Elon Musk once said that, “If something is important enough, you should try it even if the probable outcome is failure.” While passion and desire plays a inherit large role of why you should do what you love and start your business, the platitude of Elon’s statement does have inherit risk that forces you to internalize and decide whether or not you are ready to take that leap into the deep end of entrepreneurship.
When it comes to starting your own business, the actual act is quite daunting and overwhelming. For many people, the task is an unrealistic option. For others, however, it is the exact next step that you should be taking into your career. To help with your process, you as a business leader need to internalize the risk and steps needed to make your dream into a reality.
To start off, ask yourself if you are currently focused at your job. For many entrepreneurs, they are working a 9-to-5 waiting for the perfect time to embark on their journey into the private business sector. If this sounds like you, then maybe entrepreneurship is not the right path for you. Entrepreneurs have always been said to have overly active brains. They are free spirits who think of ways to run various operations in bigger and better ways and have ideas about innovative products or processes. After PayPal, Elon Musk was never quite satisfied with his work as a business leader. Instead, he had various plans that went well beyond the online payment platform to innovative and greener technology. If you are an individual who looks in establishing their product or service in a bigger and better way, this could be a sign that you are ready to establish your own venture. Remember, great businesses do not start off because they want to be their own boss. Instead, they are created based off an idea to help improve or create solutions for the betterment of mankind. If your mind is racing with new ideas, be sure to jot them down. Having them in an organized manner can help you create an attack plan that can lead you to your entrepreneurship goals.
Many times, business leaders and entrepreneurs catch the bug because they feel like their ideas and abilities are being wasted at their particular job. In any case, this is the first inclination that you are ready to jump into entrepreneurship. At the workplace, some people are challenged by the day-to-day activities and task set by them by their superiors. However, there are few where they feel drained, overworked, and undervalued. While the lack of recognition is not the reason why you should leave your stable lifestyle, the passion and desire to do something great should be the game changer for you to leave your setting. Think about Mark Zuckerberg who left his undergraduate program at Harvard University because he felt that his time, skills, and ideas were needed for Facebook. If you believe your potential can be maximized without the workload of your office, try and consider the alternative of leaving and starting your business. This reflection and mentality could be the main reason why you should make this professional switch now rather than later.
Now, for many people, they believe that they should leave their company and start their own business because they have hit the glass ceiling, meaning they have accomplished all that they can at their place of business. While hitting that proverbial glass ceiling at your company does require change, I would not advise for you to jump into the entrepreneurial sector. To be an entrepreneur, you need to have tangible and innovative ideas that drive you each and every way. Just hitting the bar of growth is a push, but not a big enough push for you to walk away from your company. Instead, reflect at what you want to do and what you want to accomplish. If you see yourself creating new and innovative products or services for a market, then you are one step closer to being an entrepreneur. If, however, you feel like you have reached the top of the mountain at your company, try looking at other industries instead of entrepreneurship. Entrepreneurship requires you to have ideas before being a boss. It looks for you to create longer lasting change, and of course, financial success for whatever you bring to the table. If you do not have that idea, don’t quit your day job. Make sure you think and reflect on what you want to do before making that commitment into the deep end.