5 Questions to Ask Yourself Before Starting Your Own Business (Getting Unstuck E4)

Starting your own business isn't for everyone. But, how do you know whether it might be right for you? Let's take a look at five questions it may be helpful to ask yourself if you're considering starting your own business.

Question #1: Why do you want to start your own business?

If it's just because you hate your current job, there are so many options available! Starting your own business isn't the only option (and, depending on the situation, it may not even be the best option). You might decide to ask people in your network why they decided to start their own business and how things are going - and things you might consider. With this post-pandemic work landscape, there are so many work options, including remote, hybrid, and in-person - and there are thousands of companies out there - and only one you. So, the answer to Why can really help you get some clarity on what direction you might go here.

Question #2: Do you tend to be solution-oriented or problem-oriented?

Solution-oriented sounds like, "This is an obstacle and there are a few solutions. I could do x, y, or z." Problem-oriented sounds like, "This, this, and that is wrong." There will always be obstacles. How you handle them can make or break your business. To get an idea of how you might handle them, reflect on how you currently handle problems. If you get overwhelmed or stuck easily, it doesn't necessarily mean that you're not a good fit to own your own business, but it does mean that there's something to be curious about in this area - and a potential perspective shift that's needed. It's definitely something to be aware of because it would need to be addressed before jumping in.

Question #3: What is your transition plan?

This is an area where I can say, "Do as I've learned, not as I did." When I quit my job, I had almost no savings and it was a huge risk. I happened to get enough work immediately to keep me busy for a while, but then I was terrified of what would happen after that work ended. Financially, mentally, and emotionally - this just isn't the best approach.

If you're in a job at the moment, I highly recommend dipping your toe in the entrepreneurial water and having several months of savings before taking the leap. And, if you don't have a job at the moment, and you're trying to decide where to put your energy - get a new job or start your own business - I'd say that your decision depends on a few factors, including again, how much savings you have, how far along your business idea is, etc.

For example, if you don't have much savings, you're terrified of running out of money, and you only have a vague idea of what you'd like to do for your own business, you might be living in the sympathetic state where you may feel anxious, restless, and hypervigilent - and it's very difficult to think of creative solutions from this state. So, you might decide to do something in the middle, for example, where you look for any job that will get you some money coming in, focus on taking really good care of yourself, and shifting into the parasympathetic state, and from there you can expand on your business idea and start moving forward.

Question #4: What kind of support system do you have?

Have you ever heard "it takes a village" in reference to raising a child? This is also true of having a business - having a support system can make all the difference! A group of like-minded individuals who are there to help each other, brainstorm together, and answer questions is SO helpful! I've talked about communities of practice that I've created and how greatly impactful those have been. At any given moment, if I had an issue, I could go into one of my communities, ask for advice, and get it within seconds. This is the type of support that you can borrow confidence from. I know that I don't have all the answers, but because of the smart folks I surround myself with, I actually always have the answer because everyone's experience combined is vast.

Question #5: Are you self-motivated?

If you're the type of person who tends to wait for instructions or doesn't do well with the unknown, it can be a bit difficult to adjust to owning your own business. Having your own business is a lot of unknowns. You wake up each day and have to decide what path you'll take and what you're going to do to push things forward. If that sounds overwhelming to you, it's important to know this about yourself. You could choose to get curious about why that sounds overwhelming to you - maybe this is an area you'd like to grow in. Or, maybe you decide owning your own business isn't for you.

Which of these questions are you currently pondering?

Not sure what's next for you? You're in the right place! [Resources below!]

?? 21 Days to Get Unstuck: What if, 21 days from now, you woke up in the morning with clarity and ready to start the day? ?? https://stan.store/pattibryant

?? FREE QUIZ "Your Stuck Style": Take this 2-minute quiz to gain insight into where you are and how you can move forward ?? https://pattibryant.outgrow.us/GettingUnstuck

?? FREE QUIZ: Are You Ready to Become an Entrepreneur? ?? https://pattibryant.outgrow.us/EntrepreneurReady

?? Have a question you would like for me to answer about getting unstuck and creating a work experience that serves you? Submit it here ?? https://pattibryant.com/pondering-with-patti/