Are you sitting at home, fantasizing about starting your own business? If so, you’ve found the right article.
You’re probably already aware that starting a company can be a daunting task, requiring a lot of blood, sweat, and tears. And yet you still contemplate the idea day after day. Perhaps you’re dissatisfied with your current job. Maybe you’ve always wanted the opportunity to go it alone with your own shop or consultancy. Or perhaps you just want to shake your life up and live outside of your comfort zone for a while.
Never mind the exact reasons, here are 50 signs that tell you it’s time to take the plunge with setting up your own business.
1. That Eureka moment.
Recently, many people have been arguing over whether nature or nurture creates the successful entrepreneur. Regardless of your view, maybe you’ve spotted some classic entrepreneurial characteristics in yourself. Might this be a signal that you’re ready for the challenge of starting a business?
You may not have been born with entrepreneurial qualities. Between you and me, nobody is a born entrepreneur. But it’s quite possible that you have developed some of these traits over your lifetime. When you start to notice the telltale signals, it’s a surefire sign that you’re ready to start running your own business.
2. You always have good ideas.
Entrepreneurs are always thinking and strategizing. It can feel like a curse, but really it’s a blessing. If you spot this symptom in yourself, it might be time to leave the rat race behind and put those great ideas into action. And there’s no better way than launching your own business. If you are struggling with coming up with a business idea, check out our article “12 Strategies to Come up With a Million Dollar Business Idea“.
3. You care deeply about what you do.
Perhaps there’s one business idea that you just can’t let go of. Maybe there is a way to transform it from possibility to reality. Entrepreneurs and business owners care deeply about what they provide and move mountains to bring their products and services to the world.
4. You’re full of energy for the cause.
You require nothing or nobody to get you out of bed in the morning. You have the motivation to get on and do whatever’s required. It’s this kind of energy that could create the drive to start and execute a successful business strategy.
5. You’re highly organized.
Operating a successful business needs excellent organizational ability. Over the lifetime of your business you will likely need to hire experts like lawyers or accountants, but to start off you’re going to need to manage finances on your own, delegate tasks and pitch to investors if you need funding. A lack of organization could be fatal to your business success.
6. You’re self-reliant.
This doesn’t mean that you have no social skills and you don’t understand when it’s time to seek assistance. It means that, in general, you try to solve problems on your own. Maybe you’ve recently realized that you are self-reliant enough to go into business on your own.
7. You’re motivated to help others.
If you feel passionate about helping others with a product or service, this is a giveaway sign that you’re ready to run a business. When I started my web design business I already had many people ask to help with their website. It was only a matter of time before I saw the writing on the wall and started my own web design business.
A passion and belief in what you do can keep you going when your business experiences setbacks. I’ve witnessed over time how the most successful companies develop from a desire to help solve a common problem.
8. You feel trapped in your job.
If you loathe getting out of bed in the morning then you are probably not satisfied with your current position. Getting promoted or taking a different job might temporarily appease you, but working the rest of your life in a typical 9-to-5 just isn’t going to cut it. Decide whether now is the time to seek fresh pastures and head out into your own business freedom.
9. You know you can do it better.
Whether it’s confidence or egotism, you have a firm belief that you can provide a product or service better than anyone else out there. Have you ever bought a product thinking that you could make something better? Have you ever used a service and you thought to yourself that you could do a better job?
10. You want to make it big.
Some of history’s greatest entrepreneurs discovered that they required more from life. Great business leaders often have an unshakeable belief they are special. If this applies to you, maybe you’re on the way to something remarkable.
11. You want to be your own boss.
Either because you can’t stand taking orders, or just like to be in complete control, you have figured out that you need to be the one in command.
12. You’re driven by your vision.
Everyone keeps on telling you that your idea can’t be achieved. How do you respond? Perhaps this adversity is enough to get your engines fired and prove the doubters wrong.
Dean Kamen, the inventor of the Segway, once said that he is not interested in new ideas unless most people tell him that it is impossible to achieve.
