Another 10 reality check questions you should ask yourself before starting your own business

There is an argument that says wisdom is the scarcest rarest and most valuable resource in the world today.

You could also argue that experience comes a close second. When you have succeeded and failed a number of times you start to learn a lot about what it takes to be a successful Entrepreneur.

What many overlook is a third quality outside of wisdom and experience and that is courage. You will see from below the questions you really have to ask of  yourself before you  take  up the challenge of starting and running your own show.

1. I accept that not everyone likes my ideas and that it's quite likely that many of my ideas are garbage.
2. If I go into business with friends or family, I am okay with losing that relationship forever if things end badly.
3. I don't have existing anxiety issues and I handle stress with ease.
4. I am willing to fire or lay off anyone no matter what — how good of a friend they are, if they are my own sibling, if they just had a baby, if they have worked with me for 20 years, if their spouse also just lost their job, if I know they might end up homeless, if they have cancer but no outside medical insurance, or any other h scenario millions of bosses and HR people have faced countless times.
5. I am okay with being socially cut–off and walking away from my friends when work beckons.
6. I love naysayers and I won't explode or give up when a family member, friend, customer, business associate, partner, or anyone for that matter tells me my idea, product, or service is a terrible idea, a waste of time, will never work, or that I must be a moron.
7. I accept the fact that I can do everything right, can work 70 hours a week for years, can hire all the right people, can arrange amazing business deals, and still lose everything in a flash because of something out of my control.
8. I accept that I may hire people that are much better at my job than I am and I will get out of their way.
9. I realize and accept that I am wrong ten times more than I am right.
10. I am willing to walk away if it doesn't work out.

Welcome to your dreams.

Comments

[Guise Bule]

The above ten questions are something hardly any entrepeneur I know has the cojones to ask themselves.

Hard questions Justin. My answer to all has always been affirmative.

Belief is half of being.

[Alex]

Great questions and its really hard to give a frank answers. I think the question no 10 is wrongly placed. I personally dont like to Give up...

[F Horn]

I look forward to seeing your excellent articles more because they are so true, easy to understand and practical. I hope you continue doing what you do best.