If you feel frustrated by your job, you might spend much of your time at your desk daydreaming about starting your own business. Perhaps you’ve even Googled ideas on how to be your own boss.
Still, you might feel intimidated by the prospect of simply giving up your regular paycheck for something that could fail. While quitting your job would provide some immediate emotional relief, it would come at the cost of giving up any sense of security.
How do you know if you’re ready to change your life and follow your dreams of building a company that provides personal satisfaction and economic well-being?
Here are some clues that you’re ready to launch your own business:
You Believe You Can Do Things Better
If you’ve been a high-ranking executive in your industry for a long time, then you may have learned many invaluable things about how to run a company like the one you’re working in right now. For instance, if you’re in the manufacturing industry, you might have an exceptionally good idea of what products to manufacture and how to raise capital to start your own factory. In fact, you have a gut feeling that if you got started in the Maquiladoras in Mexico program, which encourages foreign companies to set up manufacturing plants by giving them preferential tariffs, that you would do remarkably well.
If you have the knowledge, skills, and experience to do a better job than your boss, it might be a clue to take a leap of faith and build your own business rather than wait for your boss to retire or move to another division of your corporation.
You Prefer Independence to Conformity
If you are an independent and self-directed person, then you might find it difficult to conform because you know how to do the work better and faster. You feel frustrated because you know what to do and how to do it but must follow orders and conform to outdated corporate policies that not only fail to solve your company’s current business problems but also make them worse.
In fact, when you’ve made suggestions to your superiors about how your company can improve its operations, they dismissed your ideas without even giving you the time to explain why they just might work.
Consider this another clue. Instead of subordinating yourself to others’ whims and then feeling resentful because no one is willing to listen to you, it may be time to move on. Although your company gives lip service to encouraging new ideas, the reality is a little different. If you find yourself in this frustrating situation, it may be time to assert yourself and become your own person.
You Have the Right Stuff
When you compare yourself to any entrepreneurs that you know, you find that you have many of the same qualities. For instance, you’re just as motivated, just as knowledgeable, just as proactive, and just as enthusiastic about making this world a better place through your products or services. Based on all the business books you’ve read, you have the right stuff to be an entrepreneur.
So, Should You Start Your Own Business?
If you feel overwhelmingly frustrated by your job because you have a strong conviction that you can do it much better than you’re being allowed to perform based on your years of experience in the business, it may very well be time to branch out on your own.
But here’s the thing: you don’t have to quit your job right away. Instead, in your free time, do all the research you need on exactly how to set up your own business, including getting the funding that you need. Only when you’re ready, with your business plan in place, are you likely to feel confident enough to quit your job and start your own business.