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Deciding to start your own company

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Deciding to start your own company is a big step in an individual's life. For the most part it means you are taking a step away from what is safe and stable and taking a leap of faith in the direction of a new and exciting endeavor, but one that might bring uncertainty.

Here are three basic but important questions to address before setting off on your own, and starting your new business.

1. Is this Your Passion? This needs to be your passion. It needs to be the thing that keeps you up at night and something that consumes your thoughts. The excitement about going into business for yourself should be palpable to others. That zeal and enthusiasm is what will get you through the difficult times.

2. Are You Willing to Take the Risk? You might find yourself having to quit your day job, having to dedicate all your spare time to your new company--putting aside time with family and friends. You might have to sign a lease on a new space. There is no guarantee of success, and certainly not a steady paycheck. The life of an entrepreneur can be adventurous. With no boss, you are your own boss, and the sky is the limit, but it also means you will be taking on risks. This is not for the faint of heart.

3. Am I in It to Win It? This is about going it alone, for the most part, and going full throttle. Starting your own company is about waking up every morning giving yourself that pep talk and staying focused on the goals at hand and keeping your stealth focus on the longterm goals. Plenty of entrepreneurs burnout in the first 6 months. Finding a work/life balance and understanding that before your company takes flight you have to give it your heart and soul.

One way that Entrepreneur.wiki may assist you with your new enterprise is that we are an open global platform that acts as a comprehensive directory of information about the world's most successful entrepreneurs. It is an informational source that helps guide new entrepreneurs ready to start a company.