13. There is a lack of employment in your sector.
The economy hasn’t moved out of the doldrums and nobody’s hiring in your sector. Rather than just sitting on your thumbs or taking a job you’re overqualified for, you begin to entertain the idea of launching your own venture.
14. Independent worker numbers are rising.
According to the Harvard Business Review, via MBO Partners, independent worker numbers (business owners, contractors or freelancers) is growing sharply. By 2017, the number of these workers is predicted to increase by about 33% from the 2013 total of 17 million. Other bodies have estimated that the number of independent workers will grow to 40 percent of the U.S workforce by 2020
15. You loathe commuting.
Finding yourself trapped in a sea of smog every morning can be a really miserable experience. Maybe now is the right time to start your own home business. Some successful businesses were started from nothing in an emptied out garage.
16. You’re not tied down.
If you haven’t started a family yet, you will have less financial responsibilities to weigh you down. Use this opportunity to your best advantage, as this is when you can afford to take a few risks.
17. You enjoy the unpredictable.
Living amidst uncertainty is what you thrive on. So, setting up your own company might be the kind of challenge you crave. It’s certainly better than staying stuck in that dead end job you’ve wanted out of for years.
18. You can handle hard work.
If you have the energy to work 12-hour days, a few times a week (as is often the case when launching a new company), then why put that work into someone else’s project? After all, it’s easier to sweat blood and guts when you’re the one who will gain the lion’s share of the reward
19. You can spot potential.
Wherever you go and whatever you do, you always notice how things can be improved. You realize that starting your own business could be your ticket to turning that potential into reality.
20. Contractors are getting more projects.
If your employer is outsourcing projects and you think you can do a better job, take action and have a go at offering your services independently.
21. You can’t stand being bossed around.
If you hate being ordered around and detest your boss, start creating a future where the only boss you have is you.
22. You’re a great team-builder.
Perhaps you think you can construct your own team from people who see the future like you do and are committed to helping you realize it.
23. You want to be a job creator.
Maybe you’ve seen talented colleagues lose their jobs during the difficult economic times. If you can make use of their gifts, you can do yourselves both a favor by employing them in your own startup.
24. You have no choice.
Although setting up a new business shouldn’t be done for financial reasons alone, sometimes it’s a matter of necessity. The bills need paying and there are mouths to feed. When it’s ‘sink or swim’ time, it’s the right moment to dig deep for extra resources and push ahead with your ideas full steam.
25. You have great ideas.
Perhaps your creativity is going to waste in your current employment. Take this as a sign that you’re ready to take the leap and unleash your creative power by starting the company of your dreams.
26. You want control of your own working hours.
If you’re most productive at nighttime and do your best work when others are sleeping, being your own boss will give you full control to set the schedule that’s right for you.
27. You have a passion for creating a product or service the market doesn’t provide.
You seek solutions to problems. You’ve had your eureka moment when you realized that a specific product or service isn’t currently available. Use the power of your revelation to motivate you into bringing your idea to life.
28. You detest your office.
You get claustrophobic in your current place of work. Free yourself to work where and when you want by setting up your own business.
29. You want to create a legacy.
You have children and want to make sure they’re well provided for in the future. They might not want to continue running the family business, but they’ll get a daily reminder of the fruits of your labor.
30. You live to inspire.
Do you pick others back up again when they fall into a slump? Do you thrive on the ability to enthuse and inspire? As a business owner, you could be the inspiration for the team that you work with.
31. You want to try something different.
Perhaps you feel stifled in your current job and find your job has become boring. That can be a nightmare if you’re someone who likes to challenge yourself. By starting your own business, you’ll be creating the kind of challenge that you really thrive on.
32. You’re not afraid to get hands dirty.
As a start-up founder you’ll certainly have to do a lot of the “heavy lifting”, and it’s unlikely to be rewarding work. But if you can deal with that, you’ll be repaid knowing that your hard work was for you and nobody else.
