Wanting to become an entrepreneur is an appealing idea, but it is not for everyone. I have often come across people who have been unclear about their goals in terms of what business to start, yet show eagerness to get going. If this sounds familiar, you are not ready yet to become an entrepreneur.
It is only when you have clarity of purpose, a clear vision of what you wish to contribute and a heartfelt desire to make it happen that you can say you have what it takes. However, purpose, vision and passion are just the starting points and are not sufficient in them to go all out after an idea.
Passion needs to be the tempered by reason, which is fortified by analysis. First you must consider your personal circumstances, your commitments and responsibilities to immediate family and whether you have the financial means to sustain your current obligations for at least a year, without you income generation from the venture you are thinking of starting. In addition, you must have a team who participate actively with you in developing a business plan by examining all the possible pros and cons involved in pursuing the idea.
Building a team that is committed to an idea is of the essence. Ask yourself, with the individuals you are considering to have in your team, have the willingness and the means to stay with the plan through thick and thin? Also, do they possess the required functional skills to perform their respective roles effectively? What level of risk can you and your team members bear?
Your answers to some of these questions will guide you to whether you have what it takes to become an entrepreneur.