Join Entrepreneur+ for $5
Learn More

Is It Time to Launch Your Own Business?

Consider these things before you take the plunge into entrepreneurship.

By

Be your own boss, make your own hours and make your mark on the world -- these are the clear benefits of launching your own business. But there are some downsides, so here are three things to consider before you jump in.

  1. Conduct market research. Is this a viable idea? Are there already a ton just like it? Will you offer customers a product or value they can't get anywhere else?
  2. Do you have enough money? Not just cash for the business but also to sustain your life as you get up and running. Remember, the rewards of small business ownership are often not instantaneous. And not just money, do you have the patience -- and the stomach -- to work through lean times?
  3. Are you confident? Through surveys and research, we know that the most common personality trait shared by successful entrepreneurs is confidence. The business world is fiercely competitive, so you need to be willing to fight for your vision. Are you ready? Then go get 'em!

Get more great tips from the book Start Your Own Business.

Latest

Money & Finance

This Founder — Whose Company Was Acquired by The Makers of Facetune — Reveals The Tools Brands and Creators Need Right Now to Scale.

From co-founding Popular Pays to becoming the VP of Brand Collaborations of Lightricks, Corbett Drummey is on a mission to empower brands and creators. He sat down with Jessica Abo to talk about the creator economy and what to ask yourself if you want your business to be acquired.

Watch now
Business Ideas

Streaming Free: 'Burt's Buzz' the Stranger-Than-Fiction Documentary About the Founder of Burt's Bees

Now streaming free on Entrepreneur TV, the incredible true story of Burt's Bees.

Watch now
Starting a Business

Rob Dyrdek on Designing a Desirable Life

The Serial Entrepreneur and founder of Dyrdek Machine discusses running a multidimensional business, designing a desirable future, and pursuing goals by taking action.

Watch now
Living

How to Achieve Superhuman Levels of Focus with Nutritional Psychology

Could poor nutrition be the reason for a lack of focus?

Watch now
Productivity

These 13 Founders Share Their Number 1 Piece of Advice to Help You Set and Achieve Your Business Goals

From time management tips to shifting your energy these founders share their go-to business tips to help you thrive in 2023.

Watch now
Growing a Business

Why Founders Are Hiring These Two Coaches to Supercharge Their Business

Ankita Terrell and Emily McDonald share how they serve as strategic cofounders to help top female founders scale.

Watch now
Growing a Business

CookUnity CEO Mateo Marietti on Connecting Chef to Consumer

CookUnity CEO Mateo Marietti talks about founding the meal subscription service, a sustainable-minded business model, and becoming the "Spotify of Food Delivery."

Watch now
Living

Unleash Unshakable Confidence in 7 Days

In the cut-throat business world, self-doubt can be the difference between success and failure, costing you everything.

Watch now
Productivity

60 Second Business Tip: How to Stop Getting Ghosted

Business development consultant Terry Rice shares simple ways to win deals.

Watch now
Business News

This Entrepreneur Created an Index to Help You Measure The True Value of The Real Estate Market

The CEO of Empowered Investor sits down with Jessica Abo to discuss the Hartman Comparison Index and his predictions for 2023.

Watch now
Growing a Business

David "Rev" Ciancio on How To Master Restaurant Marketing

Marketing Expert David "Rev" Ciancio discusses the importance of publishing honest social media video content, simple branding strategies, and creating a new type of restaurant conference that actually helps you grow your business.

Watch now
Living

How to Achieve Superhuman Levels of Focus with Nutritional Psychology

Could poor nutrition be the reason for a lack of focus?

Watch now
Thought Leaders

3 New Ways to Develop Laser-Like Focus

To boost focus in the face of distractions, you need a new approach to success.

Watch now
Productivity

60-Second Business Tips: Three Ways to Boost Your Productivity

Business development consultant Terry Rice shares simple ways to get more done.

Watch now
Growing a Business

Ryan Peters of Peters Pasta on Making Content Creation into a Business

Interview with content creator and Peters Pasta founder Ryan Peters about going viral on TikTok, transitioning to full-time content creation, and picking the right brand partners for collaboration.

Watch now

Discover Entrepreneur Series

Whether you need advice on how to get your business off the ground or you’re just looking for inspiration, our video series have something for everyone. Browse our library below to find a series that speaks to you and your interests.

  • 5-Minute Mentor
    Our mentors sit down with small business owners to find solutions to their most pressing pain points — in five minutes or less.

  • No Drama Office
    Working in an office can be crazy — but it doesn't have to be! In this new comedy series, watch as people learn to navigate the twists and turns that come with the nationwide return to the workplace.

  • Entrepreneur Elevator Pitch
    Your favorite pitch show is back with new entrepreneurs pitching Entrepreneur's investors.

  • That Will Never Work
    How many times have you been told “that will never work”? Probably not as often as Netflix co-founder Marc Randolph. The veteran Silicon Valley entrepreneur provides a healthy dose of humor, and actionable advice that will benefit founders - and would-be founders - at every stage of their business journey.

  • Restaurant Influencers
    Every week host and restaurant owner Shawn P. Walchef talks with leaders in restaurant and hospitality about their secrets to finding success with customers and growing a brand online.

  • Jessica Abo
    Jessica Abo covers the causes people care about, the powerful work they do and how they got to where they are in the first place.