Which factors to consider before leaving your job for the Startup?

Become an entrepreneur by accepting the reality not living in dreams.

But today, we see many dreamers leaving your jobs for a startup, where most of you fail.

Why?

It’s not that you are not putting enough effort.

It’s just that you haven’t considered the below points before leaving your job for Startup.

1. Product

Most entrepreneurs fall in love with your product instead of loving your customer.

You fail to see below very essential factors:

• Is your product solving a specific problem
• Do you know the market demand in reality
• Do you know who can buy your product
• Do you have real feedback from your specific customers on the product you are going to or have built already
• Do you know the future requirement for the same product
• Do you have competition

All this question might seem not so important while leaving the job since you are just dreaming about your product and becoming a multi-billionaire company.

And you are thinking that you have the best plan in the whole world and there won’t be any failures in your way.

If you are thinking this way, just stop, learn to live in reality, and then start whatever you want.

2. Finance

Many of my friends say that I am alone I don’t have family or any responsibility so I can leave my job to complete my dream.

But the reality is worse than that, no matter if you have or don’t have family or responsibilities — you have to feed yourself, you want to have a roof over your head, and you need to have all the resources required for startup, which doesn’t come free — you have to spend.

Many of you assume, “If I am starting a startup with my friends, so if I leave a job they will handle all my financial problems”

But in reality, I have seen a minimum of 98 percent of the people who start struggling in financial issues and finally start searching for jobs from scratch.

So unless you have a very strong financial backup of your own to start a business and live a life at least for a minimum of two years, do not leave your job because starting a start-up and living without a job is not realistic. You need your finance to be strong enough to support you in that situation.

3. People

Alone can be done if you are hiring dedicated people and you have all the resources to pay for their job.

But if you are thinking start a business with a bunch of your friends and grow a billion-dollar company. Then go back & think about the person you are working with. No matter how much dedicated you are but the ship you are selling is not one man’s job — it requires a team. If your team is making excuses then the ship is destined to sink.

Hard-working people are all right but smart and correct mindset is more important than their work.

A hard worker can continuously work but you don’t need followers, here you need a leadership mindset & peoples person.

4. Skills

If you are starting a business alone you need all the technical, people, and mindset skills to handle everything until you get proper funding and start hiring.

But if you are a team, you got to be the best skilled and continuously learning personality in your work area and if required in other areas as well.

But again here are certain skills you must have like problem-solving skills, people skill, risk-takers skill, positive thinking skill, and most importantly the leadership skill.

You can learn these skills from books, videos, or mentors and practice it till you become it.

5. Leadership

I had to call this out separately because no matter how much-skilled person you are in your job if you don’t know about the leadership about the people skills then you are anyway zero & your business is going to sink.

That’s the reason most of the organizations now are trying to improve their leadership and people skills because they don’t want to sink.

Now just think that the organizations which are in the market for many years are thinking about leadership and people skills in this much extend which means how much you got to think about it.

The people build the product, people are going to maintaining, and people are going to buy it, so at the end everything is about people!!!

6. Your interest

Your interest is very important because if you are doing all this just for money then no matter how successful you become or even if you fail at the end the result will be zero.

Because to live life your mind and body need to be in sync.

When you are only thinking about the money your body is all right but your mind is not answering — you lose the joy of life and yourself.

It is important to earn money but

Money should be byproduct of your interest, your passion, and your purpose of living life

Your life must not be the byproduct of earning money.

7. Future prediction

Why future prediction is important?

Because there was a man who brought a whole lot of horses just before the car was getting launched in the market.

Nothing that would be the value of those horses in front of the car — nothing!!!

The guy finally had to shut his traveling business.

So keep up to date on the latest feed so you know how much value it can serve at least for a year.