6 Questions To Consider Before Starting Your Own Business
Having a business and being your own boss is probably what you have been dreaming of for a long time. Thus, now when we’re about to enter the new year – you probably start thinking that this might be the perfect time to jump ahead and finally work toward your dream and goal.
This definitely can be true! After all, the new year is an ultimate moment that can inspire you and at the same time push you to reach the higher limit of your capability. But, before you finally submit your resignation letter and say goodbye to your current job, you should think it through and consider various things first.
In this current time, where inflation has affected economic growth, you should not rush to decide to quit your job. You need to make sure that giving up your financial stability as an employee will be the right decision in your life, instead of regretting it in the future due to your lack of preparation.
You also need to remember that running your own business doesn’t mean you can be more relaxed than being an employed staff member. Your responsibilities and work won’t be decreasing, instead, they will be back tenfold. To set up a new business you have to be willing to invest your time and energy into it. Here are some considerations that you have to think about before deciding to resign from your old post.
Did you resign because you wanted to start a business?
Understanding what is the ultimate reason why you chose this path is important. Was the reason you resigned because you were bored at work? Or because you encounter a problem or conflict at work and you couldn’t solve it?
It’s best not to make a career switch if your reason is having problems with other people. Because in the business world, you will have to deal with more people. The ideal reason you resign should be because you think you have the proper knowledge to start a new business venture.
Are you sure that starting a business will make you happier?
Before you venture into becoming an entrepreneur, you need to make sure that starting your own business is something you want. Make sure that by becoming an entrepreneur, you will be able to find happiness and self-actualization. If you’re still unsure, maybe you need more time to look inside yourself and find out what jobs you enjoy doing.
Starting your own business is not easy. When you are finally sure that this is what you want, you can walk to the next step. Having this mindset will help you to preserve even when your business is encountering a problem in the future.
Are you ready to work overtime?
Starting a business after resigning seems ideal. However, are you ready to work harder and without a time limit? As mentioned before, building a business will require you to give more. From time, energy, and even on the financial side. You should think about this before deciding to resign and start developing a business. When doing business, your work won’t be determined by the time when it starts and finishes.
Are you confident that now is the best time to start a business?
Leading your own business requires courage. However, you don’t just have to be brave, you also have to know the right and most conducive time to leave your employment status and move on to become a full-time entrepreneur.
The right time is not only a matter of whether you have sufficient capital or the maturity of a business plan, it also means that you are ready to work without any fixed income to enter your pocket every month. If you are the breadwinner of your family, leaving the financial guarantees provided by your current office may need to be reconsidered.
It does not mean that you can’t be an entrepreneur, but you just have to leave everything behind with a much more thorough and realistic plan.
Do you have the right mindset to start a business?
The toughest challenge that needs to be faced by the self-employed is a change in mindset. Moving from a structured work environment, where there is a schedule every day, to a routine of doing something in conditions full of uncertainty. In addition, you are also required to continue to grow so that the business you are running can still run and make money.
Therefore, ensuring that you have the right mindset and can manage your time properly is a must before deciding to resign to start a business.
Have you prepared a business plan?
It is important to have prepared a business plan before finally resigning and becoming an entrepreneur. Before starting a business, you have to make several plans. For example, what your target consumers will be like, what advantages your product has compared to competitors, how many sales targets must be achieved each month, and so on. The business plan will be the guideline that can help you to ensure your business can continue!
These are some considerations you need to think about before deciding to resign and start a business. Keep in mind, to be a successful entrepreneur, you must have the drive to continue to grow, both in terms of yourself and the business you are in! Having this mindset will help you to achieve your dream of being a successful entrepreneur.
