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| 🖌image credit to jobcreatorsnetwork.com |
Entrepreneurship is the capacity and willingness to develop, organize, and manage a business venture along with any of its risks to make a profit. So, the individual who creates this business and willing to take the risks is an entrepreneur. An entrepreneur is usually seen as the innovator and source of new ideas for goods and services as well as for business operations.
Being an entrepreneur is stressful and the success rate is not all that encouraging. But why do people want to become entrepreneurs or wanted to have their own businesses? It could either be that working a job is not enough in terms of financial, time constraints and challenges, or personal fulfillment. Some sorted to home-based business to be with family and to avoid traffic problems in their area.
What could be the signs that it is time to make a transition from being an employee to becoming an entrepreneur?
A specific business that can give you enjoyment and personal rewards or satisfaction. Have your own ideas on how this specific business should work without setting a particular schedule and workload.
2) You have thought a lot about that specific business.
You are sick and tired of thinking about it. Dreaming enough of it about how you would take charge, lead people and follow your own set of rules.
3) You have that virtue of helping others.
A desire to create jobs and to give someone an opportunity or job. There is an indescribable feeling of helping others.
4) You have backup support.
There are people around you supporting your ideas and willing to have your back while you are risking out to accomplish your goals. You have these people that will ensure your food and shelter and a shoulder to cry on while you are trying a different route.
5) You have that One Great Big Idea for ventures.
You have that great idea to sell something that has an improvement on what is already available in the market. You have that obsession for a new idea to build a better product or service.
6) You have got a Marketing Plan or Feasibility Study.
To achieve that dream venture you should have a plan based on market research, budgeting, financing, and projected income. This plan serves as a guide to making your vision a reality.
7) You have a strong backup plan.
There should be a strong backup plan to pursue if your first venture failed. This plan should keep you afloat until you could try again. Never put all your eggs in one basket. If you have this backup plan you will not be afraid of failures with your business venture.
Make a list of all these signs and determine if you are ready to become an entrepreneur.
