Fact: Most new businesses fail. If you do not take the leap, changing from an employee to an entrepreneur at the correct time, there is a pretty good possibility that you will be included in the failed section of stats.
We have to understand that being an entrepreneur is not as glamorous as many might believe at first glance. In fact, entrepreneurs tend to work more than regular employees, especially in the beginning. If you really want to be an entrepreneur, here are some things that you have to consider:
Changes Will Happen!
You have to be ready to embrace changes. Starting a company basically means modifying almost everything in your life. You have to adapt and you need to realize that you cannot start something huge like high quality wholesale diamonds in a couple of days. You have to start small, unless you have the available budget and experience. No matter the business, your life will change.
Your Commitment Will Impact Success Or Failure!
There are many entrepreneurs that believe others will share their vision. They have the passion and expect everyone to be passionate. That is not the case. In fact, the feelings you had when you were an employee will be the same ones your employees will have.
When you are employed, commitment is all about doing the work you have to do until you manage to land a better job. You can simply resign if you do not like it. With your company, you cannot quit. You will go through tough times in the beginning. Those that are not capable of committing will eventually fail.
Be honest with yourself. If you cannot fully commit to your business, you may want to keep the security associated with doing work for another person.
Responsibility Is Higher
As an employee, your responsibility is limited. As a company owner, you are responsible for absolutely everything, from planning employee benefit programs to testing products.. Your most important responsibility is that of having a suitable payroll system installed. You have to pay others. When working for others, they need to pay you.
Your Schedule Is Really Important
As an entrepreneur, the most valuable resource you have access to is time. Time becomes vital. Managers are pulled in so many directions and they need to be really good at time management or delegation. You need to practice time management and if you feel you are not good at it, maybe you want to postpone opening your company.
Keep in mind that you will also need to find the time to analyze all the work that was done. It is quite often to notice that entrepreneurs do not have free time in their schedule. That is bad and it is even worse when there is no time available to think about the work that was done and the direction in which the company is going.
On the whole, responsibility stands out as the most important fact that you have to analyze. Before you leave your job and you start work as an entrepreneur, you have to be responsible and be 100% sure that you know what you are doing. Also, you have to be aware of whether or not you can live up to the challenges ahead of you.