Is Entrepreneurship right for you?

It is fair to say that the entrepreneurship is a booming trend among millennials. Growing up in an age powered by Mark Zuckerberg and Steve Jobs, a lot of millennials found entrepreneurship as their true calling. However, striking out for the first time on your entrepreneurial journey could be a bumpy ride. The challenges will arise on so many levels. Whether you're starting with knowing if entrepreneurship is right for you, finding your strongest passions, choosing the right type of business for you, or learning how to solve meaningful problems for your audience, there will always be a lot to learn.

 

Determining Whether Entrepreneurship Is for You

In order to know if entrepreneurship is right for you, you need to ask yourself these questions:

  • Do you have an appetite for risk?
  • - Do you prefer a steady paycheck or potentially unlimited earnings in exchange for risk?
  • - Are you capable and willing to take on a wide range of different responsibilities each day?
  • - Do you have a business idea that you are passionate about?
  • - Are you a good decision-maker?

If you feel confident and ready to take on the risk and responsibilities that comes along with starting your own business and have the will to commit and adapt to this journey, then let us move to the next step.

 

Discovering Your Passions and Turn Them into Profits

Starting a business that you are passionate about increases your chances of success. Simply put, when you pursue a business you are not genuinely passionate about, it is much harder to resist the temptation of giving up in the face of your first, inevitable failures. Thus, starting a business that solve a problem you care deeply about, will help you to push through any obstacles that you face.

If you find it hard to identify your passions (which could potentially be long-term successful business), you can start by asking yourself these questions:

  • - What are your favorite hobbies?
  • - What do you love doing?
  • - What do you like talking about with friends and family?
  • - What are your strongest skills?
  • - Are there any topics you're an expert on?

 

Find the things you like to do outside of your 9 to 5 job; you will have an idea of the topics you are genuinely interested in. You can also do a personal SWOT analysis to determine your greatest strengths and strongest skills as an entrepreneur. You will then need to think critically about which interest area are overlapping with your current strengths. Therein will lie the best path for starting to turn your passions into profits.

 

What Comes Next?

Diving into the world of entrepreneurship requires taking a lot of action every single day. Get out there and start connecting with people who share your interests and challenges.

Then, learn how to solve their problems, determine how to best reach a wider audience with the same struggles and start spreading out to help more and more people as you grow.

 

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Mariam Hatem - 27/02/2020

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