What to do if you are unable or unwilling to quit your job?
Entrepreneur Lifestyle

What to do if you are unable or unwilling to quit your job? Entrepreneur Lifestyle

In my role as mentor to business professionals, I often get the question about your potential of going out on your own as an entrepreneur, versus your current role of working for a boss at an established company.

While it’s an individual decision with many factors and potential risks, I believe the best way to answer that question is through key mindset components.

Many people believe that success is dependent on having an original and innovative idea. However, I disagree. Good ideas can be found everywhere, but it takes a special skill or focus to make them profitable.

Therefore, it is important to examine your mind and determine if you are able to implement these strategies.

1. Prioritize business issues and not your dreams.

A business problem is something people are willing to provide money for a solution, not a solution looking for a problem. The hard work required to solve problems is what entrepreneurs enjoy. They must also be able to focus their efforts on specific products or services, as well as financial details.

2. able to mobilize people and provide support.

The creation of a new business does not have to be a one-person operation. Entrepreneurs who succeed are people-oriented and can recruit experts in many areas, such as finance, marketing, production, operation, or finance. You must be able to communicate with your customers and their needs.

3. You must be willing to take hard and difficult decisions.

Your new venture requires you to take full responsibility. You are the only one who can bail you out. My friends are often able to think of great ideas but they’re too happy to let someone else take responsibility or make decisions.

4. Leadership can be both for thought and for people.

This requires first acknowledging that the role of leadership involves more than just giving orders. Effective communication and role modeling for customers, investors and team members are essential. You should not be uncomfortable with any of these things. I would recommend you to keep your job.

5. Be a believer in marketing and selling.

With today’s world-wide Internet, no solution is so compelling that “if we build it, they will come.” Your product and yourself must be sold. Social media marketing, traditional media and personal visibility are all necessary to draw customers and loyalty and create a strong brand image.

6. Be a “jack-of-all trades” rather than an expert.

Entrepreneurship will be more rewarding if you are able to take on many responsibilities and learn new skills. You will never have a team that is as large or skilled as the skills required. This means you must be willing to help others. You do not need to be a startup expert.

7. Take calculated risks and enjoy the challenge.

Many aspiring entrepreneurs have been stopped by fear of failure and significant risk. This has also hampered their ability to succeed. There are many unknowns in any new venture. To be a successful entrepreneur, you must enjoy taking risks, but always look for the balance between extreme risk, and smart risk versus return.

8. In all your actions, demonstrate agility and speed.

It is crucial to be the first in a rapidly evolving world and move quickly when things change. Entrepreneurial life may not suit you if you are someone who likes to re-examine things or second-guess your choices. The best entrepreneurs must be able to react quickly and make a recovery.

9. You must have a goal and a long-term vision.

Professionals in established businesses are expected to perform their assigned tasks and delegate long-term planning. The best entrepreneurs follow their passion and purpose, and tend to think more long-term for their satisfaction, rather than short-term. Your success is what others look up to.

You might not be able to fit into one of the above mindsets and are not happy in your job. However, now may not be the right time to start your business.

While entrepreneurs consistently claim to be happier and healthier than employees, the role is certainly no fun for those who don’t have the right mindset.

Inc.com columnsists’ opinions are not the views of Inc.com.

Publiated at Wed. 11 August 2021, 04:45:15 +0000

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