BY MAX LUKOMINSKYI

Over the last few years, the idea of launching a business has literally invaded the list of dreams of millions of people around the world. It seems like everyone has a bunch of “brilliant” ideas and aspires to change the world.

Nowadays, people like praising the accomplishments of the successful entrepreneurs and keep enjoying the success stories of the world’s most prominent founders.

No doubt, the entrepreneurship is where the fertile soil for innovations, new workplaces, growth, and development is. However, the problem is that this is basically all that people see.

Embrace the truth. Successful business is not only about funding rounds, fancy offices, huge and happy teams, 7-figure sums on the bank accounts, freedom, and fame. There is a part of the road to success that people forget about or even refuse to acknowledge. However, this unnoticed part is where the foundation for massive wins is being established.

Your aspiration to found the next unicorn is great…as long as you understand clearly what it really takes to succeed in business.

Ask yourself these 5 questions before starting a business:

1. Are You Ready To Wait For 12–24 Months Before It Gets Some Traction?

Nothing worthwhile is going to be fast. Nor is business. Despite the stories about startups that managed to go from 0 to $1B in valuation in a few months, these are exceptions rather than the rule.

On average, it takes up to 24 months before a new business gets some traction.

It takes longer than you think to adjust your product or service to the market’s needs and spread the word about your solution. It takes even longer to build rapport with your potential customers and get a few loyal ones.

Make sure that you are not relying on the mythical overnight success. It will take from 12 to 24 months before you see some results. And you’d better be aware of that.

2. Are Your Ready To Sacrifice Everything?

Literally everything. Your comfort, steady income, dinners in the fancy restaurants, regular trips to the shiny resorts, long vacations… Everything. You are not likely to have or do any of those things within the next few months or even years.

Business is not about stability, convenience, and ease. It is about struggle, risk, and uncertainty.

Make sure you acknowledge that you will have to change your values, priorities, and habits if you set out to launch a business. Your lifestyle is more than likely to change and is not going to be the same.

You’d rather be ready to give up the things you like and care about in favor of growing your business. Otherwise, don’t even think about starting anything.

3. Are Your Ready To Commit To 168-hour Workweek?

This is approximately how much you should be working on your project if you want to succeed. By escaping the 9–5 day job rat race, you are voluntarily entering the 24/7 startup rat race.

Business is not about freedom as many would say. It is a major commitment that appears to be way more energy- and time-consuming thing than you have ever imagined.

Be true to yourself…

Can you really, honestly, commit to obsessively thinking, worrying, futzing, stressing about how to do The Impossible? Every. Single. Moment of the day — Jason Lemkin

The obsession and anxiety won’t let your brain relax. Ever. It is supposed to work every single moment — 160 hours a week, 8,760 hours a year.

4. Are You Ready To Go All In?

Nothing is going to work out if you still keep a backup plan in mind, period.

If you still have some options, you’d rather not waste some precious time and give up the idea about creating something worthwhile. If you start a new business with the backup plan in mind, you will certainly fail.

There shouldn’t be any “I’m going to devote another month or two and then we’ll see if it works” or “I’ll give it a try but will also consider the offer I have in case if…”

This is not how the outstanding founders think and act. Despite the obvious risks, difficulties, and uncertainty, they are fully committed to the idea from day one till the very moment they achieve the set goals.

The point is that the great founders are not affiliated with risk. They are not the inveterate risk-takers. They simply have a different attitude: They do not see risks, they see opportunities instead.

Ditch your backup plan or don’t waste your time making some silly attempts to grow a business.

5. Are You Ready To Deal With Excess Ridicule, Failure And Disappointment?

Needless to say that most of the business-related activities lie far beyond your comfort zone. There will be lots of things that will make you feel broken, down and tired. Those are the things that will make you want to quit.

Be ready to find out that for your family and friends the word “entrepreneur” has almost the same meaning as “unemployed” does. Very soon you will find yourself an object of some flat jokes like “Are you going to become the next Steve Jobs?” or “You are building a new Facebook, aren’t you?”

From day one you will learn that doing business is much harder than your favorite authors write in their fascinating autobiographies. The business routine is not always full of fun and great stories, but rather frequent disappointment and frustration. Because the things don’t always work as you want them to.

Make sure that you are strong enough not to pay attention to ridicule, ready to stay determined regardless of the frequent disappointment and can overcome great failures. Day by day. Time after time.