02 Feb 6 Ways to Tell if a Startup is for You
6 Ways to Find the Right Startup!
According to recent studies, over half of Americans would like to be entrepreneurs, but in reality, most people can’t handle the responsibilities of a startup business. Obviously, starting a business has its upsides. Some of the benefits include limitless income potential and unmatched schedule flexibility. Let’s not forget the empowering feeling that you get to experience when you’re the head honcho, or the person who’s calling the shots.
Trends show that more people are trying to create a startup and dive into the world of entrepreneurship. The problem is that creating and running a startup can be tough at times. Finding a startup office space, developing a business plan, and funding your startup – these are just a few of the things needed to get you started. Fortunately, the idea isn’t all doom and gloom, and there are at least six ways to tell if a startup business is right for you.
1. You’re Always Open to Learning New Ideas
Maybe you’re in your twenties, graduated with an Ivy League degree, worked at your current occupation for two years and believe you could run the entire company better than anyone else. You might even be in your 50s and hold the belief that you’ve been working with nothing but morons for the duration of your life.
There is also a good chance that you almost always feel like you’re the smartest person in the room. However, the reality is that you’re probably not the smartest person, and it’s this type of thinking that will run your new startup straight into the ground.
Once you begin to think you’re better than everyone else at everything, you’ve already lost the war of entrepreneurship. If a startup business is right for you, then you should always be willing to learn new things and figure out how to source the best talent for your business.
2. You Can Deal With Uncertainty
When you create a business, you’re taking a risk. The size of the business doesn’t matter. There will always be a certain level of risk involved. It’s one thing to go from employee to business owner, but you also have to plan on staying in business, and like a good game of Frogger, there is plenty of uncertainty to go along with the leap.
Many entrepreneurs cannot handle the uncertainty that comes along with taking the plunge and creating their first startup. The reality is that the risk never goes away. Every single day, it lingers in the back of your head and can lead to some nasty thoughts involving self-doubt. There also never seems to be any shortage of things to worry about.
Many entrepreneurs worry that their product won’t sell while others are scared that customers won’t visit their store. For most people, the biggest worry is revenue and whether or not they can generate enough of it. If you have the ability to tolerate never-ending uncertainty, then a startup business could be right for you.
3. You Know How to Handle Setbacks
On the road of entrepreneurship, you’ll sustain countless setbacks, but you’ll always endure failure on the road to success. If you’ve frequently received financial help from your parents or rarely suffered occupational adversities, then you might not have developed the thick skin that is needed to handle a startup.
It takes a certain level of mental toughness to succeed in the world of entrepreneurship, and you need this toughness to successfully run your business. Rejection and setbacks are regular parts of starting and running a business, and if you don’t have the thick skin to handle these challenges, then you’re probably not ready to start a business.
4. You Don’t Cling To Outdated Thinking
A lot of people fail at starting a business because they cling to outdated thinking. You can’t live in the past and expect to be able to start a business and adapt to the future. One of the biggest hurdles of entrepreneurship is anticipating and adapting to the latest trends.
A great example is the endless list of stores that have went under because they didn’t anticipate the change that the Internet would unleash into the market. You can’t suffer from limited beliefs and expect to run a successful business.
5. You Make More Plans than Excuses
If a startup is a good idea for you, then you’re the type of person who makes more plans than excuses. People who aren’t cut out for entrepreneurship find themselves constantly coming up with reasons why they can’t start a business and find an adequate startup office space.
Some people might use the excuse of being older while others think they’re not smart enough to create a successful business. The reality is that these are all misconceptions and myths. There are plenty of examples of wealthy business owners who started from nothing and didn’t even get a high school diploma.
People who always feel like they’re victims are rarely a good fit for starting a business. There are countless examples that demonstrate just how unfair life can be, but they shouldn’t stop you from creating a business and following your dreams. If you make more plans than excuses in life, then you could be a great fit for entrepreneurship.
6. You know what you’re worth
If you don’t know your true value, then entrepreneurship will only magnify the issue. A lot of entrepreneurs don’t know how much they’re worth, so they never charge what they’re worth. In some cases, an entrepreneur might even work for free, and there are some situations where there is nothing wrong with working for free. However, a lot of entrepreneurs give away too much of their time, which can quickly kill a business.
If you’re going to succeed with a startup, you have to know your true value. If you truly know what you’re worth, and you’re not afraid to charge for what you have to offer, then entrepreneurship is knocking at your door.
These are six simple ways to tell if a startup business is right for you. You don’t have to meet all of the criteria, but for the best chance at success, it’s ideal if most of these assumptions accurately describe you. Once you decide to take the plunge, you might want to find an affordable startup office space and get the ball rolling. After you reach the top, you’ll find out exactly how rewarding entrepreneurship can be for everyone involved.