Every entrepreneur’s journey is unique, which makes it virtually impossible to examine your current situation, pitch your business idea to a few friends, and come to a firm conclusion on whether or not you should pursue it.
But what you can do is ask yourself if you have the following three things: passion, perseverance, and patience.
If you do, great! If you don’t, well I can tell you from experience that you’re probably not ready to be an entrepreneur. Here’s why each “p” word is so important:
Passion: Your business idea, your finances, and your team will only get you so far. And even the best idea in the world will eventually hit a snag. It’s during these tough times that your passion for your mission will truly be tested. If you aren’t all-in, you will fail. Period.
Perseverance: Being an entrepreneur is pick and shovel work. What do I mean by that? Your highs will be followed by lows, your successes will be followed by failures. Then you’ll fail again. And again. And again. But you can’t sit. You can’t rest. You have to just keep chipping away at it and always be in that mode. That’s what being an entrepreneur is all about.
Patience: Building a company takes time, and there’s no such thing as an overnight success. You must understand this and be comfortable with the day-to-day grind, even when your long-term goals and overall success are nowhere in sight and might takes years to attain.
There are plenty of other traits that every entrepreneur must have. In fact, I could probably do one of these posts for the entire A-Z alphabet.
But for now, just focus on these three. Do you have passion for your idea? Are you perseverant? Are you willing to be patient? Be honest with yourself when you answer those questions.