5 questions to ask yourself before starting your own Startup.
I entered Startup world quite early. For a third year naive college student trying to find her hold in this world to the one building her own Company, the journey has been an adventure.
While working in a CoWorking space in my early days, I was surrounded by a number of Startup Founders, employees and enthusiasts; all with different motivation and mindset behind their work. I could see the buzz around Startups getting stronger by the day.
I also used to dream about starting my own Company. But, I was curious to understand my own intentions behind my dreams.
Here are the 5 questions I asked myself before making the decision of starting my own Company:
- Am I choosing this to skip being answerable to anyone?
The feeling of being your own Boss is alluring. The tag of CEO or CTO brings a lot of pleasure when you dream about it. Starting your own Company can easily give you these titles.
But, all these tags also bring with them higher responsibilities. Your work no longer remains in a specific area. On some days you might even find yourself brooming the office floor. You need to take responsibility of everything that happens in and out of the company. You might not have control on many factors.
You are your own boss is a myth.
2. Am I ready to bare the emotional cost that comes along?
We ponder upon different types of fixed and variable costs related to any business. The emotional investment and the emotional cost is often ignored.
With no Saturdays and Sundays and being permanently broke, the journey could be lonely and stressful. Everything from our existence to our relationships is affected in the process. The experience is an emotional rollercoaster. The sudden change in the lifestyle is taxing.
Now, the question is how strong are we to beat all the odds and make it big. More than the strength in the idea, our emotional strength determines how we would end up. And it will never be easy getting there
3. Is my intention only to make money?
Building a million dollar company is everyone’s dream. And there’s nothing wrong with that. The problem arises when money starts driving your dreams.
The target should always be on building awesome and helpful product. Everything else will eventually follow. It will take you much longer than you think to make a profit. But, the passion to create amazing stuff should never take a back seat.
Money can never attract contentment, doing something worthwhile will always does.
4. Am I doing it because everyone else is?
We often end up believing that we should also do what everyone else does. It’s always been easier to follow the crowd. You can swim in or against the flow, but at least make sure it takes you to the shore you want to be in.
Don’t let yourself turn into a zombie. Give yourself some time and evaluate if you really would love to do this.
5. How comfortable I am with failing or making mistakes?
There will be many rough days. You will see a lot of stuff failing. Things will not work out the way you planned. You might face situations which aren’t directly under your control.
If it’s difficult for you to survive with mistakes, this journey is not for you.
Any business doesn’t only require skills and money, it thrives on determination, fearlessness and patience too.
Startup life is not for the faint-hearted.
Originally published at Enigma Blogs.