Know you’re ready: the small business owner checklist

| November 3, 2015

Know you’re ready: the small business owner checklist

Moving towards being an entrepreneur can be a big step. You’re leaving behind something you’ve known for a long time and have given you financial stability and moving towards something new and different

So how do you know if you have it in you to brave these unchartered waters?

Know you're ready: the small business owner checklist

[  ] You know what you’re stepping into

It is vital that you don’t take a step towards owning a small business without knowing what you’re getting into. However, if you’re aware of just how much commitment it would take; how much time, effort and money will need to be invested in it, then you’re prepared to be an entrepreneur. Get ready to step into the new venture with both eyes open.

[  ] You’ve done your research

Another sign that shows you’re ready to become an entrepreneur is when you’ve researched the topic to death. If you’re read every start-up help blog out there, stayed aware watching webinars and soliciting advice, you’re serious about it. You don’t want to take the wrong step and ruin your chances from the get-go. Not only have your researched on how to start a business, you have researched about your product as well.

[  ] You’re aware of the market

This connects to the previous point. You are aware that there’s a good, viable market for the products or services that you’re planning to offer. You’ve researched your niche and know that your idea is sound and might earn you success if you handle it properly. You’re also aware that your timing is right and there’s a demand for what you’re about to offer. If this is true, you’re definitely ready to be an entrepreneur.

[  ] Your friends and family believe in you

Your closest relationships are the ones who would give you the bluntest advice. If all of them are supportive and believe in you, it means that they feel you’ll be successful as well. Not only would you have their confidence, but you will also have their support. The first few months, even years, of establishing a business can be hectic and stressful, so the support of your friends and family are invaluable during this period.

[  ] You’ve got the rebel in you

If you find that the idea of being a cog in corporate machinery restraining, and that it doesn’t give you the right sense of security, then entrepreneurship might just be your calling.

[  ] You know you’ll need help

You’re aware from the beginning that you might need help starting your own venture as well as running it. You acknowledge that there might be things you’re good at and tasks you just can’t accomplish. If all that says you, then don’t let anything stop you from starting a small business and flying solo.