Let’s face it, almost everyone has had the urge to strike out on their own, to take that big step, to become an entrepreneur… The dream of being your own boss, calling the shots, and making it big has been just the motivation to launch many a successful endeavor. This spark may have come to you as you toil away at an unfulfilling job, experienced cutbacks at your company or just thought up the next must-have product or service.
You’re not alone, studies show that 75% of the adult population are considering a move to entrepreneurship. Everyone at Phil On… Business (POB) came to that fork in the road and it wasn’t without a lot of soul searching, research and evaluation that they took the road less traveled. The good news is – we’ve never looked back – none of us!
So, what do you do BEFORE you take that big step? We highly recommend that you do a lot of entrepreneurial introspection. Do you have what it takes to be a self-starter? The entrepreneur is self-motivated. They don’t wake up in the morning panicked about what they’re going to do, they ask the question “What do I do first?” The entrepreneur has a plan. That plan was developed with many, many questions – Do you have the financial stability to take that step? Lack of funding and financial illiteracy is one of the top 3 reasons companies fail. Do you have the right team or support system? Is there a market for your product or service and WHERE is that market? The checklist and question go on and on… but checklists, plans, and roadmaps are there for a reason, they help you chart your course.
We’ll tackle some of these questions in later posts. For today, if you’re considering taking that big step, we recommend that the first thing you do is a self-assessment. There’s a great article on Entrepreneur’s website by Kimanzi Constable. Yes, we reference other sites and other sources for content, there’s a lot of good information out there – and a lot more to be found by doing internet searches (around the office I’m affectionately known as Johnny Google).
Let us know if you decide to take the big step, we’d love to hear about your journey, feel free to reach out to us directly via EMAIL and tell us your story.
At Phil On.. Business we want you to be in business for yourself – just not by yourself!