5 Signs It’s The Right Time To Build Your Own Business

Feb 20, 2017

Starting a business in Canada has become a lot easier over the years. In fact, small businesses account for 60-80% of all business in Canada right now.

Canada’s excellent regulatory atmosphere is the reason behind the major upswing in Canadian startups. 

Seed capital is everywhere in Canada today. Compared to ten years ago, the amount of cash available for small businesses is amazing. 

Government grants like the Industrial Research Assistance Program or the FedDev Ontario are cropping up. These are some beautiful opportunities for budding entrepreneurs that will help them nail down their precious business ideas.

So, the atmosphere for starting a business in Canada is absolutely right. But the question is, are you ready to build your own business?

Let’s jot down a few reasons you might be ready to start your own business.


1. Do You Have The Experience To Build Your Own Business?

I know you’ve probably gotten fed up with the “needs at least 5 years experience” job requirement. But that’s no reason to count yourself out.

The experience thing in business is actually important. Yes, you do have your Zuckerbergs and Bill Gates of the world who started companies early on in life.

But the majority of successful business owners don’t have enough toes and fingers to count the number of leadership positions they’ve taken over the years. 

But a number of life experiences also count toward having the gumption to build your own business. 

Have you led your family for years? 

Balanced your finances and kept up with debt? 

Paid on your mortgage faithfully? 

Maintained a car? 

Made connections in your community?

And remember, these are only a few examples of ways you may have accumulated the experience necessary to build a successful business.


2. You Could Explain Your Business Idea To A Child

Could you distil your ideas down to a simple list? Albert Einstien said, “If you can’t explain it to a six-year-old, you don’t understand it yourself.”

People outside your niche have to be able to understand your ideas before you will gain the funding to develop them.

If you need someone to help distil your idea down for you, hire someone or get a friend outside your niche to explain it back to you.


3. Are You Mature Enough To Run Your Business?

Do you quietly take care of problems and delegate when needed? Are you level-headed and keep calm in the face of danger?

You can be that and more if you start your own business. 

You must know how to lead if you are going to have even one employee. You have to be willing to take the blame. You have to be willing to stay cool and not freak out when things go south. 

If you can do these things, you are ready to run your own business.


4. Are You Undaunted?

Can you run the marathon it will take to rise to the top? You will face challenges like no other time in your life. You will stay up late at night and get up to face the dawn the next day. 

Building your business from the ground up will take drive and determination. It may not be easy, but the rewards outweigh the pains.


5. Do You Have That Entrepreneurial Spirit?

Are you brimming with ideas about how to make money? Do you have the feeling that your ideas will blow the socks off the world?

If you want to successfully build your own business, you might already have the entrepreneurial spirit to do so!



If you’re looking to start your own business, contact us and let us know your ideas.

We’re here to help new entrepreneurs like yourself get their dreams off the ground. 

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