Aug 11, 2011

5 Signs It’s Time For You To Become An Entrepreneur

Many people wonder whether they should become an entrepreneur or not.

It’s a complex question. A lot of factors will influence your decision: your marital status, the number of children you have, your monthly expenses, etc.

If you have a “regular job” on top of these factors it can be tough to know when, or if, you should try your hand at entrepreneurship. However, if you find the list below reflects your current work experiences, your answer should come fairly easily. Even if you have all kinds of things going on, now may be the time!

First Sign – moving from job to job

You’re already thinking of quitting a new job. You might be getting bored or feeling stuck with a boss who is a total jerk. You’re planning to quit after you find another job. But in six months, the same “bad luck” could happen –- you’re bored, working for a jerk, quitting, and moving on.

This could go on for a while. Honestly, you’re not the greatest employee. Admit it. “Bad” employees can make great entrepreneurs, though!

Second Sign – day dreaming at work

You daydream while working. A lot. You spend time talking to/meeting with people about your new business or idea while you’re working for someone else. Your nights, weekends and free time are consumed with your business or business idea.

This may have been going on for months. Sadly, for some people, it goes on for years. But it’s not fair to your employer and it’s not fair to your business or idea. It’s REALLY not fair to you.

Third Sign – no passion

You feel like the work you are doing for your company isn’t valued. Ask yourself: Do your ideas get ignored? Do you know (deep down) that you could do a lot more for them than they let you? Are you watching the clock hit 5 pm so you can get out the door right away?

How long have you felt this way? If it’s been a while, then you need to do something about it. I can promise you this – if you become an entrepreneur, 5 pm will become a meaningless time of day to you.

Fourth Sign – getting fired?

You just got fired or you’re probably getting fired. Many great entrepreneurial stories are started by someone being forced into entrepreneurship. If you find yourself among the unemployed and a job isn’t right around the corner, then you may want to start a business.

Sometimes we find success out of necessity. And an income is a necessity. Finding work in your own home would be a fabulous solution to unemployment, wouldn’t it?

Fifth Sign – you’re ready!

You have been talking about starting a business for a long time. You have a business name chosen, a legal entity registered, a Web domain purchased, an email address set-up, a product or service you have been tweaking, a logo designed, a business bank account set-up, business cards, a matching Twitter name reserved, financial projections and a website ready to go live.

Well, congratulations on being a “ __ .” You want to be an entrepreneur, I know. But you won’t be until you push the ON button and go live. Chase customers, pay bills, and take some real risks. You’ve seen the signs. It’s time!

For more on being an entrepreneur, read 5 Must-Have Attributes for Entrepreneurs and an Interview with Barbara Corcoran, as she lays down six rules for entrepreneurs


About Alex Lawrence
5 Signs It's Time For You To Become An Entrepreneur
Alex is the author and owner of The Entrepreneurs Blog and has been launching and growing successful companies for more than 15 years. He is currently the Vice Provost of Innovation and Economic Development, and a Professor of Internet Marketing and Entrepreneurship at the John B. Goddard School of Business and Economics at Weber State University, where he earned his MBA. He’s very active on Twitter at @_AlexLawrence

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  1. Great post Alex!! You are an inspiration to us all. In due time I hope to follow in your footsteps. Good practical advice in this article, thanks.

  2. Thanks Dan R.! You are too kind though. And Dan B. is right, the last thing I need is you saying stuff like this.

  3. This article shows that, I am in a track of being an entrepreneur.

    Thank you Alex.

  4. I like the last part of pushing the “On” button. I’ve battled the same disease many of times before…read all the blogs in the world, bought the domains, etc but didn’t actually follow through with execution.

  5. “Time to follow through then, yes?”

    Alex, no truer words have ever been spoken, with a lot of things.

  6. Very inspiring words, Alex. That sounded like my life the past several years. I have done everything mentioned in the article. I’ve also started a business plan many times but frustration gets the better of me due to lack of knowledge on writing one. I also don’t have a clue as to where to find financing.

    • Robert, you’re on Lendio and you don’t have a clue about where to find financing? I just added a button below Alex’s bio just for you.

    • Robert! Good to hear from you sir. I’m glad you are ready to chase down one of your business plans. Dan is right though; Lendio for financing all the way. Good luck!

  7. hi alex, i have been reading your blogs and posts , its very nice and useful..right now i am doing mba and my passion is to become an entrepreneur(Billionaire :-) ) .. just looking for the right idea..

    • Senthill – I’m glad you’ve found this post helpful. Good luck with your MBA. By all means check back in as you progress. We want to say we knew you *before* billionaire status :)

  8. Wow .. you’ve pretty much laid out the last several years of my life. Though I have started a home business, I’ve not yet made the leap to full-time. Sometimes it’s easy to “depend” on that employer income. But this inspires me to push forward both in my home biz as well launch a business website that I’ve put off for years now.

    Thanks for this article; very nice work!

    • Rob,

      I think I’ve described a few people’s lives :) If you are getting close with your home biz, you really should think about making the jump. There is no such thing as the perfect time, working for yourself always has risk – at the beginning and everywhere else along the way. Keep us posted and good luck. And thanks for the compliment. I’m glad you found the post helpful.

      • hi, my name is Georgia, it is nice to have stumbled on to sch an encuraging web page.I have an ideabut dont know where to start,have drawings,but not sure where or hw to market the idea.

  9. Decent article Alex, but I have to point out a “typo” here (sorry dude! I’m just a stickler [another word for butt-hole] for proper English and correct grammar): In the 2nd paragraph (“First Sign – moving from job to job”), you have used the word “whose” incorrectly – it should be “who’s” because you are actually abbreviating “who is”, whereas “whose” infers that a question is being asked (?).
    My apologies again but please consider it constructive criticizm – although my comment has nothing to do with your article itself; all the best.

  10. Totally man. It’s time. I’ve been experimenting with ventures for the past couple of years to make money, but it wasn’t until recently that I’ve started an actual company and begun to build it, to the exclusion of all else. Leading up to my decision to get the hell out of the drone like work world, I felt all of these.. SYMPTOMS!!!

  11. Dear Mr. Lawrence,
    These Words of Wisdom Often Come Too Late for Many Start-Up Companies ! Thank You for Helping Millions of Businesses Protect Themselves !
    Joaseph Anthony Smith- President
    Northstar Financial Consultants, Inc.
    February 2, 2012
    8:30 P.M. Eastern Time, U.S.A.

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