Should I start a business?” Every entrepreneur and successful businessperson began by asking themselves this question. Once you have successfully built a meaningful career, the prospect of starting your own company often becomes enticing. You’ve put in the work to build a skill set you’re proud of, and you’ve heard that the creativity and empowerment that come with entrepreneurship are exhilarating.

Being a business owner is often a life-changing experience. Starting and growing a business is a process filled with excitement, anticipation and pain points. You might be asking yourself if you have the skills and stamina required to run a business or wondering if your expectations are realistic. These are all important things to consider, because to truly answer the question “Should I start my own business?” you must take a deep look at your own mindset and skills. Are you willing to do these five things?

1. Weigh the pros and cons

As you ask yourself questions along the lines of “Should I set up my own business?,” you likely have plenty of concerns on your mind. Many prospective business owners are wary of making the leap because they lack formal business education or doubt their capacity for management. Others doubt their aptitude for leadership. Still others face concrete barriers to entrepreneurship, like concerns about money or lack of information about creating a business plan

These pain points are all very real, but there are plenty of pros to starting your own business. You’ll develop your skills, gain valuable experience and undergo fulfilling personal and professional growth. If you’re not growing, you’re dying, and starting a business is a sure way to skyrocket your growth. Ultimately you’ll be able to do what you want, when you want, as much as you want. If that sounds good – and it does to most of us – the answer to “Should I set up my own business?” is likely yes.

weigh pros and cons

2. Examine your excuses

how to start your own business

Many of these concerns aren’t based in reality, but are a result of your limiting beliefs. You tell yourself you’re not a good leader because you’re an introvert or afraid of public speaking – but you’ve probably heard of Warren Buffett, an introvert who overcame his fear of public speaking. You tell yourself you don’t have the money to start a business – but fashion entrepreneur Do Won Chang opened the first Forever 21 with just $11,000 in savings.

The truth is that the answer to “Should I start a business?” isn’t determined by your personality or your finances. Leadership skills can be developed. Public speaking can be practiced. There are plenty of ways to start a business with no investment. These are just excuses we use to avoid taking risks – and those with a true entrepreneurial mindset don’t let them get in the way.

3. Determine your why

Many people go through life without ever discovering what drives them – not just to reluctantly get out of bed each morning, but to truly make their lives a masterpiece. Before you quit your day job, ask yourself this vital question: “Why should I start a business?” Finding your why will allow you to not only create a viable business idea aligned with your values, but one that gives you purpose and fulfillment in life

Your why goes beyond money and material goods. It’s related to your top human need: certainty, significance, variety, love/connection, growth or contribution. It may be to spend more time with loved ones, provide for your children or make a difference in the world and the lives of others. And it will ultimately guide you in the right direction as you consider all the possible answers to “Should I set up my own business?”

determine your why

4. Commit to developing your skills

skill set

While passion inspires you, it’s careful planning that sustains a business. If the thought of quitting your day job causes anxiety, that’s because you’re wise to look before leaping. Now is the time to harness your leadership qualities by mastering efficient workplace practices. By making a habit of setting reasonable goals, managing your time and setting healthy professional boundaries, you’re able to develop the managerial capacity to make it as a business owner.

To develop the skills you need, don’t stop at asking, “Should I start my own business?” Push yourself further and get all the information you can. True entrepreneurs persevere even when it’s scary, utilizing all their resources to make decisions based on facts, not fear. They are in control of their emotions, have a deep belief in themselves and inspire others to follow them. These are all skills that you can build, too.

5. Find the right resources

To grow a business to maturity, successful business owners must be willing to wear a variety of hats, think critically and make personal and financial sacrifices. By acknowledging the pain points of launching a business, you’re already doing the work necessary to create a scalable, profitable and sustainable business model. Asking “should I start a business?” means taking an honest, straightforward approach to evaluating your business readiness. There are resources that can help you.

A combination of one-on-one advice and dynamic, professional events is ideal for determining if you should start a business. Start by finding a mentor or signing up for business coaching. Then look into Tony’s life-changing Business Mastery event, where you’ll go through all the above steps in detail to finally answer “Should I start my own business?” once and for all. With the right support and resources, you can confidently make a sound decision about your next career move.

“Should I start my own business?”

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