For every project you begin, timing is key. But when it comes to starting your company, making sure that this is the right time, is what can make the difference between success and failure.
Timing as the economic situation, the industry but also in terms of your own timing, whether you are “ready” or not.
Personally, I don’t think that there is such a thing as being completely ready for the major decisions in our lives, whether it’s professional (starting your own business or career change) or even personal (getting married, have kids…). Life changing decision-making can be terrifying and many of us tend to make excuses not to have to make those decisions. Don’t get me wrong, there are some requirements that will define how much “ready” you are (financial stability, family life, personality, experience and skills…) but if thinking about your projects, the pros and the enthusiasm take over the cons and the doubts, if thinking about it, you automatically focus more on what you would need to succeed rather than the risk of failure, then you are as ready as you can be.
Have your plan and means in place.
Maybe keep your actual job or make sure that you have enough savings for few months while you build your business plan and define the resources (capital, software, office tools…) you need to start and get your first clients. Starting your business is stressful enough on its own, and to focus on developing your project you don’t need to add yourself some stress worrying about your finances.
Starting a business can be like starting a relationship; you take a risk, you know that you will have to face challenges, yet, you commit to it and every day make the decision to give it your everything to succeed. To start your business, you must be sure you can make it your priority, which means dedicate your time, energy and money (which also implies making sacrifices).
The best time to start has nothing to do with age but is a matter of experience, confidence, where you are in life and whether you are ready to face obstacles and overcome them to reach your goals.
To start your business timing is key but can’t be everything. Just like there are almost as many careers than people, being a business owner isn’t for everyone.
Read our article to see if being a business owner is a good fit for you according to your personality.