There is no such thing as “perfect” time to start a business. Any time could be the “best” time. The “needs” and “wants” in this world never sleep nor take a holiday. Therefore, to ask the question of “when to start a business” is irrelevant. The opportunity to meet the needs and aspirations of the people is right before us. However, there are preliminary points to consider before “jumping” right away.
Decision Making
Many of us still struggle when it comes to personal decision-making. To be an entrepreneur, you need to learn the art of making decisions. At first, it does not matter whether you make good or bad decisions. Along the way, all of our decisions (good or bad) can become “educational” learning experiences. As human beings, we were created and given the ability to make choices.
Ability to Relate with People
Do you have a strong people skill? Business persons are surrounded by different kinds of people. They are the customers, clients, suppliers, vendors, and employees. We can also include critics and competitors. In a macro business level, one is also dealing with investors, the board of directors, and shareholders. In fact, the reason why we do business is meeting people’s needs. We should not forget the fact that the ability to relate with people contributes a certain degree to our success as entrepreneurs.
Flexibility to Changing Circumstances
One of the characteristics of an entrepreneur is the ability to adapt himself to different circumstances. Starting a business is never easy. You should be flexible even when situations are not in line according to plan.
Ability to Think Ahead
Perhaps you are familiar with this classic quote, “if you fail to plan, you are planning to fail.” Whether how small or big the enterprise is, the ability to plan and think ahead is a crucial part of a business journey. Peter Drucker once said, “The best way to see the future is to create it.” An entrepreneur must learn to see clearly what lies ahead.
Risk Taking
One of the reasons why many startup entrepreneurs are not moving forward is the inability to take a risk. Similar to this concept is the negative mindset of “if I fail.” The fear of failure hinders us to take the risk. Every successful business people have the ability to take calculated risks.
Grit
This is how Wikipedia defines Grit – “Grit in psychology is a positive, non-cognitive trait based on an individual’s passion for a particular long-term goal or end state, coupled with a powerful motivation to achieve their respective objective.” Do you have the quality of being persistent? One of the common characteristics of successful business people is to be persistent. Perseverance is the “name of the game.” It is grit that brought many successful entrepreneurs to reach a certain level of success.
If you have these characteristics, “now” could be the best time for you to become an entrepreneur and start your own business.