Is Entrepreneurship Right for You?
Rosenna Bakari, Ph.D. | Seven Exits
Are you considering entrepreneurship right now? If so, you’re in good company. People are advocating for more control over their time, their emotional health, and their economic potential.
I get it. But, wait!
That doesn't automatically make entrepreneurship the answer. Believe it or not, some jobs are better equipped than entrepreneurship to offer all those things.
I've had roles that provided stability, intellectual engagement, and a sense of contribution. But I left each one to follow my husband's career. Ultimately, that's what led me to entrepreneurship.
And, in the words of Kermit, "it's not easy being green."
There’s a Learning Curve
The entrepreneurship learning curve is steep and blind. Some decisions you don't realize you're making until you're already responsible for the outcome. You don't know what you don't know, and at some point, you will have to pay someone to tell you.
And still, going back to a 9-to-5 is not on my bucket list. I love how my business as a wellness expert is unfolding. I love the alignment. I love the ownership. I love that my work is an extension of who I am.
If you're considering crossing over, here are the three things that should align before you do.
Three Non-negotiables
Money is not optional
Money doesn't come easy as a startup entrepreneur. A lot of people get caught off guard early. And many become frustrated when family and friends don't "support" their business, usually meaning they don't buy their products or services.
But family and friends are not a revenue model. If your business depends on the people who already know you, it's not yet a business. It's a circle of support. And support has limits.
You must have the financial capacity to sustain yourself until your business can sustain you. That source might be:
- A savings or retirement account
- A loan
- A partner or family support
- A steady income stream you haven't fully stepped away from
Whatever the source, it needs to be intentional. Because without it, your decisions will be driven by urgency instead of strategy.
Mindset: Follow the leader
You must lead and you must follow. Good leaders have the ability to navigate uncertainty and stay grounded when outcomes are inconsistent.
As an employee, structure exists. Expectations are defined. Accountability is external. As an entrepreneur, all that shifts. You become the structure. You define the expectations. You hold the accountability.
Without strong self-leadership, poor patterns tend to emerge. You may look for favors instead of figuring out how to serve others to build business. You may work when you want instead of as much as you need to. You may spend what you earn instead of reinvesting in growth.
Mastery: know what you don't know
Part of the reason you will make mistakes as an entrepreneur is because you simply won't know better. I say that from experience. I thought having a Ph.D. meant I would know how to run a business.
I didn't have a clue. I remember needing help to open my business bank account because I didn’t understand all the terms being used. This world is unfamiliar, even for highly educated professionals.
There are entire systems operating in business that most people don't know exist. Certifications like Women Business Enterprise (WBE), for example, can position you for specific contracts, funding, and access to spaces you wouldn't otherwise enter.
I didn't know about certifications. And when my mentor told me, I still didn't know where to begin. She told me which ones to prioritize and within my first year I had two major certifications.
My bookkeeper didn't just manage my books, she taught me how to properly manage them. That happened two years in, when I could finally afford the help. The cost to clean up what I didn't know was enormous.
They say ignorance is bliss. I say it's expensive. You are not just building a service or a product. You are building:
- A financial system
- A legal structure
- A brand
- A set of operations
You can't know everything before you start. But you must be committed to continuously learning if you want to succeed.
What's Right for You?
So, is entrepreneurship right for you?
I can't tell you yes or no. What I can tell you is that entrepreneurship is not about having a good idea, or being passionate, or whether you're tired of working for someone else. Those things matter, but they're not the foundation.
The foundation is whether you have the money to weather the uncertainty, the mindset to lead yourself without a roadmap, and the humility to keep learning in a world that will constantly remind you how much you don't know.
If all three are in place, or if you have a credible plan to get there, then entrepreneurship might be exactly where you belong.
If you are not there yet, that's not a reason to give up on the dream. It's a reason to prepare more intentionally.