Gone are the days when people did not want to take risks and went only for the “steady job” route. The whole equation has changed now. People are ditching their 9 to 5 jobs for the Business gig. Today, the concept of fat paychecks, freedom of expression and unhindered growth seem more alluring to the common man. But, is a successful business scheme as easy as it seems? What could possibly act as a deterrent? What is the best business design to be a sure shot success? A lot of questions may cloud your mind stepping into the business arena.
In this article, we are bringing you answers to 10 age old questions you need to ask yourself before starting a Business.
Can you see yourself doing this for the rest of your life?
If a business becomes successful, you have to stick to it for the rest of your life. If you just see yourself starting a business, to make some fast cash for few years, it isn’t the right business plan for you. You have to remember once you’re in it, you’re in it for good.
Can you adapt to adverse crisis situation?
When starting your business, it is important to note that the days of monthly paychecks are gone. Starting your own business means accepting a feast-or-famine mentality, which basically means that paychecks will no longer come at a fixed time, some months you might be have surplus and some months might just resemble a drought.
Do you have an undying spirit?
Everyone reacts differently to setbacks. Some might give up, some others might find it hard to recover while the rest simply jump right back up. That’s exactly how successful people react in trying times.
Can you momentarily wave good bye to your social life?
This is another major challenge most entrepreneurs tend to overlook. If you love partying with friends, going out and taking long breaks, take a minute and consider whether you can give all that up momentarily. Starting a business is tough and you have to make some small sacrifices along the way.
Are you the guy with all the neat tricks?
If you are about to open up your own firm you need to be inspirational to the rest of your employees. You need to be good at what you are doing, to be able to motivate others to do well.
Are you comfortable with overtimes?
When you are opening your own business you should keep one thing in mind. Work hours will not be fixed anymore. You could be working for 18 hours straight, get a 2 hour break and will have to be back at that desk again. Only if you’re ready for this, go into the business line.
Is time management one of your finest skills?
Tracking and completing your tasks in an efficient time-management cycle can make or break business. Before starting a business you should ask yourself if you’re really capable of time management.
Do you have exceptional marketing skills?
It’s not about how good your product or service is, it won’t be a success venture id people don’t get to know about it. Marketing skills are an absolute essential for business.
Can you ask for that money?
If you complete your work satisfactorily, you should have the ability to track down and collect timely payment from clients in a firm yet friendly manner. If you’re not okay with calling the client regarding late payment, you better not quit your job already.
Do you have a game plan?
This is topmost in the list of questions to ask yourself before taking the leap. Have a good idea of your strategic plan, marketing design, sales expectations and the operating costs.
Coming to the end of the list, one last piece of advice would be “Ask for help, when you need it”.