3 Questions to ask yourself before starting a business..!
So, you decide to start a business..! That’s great, but before doing that, there are 3 questions must be asked and answered properly, before taking any further step.
Answer “YES” is not the main goal; but the idea and the mentality beyond that.
Question#1: Am I financially secured during first year?
One of the main reasons why startups fail during first year is mainly related to financial issue. At the beginning, any founder has to focus on the business itself and how to develop it and keep it surviving. The last thing that any founder wants to find himself is; to worry about house rent or children school fees!!
If your approach is to stay in your current job as an employee in parallel; it is OK, be there and don’t quit.
I’m not saying you have to be 100% secured..! But at least to have a plan to sort out any financial requirement could happen.
Question#2: Am I able to handle the stress I’m going to face?
In entrepreneurship the principle is not how to avoid stress; but how to deal with and handle it accordingly.
Stress will be generated by unexpecting matters. And this trip is full of these.
As long as you move on and take actions, there will be many kinds of obstacles. You’re going to be stressed to pick a client ..to price a project ..to finish it on time..to fight to get your payment ..etc”.
But..how could I know that I can do that and stay standing..?
The answer is a counter question: Are you trusting yourself enough…?
Question#3: Am I ready to give up some of my pleasures ?
You have to keep in your mind as you decide to start this trip, there will be a lot of pleasures in your usual life to be limited and controlled, especially during first year and till all issues to be stabilized (1–3 years). When we say pleasure; we mean what your comfortable zone was giving you. Like getting weekends with piece of mind ..heading to vacations…replacing your old car.. buying the latest version of mobile..etc.
All these pleasures may have to be postponed for a while.
It is not easy..right?
You have to know that reducing your expenses to be minimized as much as you can; is one of the most important strategies you have to follow at the beginning.
