Feel the fear and do it anyway, 5 signs you ARE ready to start your business

One of the reasons we founded Leading Strategies is because Jo and I love working with new business owners. Seriously, it’s great, it reminds us of the passion, energy and enthusiasm you need to get a new business off the ground and we find it interesting, rewarding work.

Over a beer last week, Jo and I were discussing a potential new client, let’s call him Adam. Adam is on the verge of becoming a new business owner but hasn’t actually setup shop yet – he is a classic case of somebody who feels the fear but needs to do it anyway. Frankly, he’s ready, any further delay is simply procrastination and poor delaying tactics. His business can and it will get off the ground but it inspired us to share our thoughts on when you should throw caution to the wind, stop procrastinating, get off your backside and simply just get started. Enjoy!

  1. You appreciate that you will never be 100% ready
    Humility, it’s a wonderful thing. In our experience, those that recognise that there is a huge amount to learn will always be successful. It means they are more open to drawing on any available resources, absorbing knowledge from those more experienced and will be far more flexible when the inevitable surprises occur. Yes, you need to have a good starting position, but you will never, ever know it all.
  1. You know how to sell yourself
    It goes without saying that you will need to sell your business to investors, suppliers, potential partners and future recruits. What people sometimes forget is you often have a whole other audience to convince – friends, family, loved ones. In many cases, we see these parties urging extreme caution because they fear you might fail. If you can learn to communicate your confidence in your idea or product and are passionate about the potential of your business, you will naturally get these people on side.
  1. You have a plan of attack
    Potential entrepreneurs are aware of the financial risks involved when starting a new business – the smart ones plan for this. In many cases, people try to get their business off the ground whilst working in a full time ‘day job’ – this clearly won’t work if you need to be accessible to potential clients at all hours of the day. Instead, plan effectively, save enough to ensure you can cover your living expenses so you can focus your energy on getting your business off the ground. Give yourself the best chance of success from the get go.
  1. You’re prepared to get your hands dirty
    All new business owners will tell you that starting up is hard work. What they don’t tell you is how much you have to be prepared to get your hands dirty. Successful entrepreneurs wear every single hat and are prepared to do anything; negotiate with suppliers, take care of the accounts, even clean the loo if need be! Understanding that these jobs are now part of your remit will help you stay humble, allow you to learn and give you the very best chance of success.
  1. You have already written a Business Plan
    Having a business plan demonstrates that you have really thought about what you would like your business to achieve and the steps you are going to take to get there. To us, this is always a great indication that you are serious about your business idea and stand the most chance of success.

If you are reading this and recognise any of the signs above, perhaps you really are ready!

For advice and support to help get your business off the ground, contact Leading UK today.