Do you have what it takes to make it as an entrepreneur? Ask yourself these 10 questions.
Younger generations are increasingly looking for meaning in their work. Aside from a promising big exit at the end of the road, entrepreneurship is attracting young talent in search of purpose and fulfillment. These young leaders want to become independent but also want to have a positive impact on society. Although they have a vision and a goal to bring innovation and change, creating a business is not a walk in the park. It requires a lot of preparation. Try answering the 10 questions below before starting your entrepreneurial journey:
1. Why do you want to start your own business?
Entrepreneurship is over-glorified and misrepresented on social media. In reality, it is about building a business that solves a problem for a consumer. It’s not about driving nice cars or posting nice pictures on social media. In fact, real entrepreneurship looks quite contrary to what we see on social media.
Do we require a certain level of luck, genetics and an environment around us to be an entrepreneur? Yes — somewhat, for sure. But also, anyone can solve problems anywhere in the world. That is true for both small problems and big problems. The choice comes in the decision to find people who have needs, wants and issues that you can offer a solution for.
It is also a choice that each of us gets to make on how well we wish to solve that issue — how obsessed we are willing to become with that solution and how above and beyond we are willing to go with servicing the customers well.
2. What is the problem that particularly affects you?
If you want to have a viable business, it is important to have a clear mission. Given the purpose of your project, you will have to learn about the real needs of your territory. Start by doing market research to understand what people face daily and expect as solutions.
Beyond the business solution also comes the personal and emotional responsibility — shaping and growing ourselves to be able to handle and maneuver through constant stress and difficulties. That means developing personal awareness to see our shortcomings and making up for those with intelligent business decisions. It means balancing planning and strategizing with actual, excellent execution.
3. What do you want to achieve?
Describe your ideal project. Imagine your project in the way that it could fully blossom, ignoring the current constraints. Through this exercise, project yourself one year from now and then two to three years from now. Identify as precisely as possible what you would like to achieve through the realization of this project. Even if you are in the early stages of creation, it is very important to reflect on your vision, your mission and your goals.
4. Do you have the skills to implement your project?
Let’s face it, you can’t make an impact on the world with beautiful values alone. Daring to go through this path means changing your way of life, sometimes in a radical way. It is essential to identify your strengths and talents. These are the skills you have at your disposal.