Should I Be An Entrepreneur? Ten Questions that Will Give You Your Answer

As an aspiring entrepreneur, what was the first question you asked yourself to determine if you should pursue entrepreneurship or not?  Did you question your ability to start your business, the amount of financial resources you had to grow your business, or your business acumen to maintain it?

These are all very important questions that are worthy of our contemplation. But there is still one critically important question that 99% of us fail to ask of ourselves. I saw an interview that  IFV News did with Carol Roth, author of   The Entrepreneur Equation: Evaluating the Realities, Risks, and Rewards of Having Your Own Business that addressed this all important question.

Should I be an entrepreneur?

The other day, I spoke to a very good friend of mine. She and her husband are considering starting a family. Another couple that they know just had a baby. She asked the new mother to give her the “low down” on motherhood. We laughed about it, but there was a serious undertone.

Why do we just see all the beautiful pictures of the radiant new mother with her baby? Why doesn’t anyone tell us about the postpartum depression, the many sleepless nights we will endure, or the weight we can’t seem to get rid of.

Of course, we all agree that having a child should be one of the most joyous events of our life. But in all honesty, everyone can be a parent but not everyone is ready to be a parent or should be one. So, with that said…

In this current moment, do the benefits of pursuing entrepreneurship far outweigh the risks? And just like with parenthood, we tend to only think about the joys of having a business.  We envision financial independence, being our own boss, and living our passion as the obvious outcome in our pursuit of our dream. I know those were some of the key reasons I decided to start my own business.

If I knew then, what I know now, would I have still pursued my dream to become an entrepreneur?  Probably so.

Nevertheless, there have been times when I have thought about the pluses and minuses and answer has equated to a negative.

Here are ten questions to think about:

  1. Do I have a sound business concept/idea?
  2. Do I have the ability to successfully develop and implement this business from concept/idea to reality?
  3. Can I take responsibility for the success and failure of the business?
  4. Do I have the financial means to sustain myself during the early stages of business?
  5. Do I have the mental resilience to get through the tough times?
  6. Do I have the ability to bounce back financially if the business fails?
  7. Am I willing to work longer hours and make less money than if I was working for someone else?
  8. Do I have a good support system in place?
  9. How much will my love ones support me financially and emotionally?
  10. At what point will I walk away from entrepreneurship?

These questions are not meant to “rain on your parade.” By all means, I want you to pursue entrepreneurship with zeal and passion if that is your desire.

But for those of us who have considered starting a business or have already started a business, we may be very disappointed by the effort it takes to travel down that long and arduous road to success.

Any successful entrepreneur will tell you that it is a grind. For a lot of us, it is well worth it! We all must make that decision for ourselves. It will serve us well to make that decision before we take that road less traveled.

  • Twitter
  • Facebook
  • LinkedIn
  • StumbleUpon
  • Google Reader
  • Digg
  • Technorati Favorites
  • FriendFeed
  • Delicious
  • Share/Bookmark

Tags: , , ,

Post A Comment