Try to start a Business?

Based on the most helpful WSO content, here are some insights and advice for your situation:

1. Entrepreneurial Mindset:

   • If you have an entrepreneurial personality and are considering starting your own business, it's important to understand the challenges and requirements. Entrepreneurship requires resilience, the ability to handle rejections, and a willingness to take significant risks, including financial ones.
   • Reflect on your background and experiences. If you have always been passionate about business and have a knack for finding ways to generate income, this could be a sign that entrepreneurship might suit you.

2. Evaluating Your Situation:

   • Consider whether your current frustration with the job market is temporary or if it reflects a deeper desire to pursue something different. The Covid lockdown has made many people reassess their career paths.
   • Assess your financial situation carefully. Starting a business requires capital, and without a strong financial cushion, it can be risky. If you don't come from a well-off background, this is a crucial factor to consider.

3. Alternative Paths:

   • If starting a business from scratch seems daunting, consider joining an entrepreneurial firm early on as a principal. This allows you to build the company with someone else and gain valuable experience without bearing all the initial risks.
   • Another option is to continue working in your current field, build up your capital and experience, and then transition to entrepreneurship once you have a more solid foundation.

4. Practical Steps:

   • Research and plan thoroughly before making any decisions. Talk to friends, family, and mentors for feedback. Identify potential risks and liabilities, and look for small businesses doing something similar that you could potentially buy and run.
   • Consider the economic climate and technological readiness for your business idea. Success in entrepreneurship often depends on timing and market conditions.

5. Words of Encouragement:

   • Remember that many successful entrepreneurs faced numerous rejections and setbacks before achieving success. Persistence and resilience are key.
   • If you are passionate about your idea and willing to put in the hard work, entrepreneurship can be a rewarding path. However, it's important to go into it with your eyes open and a realistic understanding of the challenges involved.

Ultimately, the decision to start a business or continue seeking a traditional career path is deeply personal and depends on your individual circumstances, goals, and risk tolerance.

Sources: Entrepreneurship or IB... How do you choose?, Why is no one dreaming of opening their own business?, Why You Should Launch a Startup Instead of Going to the Buyside, I've had more luck with entrepreneurship than with career: advice desperately needed, Why You Should Launch a Startup Instead of Going to the Buyside