Starting your own business is an exciting--but scary--notion, but these five signs will let you know the time is right.
Maybe you have a good idea. Maybe you have a handful of potential partners. Maybe you keep finding yourself daydreaming about the potential of owning your own business. Whatever the case, entrepreneurship is calling you, and you aren't sure whether you should keep plugging away in your safer, more stable lifestyle, or risk it all for a chance at something great.
There's no single way to tell whether you're ready to start your own business, but if you notice more than one of these five signs, it's probably time for you to venture into the world of entrepreneurship:
1. You find yourself thinking about entrepreneurship often. If you find yourself constantly daydreaming about the prospect of entrepreneurship, that desire isn't going to fade anytime soon. It will keep eating away at you until you finally pull the trigger--so why wait?
2. You're passionate about your work, but not your job. Think about the work you do. If you're passionate about some of your responsibilities and duties, but not your specific job, it means this isn't the right environment for you. Working under your own direction is the only solution.
3. You want to lead. If you have a strong desire to lead others under a common effort, but you don't want to report to someone even higher up, entrepreneurship is the best outlet for you.
4. You have a great idea. If you have a solid idea for a product or service, and you know it has serious potential, that's a pretty good place to start developing yourself as an entrepreneur. Just be sure to do your competitive and market research before you plunge into things.
5. You know the risks, and they haven't deterred you. Many people love the idea of owning their own business until they start looking at the personal, financial, and professional risks involved. If you know the risks, and they still haven't stopped you, it's time to start your own business.
These signs should be able to help point you in the right direction, but ultimately the decision is up to you. Trust your gut instincts--if it feels like the right time, it probably is, and nobody can stop you from achieving your goals except you.
Jose Vasquez is a serial entrepreneur and tech enthusiast dedicated to helping startup technology companies get the direction and momentum they need to succeed. As the founder of Build. Brand. Blast., Jose has established a collective resource for tech entrepreneurs to consult when brainstorming, creating, launching, or expanding a new business. Jose is also the founder and CEO of Quez Media Marketing, a marketing firm that combines technology and creativity to help new and growing companies get the results they need.
Jose graduated from Goldman Sachs' 10,000 Small Businesses program. Goldman Sachs is a partner of the What Is Working: Small Businesses section.