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Is Starting Your Own Business the Answer?

Is Starting Your Own Business the Answer?

Susan Bryant | Monster

Not Everyone Is an Entrepreneur

Can you live with uncertainty? Can you delay gratification? Are you persistent? Can you bounce back after disappointment? Can you find creative solutions to problems? Are you in good health? Starting your own business is, quite literally, not for the weak of heart. Entrepreneurs need stamina to persevere in the face of the setbacks and failures they will inevitably face. Be honest about your desire to live the life of a not-yet-successful businessperson.

Even the Boss Takes Out the Trash

Working for yourself can be liberating — no boss to answer to or office gossip to listen to. But there’s also no receptionist to screen your calls, no cleaning service to tidy up your office and no technical support staff to solve your computer glitches. New entrepreneurs often neglect to prepare mentally for the unwanted roles they must take on to keep their businesses up and running. If your ego can’t handle the small stuff, you may have problems adjusting to this new identity.

It’s Going to Cost You

Starting a business can be a huge financial drain until you become profitable. Think seriously about whether you have enough money saved to survive without an income for one or two years. If you have a spouse or partner, discuss how you will handle this financial change. Not only will you be spending a great deal of money on this new venture, but you will also be spending a great deal of time on it. If you don’t have support and encouragement from the important people in your life, your startup may be a lonely, uphill battle.

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