Emma got up to go to her boring, monotonous job and as usual was tired of waking up early every day. The same routine was getting too much and one day she decided that I will leave the job and follow my dream of becoming an entrepreneur.
THEN THE SEARCH FOR PASSION BEGAN!! AND THEN THE PROBLEM
STARTED!
Welcome to a world where every other person with a decent
financial background and no appetite for a steady income finds solace and
escape from a regular job by becoming an entrepreneur, rather a wantrepreneur
because they want to become an entrepreneur, but are they really the one?
Am I an expert on entrepreneurship? The answer to this is
“No One Is”. Just because one becomes a successful entrepreneur doesn’t mean they
know everything about it. But there are few questions that one needs to
ask themselves when they decide to become an 'Emma'.
Are you confusing hobby with passion?
Let’s work on basics! Hobby is something you like doing,
while passion is something you want to work for continuously. So, search for
your passion and see if you can make a revenue generating business out of
it.
Do you think your business can generate positive cash flows
in future?
Let's answer some fundamental questions before you start finding an answer
to this one. In simpler terms do some number crunching and answer questions like,
How much money can you invest in your business?
What’s your risk appetite?
Can your business sustain itself after a period, or will it
require more investment in the future?
How will you acquire customer and what is the expected
volume?
Finally, based on your response to these questions, answer the question we started with!
Can the business generate positive cash flows in future?
These are just questions you need to answer before you
even start working on the implementation part, and still there would be a
hundred questions you will be answering and problems you will be
solving during your turbulent yet experiential journey.
Word of advice! work hard on your business plan, always
practice financial discipline, and know when to stop. If you do this, then even
if you fail, you will still have enough zeal to start again and not get dejected.
Be sure of one thing, you will learn a lot more compared to what
you learned in your B-schools.
Do it for the right reasons!
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M