You want to be an entrepreneur…but do you have what it takes?

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I worked in corporate America for over 20 years before becoming an entrepreneur. People ask me all the time, “Should I start my own business?”

Only you can know if you’ve got what it takes, but here are some questions to ask yourself before leaping into entrepreneurship.

Are You Ready to Be an Entrepreneur?

  1. Are you a life-long learner? Are you curious? Do you take courses offered by your current employer or sign-up for eLearning opportunities?
  2. Do you set goals and expectations for yourself? Are you able to monitor and motivate yourself to achieve your goals without acknowledgment from anyone?
  3. Are you comfortable working more than 40 hours per week? Does flexibility mean working from where ever you are when something needs to get done?
  4. Are problems a fun challenge? Can you solve your tech issues?
  5. Do you have an idea of the type of business that you want to start? Have you been researching the concept/product and the industry? Are you currently working on the business plan?
  6. Do you think about your business idea all the time and how you could make it successful, even when you’re ‘off the clock’?
  7. Are you willing to continue your job and pursue your new business as a side hustle? Are you focused on saving a year’s worth of your living expenses so your side hustle can become your full-time career?
  8. Are you able to see the big picture and strategize for the long-term? Are you *also* able to drill down on the details and understand how they ladder up to the big picture?
  9. Do you frequently discuss your idea with your friends and family? Does sharing your idea energize and excite you?
  10. Have you created a budget for your business? Do you have an estimate of how long it will take you to reach profitability?

If you answered “Yep, that’s me!” to at least 75% of these questions, then you are ready to take on the entrepreneur path. Now it’s time to get serious and find a way to answer “100% YES” to all of them. Good luck on your entrepreneur adventure!

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Kim Martin