Look, chances are high that should you’ve clicked on this text, then you definitely’re not less than excited about the opportunity of becoming an entrepreneur. Nonetheless, should you’re like most of us, then it is also seemingly that simply as rapidly as desires of entrepreneurship enter your thoughts, you are additionally seeing warning indicators, roadblocks, miserable statistics and possibly a horror story or two of that particular person you already know who took a leap that did not pan out. You are not alone. And but … it is a tempting thought.

As a former company worker of a few years, I’m all too conversant in the motivators behind changing into an entrepreneur:

• The autonomy to determine your personal destiny after years of bureaucratic crimson tape
• The flexibleness of constructing your personal schedule after a conventional 9 to five
• The monetary safety of realizing your onerous work immediately impacts your backside line somewhat than accepting a predetermined wage
• The sheer pleasure of discovering goal within the day-to-day work

Belief me, I get it.

Nonetheless, as we all know, entrepreneurship is not for everybody. So how do you determine whether or not to think about it for your self, a lot much less take the required leap? In my present function as a franchise advisor and small enterprise proprietor, I work with individuals the entire time who’re on the cusp of constructing this very determination. So earlier than diving in, how are you going to prime your self for entrepreneurship earlier than leaping in with each ft?

Associated: How to Know If You’re Ready to Leave Your 9-5 and Go All In on Your Side Hustle

1. Mirror and self-assess

As talked about, not everybody can grow to be an entrepreneur, so you must actually ask yourself: What am I good at? What do you love to do? Am I a creator/visionary or am I an operations/execution particular person?

Make an inventory (sure, really put pen to paper or pull up a doc) and take a listing.

2. Begin networking with enterprise homeowners in your neighborhood

On the finish of the day, being an entrepreneur requires a sure degree of social potential. I am not suggesting that you should be the lifetime of the get together or probably the most extroverted particular person within the room — in reality, there are many profitable entrepreneurs who’re predominantly introverted. Nonetheless, there is no such thing as a quicker technique to grow to be conscious of the ups and downs of entrepreneurship than placing your self in entrance of enterprise homeowners.

Meet them by the chamber of commerce occasions, meetups, skilled growth service get-togethers, commerce networking occasions and training teams. There are even govt transition teams particularly designed for making this leap.

Do not restrict your self. Except you might be completely assured in the kind of enterprise you wish to personal, solid a large internet. Community with franchise homeowners, on-line startup enterprise homeowners, and so on. If you’re making an effort to satisfy these individuals and make these connections, you’ll discover them.

3. Educate your self

Except you might be sitting on a big inheritance, there is not a golden ticket technique to fast-track your success. It is vital that you simply take the time to educate yourself on numerous alternatives. Hit the books and skim, learn, examine enterprise possession, management and administration abilities. Maybe contemplate getting one thing like Kindle Limitless which lets you peruse hundreds of books and take a look at as much as 20 at any given time for a month-to-month subscription.

I usually prefer to say that as a enterprise proprietor, you’re the OEO (Solely Government Officer), so be sure to are additionally studying up on among the much less glamorous features like human sources, coaching and tech instruments.

Along with studying, watch YouTube movies, observe social media influencers, take heed to podcasts — no matter it’s that you simply suppose chances are you’ll be missing or no matter ability you should hone earlier than changing into a enterprise proprietor, make an inventory and domesticate your data in these areas.

Associated: Most People Have No Business Starting a Business. Here’s What to Consider Before You Become an Entrepreneur

4. Begin a small facet hustle

In the end, if you are going to begin a enterprise, you’ll should juggle and sacrifice issues. For instance, there could also be instances when you may’t go on a trip or take time off. You understand the phrase: “The grind is actual.”

As an entrepreneur, your work life and your private life intertwine, particularly firstly. A profitable enterprise provides you all 4 of these motivators I discussed above (autonomy, flexibility, monetary safety and goal), however not upfront — it takes time to get there.

In the event you, like many, are contemplating entrepreneurship however nonetheless have a day job, you should ask your self: Do I’ve the psychological flexibility to compartmentalize and transfer backwards and forwards between each?

Beginning a small side hustle is a testing floor for you. Begin with low stakes and a decrease funding. This will help you put together to grow to be an entrepreneur.

5. Communicate with the decision-makers in your life

Final, however definitely not least, it is vital to talk with the individuals in your life who could also be impacted by your determination to grow to be an entrepreneur, most certainly a spouse.

Have a deep dive and a critical dialog that you simply schedule individually from simply one other night dialog after a busy day. Have a planning dialogue for the long run. Create a future imaginative and prescient for what you need your life to appear to be over the following 5, 10 or 15 years. Will you keep in your company function? Do you might have plans in place for retirement? What’s your risk tolerance? Charge it on a scale of 1-10. Now what’s your partner’s danger tolerance? Is there alignment?

I really cannot overstress this: Creating that future plan/imaginative and prescient is vital. In spite of everything, if you do not have a goal to intention at, you will not hit it.

In the end, entrepreneurship could be a improbable path main towards a satisfying and thrilling life — it is one of the best skilled determination I ever made. That mentioned, it is vital that you simply take the time to grasp your self and the alternatives out there. Contemplate taking these steps above to prime your self for entrepreneurship in order that when the time comes, you may be able to take the leap.