably more than a few breakdowns along the way. Can you handle that? Can you take the tough times with the good times and make it work?
If you have what it takes to get through the tough times, a long-term market, and the drive to start your own business, then now is the time to get started.