Although there is no test that can give you an accurate answer, there are certain essential questions that will help you determine if you meet the requirements to be successful in this new project.

 

  1. How committed are you?

One thing is certain: successful entrepreneurs have a great commitment to their business. It is something simple to understand, but difficult to put into practice. If you are one of those who passes from one hobby to another without being really focused on something or easily distracted, maybe it is not your moment. Entrepreneurs are persistent, even when things get tough.

 

 

  1. Do you have patience?

Although not all optimists start a business, most entrepreneurs think positively. From those who own a single location, to the founders of the most important companies, they all have in common the ability to turn challenges into opportunities. Without this essential characteristic it is difficult to motivate employees and succeed in the midst of a crisis.

 

 

  1. Do you like to make decisions?

This implies assuming a commitment. And when decisions are not adequate, the consequences can be fatal. Especially when you start a project with limited capital and resources. Is it better to install the office at home or rent a space? How to fix the price of your products or services? What will be your target audience? … In short, there are many questions that you must answer. And the difference between a hobby and a business is that decisions have financial implications. Can you enjoy it equally?

 

 

  1. Do you have capital?

Once you have a business plan and you know that your hobby can be a profitable business, the next step is to finance it. The recommendation in these cases is not to give up your work. Getting a loan is not easy and requires many sacrifices. So, if you keep a salary and things do not work as you planned, at least you will have to endure a crisis, without having to lose your business.

 

 

  1. Do you like sales?

When you are an entrepreneur, your job is to sell, be it products, a business vision and even yourself. And you will have to do it every day, several times. Do not worry, if you really have what it takes to be an entrepreneur, you will enjoy it.

If you answered yes to most of the questions, then you are ready to transform your hobby into a real business. If your answers were negative and you still feel the desire to be an entrepreneur, it is best to find a partner that supports you to make your dream come true. Remember that even if you really enjoy your hobbies, think about whether you will be willing to let them become a way of life with financial implications.


Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file, critical financial documents and back office tools in an efficient and secure environment. Complete Controller’s team of US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. With flat rate service plans, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.