What Question Every New Entrepreneur Coming From a Corporate Managent Job Must Answer?

Yesterday I was asked by the Owner of the first Company I worked for : "so, are you making any money?"

The question for me was easy to answer: " IF my focus was just to make money, I would still be working for you" .. he smiled at me and said: "you probably should have stayed with me". We both smiled.

The untold story of many entrepreneurs who decided to leave a safe and well paid job to launch their own Business idea ends up most of the time in a very different way than expected and planned.

The main reason why many Managers decide to invest in their idea is not to make money: money is simply a tool to do things. The real goal is freedom.

So many Amazing people I know that are working for well known Companies take for granted that the reason they are successful in the Corporate world is that they live in a somewhat protected environment while the ones who start a new Adventure on their own are like an Explorer who have to live everyday with uncertainty and difficult choices to make.

The problems entrepreneurs have to confront every day would overwhelm most managers: the game of "beingin Business" we are playing is the same, the rules are just different when you are launching your own Side Hustle/Business.

It took me years to understand that an idea is worth 0 and that strategic execution is really key to success: execution itself does not guarantee success.

So, What is the Question Every New Entrepreneur Must Answer before starting?

The very first question to be answered before launching a New Business Idea should be: is my Business Model strong enough to survive the uncertainty of the first 2-3 years?

A business model is also a detailed in depth plan for profitably by operating a business in a specific marketplace (I will never over enphasise this enough).

Trying to sell everything to everyone hardly works when starting a New Business. Always start with a Market niche and later expand. FOCUS!

Before starting my own business I read a lot of books and I will always remember this quote since I wrote it down:

"When you start, you just do it, like the Nike ad says. You are naive because you haven’t made your mistakes yet. Then you learn about all the things that can go wrong. And because your equity now has value, you feel you have a lot more to lose.”

I am always in favor and support of Managers who are thinking of launching a New Business Idea but I also like to share my experience since when you leave your full time job to launch a New Business everything changes.

What is the most important personal question to answer is: will I be able to cope and strive with the Risks I will be taking and with the Sacrifices I will need to make when I will be exploring this new World?

IF the answer is "YES", prepare well and go for it.