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5 Signs You’re Ready to Start Your Own Business

Jan 10, 2020

The thought of entrepreneurship and being your own boss can be an exciting (and nerve wracking) thing.  You will be risking a lot to take the leap into business ownership, but the rewards can be incredible!

Some of the Rewards of Entrepreneurship Include:

  • An incredible work/life balance – set your own schedule
  • Financial success – build your empire!
  • Lifestyle – Have the lifestyle you desire
  • Community involvement and charitable give-back – make a difference in your community and the world
  • Breaking free of the 9-5 job cycle!

Do any of those rewards sound appealing to you?

If So, Here are 5 Signs That You’re Ready to Start Your Own Business

1. You want more than what you are getting out of your current career

Are you feeling like your job is holding you back from meeting your full potential?  Are you sick of the 9-5 grind?  Are you not building the wealth that you desire? Do you want more than what you are getting in your current career?  If so, it is a great sign that you are ready to start your own business.

2. You have access to the capital required to start a business

Starting a business is going to take some money but you don’t necessarily need to have it all in cash in your bank account today.  You could tap into equity in your home through a home equity line of credit (HELOC), borrow from friends and family, get a small business loan from the Business Development Bank of Canada or a traditional bank.   At Modern PURAIR®, we have relationships with banks that may be able to help you fund the startup of your franchise depending on your credit score and financial situation.  If you think you might be able to pull together the required funds to start a business, then it could be time to start your own business.  Click here to see the investment requirements for a Modern PURAIR Franchise.

3. You are goal oriented

A Harvard Business Review Study revealed that people who have unwritten goals are 10X more successful than those without goals.  And that people with written goals are 3X more successful than those with unwritten goals. Do you have goals for what you want in life?  If you don’t think you can achieve those goals in your current job, it could be a sign you are ready to start your own business.

4. You understand what it is going to take to build a business from the ground up

Being a business owner can give you an amazing work/life balance and allow you to escape the typical 9-5 grind.  As a business owner, you get to decide if you want to take the day off to go with your child on their school field trip or if you want to go on a weekday ski trip with your friends.  That being said, when you first open your business you are likely going to be working harder than you ever have before and you likely wont be taking any vacations for the first while.  If you understand this and are excited to get started, it could be a sign that you are ready for business ownership.

5. You have a high sense of urgency

Harvard Professor John Kotter, the author of A Sense of Urgency explains that urgency is made up of thoughts, feelings, and actual behaviour.

  • Thoughts = Thinking that there are great opportunities out there.
  • Feelings = Gut level determination that we’re going to do something now – and that we’re going to win.
  • Behaviour = Going to work each and every day with a commitment to making something happen.  Taking action.

If you are the type of person who has a high sense of urgency and likes to take swift action, then you could be a great fit for business ownership and it could be a sign that you are ready to take swift action toward business ownership.

Do the signs above sound familiar to you? If so, it could be a great time for you to seriously look at starting your own business.  Modern PURAIR has a proven business model for success.  We provide the blueprint for success complete with all of the system and support.   Click here to download a free Franchise Information Package.

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