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Many of us have these entrepreneurial vibes in us. We want to be our own bosses, self dependent and passionate. Also most of us are skeptical and nervous about this big step. When is the right time to put my papers and start my ‘journey’. Well, if you are reading this and have already seen yourself on that chair, then  congratulations your journey has begun.

I have put together a few signs that shows you are ready to set up your business. This is out of my experience of reading about people and meeting people.

You have a monopoly talent

If you have a talent, art or skill that is rare or a only a few people got it then you clearly need to convert it into your pay cheque. It could be something which not many people will use but remember to whoever wants to use your skill you are the only one. Therefore capitalize on it.

Eg: You are the only DJ in your village. Well, start a Dj training course to the young kids around. You can give a twist giving a discount to girl students as we don’t see many women DJs. This way you can attract kids who are interested and make money too.

Read : 11 different ways to earn while being at home

You have an unique idea

This is slightly different from the above because you have got the idea but do not have the required skill set to implement it. Well, as  a first step make a detailed study about your idea. Research around about the possibilities of existence of such business. Go a step ahead and check if something similar is already in other countries. This will help you understand both the risks and returns from bringing your idea into life. Also question yourself why is your idea unique.

You don’t have much of a money problem

Well this is slightly dicey to decide. What is the point you can say I can drop my papers for my current job and focus on my new venture? Will I be still able to support my family till I earn from this new venture? When will I break even? How much money do I need?

All this has to be your decision. You can ask a few businessmen around seeking their advise and opinion but at the end of the day it is your decision or more like your gut feeling to work towards your dream company.

You are passionate

This has to go without saying. Setting up of a business is not like – I can change my job if I don’t like it. It is a marathon. You have to live with it forever. Sometimes generations together tend to live with it. Therefore do only if you are passionate. Your business has to be the reason you wake up every morning, do your yoga eat healthy breakfast and drive to work.

Read : Categorise you finances

Why should you budget every expense?

Making financial goals achievable

If you think I have missed out something feel free to write down in the comments section below

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