Many people talk about starting a business, but few actually do--so how do you know when you should start?
Most people have at least thought about owning their own business, even if they haven't thought very seriously about it. If everyone acted on these plans immediately, the world would be filled with individual entrepreneurs, and an even greater percentage of businesses would end up failing. To succeed, businesses need solid groundwork and brilliant ideas to back them--following your whims isn't enough to achieve your goals.
Knowing this keeps most people averse to pursuing their entrepreneurial dreams, but that isn't always a good thing. Entrepreneurship is always a risk, and facing that risk is essential if you want to succeed. After all, some of the greatest businesses of our time were originally dismissed as "crazy" or "impossible."
So how can you tell that it's time to stop talking and just start your own business?
1. You have more than one motivation. If you're only starting a business so you can quit your job, or only starting it to get rich, you probably won't be successful. Your motivations should be multifaceted, since entrepreneurship is such a multifaceted opportunity.
2. It's what you've wanted forever. This isn't the first time you've considered entrepreneurship. How long have you wanted this position for yourself?
3. You understand the risks and downsides. Business ownership isn't always fun or easy. There are serious risks and serious potential downsides involved, but if you're aware of them and you still want to do it, you're ahead of the curve.
4. You have a solid idea. It isn't just a "business" you want to own--you have an original idea and you genuinely believe it has the potential to succeed.
5. You've done your research. You know what's out there. You know what to expect. You're ready.
Starting a business isn't easy, but if these five signs are any indication, it's what you need and what you're ready for. You don't have to complete the process overnight, but you should at least take a step in the right direction.
Jose Vasquez is a serial entrepreneur and tech enthusiast dedicated to helping startup technology companies get the direction and momentum they need to succeed. As the founder of Build. Brand. Blast., Jose has established a collective resource for tech entrepreneurs to consult when brainstorming, creating, launching, or expanding a new business. Jose is also the founder and CEO of Quez Media Marketing, a marketing firm that combines technology and creativity to help new and growing companies get the results they need.