Start-ups, even before the name become official and trending, was used a platform for many visionaries to cater to the pain points of the society and at the same time realize their leadership and philanthropy to the full potential.
Visualizing a successful start-up is dreamt by almost everyone but the journey of becoming a successful entrepreneur demands focus, discipline, and effectiveness as a leader. Entrepreneurs, by nature, are enthusiasts about asking questions and making requests. So, it only fair that aspiring entrepreneurs also have questions with them.
Before getting to the questions that everyone should ask while starting a business. We have listed some questions that one must answer to confirm whether they want to be an entrepreneur or not and set a clear base for your further decision making.
Also, these questions are a great help for those individuals who have been looking for a change of path from profession to entrepreneurship or are still trying to explore what is their passion. Well, if you don't ask you know, so here are the questions you might spiral around:
Working for yourself is a big part of starting a new business, amidst various other points one can list st down like:
Start-up allows you to do what you love or at least what interests you.
It allows you to be in control of your work life
It allows you to choose clients and stick to the core values you believe in.
You can achieve efficiency as you are free from office politics and red tape
You might have a chance to learn and earn more than while you are working for someone else.
Since you built something on your own, you can receive a great sense of achievement.
Start-ups teach lessons based on practical experiences, hence even failure or low points can build confidence and turning points for further success.
Yes, start-ups are increasing in numbers today, but still financing them, and sustaining them, is a big deal. Not everyone can make it with their great innovative idea.
So, why should I not start a start-up? Consider the answers to understand which one truly outweighs the other for you.
Finance will remain a troublesome area while you will have to deal with uncertain income and possible cash flow problems.
You will be responsible for everything since you will not have a huge team who you can delegate operations to. You will be the one managing the business' finances, marketing your products or services, organizing paperwork, dealing with lawyers, and chasing clients for money owed to you.
You might become overworked burning the midnight oil.
While the world has now witnessed many successful entrepreneurs who kickstarted their journey in their 20's, mid 30's, and 50's, young entrepreneurs like Bill Gates, Mark Zukerberg, Brin Page and Steve Jobs, and Richard Branson are successful examples.
It is prevalent that although age is not a prerequisite originally demanded in entrepreneurship. But since there is a doubt, these are different age groups and what can help them become successful:
Those start-up owners in their 20's have these major factors at play here including that young founders are more tech-savvy and less risk-averse, older start-up founders benefit from the greater experience, business skill, connections, and access to capital (if it is of their own).
It might seem like they wouldn't have the energy to keep up with their younger counterparts, the middle-aged entrepreneurs have experience. Well, if you look at the core of any successful business is execution. So, with years of accumulated wisdom about effectiveness and efficiency when it comes to developing strategies and making important decisions.
What about those in their 50's and 60's, well, in a recent study, it has been shown that A 50-year-old startup founder is 2.2x more likely to found a successful startup than a 30-year-old. A 60-year-old startup founder is 3 times as likely to found a successful startup as a 30-year-old startup founder. Well, these numbers clearly show the older you are when you start your company, the better chance you have of being successful.
Well, it is cliché but true, at the end that age is just a number, the key is execution. Be it recognising the strengths and weaknesses, hiring people who are stronger in areas where they are weak, or spearheading by delegating responsibilities, age doesn't matter when it comes to starting a company or sustaining it.
Eventually, as you find yourself no matter whatever your age is, and you come out of the shell, your business reflects that confidence and character. So, believe in yourself, your ideas, your drive, your skills, your creativity, your determination, essentially who you are and how hard you're willing to work, to achieve your start-up dream.