Have you recently found yourself wishing there was something new happening in your life? Perhaps you’ve had a major life shift such as kids going off to college, divorce, or retirement, and you can’t help but think, “What’s next?”
Here are a few signs that it may be time to seriously look at business ownership as your next move.
It’s just time. If for as long as you can remember, you’ve toyed with the idea of owning your own business, and all these years your inner entrepreneur has actually been patiently waiting for you to take action, then why not unleash it? When will there be a better time?
You’re tired of building wealth for someone else. You work your ass off. You don’t mind. You love working. But now that you’re (fill in age), you wonder if it’s time to start building something for yourself.
You don’t feel like you’re getting anywhere in your current job. If you dread waking up every morning, then you’re probably unfulfilled. Worse, if you keep getting passed over for promotions or feel undervalued, maybe it’s time. Starting your own business can give you an immense sense of accomplishment.
You want more control of your future. Companies are always shifting, and with the uncertainty of lay-offs or corporate takeovers, it can feel like your future is in someone else’s hands. If you’ve gone through more than your share of layoffs and have vowed, “never again,” then why not create your own job security instead?
You have passion. If you’re passionate about helping people, creating jobs, or building a better company, then owning your own business can bring back that passion you possibly haven’t felt in a long time. And, by the way, passionate people make the best entrepreneurs.
You want flexibility. Tired of being told when you have to work or when you can vacation? Maybe you have small children with busy schedules, or perhaps you're most productive from 4 to 9 a.m. If setting your own schedule has become a priority, owning your own business means you can.
You need to unleash your creativity. If you have been holding on to your creative ideas for far too long, or don’t feel they are being utilized by your boss, then maybe it’s time to express yourself with your own business.
You think it may be time for personal reinvention. Major changes such as divorce and retirement often bring clarity and inspire personal reinvention. Starting a business is very empowering and can be a way to take back your life.
You’re thinking about your children. Whether you want to build something to leave to your kids, or simply want to be a positive role model, entrepreneurship is something to be proud of. You may even be able to bring your children on as part time employees through high school and beyond — which is a great learning experience.
You’re ready for a challenge. Some people thrive on learning new skills and knowledge. Your experience as a new business owner will bring with it lots of challenges and it will take all you have in terms of your existing skills, plus some new ones you will discover along the way.
Taking the leap to business ownership will be hard, and you will have to overcome your fear of the unknown. But at the end of the day, there is nothing more satisfying than steering your own ship and succeeding, knowing it was 100 percent your efforts that got you there.
Jane Stein is a member of the DailyWorth Connect program. Read more about the program here.