33. You want to broaden your skills and gain new knowledge.
Some folks simply have an insatiable appetite for acquiring skills and knowledge. You’re unlikely to gain these by staying in your dead-end job. However, it’s a real possibility as a business owner.
34. You’re a great problem solver.
Business is finding a problem to solve that customers are willing to pay for. When problems come up do you sit back and let others assume the responsibility? Or are you the type of person who not only fixes things but makes them better than they were before? If you’re one who likes to rise to the challenge, this is a sign you’re ready to launch that startup.
35. You’re not fazed by failure.
When you start your own business, you’re likely to experience failure at some point. If you aren’t reduced to a whimpering mess in the face of such adversity, you know you’ve got the right mindset to go into business.
When you start a business it is not “if” you will fail, but how often and how big?
36. You can multitask comfortably.
Some people can deal with keeping several different plates spinning at the same time. If multitasking doesn’t cause you to buckle under the pressure, then you’re on the right track.
37. There’s a niche in the market.
If you realize that no one else is providing the products or service you want to offer, then maybe it’s time to step in and fill the void. There are many underserved niches. Great entrepreneurs are experts at finding such underserved niches.
38. You have responsibility for your job security.
One of the biggest disadvantages to working for someone else is the possibility of losing your job, or the company being bought. Managing your job security is a lot easier when you work for yourself.
39. You realize it’s now or never.
Procrastination is a sure-fire way of making sure your business dreams never become reality. Rather than dragging your heels in the sand, put your business plan into action, and right away.
40. You know skilled people.
As a college graduate or as part of a great work team, you’ve observed ultra talented people, whose gifts are going to waste. By offering attractive terms like profit sharing, equity share, a great working environment and the prospect of advancement, you may be able to harness this talent pool as part of your own business.
41. You’ll see the fruits of your labor.
As an employee, it’s often hard to see the ways in which your hard work benefits your employer. Managing your own business will bring you into direct contact with all the results of your hard work.
42. You see the tax advantages.
When I was still an employee I have asked a tax attorney about the best way reduce my taxes. He told me the best way to reduce your taxes is by starting your own business. He said that this country (USA) was founded by entrepreneurs and the tax system reflects that.
You’ve realized that small business owners often get favorable tax breaks. Now’s the time to take advantage of these incentives and get the ball rolling with your business. Perhaps you could even put a new smartphone or laptop down amongst your legitimate expenses.
43. You feel like you’re stuck in a rut.
It’s common to feel dissatisfied with your current employment as well as your home life. Perhaps you keep losing out on that promotion or you feel like you’ve nowhere to go. This could be the time to get out there on your own. At the very least, setting up your own business will provide you with a fantastic sense of achievement.
44. You’re a “people person”.
Maybe you don’t get a chance to network in your current employment. If you enjoy making new connections with others, then running your own business is going to provide you with plenty of reasons for some additional networking.
45. You’re a risk taker.
Most people like to play the safe game. But you seek adventure and thrills. There is nothing more exhilarating than thinking of a business idea and bringing it to the market, despite the uncertain waters you face on your voyage.
46. You’re a natural leader.
You might have a fantastic idea. But the ability to get others to share your vision and persuade them to help you see it through is a whole different ball game. If you can inspire and motivate those around you with your great leadership, then it’s time to press ahead with founding your own startup.
47. Entrepreneurs thrive on the many options for business tools and advice.
You’ve realized that there is a huge quantity of online resources that can you help a startup venture become established. That’s before you’ve even considered the great credit rates currently available.
48. You’re ready to fly the nest.
That idea has been bugging you for a while. Now is the time to set it free? Once you establish your new independence, you’ll realize it’s the best choice you ever made.
49. You’re street smart.
Every so often you come across people who combine professional quality with street smarts. If this is you, now is the time to use this gift to help put your business on the map.
50. You’ve always longed to do something you love.
Marc Anthony and countless other successful business founders said, “If you do what you love, you’ll never work a day in your life “ Why not give up just thinking about doing something you truly care about, take the plunge and turn your vision into a reality? Have the courage to follow your dreams and the rest may just fall into place naturally.