Entrepreneurship: A Reality Check

Starting your own business is one of the most exciting yet challenging decisions you can make—especially if you have other commitments like a job or family. Many entrepreneurs ask themselves: "How certain do I need to be about my business idea before taking the leap?"

Spoiler: Very certain! Because this question doesn’t just come up at the beginning of your journey. It will arise again when you consider leaving your (part-time) job, when a potential client cancels a deal, or on a difficult day when you feel like you’re losing motivation.

The truth is: as an entrepreneur, you need a clear vision—a goal that guides you and keeps you motivated, even in uncertain times.

‍

Most Startups Fail Because They Give Up – Not Due to a Lack of Resources

Many believe that lack of capital or time is the primary reason businesses fail. However, according to forbes.com, failure is more often due to a lack of clarity and persistence. That’s why it’s crucial to continuously question and refine your vision.

A proven method: write down 100 reasons why you want to start this business. The goal isn’t to reach exactly 100, but rather to deeply explore your motivation. This exercise will help you determine if your drive is strong enough—and provide you with a list to revisit whenever doubt creeps in.

‍

Key Questions to Ask Yourself Before Starting Your Business

While motivation is a crucial factor for success, the financial and strategic aspects must not be overlooked. Here are some essential points to consider before launching your business:

1. Does Your Product or Service Solve a Real Problem?

Customers only invest in things they truly need—whether practically or emotionally. Ask yourself:

• Who exactly needs my offering?
• Does my target audience have the financial means to purchase my product or service?
• What makes me stand out from the competition?

2. Financial Planning Is Essential

Many entrepreneurs underestimate their costs and overestimate their early revenue. To plan realistically from the start, consider these questions:

• What initial investments are required?
• What are my expected fixed costs?
• What financial obligations will I have as a self-employed person that I didn’t have as an employee?
• How will I finance my business in the first few months?
• Have I included my own salary in my financial projections?

3. Do I Have Enough Time for My Business?

Running your own business requires not just passion, but also time.

• What does my current daily schedule look like? Do I truly have enough time to build my business?
• If not, where can I free up time to dedicate to my business?
• Set fixed time slots for your business and define clear goals for those periods.

4. Do I Have the Necessary Expertise?

Not everyone starts out with all the required skills. Ask yourself:

• Where do I lack knowledge or expertise?
• How or through whom can I fill these knowledge gaps?
• Is it worth hiring experts or mentors for support, or should I acquire these skills myself?

5. Don’t Forget Mental Strength and Self-Care

Long-term success doesn’t rely solely on business strategies—your mental and physical well-being also play a crucial role. Remember to:

• Schedule regular breaks.
• Engage in physical activity and maintain a healthy diet.
• Spend time with family and friends to maintain balance.
• Set clear boundaries between work and personal life.

‍

Conclusion

Building a business is a marathon, not a sprint. Clarity of vision, thoughtful planning, and a healthy balance between work and rest are key factors for long-term success.

If you’re having doubts, take time to write down your motivations, refine your business model, and connect with like-minded entrepreneurs. Your success starts with your determination!

‍

womenbiz ag

Michaela Santschi

Womenbiz is a network created by and for female entrepreneurs. As entrepreneurs ourselves, we understand the challenges and fears of solopreneurs. True to our motto “practice what you preach,” we share our personal experiences with them. We provide them with knowledge and a supportive community. Their success is our success.

‍

^{Setting up a company in Switzerland: a complete guide}

^{Set up my company}