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Entrepreneur bug- is it for you?

Entrepreneurship

Women these days have so many options to choose from. From standard looking 9-7 jobs, to

homemakers, every one of us dreams of being on our own, starting our own venture some time in

our lives.

So many people are playing a gamble, leaving a cushy job, going ahead and taking the risk of their lives. Just like in bungee jumping, whatever goes down comes up, and the thrill of being onyour own gives you that adrenaline rush those routine jobs, being a homemaker can never match up.

But to take that plunge, you should be able to answer some questions, for your own sake.

Ask these straight questions before taking the plunge

1) Why I am here– Are you taking a shot because you want to satisfy your creative side? Are

you in it for making money? Are you in it for short term or long term? Explore the answers to

these questions, as they will determine whether the venture you are in is going to be fruitful

2) What do I want from this– Are you in it for business or pleasure? Are you looking for only

building lasting relationships? How soon do you want to start earning from your venture?

What is the earning potential? You must define the money aspect clearly before starting out.

3) How prepared I am to take in losses– As in any venture, you might gain some and might lose

some. Make sure you have an exit strategy and some kind of stop –loss arrangement where

you can back out if the losses start mounting. You must be deep-pocketed to sit back and let

the initial high capital outflow tide over you. The gains, as in any kind of business venture,

will take their own time and will depend on the type of business and its business cycle

4) Am I qualified enough– Are you sure of your knowledge and skill levels? Are you aware of

the latest developments in the field you are venturing in? Do you have the required skill set

to tackle competition? Are you able to take time out and further hone your skills needed for

the work?

5) Is the field too crowded– Agreed, all of us cannot be inventors, some of us may just strike a

chord with some profession and want to give it all that it takes. But if there are too many

players in the same field, you will end up undercutting prices or quality or compromising on

business ethics to beat each other. Take a bow and stay away from any such idea, too many

cooks always spoil the broth, so remember to be distinct and unique in whatever you chose

to do. Find your Unique Selling Proposition (USP) and be the game changer.

6) Are there enough opportunities to grow and learn – Lastly and most importantly, can you

really grow as a person? You quit a plush job or the comfort of your home to make a mark

for yourself. So do you have enough like minded fraternity around you to make sure you

grow and learn at the same time? Do you have a strong enough network that helps you in

learning, networking, making new friends, growing business and having fun at the same

time?

Join QWEEN, and discover the world, at your own pace, at your own comfort, and discover

yourself. Receive the support you need to start your own business at Qween!

Admin

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