How to determine if you’re ready to successfully start your own business? I want to start my own business. I have many good business ideas, but not much experience to implement them. As such, I’m not sure of my ability to start my own business successfully. Can you give me some advice if I should go for starting my own business now, even without much experience? Or should I wait?
Zhishang Career Expert Answer：
You come across many people with good ideas since the market here is less mature compared to markets like the U.S. and Europe. With so many situations that are growing and developing, opportunities are everywhere. As a result, most ideas aren’t as unique or special as you may think, and aren’t the biggest factor that differentiates why most businesses succeed or fail. What determines the success of a new business and entrepreneur more is the ability to execute and implement your ideas.
Actually, there’s a name for most people who have great ideas and decide to start a new business, but who lack experience at implementing things. They’re called, “unsuccessful.” Starting a business is easy, but building a successful one is very difficult. Ultimately, it’s the ones who are able to implement and execute their ideas who are able to build a successful business.
If I were you, I’d spend a year or two working in a start-up business or smaller company to gain some first-hand experience and a close up view of what it takes to build and run a successful business. The advantage is that you can learn and experience all this, including the mistakes, at someone else’s expense. If you choose to start your own business now with very little experience you’re also sure to learn a lot from your situation and mistakes. The difference is that these mistakes will all be at your expense. That can be just as good a way to gain experience, as long as you can afford it. But for most people, I believe it’s a very expensive way to learn.