How to Know If You’re Really Ready to Become an Entrepreneur
- Akino Davis
- Aug 3
- 5 min read
Updated: Aug 10
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In the last article, we explored "Your First 90 Days as a New Founder: What to Focus On" (read here), diving deep into what you should focus on in your first steps as a new entrepreneur. This week, we're shifting the theme by addressing the critical question that keeps so many high-performers stuck in analysis paralysis.
The brutal truth? Most professionals spend more time researching their next Netflix binge than deciding if they're actually ready to become an entrepreneur.
Here's the problem I see every day in my coaching practice: talented professionals with incredible expertise are paralyzed by the question of readiness. They've built successful careers, earned respect in their fields, and developed valuable skills. Yet when it comes to entrepreneurship, they're caught in an endless loop of "Am I ready?" followed by "What if I'm not?"
I lived this struggle firsthand. After seventeen years climbing the corporate ladder in construction and facilities management, I had reached senior management level at a state research institution. On paper, I was successful. But I felt trapped, trading my time for a disorganized vision while my own entrepreneurial dreams collected dust.
The breaking point came during a particularly brutal budgeting process where I realized that projects planned would never get funded completely. I was working 60-hour weeks, managing multi-million dollar budgets, and leading teams across trades. Yet I felt completely disconnected from my purpose. That's when I realized I wasn't asking the right question.
Instead of "Am I ready?" I should have been asking, "What does readiness actually mean?"
The Traditional Approach Gets It Wrong
Most entrepreneurship advice focuses on external markers of readiness: having six months of savings, a detailed business plan, perfect market timing, or specific credentials. I’ve given these bits of advice, and while these factors matter, without context, they create a false framework for entrepreneurial readiness.
The conventional wisdom suggests you need:
A bulletproof business plan
Substantial financial reserves
Industry certifications or formal business education
Perfect market conditions
Complete family buy-in
These checkboxes become procrastination tools. I've seen brilliant professionals spend years "preparing" while their dreams fade and opportunities pass them by.
When I was contemplating leaving corporate, I fell into this same trap. I spent months analyzing market data, creating elaborate financial projections, and seeking validation from every business book and mentor I could find.
Meanwhile, my dissatisfaction grew, and my energy for the transition actually decreased.
The Ready Without the Risk Framework
True entrepreneur readiness isn't about checking arbitrary boxes; it's about building a foundation that allows you to test, learn, and grow intelligently. Here's the framework I developed through my own transition and now use with clients.
Financial Foundation (Not Perfection)
You need financial awareness, not financial perfection. When I finally launched SME Digital, I didn't have the recommended six-month cushion. Instead, I had something more valuable: clarity on my minimum viable income and a bridge strategy.
I embarked on a transition to part-time consulting whilst still with my corporate employer, building my coaching practice over a full two years in advance. This gave me income stability while I validated my business model. Within nine months, I was earning enough from coaching to make the full transition.
The key insight: readiness means having a financial bridge, not a financial fortress.
Mental and Emotional Preparation
Being frustrated with your current situation isn't the same as being ready to become an entrepreneur. True readiness requires clarity on what you're building toward, not just what you're running from.
My mindset shifted when I stopped focusing on escaping corporate and started focusing on the impact I wanted to create. I realized I was passionate about helping professionals like myself transition from being high-performers for others to becoming high-performers for themselves.
This clarity gave me resilience during challenging moments and attracted the right clients who resonated with my message.
Strategic Market Validation
You don't need a perfect product, but you do need confidence that people will pay for your solution. For me, this validation came from colleagues constantly seeking my advice on career strategy and business transitions.
I started offering informal nightly and weekend consulting sessions to test my approach. The positive feedback and willingness to pay confirmed I was onto something valuable. This early validation gave me confidence to formalize my services.
As I discussed in my previous article about "Your First 90 days…." (read here), the market often shows you your readiness before you recognize it yourself.
Assessing If You're Ready to Become An Entrepreneur
Here's how to evaluate if you're ready to become an entrepreneur without falling into analysis paralysis:
Can you solve a problem people actually pay to fix? This isn't theoretical; it's based on real evidence from your experience.
Do you have early validation from your target market? This could be consulting requests, compliments on your expertise, or informal advice-seeking.
Are you prepared for uncertainty while maintaining focus? Entrepreneurship requires comfort with ambiguity while staying committed to your vision.
Do you have a viable transition strategy? How will you move from your current situation to full entrepreneurship without unnecessary financial risk?
My transition took two years of intentional building. I started with nightly and weekend consulting, then made the full jump at the end of my employment contract, when SME Digital was generating consistent revenue.
This approach allowed me to test my business model, refine my services, and build confidence through experience rather than theory. Most importantly, it helped me become genuinely ready to become an entrepreneur through action, not just analysis.
Your Readiness Moment
The truth about being ready to become an entrepreneur is this: readiness isn't a destination you reach through more planning. It's a foundation you build through strategic action, honest assessment, and intelligent risk management.
You don't need to be completely ready. You need to be ready enough to start building while you learn.
Ready to move beyond readiness paralysis and start building your entrepreneurial foundation?
Subscribe to the Becoming An Entrepreneur Newsletter at www.smedigital.biz/blog for weekly insights on transitioning from a high-performing professional to a successful entrepreneur.
Each week, we'll tackle real challenges, share practical strategies, and help you take action without unnecessary risk.
Whenever you are ready, there are more ways that I can help you:
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