10 signs you shouldn’t start your own business from a 2x 8 figure founder.
- Webware.ai
Categories: Business , Decision Making , Entrepreneurship , Failure , Learning , Passion , Sacrifices , Startup , Stress , Success , Uncertainty
1. You’re soft: You can’t take pressure and you often resort to panic. starting your own business is a stressful journey. You’re constantly facing elimination. And it doesn’t get easier overtime.
2. You're not comfortable with uncertainty: Entrepreneurship is full of risks and unknowns. If uncertainty makes you extremely uncomfortable, you might struggle with running your own business.
3. You're not a self-starter: Entrepreneurs need to be able to motivate themselves and take initiative. If you struggle with this, entrepreneurship might not be for you. If you need to watch inspiring entrepreneurial videos to find your motivation this probably isn’t for you.
4. You struggle with decision-making: As a business owner, you'll need to make all kinds of decisions, often quickly. If you find decision-making difficult, this could be a red flag.
5. You’re not willing to go all in: you aren’t ready to quit your job and walk away from a regular paycheque. Nobody ever read a biography of a successful entrepreneur that said they part time it all the way to the top.
6. You're not willing to learn: Entrepreneurs need to be lifelong learners. If you're not open to learning new skills and concepts, entrepreneurship might not be for you.
7. You desire work life balance: unfortunately, that doesn’t exist when you own your own business. I work from the moment my eyes open till the moment my eyes close every day. If you don’t your competition will. Working the weekends is your only way to get ahead of everybody else.
8. You're not passionate: Passion is what will keep you going during the tough times. If you're not passionate about your business idea, it might not be enough to sustain you.
9. You have never experienced pain before. This is an important one because successful founders are usually very resilient. The issue is resilience is only built over time while experiencing tremendous pain. Often you read about successful business owners, and they usually come from horrific stories, whether their personal or professional something usually happened to them. if this one is a gap for you go out and experience pain.
10. You're not ready to fail: Failure is a part of entrepreneurship. If the thought of failing scares you, you might want to reconsider starting a business.
From the outside, it all looks glamorous and fun. Unfortunately, it’s not. You have to chew glass and smile as they say. You probably don’t understand that sentence until you’ve done it.
I discourage people from taking the plunge. Don’t do it. But I’m really checking their temperature for it. If the response is too fight me on it. You made it past the first checkpoint.
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