You may have an amazing business idea, but actually following through with it can feel impossible.
You may doubt your own abilities or the sustainability of your potential business, or perhaps you’re too afraid to leave the stability of your full-time gig.
Whatever the reason, you shouldn’t let fear stand in your way, especially not in a city full of dreamers.
We asked a panel of Forbes New York Business Council members to share their experiences taking the leap into entrepreneurship.
Based on their insights, here are six ways you’ll know it’s time to start your business.
1. When you can solve a problem you’re experiencing yourself
Token was really a company born out of personal necessity.
After having my credit card stolen multiple times, I was tired of having to pay the consequences.
Millions of people face the same difficulty every year.
Find something that you would like to see changed and can be passionate about every day. That is a strong indication of it being a good time to make the leap. – Yana Zaidiner, Token Payments, Inc.
2. When there’s a gap in the market and you can fill it
Back in 2011, my business partner and I noticed what wasn’t available in the office space industry.
We had seen a couple of providers who weren’t offering anything above the conventional office environment, and we didn’t wait; we jumped right into the industry. – Morris Levy, The Yard
3. When life presents you an opportunity to do so
When my position at a large health system was cut, I knew that it was time to take the leap to believe in myself and become an entrepreneur.
I was 56 and knew that it was now or never.
My gut was telling me to start a business. Sometimes, we get that feeling in our gut that tells us yea or nay, and we must follow it.
To my fellow aspiring entrepreneurs, my advice is, go with your gut! – Ivy Algazy, The Ivy Network
4. When you’re ready to build your own dream instead of someone else’s
Deep inside there was no other option. Being an entrepreneur was all I ever wanted to do.
What really made me take the leap was when I wasn’t feeling fulfilled at work anymore.
I felt as if it was time to stop building someone else’s dreams and start building my own.
I fought through the final months, made a clear plan and made the leap. – James Giacopelli, Giac Capital, Inc & Giacopelli Accounting and Tax Services, LLC
5. When you’ve found your passion
When you are passionate about an idea that has the potential to fulfill you personally, professionally and financially, there is no better time than the present to begin taking initial steps toward making that dream happen.
The overall process of starting a business takes time and isn’t a linear path, but why not get the preliminary research and foundation started right away? Just do it! – Denise Caron-Quinn, In Order to Succeed®
6. When you believe you can be successful
No one will start a business unless they believe they can be successful. Many tell me they want to start a business, but they don’t believe they can be successful.
I explain that they can achieve whatever goals they have, but they need a do-not-quit attitude, the motivation to do whatever it takes to be successful and the understanding that failure is not an option. – Philip Smith, PJP Marketing, Inc.