Ready for entrepreneurship? How is it that some people go on to become entrepreneurs while others find their path in the rank and file of companies? Truth is, you are either wired for it or not. So if you are debating whether you are ready, here are five signs that you might want to quit your day job and put your startup dreams to action.
1. You have the passion
Passion is often overhyped. It’s not enough on it’s own, but it is essential. Make sure you have something you’re excited about starting, rather than just frustration with your current job.
2. You have a support system
If you have some cash saved up or have another way to access the money you need while your company grows, you’re more ready than somebody who’s deeply in debt and counting shillings.
3. You have a plan
Before you leave your day job, make sure you have a plan for your new business — whether that involves a full business plan or a back-of-the napkin outline.
4. You have a product or service with a good market.
A great business exists where what you love meets what other people will pay for. Before you leave your day job to start a new company, be sure that your product or service has a market.
5. You are not afraid of taking a risk
One reason people never actually become an entrepreneur is because of the financial risk involved. While there is risk, how well you’ve planned to address it can be the difference between success and failure.