Should I Start a Business?
The article was written by: Suzy Wraines

Why I do what I do…

This morning as I was sitting sipping coffee and thinking about what needs to be done today I paused… 

I was feeling tranquil not overwhelmed or scattered. I thought to myself, this is strange. Usually, I have a million things I need to get done but today I’m staring at a blank page for my list of “to-do’s”. 

The amazing thing about this is I’m not stressed.  So I took a moment to contemplate why I’m so at peace as a new business owner. 

Shouldn’t I be feeling stressed, overwhelmed, and already diving into the millions of tasks I have pending?

Hmmm… I realized at that moment, that I’m enjoying working on my business.


It got me thinking… I’m a business coach because I love to help others who are struggling to start a business. 

The reason I started my business is to share the knowledge and experience I have from over 20 years in business. 

Now I understand this quote by Jack McDevitt...


 
“Embrace your life, find what it is that you love, and pursue it with all your soul. For if you do not, when you come to die, you will find that you have not lived“ 
-Jack McDevitt

three questions to ask yourself

Should I start a business, questions to ponder...

  1. Do I want to have my own business to gain wealth?
  2. Am I passionate about something there is a need for?
  3. Am I working for someone else doing what I could do for myself in my own business?
Let’s dive into each of these questions a little further.  

Question one: Do you want to have your own business to gain wealth?

If gaining wealth is the key reason for you to want to start a business you may want to think about it a little more.  It takes time, energy, and money to create and run a small business. 

That doesn’t mean you can’t start a business to build wealth but you should only be thinking about gaining wealth in your business. 

Any business can attain wealth if set up correctly and managed properly. Having the right business plan to start with allows you to set up the business in a way that you can scale to grow. 

Question  two: Are you passionate about something there is a need for?

This question is a good one to ask yourself.  Is there something you have a passion for that could benefit others?

When you do research on small businesses you will find many of them started with the owners doing what they love and then turned into a business to share with others. 

One way to find out if your passion is a good business idea is to write out how it can benefit other people. Ask what problem will it solve. 

Now that you know what problem it solves, look around to see if there is a need for this service. You can ask around your community or online to see if there is a gap in the industry for what you offer. 

Question three: Are you working for someone else doing what you could do for yourself in a business?

In my 20-plus years of experience working in the corporate sector, my supervisors always told me how they couldn’t work without me. I was getting high-performance reviews. 

There were times when I could measure the revenue growth directly linked to my work in the company. You see I worked supporting our sales teams. When I did my job well we made more money. 

During this time I could see a direct link between what I was doing and making the company money. This gave me the confidence that I could make money for my own business. 

You can do the same. For those of you who are still working for someone in a job. Make a list of all the ways you contribute to the success of the company you work for.  Ask yourself, how can I translate these skills into my own business?

Now when you ask yourself, “should I start a business?” What comes up for you? Is it hmmm… I’m not too sure about this or is it a resounding YES! I’m ready to get started. 

If you are unsure, take more time to work through why you are unsure. If you are ready to get started you can download starting a business checklist.


Conclusion

When it comes to starting a business only you can decide when you are ready. I can say it took me over a year to figure out when I was ready to start.  I’m glad I took the time to research and know exactly what my passion is and how to help people.  You will get there too. 

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