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Mental Readiness For Entrepreneurship


Person sitting down thinking
Person in deep thoughts

Starting a business involves hard work, commitment, determination, and resilience. A couple of years back, I admired my peers who took the leap of faith, quit their jobs, and started new businesses. Little did I know the emotional and financial readiness needed for one to start a business.


Due to the massive job losses caused by the Covid-19 pandemic, many Kenyans have been forced to try out new things. My good friend Kantai, who was a banker, unfortunately, lost his job in May 2020 due to the effects of the pandemic. He decided to start a carwash business so that he could sustain his family. He recently joked by saying, "I was used to wearing suits, now I am wearing kabutis (overalls)."


Below are 5 must-do's to help you get mentally prepared to become an entrepreneur.


Build And Improve Your Patience


In theory, the thought of waiting for something you desperately want or need seems easy, but in reality, it's a very difficult and challenging task, more so, when you are faced with obstacles.


Instant success is a lie that social media tends to portray. It's important to note that the key to winning a startup is patience. Patience is a virtue and a skill that is very important in the success of your new business venture.


Many new entrepreneurs want immediate profits and success. While some businesses may achieve that, the majority take time, many take years. So, before you take that leap, work on your patience levels.


Ignore Self-Doubt


Everyone grapples with self-doubt and self-esteem issues once in a while. Even successful business people have at some point experienced it. "Is it the right time? Will I be able to execute it? Am I ready?" These are some of the questions that linger in one's mind.


Don't let paranoia get a hold of your inner self. Do not compare yourself with others.


The only person who can define and determine your destiny is you, therefore, you have the responsibility to manage your own thoughts.

Stay away from negative people, their presence in your life is toxic.


You can easily and effortlessly overcome self-doubt by remembering that if you can imagine anything, you can imagine everything. Remember, the sky's the limit and whatever you set your mind to do you can achieve.


Do What You Love, Be Passionate


Imagine waking up every morning to something you hate doing. According to Gallup's World Poll, many people in the world hate their job and especially their boss - let me confess that I have been in such a situation where I wanted to pluck some of my bosses' heads.


Smiling man
Happy man in his clothing store

As a new business person, hating your new venture will drain all the energy and zeal that you desperately require to stay afloat. If you don't love what you do, then sooner or later you're going to want to stop doing it.


If it's making mahamris or githeri, business consultancy, selling mitumba clothes and shoes - whatever it is you have set your mind to accomplish, be passionate about it. When you are passionate and determined to run a successful business, you will not get broken from failure.


Be Ready To Embrace Failure


Experiencing failure in business is nothing new. When you experience failure you become stronger. Failure is an opportunity to learn. Failure teaches you your strengths and weaknesses. I have failed severally, and I would never let a single failure stop me or get in the way of my goals.


When you have prepared your mind for any eventuality when it does strike it will not be catastrophic. You will be able to dust yourself and move on. You need to be the kind of person whose response to things going wrong is to work harder and get things fixed, not someone who cries and goes into hiding.


Get Out Of Your Comfort Zone


Yes, you must get out of your comfort zone and step into the unknown. Remember that once you have launched your business, your learning curve and journey begin. Fear of failure or losing your comfort zone will be detrimental to your success.


Learn new skills. Embrace technology. Social media is your friend - not always though. Get comfortable with being uncomfortable to withstand obstacles such as competition, financial struggles, customer challenges, and slow business growth. Be on the lookout for new challenges.


Conclusion

A journey of a thousand miles begins with a single step. If you are wondering whether you've got what it takes, I encourage you to take that leap of faith and know that once your body and mind are prepared, then you will be on your way to success. Go for it!


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