It is common to hear success stories of entrepreneurs becoming millionaires overnight. But what people don’t tell you is the tireless nights, multiple failures and huge risks they took.
It is very rare to find successful entrepreneurs who suddenly decided to quit their job and start a business next day. Working for yourself requires a significant change in mindset from working as an employee to working as an entrepreneur.
Speaking honestly there are lots of hurdles in starting a successful business. So it is better to prepare about the things than to get stuck and then start finding solutions.
Obviously you can’t plan everything, but you must consider a few points-
- Have you ever tested your business idea on real ground (on even small scale) ?
- Are you prepared financially to carry on your operations for the next 6 months or a year without revenue?
- What parameters will decide the success of your business?
- Do you have a plan to unfold your business in phases?
- What happens if the thinks are not working as expected and when to exit?
So when is the best time to start a business?
Starting a business is like having a kid. It never feels like the right time to do it. So you will have to start the things on the ground and then improve it based on the basis of feedback from the customers.
Take the hybrid path
You can start your business while still working as a full-time employee. Even research has shown that people starting business while keeping their day jobs are more successful.
Retaining your daily job helps you start the things on better financial grounds. Building slowly and steadily is often the wisest course of action.
Get used to being uncomfortable
Forget the dreamy life of entrepreneurs you have heard, at least while starting a business. You must be ready to face many difficult things because you can’t plan everything in today’s rapidly changing world.
There is never the best time to start a business. It is always a risky path. But you must know what you going to do and what things you should be prepared for.
Many people are highly qualified and think of starting a business, but they never get that perfect time to start. So even if you fail, you will learn many things that no book would teach!