You might feel it in your bones that you’re ready to start a business. But, does your financial backing say the same? Can you face the harsh setbacks a start-up inevitably undergoes in order to achieve success? Before starting a business, you must be operating at a fully functional level, both physically and mentally. First and foremost, as the age-old maxim goes, health is wealth- you must be physically and mentally in shape to undertake a new operation. You must have a strong belief that the business you are undertaking is more valuable than the million dollar job offer waiting on your doorstep.

Today, we will look for tell-tale signs that will help you know if you’re ready to plunge into the cut-throat competition of business. If you don’t have the answers to the questions posed below, it is, perhaps, in everyone’s best interest, especially your family’s, that you stayed as far away as possible from operating a business.

  • Are you no longer feeling fulfilled with your 9 to 5 job? Do you crave for unlimited career growth and the opportunity to make all business decisions?
  • So, you have not been getting plaudits for your exemplary work in the office. Well, you won’t be getting any pat in the back when you start your own business. Are you still willing to work harder than you’ve ever done before?
  • Do you have the complete support of your family? Do you have a special someone who believes in your dreams and aspirations? It is important for you to have an emotional support system.
  • Do you have a business network that is large and active?
  • Do you have several years of backup savings to help you maintain the smooth operation of your business? You must be able to fund the venture for a minimum of two years. Insufficient cash can play an atrocious role in shutting your business down.
  • Will you be facing large debts to get your business running? If so, what makes you think that it is smart to go into debt to start a new business?
  • Are you ready to lose all the money you have put into your new business? The chances of you losing money on your start-up are astonishingly high. So, if you aren’t ready to accept such kind of losses, you shouldn’t be starting a business. You cannot start a business if you are afraid of failure and you shouldn’t be expecting a paycheck for at least a couple of years.

If you have the solutions to the aforementioned concerns, you are ready to start a business. You are ready to start your own business when you don’t need to ask for advice from anyone. If you are in a position where you can’t come up with reasons to not do it, then it is time for you to start your operation. You must make an instinctive decision. There is no need to procrastinate and delay the inevitable because there isn’t a right time to launch a new business. The business need not be the largest around. A small business will likely be the safer option as it can provide limited financial damage if it fails. Nevertheless, if you are hell bent on starting a business with raging passion, how can we stop you? All we can offer you with is good luck. You will need it!





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