The leap. That exhilarating moment when you have a business idea, but committing full-time means taking on major risks. Getting a startup off the ground can leave you vulnerable — emotionally and financially — especially for those without a safety net. And, in this unsettling time of the COVID-19 crisis, we have to consider that economic conditions may not be favorable to those attempting to fund their business or transition from full-time employment. At the same time, many are being forced out of jobs right now, so perhaps there’s no time like the present. But in any climate, if you don’t take the leap, your dreams of autonomy may never be achieved. It may just be that now, more than ever, we need more entrepreneurial spirits.
Making the Leap to Entrepreneurship
Think you’re ready to take the leap and start your own business? If you haven’t yet nailed down your business idea but know that entrepreneurship is the path for you, you will need to determine where your true passions lie. This may require some exploring, in the form of hobbies, side hustles, and DIY classes. Once you’ve solidified your business idea, it’s critical to pursue learning experiences to expand your knowledge base. Start by researching the industry you want to break into, as well as the competitive landscape, to understand how to differentiate yourself. Bounce ideas off of friends and family, who can serve as focus groups and sounding boards. Volunteer in related organizations to gain hands-on experience. Write and publish content to establish yourself as a thought leader in your new industry. Build your networks, and attend industry events. Understand that once you launch your business, your learning curve and your journey have still only just begun.