Entrepreneurship is NOT for everyone. My experience in the matter has made that very clear to me. There is a reason why only 50% of businesses even make it past their fifth year. That's just making it, not making it and making six figure income. It is HARD to be the CEO of your own business. It is hard to be a freelancer with your own line of work. It is SO hard. Some people NEED that security of a check every two weeks.
So how do you know if you should chase that entrepreneurship dream? Let's venture into how you know you are an entrepreneur just waiting to take that risk.
How to Know if Entrepreneurship is For You
You're patient. Entrepreneurship is a long term game. It will take blood, sweat, tears and a lot of work you won't be making any money from. Are you going to be able to wait it out? Are you willing to be broke in order to be wealthy?
You're willing to learn.... A LOT. You won't be an expert at everything. In fact, there will be a lot of things that you were not prepared for and that you will have to learn on the go. You may think you have a good idea of what you're getting yourself into because you did a little research or you read a book, but let me just tell you... you don't know ANYTHING about what you're really about to be getting into.
You have a passion for something you'd do for free. I say this because for awhile... you will be pretty much doing it for free for awhile or what will feel like for free until it takes off.. which will take awhile. You will have a lot of behind the scenes work that won't seem worth it if you if you aren't passionate about what you're doing.
You love a challenge. If you don't enjoy a challenge at every turn... or can at least tolerate a challenge at every turn and maintain your mental health, YOU DON'T WANT TO BE AN ENTREPRENEUR.
You know your weaknesses. This is kind of important. Knowing what your strengths and weaknesses are allows you to know what you should be focusing on and what you're going to need to eventually delegate out to someone who it is their strength. Too many people (myself included) try to wear all of the hats and end up losing the quality and passion in the things they actually enjoy and are good at.
You're not ONLY money motivated. We all want to not be broke. I know. However, in order to make a business work you're going to have to be in it for far more than the money. Your why is extremely important and will be what keeps you going when entrepreneurship makes you want to pull your hair out
I am not an expert in entrepreneurship, but my experience has shown me that it takes a certain level of patience and love for what you're doing. I have seen many thriving entrepreneurs who couldn't take the pressure or uncertainty on whether or not they would succeed. It is all about mindset.
Is entrepreneurship for you? If it isn't... that's OKAY. Everybody doesn't NEED to be an entrepreneur. Some people are perfectly happy working a job. What is important is that you're doing a job you love.