Working for someone else is hard when you have a business idea that’s constantly on your mind. But that’s not enough for you to take the leap and start your own thing, right? You need more affirmation that starting your own business is the right move to make and that everything Gary Vaynerchuk has preached is true…
Forget what your best friend or mom said about quitting your job and being your own boss.
None of that matters.
What matters is you and how you feel about doing your own thing. If you’re still debating whether you should go all in to start your own side-hustle, this blog post is for you. We made a list of 9 signs you need to start your own business.
Keep reading to find out if you score a 9/9!
1. You’re passionate about your startup idea
To be successful in starting your own business, you must be flaming about it. Passion is often the nr.1 motivator to get things done.
Plus, passion is contagious and will work in your favor to get others excited about your business. Think friends, co-workers, potential business partners, or investors. Getting them on board with your business will be a lot easier if you can channel the buzz about your idea.
If you’re not beyond excited about your startup idea, then don’t pursue it. Without passion, the road to your own business won’t give you fulfillment. What’s the point of spending your time on a business you won’t even care about that much?
2. You have a plan and a market for your product or service
You already have a somewhat clear direction where your business will go. You know who’ll love your product or service and why they’ll want to use it.
Understanding these basics of your potential business is important to envision its success. If you’re not sure about who your customers will be and the reasons why they’ll choose your product—rethink if your idea is worthy to pursue.
Before you fully invest in your startup idea, outline a plan for it. Be it a full-blown business plan or – at least – just an outline.
3. You’re ready to learn, win, and fail
Starting your own business is like going on an amusement park ride. You’ll go high, you’ll go low and you’ll pee your pants at some point, too (maybe).
So if you’re up to experiencing everything your new business can bring, then go for it!
Starting a business will teach you more than you can imagine—both about yourself and the marketplace. You must be ready to learn from your mistakes and then, be okay with yourself when repeating them. You must be ready to make bold and fearless decisions if you don’t succeed. And, lastly, you must be ready to succeed, manage high expectations, do even more work and become an industry expert.
Business owners are risk-takers. You have to be in the mindset where you’re ready to deal with whatever happens.
4. You’re self-disciplined and organized
Ask yourself if you’re ready to be your own boss and do as you say. You are? Good. Because it might be the case that you’ll start your business alone and there won’t be anyone managing you but yourself.
You must be a self-starter, a master of efficiency and effectiveness. Spending hours of extra work to drive progress towards your most important project shouldn’t be an issue for you. You know nothing of procrastination and everything about time management.
You take organizing your work to the next level and prioritize all your upcoming projects based on difficulty, time, deadlines and value. And then you stick to your plans.
Time is everything when you’re working towards your own goals. And if Netflix or your cat comes in between, you should be able to say no.
That doesn’t mean you should ban your furry companion or cancel that Netflix subscription to start your business. Have self-disciple to resist any distractions while you hustle towards your business and you’re set for success.
5. You know what you’re getting yourself into
You understand that starting your own business is not a walk in the park. You’re aware there are other people, professionals who are already doing what you plan on doing. You know your competition and you know what’s it going to take to win it.
Nobody needs 10 years worth of experience in the field to start a business. As long as you know the basics of running a company and are confident in your craftsmanship, you’re ready to start your own thing.
6. You have a savings account
You’re aware that most companies are not profitable in the first, second, or even the third year of running. And you’re okay that it’ll take some time to actually start earning money.
The second most common reason why most new companies fail is that they run out of cash. If you’re just looking to make money quickly, you're unlikely to succeed. It takes time and persistence to get your business off the ground, so be ready to commit or you'll end up disappointed.
Don’t get discouraged, you can still launch your business even with a very little capital. Just take into account that it takes time to start generating income.
7. You don’t take no for an answer
You never give up and see difficulties as opportunities to improve. You don’t get discouraged when facing disbelief, instead, you get excited to prove them wrong.
Are you familiar with the famous story of Harry Potter? Yes? Well, you wouldn’t be if J.K. Rowling had quit submitting the book to publishers after being rejected. J.K. Rowling simply didn’t take no for an answer even though she was told no by many publishing houses before being accepted by Bloomsbury.
If you have the can-do attitude and don’t give up easily, you have the potential to make it big in your startup.
8. You’re okay with not being 100% ready
Prepare yourself to be stuck at 97% for most of the time. Most successful business owners have started their businesses before they were ready. They don’t spend time to fully prepare or learn everything there is before the grand launch.
You know that there will always be more things to learn, culprits, to avoid, and more time to invest in perfecting your business. You’re okay with launching your business and then learning from there.
The key is to make the jump first and then craft your wings while flying.
9. You just want to do it
At the end of the day, nothing can change your mind about starting your own business if you REALLY want to do it. You see the business world as is with many obstacles and know how to overcome them. And that’s what’s important.
Almost all of the things mentioned can be learned or built upon, and if not by you, then by someone who’ll help you. If you have this urge to start a business and you’re ready to give it your all, then go for it!
Most successful people live by Nike’s slogan “Just do it” and so should you. If you give yourself the green light to run with your startup idea, then good luck with everything that comes in your way. And remember, while you might be a little fish in the sea of business right now, you are destined for great journeys. Embrace the challenges and grow from there!