5 Personal Questions before Starting a Business

Most of the Media paint a picture of Entrepreneur as a brilliant,Suave, Cool business person who handled every challenge  with ease. But real Entrepreneurship is about “down in the gutter”, “kick in the Gut”, “stabbed in the back”, “terrifying mistakes” and horror stories that almost every Entrepreneur goes through.

So before you get overwhelmed by the rosy picture of starting a business ask yourself these questions and be ready for a metamorphosis from an employee to an Entrepreneur.

Ask these Questions before Starting a Business

1.  Why do i want to Start own Business

You had an idea and after few days you see somebody else succeeds with the same idea and suddenly you become over-confident that you are perfect for entrepreneurship, if that the case let me tell you, that ideas are many… even a child will give you an excellent idea but entrepreneurship is all about how well you execute that idea.   If you are having a rosy picture about Entrepreneurship please get your facts straight. Instead of reading about successful Business men, go and spend time with people who are building something from the scratch, and if that excites you then you are fit.

2. Am i willing to Learn

Remember when we passed our graduation we were very happy that we don’t have to learn anything again. But you know what, Entrepreneurship is a life long learning. Not only will you have to learn about your Business inside out, but also about handling people and their emotions, Building team, keeping them motivated even when nothing is certain.

3. Am i ready to Fail

Failing is considered very bad in our society. People will laugh at you when you fail and Business is all about failing everyday. “I have not failed… I’ve just found 10000 ways that won’t work.” – Thomas Edison. These kind of quotes looks very good but are you ready to live that thought. Are you ready to learn from your mistakes or you will be bothered about what people will think about you.

“Only those who dare to fail greatly can ever achieve greatly.” – Robert F. Kennedy

4. Am i ready to work for Free

This is very important question to ask yourself as we are programmed to get paid soon after we do work which will not go well with entrepreneurship. You have to be ready to work without getting paid without immediate gratification. Some times months together and even years goes without making any salary for yourself. And at the month end instead of getting paid you have to pay salary to your employees. Its other side of the table, be prepared for that.

5. Am i willing to pay the Price

Its all about hard work, and pure hard work. You can’t tell i have not taken any leave for long time so let me take a leave. It takes Personal sacrifices to build the Business. It make take all your Time, Money and Energy and a promise of future success which may not come. Remember our Class Topper in our college would have scarified so many movies and team outings. “For a worthwhile Success a Worthwhile Effort is must”.

I don’t intend to scare you by any chance about Starting a Business, but it is a humble effort to keep you informed with the right facts about starting your Business. But don’t analyse too much, because analysis leads to paralysis, just jump into a Startup and enjoy the life that we are given to the fullest.

And always remember this –

‘I would rather fail at something I love, than succeed at something I hate.’    -George Burns