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January 9, 2019

Are You Ready to Found a Company?

As one year winds to a close and the next is around the corner, many current and aspiring entrepreneurs are thinking about one big decision in 2019—whether or not to found a company. Choosing to found a company can be like deciding to have a child. Do you want to devote your time, energy and money to a business for the indefinite future? Are you ready for the emotional and financial demands that running a business requires? Are you really prepared to found a company?

The Signs You’re Ready to Found a Company 

  1. You understand that you will never be fully ready to found a company. The truth of founding any business is that you will never feel 100% prepared to start. You could always have more money, more experience or a bigger network, and some of that growth will occur once you get started.
  2. You know why you want to start a company. Every founder should be 100% clear on why they want to start a company. While some of your reasons might change over time, there should be one unwavering motivation that you can turn to when things get tough.
  3. You understand that there will be many sacrifices that you need to make along the path to successful entrepreneurship, and you are prepared to make them. Know that, aside from financial pressure and long working hours, you will probably need to miss parties, holidays, birthdays, spontaneous dinners and more. However, the benefits of your business can outweigh that if you are passionate about what you do.
  4. You have the daily habits needed to support your entrepreneurship journey. This can be a variety of positive practices including things that boost your energy, mental clarity, productivity, motivation and focus.
  5. You know that you can’t do everything on your own. What does that mean to you? You have a good support system and know that you can’t do everything on your own. Whether it’s a sibling you are roommates with or a partner who is also busy, you should be ready to manage expectations and work hard to keep your relationships intact.
  6. Finally, you should know the basics of business. You don’t need ten years of experience, but you should have a good knowledge base to found a company. You should also know where to get help—like My Admin Co.

Help for Founders from My Admin Co 

My Admin Co understands how hard it is to juggle running a small business with playing receptionist. That’s why we offer convenient and affordable administrative services, including answering service. To learn more about our services and take administrative tasks off of your plate, visit us online or call us today at (410) 324-3934.