Business ventures often have similar beginnings. An aspiring entrepreneur discovers a promising idea and proceeds to start a business inspired by it.
For some, it becomes a side hustle helping them earn extra income every month. Others dedicate all their time to developing it and may even succeed in building it into a global brand.
But as excited as most aspiring entrepreneurs are at the beginning of their journey, many discover that they can’t handle the pressure and the grind that’s part of the game. A fellow entrepreneur told me once: “I don’t have the patience to wait a few years for my business to grow.”
As challenges are thrown along the way, entrepreneurs may wonder if they want to continue down the entrepreneurship route. If you ever dream of pursuing entrepreneurship, these signs will determine whether you are cut out for it or not.
You can’t accept the idea of failure
A friend of mine told me once that she will not become an entrepreneur because she can’t accept the idea of failure. But guess what? Failure is at the core of entrepreneurship.
As an entrepreneur, I failed multiple times until I figured out what would work for my business. You may build a whole business model only to find out that you need to scratch it and start all over again. It often takes multiple failures until you are on the right track. So, if you can’t embrace failure as an integral part of entrepreneurship, then perhaps it is not for you.
You are not a risk taker
I never was the kind of person who would enthusiastically ride a rollercoaster. It was too risky. But when I embarked on my entrepreneurship journey more than a decade ago, I learnt to take risks. It was the only way my business would grow. As you contemplate entrepreneurship, think of it as a step with risks would ultimately help your business grow.
You don’t like unpredictability
The only thing predictable about entrepreneurship is that it’s unpredictable. Your business could be doing so well, and then a pandemic, or an environmental disaster could bring everything to a halt. Even if you set up a daily routine and have your annual goals broken down to monthly and weekly ones, you won’t have a complete control over your journey. You have to account for outer factors beyond your control all the time.
You don’t like it when things get hard
There are numerous perks to running your own business and being your own boss. But that also means you may end working most of your day, especially when your business is at its early stages. In business as in life, things can get hard. You never know how your customers will react to your products, or you may face some issues with your suppliers, or employees. Sit down and have an honest conversation with yourself. Would you be able to handle the stress and the challenges that are likely to arise?
You don’t like to learn new things
Entrepreneurship is a humbling journey. No matter how much I think I know, there’s always someone who has something to teach me. You won’t be able to figure out everything on your own, no matter how developed your business is or how much experience you have.
You will need a support group, perhaps a mentor, and people who you go to for advice. Learning should also be part of your process. Dedicate time to learn, to exchange ideas with people, to network and to develop your skills.
Entrepreneurs embrace continuous learning, failure, risks, and don’t mind to be in unpredictable situations. If you have those traits in you, then entrepreneurship is the right route for you.
Manar Al Hinai is an award-winning Emirati writer and communications consultant based in Abu Dhabi. Twitter: @manar_alhinai
Updated: January 31st 2022, 3:30 AM