4 Questions to Ask Yourself When Starting a Career in Entrepreneurship
Maybe you’ve been dreaming of a career in entrepreneurship for a while, or maybe you stumbled upon the opportunity. Either way, everyone is bound to make mistakes in the beginning. You’ll hire the wrong person. Promote something that inevitably flops. And maybe even wonder why you ever left your 9-5. I’m pretty sure questioning yourself is part of being an entrepreneur.
By the way, none of that is meant to be discouraging. In fact, I think working for yourself can be one of the most rewarding careers out there, but it’s far from the easiest. As you dive into a career in entrepreneurship, take a moment to reflect on these questions, so you can avoid some of the common mistakes and pitfalls other entrepreneurs make.
#1 How Will You Prepare for the Ebbs and Flows?
Unlike a typical 9-5, income isn’t predictable as a small business owner. Some months you’ll be floating in cash, and others will feel bone dry. An essential question every entrepreneur needs to answer is how you will handle these ups and downs.
For me personally, this meant having a lot of savings. Before I ever quit my full-time job, I worked late nights and on the weekends to build my business. I rarely touched this money, so when I did go full-time with my business, I had something to fall back on. You can also set aside money each month into a rainy day fund.
#2 Who Will You Hire to Make Your Business Better?
Another question entrepreneurs should ask themselves is what they will handle and what they will delegate. A common mistake I see people make when starting a career in entrepreneurship is trying to do it all. And I get it.
You want to save money, and you aren’t sure who you can trust. But not every hire needs to be expensive or long-term. Sometimes, it always helps your business to hire an expert instead of DIYing it. For example, you might hire someone to set up your systems so that you can respond to inquiries more quickly. Or you could hire someone to set up your e-commerce platform on your website, so you can make more sales without lifting a finger.
#3 How Will You Connect with Other Entrepreneurs?
If you’re like me, one advantage of the #smallbizlife is being able to enjoy some peace and quiet. It can be tempting to sit at your desk all day and keep to yourself. But just like you needed co-workers at your 9-5 to vent to, you also need to connect with other entrepreneurs who get it.
I recommend joining masterminds, Facebook groups, local networking groups, and more where you can connect with other entrepreneurs. These people will help you realize you're not alone, especially when you start questioning your career in entrepreneurship.
#4 How Will You Make Entrepreneurship Work for You?
There are a million people who will happily tell you exactly how you should live your best entrepreneurship life. They will tell you what kind of schedule you should have, how much you should be making, and how to market yourself. But girl, only you know what works best for you.
When starting your career in entrepreneurship, be open to listening to others and open to change. Maybe you get up at 7am every day, only to learn your best work is done after 3pm. You have to play around with things before you get it nailed down.
Also, remember that every season brings new challenges. As your life changes, so will your routines.
Having a career in entrepreneurship can be really rewarding. You’ll realize just how strong, smart, and passionate you are. But it doesn’t mean you’ll nail it all. You’ll question if entrepreneurship is right for you or if you have what it takes. As long as you're willing to keep trying, your business will get you right where you want to be.
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