Some people are just meant to become entrepreneurs. When you ask them what they want to do in their careers, they tell you that they cannot stand working for someone else. Quite simply, they want to be their own boss.
These individuals are usually some of the most ambitious people you know and aren’t afraid to try to do things their own way to achieve success and give something valuable back to the community. While each entrepreneur’s incentives may vary, the most successful ones first think about how they can make life easier for other people, and usually that is the primary motivator for starting their own company.
While becoming your own boss may sound easy in reality it isn’t. According to Forbes, about 80 percent of businesses fail within the first 18 months and they fail for various reasons. Perhaps the failure occurred because of a problematic business strategy, a non-profitable business model or even ineffective interaction with the target audience. Knowing this before you start your own business is vital information so that you know what to avoid when working on your business plan.
Even though the numbers might be discouraging: sometimes failure is good. After all, success is all about perspectives. Just as Soichiro Honda has said, “Success is 99 percent failure” and you should learn how to embrace it. Either way, you will never know what it means to be an entrepreneur unless you try. Even if it fails, at least you can proudly say that you have tried and eliminated the ‘what-ifs’ in your career. And just because the first startup failed doesn’t mean that the second won’t thrive.
So, here are some of the most profound signs that you should become your own boss:
#1 You Want to Follow Your Passion
After holding numerous jobs, you realise it is time to invest in your passion project. This has long been your goal after all, but you waited for the right opportunity to come along. Many successful entrepreneurs have found themselves in the same situation but these guys actually took that leap of faith and pursued their passion projects. They just went for it.
#2 You Don’t Take Commands
You know you are born-to-be an entrepreneur when you prefer to be a leader instead of a follower. Better yet, the commander instead of the soldier. You may be a strong team player, but you know that you can’t be bossed around easily. However, you can imagine yourself bossing other people around. Also, becoming your own boss means that you don’t do things you don’t want to do, and you can’t get fired, unless you decide to quit. So there is no one telling you that you didn’t arrive at work on time, or that you dressed inappropriately for a meeting.
#3 You Want to be Responsible for Your Success
Considering becoming your own boss means that, you want to take your career into your own hands, quite literately. You don’t want your professional development to be confined to the limited opportunities a single job offers or let it be determined by someone else. You probably have a strong desire to develop yourself in any way possible and help those around you to the best of your abilities. Simply put, you’d rather take the whole basket, than just the eggs.
#4 You Hate Routine
Some people are content with the fact that they will wake up every day at 7am and go home at 5pm, leaving work-related problems at the office door. They feel comfortable with routine and they can’t live without some sort of structure in their lives. Becoming a boss however, would mean that you will be all over the place and even when you leave the office your mind will still be working out your next move. Also, you would be managing not only your life but also the lives of another 10 or 100 people depending on how big your company is.
#5 You Are a Frequent Risk-taker
If you often take risks in your professional life, then you will love making life-threating decisions that relate to your company. This is because the fear of failure doesn’t stop you; instead it encourages you to take action and go after the things you want to achieve. You like to experiment, and you keep a list of ideas you want to try out so you wouldn’t mind taking some risks to see where they take you. Taking risks, however, isn’t for everyone, and being impulsive isn’t a quality entrepreneurs are particularly proud of.
#6 You Want to Make More Money
Becoming your own boss is not a guarantee you will get more money, but it will probably increase your sources of income. It will also help you manage your finances. Likewise, even though money isn’t the only reward that you get from starting a business, it should count for something, especially if you are trying to build a life for you and your family. You will have a better idea of where your money is going and you should be able to better provide for the future as well as improve your quality of life.
If becoming your own boss is what you are aiming for, those who have already been there and done that would advise you to start working on your project as soon as possible. While there is no rush, you don’t want to waste any more time doing something that is not necessarily your thing. Need some help? Get yourself a mentor to guide you through the process and plan out your strategy.
How confident are you that you have what it takes to be your own boss? Let me know in the comments section below…