Are You Ready for Entrepreneurship?

Is it the right time to open a business? Strike out on your own? Leave the rat race for greener pastures (ignore the mixed metaphors)? Open a business?

I don’t think that any of the questions above or any version of these themes can be answered in the absolute. In other words, there is no such thing as the “perfect time”. There are never the perfect set of circumstances or any particular set of markers that can let you know when exactly you should go ahead follow your dreams and desires. These dreams, how we pursue them, what we need to accomplish them and who will come with us on that journey are variables that will be different from one person to another, from one business to another, from one industry or profession to another. So how do we know when the best time for us is?

This is an interesting question because it requires a degree of introspection that not all of us possess (I admit, at times this is me). Certainly, there are administrative steps to take prior (market research, business plans, prototyping, setting up ownership structures, etc.), but that’s not what this post is about. More to the point, how can we know exactly when we are mentally prepared to take the plunge? To recall a theme in the movie City Slickers, “that’s what you have to figure out”. I’m not being difficult here, but what I mean to say is that this is different for each of us and as such we need to look at our own circumstances to arrive at that answer. We need to discuss this with our circle of friends, our families, our significant others, mentors, running or gym buddies, etc. In short, those people in our lives whose thoughts and advice we value. Having this conversation or conversations will help us identify whether it makes sense, to what degree we’ve done our homework, the level of support we will receive, do we have a marketable idea, etc.  All issues that can help us hone in on that ultimate answer: Yes, it’s time or Nope, not yet.

Perhaps the one thing that all of us could have in common in this search would be the desire to take that risk. Once we’ve answered the question “Am I Ready?”, it then follows: take the risk, do it, execute, go-go-go. Ultimately, it’s not about wondering whether it’s possible, rather to execute and make it reality. We may succeed, we may create a business that won’t get off the ground, however we never fail. Every decision, every move made goes towards experience and it becomes a lesson of what or what not to do. When we realize this, we know that failure does not exist and it empowers us to be much more open to that risk. As the quote attributed to Thomas Edison says “I have not failed 1,000 times. I have found 1,000 ways how not to make a light bulb; I only needed to find one way to make It work”.