In the world of entrepreneurship, sometimes it’s hard to know when it’s time for you to say goodbye to your current job so you can say hello to opening your own business. There’s rarely a perfect time to leave it all behind here are a few things to consider before making the transition.

1. Are you passionate about your pursuit?

You’re about to invest a lot of time and money into your new business or product. Be sure that you have enough passion to pull you through the tough times that might be ahead. A great idea teamed with passion and commitment will certainly help an entrepreneur overcome potential challenges associated with starting a business.

2. Have you evaluated the risk?

Owning your own business takes a lot of planning and asking questions. Have you taken the time to step back from the idea of entrepreneurship and looked at what could potentially be at risk? This can include everything from the loss of steady income to market fluctuations and unanticipated expenses. Preparing for the worst case scenario might prevent it from actually happening.

3. Who is your support system?

Becoming an entrepreneur isn’t easy. There’s no doubt that you’ll have lots of ups and downs throughout this journey. Be sure that you have a support system in place before you venture out on your own. Your inner circle will be there to encourage you when you think you’re ready to throw in the towel and cheer for you as your business achieves success.

If entrepreneurship is calling you or you want to connect with other entrepreneurs, make plans to attend Stillwater’s 1 Million Cups entrepreneurial networking events. The national program is designed to educate, engage and connect entrepreneurs with a community. Stillwater’s 1 Million Cup program is a collaborative effort among representatives from the Raita Center at Oklahoma State University, Meridian Technology Center and the Stillwater Chamber of Commerce. Events take place on the first Wednesday of the month at 9 – 10 am at the Oklahoma State University Raita Center Downtown, located at 619 S. Main St. The events are free and open to the public. No registration is required. To find out about more about entrepreneurial courses at Meridian sign up for our monthly e-newsletter. View all of our upcoming courses in our digital catalog.

This is an updated version of one of our most popular TRIO posts on entrepreneurship.