’Ideas are easy. Implementation is hard.’ — Guy Kawasaki
So you have couple of great ideas awaiting to be transformed to reality. You have compiled proposals and list of investors are ready to support the dream. However, creating your own startup and leaving your currently stable job to seek a full-time entrepreneur is not as easy as it might sound.
According to Asian Entrepreneur Infographics released in 2015, over 400 million people in the world are entrepreneurs. This stat demonstrates that when given an opportunity to do so, almost everyone wants to build their own business. Yet, putting aside the financial and technical supports, not everyone has what it takes to be their own boss.
While it sounds cool to have a company, being an entrepreneur requires strong will, dedication, and commitment in the process. The truth is, almost 50 percent startups fail within five years of operation. Before you leave your job and start your entrepreneurial journey, here are five signs to that indicate if you are more suitable for a job than being an entrepreneur:
1. You are afraid of taking risks
Entrepreneurship is tough, and you should be prepared to give your all. Despite every resource you might have on hand, there is no guarantee for success. When you leave your job to realise the dream of creating your own brand, the process requires huge willingness to take whatever risks it might bring in the future. However, if you have zero tolerance to risk and tend to play in your safe zone, you might need to rethink your intention to build your own startup.
2. You are not a good decision-maker
This will be your own business, so you should be the one who makes all business-related decisions. You might be able to hire consultants and ask them advices, but in the end, the decision is yours to make. As an entrepreneur, you will have lot of things to decide. Whether it is your product placement, your future office location, employee recruitment method, or target customers, you should be able to make the right decisions that will make your business move forward.
If in the beginning you are not confident enough to make important decisions, chances are, you will find more difficulties along the way.
3. You lack basic knowledge
As an entrepreneur, while it is true that you might not have experience levels as Mark Zuckenberg. But with inadequate business knowledge, lack of business acumen and organisational skills you will bring your startup nowhere but the downhills.
Before establishing your own business, you should support yourself with basic business fundamentals on, marketing, and accounting knowledge.
Even if you do have formal educational background in a field, then there are numerous courses available online that facilitate skill upgradation for free. If you find in lack of sufficient knowledge, then you might want to go back perhaps to your previous position as a corporate employee.
4. You hate changes and challenges
Being an entrepreneur means you have to be ready for a roller-coaster experience along the way. Flexible attitude to deal with unexpected changes and challenges is a must-have value for everyone, who wants to succeed in their startup journey. If you tend to find comfort in flat environment and smooth movements, then you might not be cut out to be a businessperson.
The idea of launching your own startup seems appealing to everyone, especially the young generation of millennials. However, it is important to bear in mind that not everyone is suited to be a leader. Rather than gambling your career and regretting the decision later, it is better to judge and analyse your own capabilities first. As long as you are passionate about your job, being an employee still gives you enough chances to prove your mettle by making most of opportunities for growth offered.
Next read: Reasons Why Nobody Wants To Fund Your Startup