Signs That It’s Time to Start a Business
Are you frustrated in your current job / career and unsure of what steps to take to improve your situation?
Have you always had a passion for doing something of your own, but unsure of how to integrate it into your life / career journey?
I’ve had similar thoughts at different points in my career. I’ve been pretty happy with my career so far, but I’ve had moments that weren’t so fulfilling. I realized nearly 10 years ago that it was time for me to start my own business and it continues to evolve.
It was a way of me taking control of my career and putting my work into something I really loved. Something I could control. There are going to be moments in your career that you don’t like and you have control to take action and make it better. I honestly couldn’t be happier integrating my own business into my career and being open to what’s next.
What about you?
Where are you in your career journey? Do you believe it’s time to start something of your own? The truth is, millions of people are taking the plunge and starting their own businesses.
Here are some steps to consider as you contemplate the idea.
1. Find Your Passion
To make it as an entrepreneur you must be driven by passion. Something within, that drives you. If money is your main driver, it won’t likely be enough to keep you going, especially during the difficult times. There will be challenges along the way and knowing your “why” will help you to press forward. Take a moment to answer the following questions to help you get clear on your passion. This is the beginning of starting your business idea.
⦁ What are you passionate about? What do you do for others that doesn’t feel like work?
⦁ What gets you excited or causes you to “come alive?”
⦁ What do you say you will do “someday?” What are you putting off?
⦁ At what point in your life were you happiest? What were you doing? Who were you with?
⦁ What or who inspires you? Why?
⦁ What are your gifts and talents?
⦁ What do others say you are very good at?
⦁ What comes easy for you that isn’t so easy for others?
⦁ What do people usually ask your help for?
⦁ What is your life’s mission?
⦁ How do you use your values, passions, and talents to help others? Why are you here?
Listen to my latest podcast about finding your purpose in your career. There are tips shared that can help you find passion and purpose in your career.
2. Determine How Your Passion Can Solve a Problem
After getting clear about your passions, think about how your passion can help others to solve a problem or frustration. For example, Amazon makes it convenient to shop for just about anything in the comfort of your own home and get it quickly. Hair products help people maintain their hair and keep it healthy between salon visits. Airlines help people get to their destination quickly. There are a host of problems to solve in the market.
As mentioned in step one, think about ways people ask you for help? What problems do you solve for those around you? You can help to solve problems not only for your friends and family but for the market by turning your passion into a profitable business.
Think about what frustrates you. What have you searched for in a product or service and couldn’t find. What can you offer to help to solve the problem(s)? Listen to the complaints of your friends and family as well. There are business opportunities all around you. Pay attention, ask questions and listen – finding a way to make people’s lives easier with your future business product or service.
3. Do Your Research
Once you have found a business idea that can help solve problems in the market, the next step is to do your research. See if there are other similar businesses that solve a similar problem. If there is competition, this validates there is a need in the market. If there aren’t other similar businesses, determine if there are people who have the problem your business idea can solve. Determine if people are willing to pay money to solve the problem. You can start by asking people who have the problem you identified, determining if your business idea can thrive.
4. Take Action – Work Hard
While millions of people are taking the plunge and starting their own businesses, over half fail within the first 5 years. Successful entrepreneurs start with the right mindset by taking action and creating their own opportunities – not waiting for opportunities to come to them. If you are contemplating starting your own business, you should start with being ready to learn, grow, take risks and make mistakes until you learn what works for your business. Take action everyday and work hard to make your business come to fruition.
These are starter steps to consider as you contemplate starting your own business.
Angela Spears is a Certified Career & Executive Coach through Coachville and the International Coaching Federation. She has helped many clients figure out their big business idea and launch a successful business. As the owner of Dream Living, her mission to help her clients achieve phenomenal results in their Life, Career and Business. To explore how Angela can help you take charge of your career and start a business, schedule a free 30-minute initial consultation by clicking the button below.
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