3 Questions to ask yourself if you are 1st time Entrepreneur

Few decades back the most popular words were “MBA”, “Engineer”, “Doctor”, “Govt. Service” and few more.

In the recent times it has taken an entirely new shape and the words that dominate and attract are “Entrepreneurs“, “Businessman”, “Businesswoman”, “Business Tycoons”.

How did this shift happen?

Let’s see a quick context before getting to the main 3 things that you must never forget!

People have been stressed and frustrated since a long time, no doubt about that. But in recent few years there has been a major shift in understanding, knowing and finding the solutions to problems.

We have started realizing that

• Only degree is not giving us the life we want
• With only academic education no one learnt how to earn money in various ways
• With the changing times, there are changing demands which were not met with the existing solutions
• With the advancement in technology, people who are not upgrading themselves in terms of their growth, it is becoming more difficult for them

…and lots more

Who are Entrepreneurs exactly?

This is important to understand at the beginning because, there are a majority of the people who think that Entrepreneurs are businessmen who make money.

Whereas – the real meaning of an Entrepreneur is someone who solves a problem.

This solution helps the society/world in some way or the other and they generate and earn money.

The more and bigger problems Entrepreneurs solve, the more they get paid.

Now, the question is – what problem you want to solve?

So here are the 3 main questions you must ask yourself if you are a first time Entrepreneur (or are thinking to become one)

1. Why do you want to become an Entrepreneur?

This question is the most crucial and important one. Why? Because if you are thinking to become one just because your friend or your neighbour’s son is an Entrepreneur and it looks sexy to you, then you are signing up for the doom’s day!

Knowing exactly why you want to shift career and become an Entrepreneur is to know – what problem you want to solve? Why do you want to solve it? And What is your purpose in life?

2. Do you have the appetite and attitude for what you are signing up for?

If you think it’s all roses and lilies – you are dead. Ask yourself and know it for sure that –

• Do you have risk-taking ability?
• Can you get up and move forward even if you have lots of failures and setbacks?
• Can you take extreme ownership, not blame the entire world and do what is needed to be done without wasting time?
• How well can you handle and channelize your stress, anger and frustration?
• How good are you with people? (It doesn’t matter whether you an an introvert or an extrovert)

When you genuinely have the answers to these questions, you will realize whether Entrepreneurship is for you or not.

3. How long and how far are you ready to push yourself on this path?

Unlike job, there’s no time limit when you will hit that mark where you can actually say “Yes! I’ve done it”.

For example, Amazon for around 20 years did not have profit. Whatever money they have, they put it back in the business in very simple terms for you to understand.

Now the thing is are you ready to go far and beyond and do whatever it takes to reach where you want to reach?

So be clear on this aspect at the beginning so that you don’t start cursing yourself and others around you and start blaming everything on luck!

Remember – Entrepreneurs create luck for themselves and others!

So, are you ready to take the plunge and start on this journey?