To be an Entrepreneur, or not to be?

That is the question.

Are you ready to finally go after your dream and become an entrepreneur? Here are a few last-minute questions to ask yourself before you dive in head first.

Am I willing to take a lot of risks? There is nothing like starting your own business to find out your risk tolerance. There will definitely be several speed bumps along the way, with no guarantee of a steady income. You have to be willing to jump off the edge of a cliff with your eyes closed. If you’re risk-averse, you probably want to re-think being an entrepreneur. However, if you are willing to take the biggest risk of your life, you will most likely be glad you did.

Am I prepared to make a lot of decisions? There won’t be anyone else around to make the decisions for you now, so you are going to have to do it. If you consider yourself to be indecisive, you will probably struggle as a business owner. You will have to make every decision from “Should I work at home or lease a place?” to “Do I advertise?” And it is only going to get more complex along the way. Trust the choices you make or else you might drown in all the decisions you have to make.

How passionate am I about my business? Whether you are starting up a new product or service, are you very passionate about it? You better be. You are about to be living and breathing your new business 24/7. It will be a much easier process if you are enthusiastic about what you’re selling. Your customers will notice your passion, too. If you don’t have a zeal for what you’re doing, the rough patches will feel even rougher.

Am I prepared to sacrifice a lot? Once your new business takes life, you won’t have much time for anything else. Hobbies, vacations, and even loved ones are going to sit on the back burner for a while. Eventually, your business will be steady and you will have your life back-- but you can never know for sure when that will be. Make sure you tell your friends and family beforehand that you are going to fall of the face of the Earth for a little while. You do need to find some balance, though. Commit to mediating for 15 minutes every morning or always take Sunday afternoons off. Prepare yourself to give up a lot for some time, but make sure you do not burn out.

            Reflect on these four questions for some time. You’ll know in your gut if you’re ready to be an entrepreneur or not. And if you decide to go for it, prepare yourself for one hell of a ride.

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