Given that the vast majority of Nigerian businesses are self-funded, it makes sense that many entrepreneurs choose to start their new ventures while holding down a traditional corporate gig.
Side gigs or projects allow you have a taste entrepreneurship, but at the same time, despite the commitment, and adrenaline that accompanies it, may not be right for now.
Having a side gig requires that you answer these pertinent questions.
Do I really believe in the business?
You spend so much time and effort trying to get your business off the ground, but if you don’t really believe in it, you’re not going to be driven to make it successful. It’s much more fulfilling when the business’s accomplishments are also your accomplishments.
You can get a better feel on what your business stands for by establishing your core beliefs and values. Ask yourself thoughtful questions about the goals and objectives you hope to achieve.
Am I comfortable making decisions on my own?
In an entrepreneurial environment that’s continuously changing, there is usually not a ton of formal structure when it comes to decision-making. So, when you’re faced with a decision that impacts your business there’s not a lot of time for consultation.
In other words, you’ll likely be getting the job done independently. Are you confident in making decisions and moving quickly? This could be your chance to give your leadership skills a chance to shine, but are you ready?
Am I a risk taker?
Making the leap from a large, well-established corporate world to a much smaller, relatively unknown startup can be scary. Leaving a “sure thing” to start a business that may or may not survive past the start-up phase takes a certain amount of confidence.
Asking yourself questions about business goals and priorities would convince you if a risk is worth taking. By being forthright in your answer would offer insight as to what direction to head.
So, how did you do? If you answered ‘yes’ to at least two of the above questions, you can be confident you have what it takes to survive and thrive in a startup. But if you answered ‘no’, then it’s better to rethink that startup decision.