Before starting a small business it’s important to ask yourself questions to make sure you’ve thought it through.
A business is a commitment. To be successful you need to fully commit. One of the biggest mistakes that new business owners make is that they don’t persist when they hit a bump in the road. Often this is because they haven’t taken the time to ask themselves these questions before they begin.
The main reason to start a business is that you have a burning desire to do it. You can’t be indifferent to your business. You have to really want to be your own boss otherwise you’ll give up when things are challenging.
Ask yourself the following questions:
Am I comfortable shouldering all of the responsibility and making all of the decisions?
When you run your own business you’re the only one responsible for whether or not it succeeds. There’s no one else to blame and no one else to turn to if you’re not sure what to do. Everything falls on your lap.
Some people thrive when they have all of the responsibility. They feel that they’re free to do what’s best for them. Others think about this and realize that they prefer the safety of working for an employer.
Am I willing to make sacrifices to help my business succeed?
Running a business may mean making sacrifices. This could be time or economic sacrifices.
Are you and your family ready to put some of your needs aside in the short term so that your business can be a success? This might mean working late at night, making sales calls when you’re sick, or skipping a family event.
Do I have the discipline to be able to be my own boss?
When you’re your own boss there’s no one telling you what to do or when to do it.
You have to have the discipline to do what needs to be done in your business every day. You have to have the discipline to maintain the highest standards for your business. No one else will be checking your work or making sure all of the details are taken care of.
This might mean getting up early in the morning or finding a system to keep you accountable to your deadlines.
Am I confident enough to sell my products and services?
Selling your products and services takes confidence.
You’ve got to be ready for people to say “no” to you without feeling rejected. You also have to have the confidence to speak to people about what you do anywhere, anytime. You have to have enough confidence to help other people see the value in what you do. You’ve got to have the confidence to be persistent and keep talking about your business.
Whether it’s presenting at a conference, talking to people at a networking event, or posting about your business on social media, you need to have the confidence to keep showing up.