Entrepreneurship the magic word makes miracle.s IT all starts with a simple idea, seeking opportunity in market, working on the idea on constant continuous basis until upto building million dollar empire.
It doesn’t stop there. This is a journey of life. Simple question is can every business be really successful? Simple answer could be YES and No. I recently read an article on entrepreneurship and was surprised to find out that on an average it takes 3 years to determine if your idea will work fine. In addition to this entrepreneurship does definitely carry risk of huge psychological impact in case the plan does not work as expected.
In recent past I have come across many people talking about quitting full-time job to pursue their business dreams. I wanted to share my views on you can seriously test your attitude before you choose to quit your full-time stable career and stumbling upon interesting , unknown, entrepreneurship venture
1) Try to live for 6 months with your past savings – Any problem raises with money and money is the end of everything in life be it entrepreneurship, relationship, friendship etc. When you have plan to quit your full-time job and live on your savings see if it is really possible. For this follow this simple procedure:
1.1) Open a savings bank account or CD or fixed deposit
1.2) Move all the money except for the one you think is your monthly budget for next six months plus some emergency fund onto your savings account and open CD if you are too confident of not touching this fund in next 6 months
1.3) After 6 months see if you are able to manage your life and finances with the fund in bank. This is a real-time litmus test to determine your discipline, spending nature and will be an eye-opener in case you realize that it would have been a folly to have quit your stable income career sometime later. It is always better to be safe than sorry
2) Make your weekends Weekdays – Again in this 6 months try to work on weekends as well. When you launch your firm there is no real holiday until you start establishing yourself. Your business should start growing before you take your first vacation break. As such with this strategy you will be able to determine if you have the self-control to work on weekends as well. Not to end here, see if you can sit in your office space for 8 hours thinking that you are working full-time in spite of lots of distraction. When you launch your first project at home office after quitting full-time job again you will face lots of distractions for which you can be prepared mentally. Six months review will really let you determine your level of self-confidence and capacity to work without any supervision
3) Entrepreneur need lots of Perseverance – This is 100% true. You have to accept it. See if you can spend at least 10 minutes if not more each and every single day and realize your real self. If you are not able to dedicate each and every single day and think you lack commitment make a note of this
4) Log your progress along your test- In addition to tracking metrics make a note of all your positive accomplishments, things that you missed, every single day you missed without working on your business. At the end real review of your log gives your progress report.Note that if this had been positive the level of confidence with which you start your business will be manifold.You will be 100% free of worries and this is a best bet you can count on
5) Success is a habit – Accept that success is a habit . Even if you choose to miss the target in 6 months test, if you still have some balance desire, give it a shot another six months. These are the steps that will help you make real careful decision before quitting your well-paying, stable, safe job. As I mentioned even if you think business will not suit you the experience and learning through this 6 months to 1 year journey will come all along your life and you can apply these to have bright career