Let’s tackle the ever-important, sometimes impending question many of us ask ourselves when we get frustrated in the corporate world: should I start my own business? Why not right? It’s got to be better than this . . . right?
In working with both corporate women and female entrepreneurs, I see the fears and doubts before the plunge as well as during the #entrepreneurlife. If you’re debating this question, let’s answer it.
You have been wondering if this is your next chapter, your path, your calling; this means entrepreneurship. You don’t know much about owning a business but surely it has to be better. There are tons of perks: being your own boss, making the rules, making the decisions, and putting your gifts into the world.
First and foremost, let me tell you that all of those things are accurate. I love being my own boss, I love making the rules and the decisions, and I wake up each day excited that I am sharing my gifts. However, it was an arduous road to get to this point. You have to stay committed to the path because it’s not easy.
So here’s the deal, let me help you mentally tease out if entrepreneurship is something you can stick with for the long haul. The way you answer “should I start my own business” is by answering 3 fundamental questions. When you answer these questions you will ultimately know if entrepreneurship is right for you.
How do I know this? Because not only have I done this with clients, but because ultimately we all want the same things: fulfillment, to live our purpose, and live a life without regrets. No one wants to live a miserable life and no one wants to look back on life at the end of it and say: If only I had done ________ (fill in the blank).
Grab your journal. Dedicate some time, not 5 minutes but at least 15, minimum. Be honest with yourself. You’re not impressing anyone or letting anyone down with your answers. This is YOUR truth. Discover it.
- Why would you start your own business? If you want to take better care of your family, have zero financial concerns, take care of your parents, have money to create a non-profit, etc. then all of these reasons and more are your why. Why you do what you do drives you to do everything in life. What is your why?
- What matters to you? What daily activities will make you feel fulfilled? What must you do reguarly to feel like you are living your purpose?
- What will you regret? I’m not talking about starting a business or not starting a business; what are the major factors in your life that you don’t want to miss. For example, let’s say it’s critical to you to spend the first 5 years of your child’s life with them. Your youngest child is 2. You have 3 years left before you even feel comfortable dividing your attention. So there’s your answer. “I don’t want to regret missing the next 3 years of my youngest child’s life.” That is a solid, strong, honest answer.
Now look at your answers and reflect. Is what your doing now fulfilling you? Are you living your purpose? Will you regret not trying to live your purpose on your terms? Use the answer to these 3 questions to decide if starting a business is right for you. Now notice, I didn’t ask about the business you will start. I simply want you to use these answers to then say: “Yes 100% entrepreneurship,” or “Nah a side hustle works,” or “Nope, I’m an employee for life.” There is no wrong answer, only YOUR answer.
Today’s challenge, answer the questions honestly and then determine if the best way to deliver on your why, live your purpose, and have a life with no regrets is to start a business.